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Payday Loans Emerging As Nascent Market in India
Payday loans are decried a scourge, a menace and our dubbed "loan sharks" in the US and UK. With very high interest rates of 45%-50%, payday loans are given in advance of the next pay cheque and cater to blue collar workers, who are paid on a weekly basis. In India, payday loans are at a nascent stage and just taking off with a host of startups like RupeeLend, MoneyinMinutes, QuickCredit, Money4You.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending
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German Lender MyBucks Eyes Kenya Banking Licence in Race for Clients
German micro-lender, MyBucks, is eyeing a deposit-taking licence from the Central Bank of Kenya in a bid to grow its local clientele base.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Myanmar Startup Takes on Moneylenders With Short-Term Microfinance Loan Options
Debt is a huge problem in Myanmar. Data is scarce, but in many poor communities on the outskirts of Yangon experts believe the majority of households are in debt.
- Categories
- Uncategorized
- Region
- South Asia
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Mobile Money Meets Microcredit: Three Key Decisions in Taking a Concept from Design to Pilot
SAJIDA Foundation in Bangladesh is using evidence from data analytics, business case analysis and client research to improve cross-selling as part of the OPTIX project. Three key evidence-based programmatic decisions were necessary to take a new mobile financial service-based microfinance initiative from the design table to being piloted in the field.
- Categories
- Finance
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How the Securing Water for Food Challenge Seeded My Social Enterprise
In 2013, Reel Gardening applied for and won funding from Securing Water for Food (SWFF) – which helps accelerate technology-based solutions that enable more food to be produced with less water in developing countries – and that money proved to be pivotal in the social enterprise's success. SWFF is funding more innovators this year; the deadline to apply is Monday.
- Categories
- Agriculture
- Tags
- lending, partnerships
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MobiKwik to become first mobile wallet in India to offer personal loans
MobiKwik, one of the leading mobile wallet companies in India, will enter the lending space this month, becoming the first among the top wallet companies to facilitate personal loans.
- Categories
- Technology
- Region
- South Asia
- Tags
- lending, mobile finance
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Health Financing Through PPP Gets Nod of Experts
With Africa needing over US$30 billion to close the infrastructure deficit and in the light of dwindling Government expenditure on Healthcare, experts say it has become imperative that the private sector gets involved in closing these gaps.
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- Health Care
- Region
- Sub-Saharan Africa
- Tags
- infrastructure, lending
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Commercial Bank of Africa Weighs Options to Reduce M-Shwari Fees
Commercial Bank of Africa says it is likely to revise down the 7.5 per cent facilitation fees for its mobile phone-based monthly loans via the M-Shwari platform by end of the year.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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