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Savings Groups: An Inclusive Emerging Economy, With Africa in the Lead
At a time when news about Africa has been dominated by Ebola, it’s worth observing that a highly encouraging change has been quietly spreading across the continent. Over the past five years, the number of Africans — mainly women — who have joined village-based savings and loan associations has soared to more than nine million. These groups are now operating in 40 countries in Africa. Globally, it’s estimated that 10.5 million people are members of formally trained savings groups in about 65 countries. (PDF) The big story about these groups, including their surprising success and emerging importance in development, comes from Africa.
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- Uncategorized
- Region
- Sub-Saharan Africa
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India’s New “Payment Banks” Expected to Spur Innovation
The Reserve Bank of India (RBI) on Thursday released the final guidelines for licensing of payments and small banks. These banks are intended to cover the unbanked and underbanked areas and increase banking penetration in the country, stated the circular. Let’s take a look at the changes that these banks are likely to bring in financial services.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Microloans Help Latinas Become Entrepreneurs In Los Angeles
As if it were a sacred ritual, every week Gloria Sánchez meets to talk business with four other Hispanic women who are on their way to entrepreneurship thanks to the system of microloans.
- Categories
- Uncategorized
- Tags
- microfinance
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Banks Get Better Access To Tap Micro Segment
The newly launched branchless banking regulation will enable banks to expand their financial services to disadvantaged and low-income segments at affordable costs, a senior official of the Financial Services Authority (OJK) has said.
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- Uncategorized
- Region
- South Asia
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Roadmap: Microfinance Industry Eyes 10m Customers By 2018
Perhaps this is the reason why Pakistan Microfinance Network (PMN) Chairman Nadeem Hussain believes that an impressive growth of 20-25% per annum for the past many years has still not made the country’s microfinance industry ‘relevant’ in the fight against poverty.
- Categories
- Uncategorized
- Region
- North Africa & Near East
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Finance: Egypt’s Small Borrowers Have Big Potential
A new law permitting non-bank for-profit lending institutions may unleash a revolution in microfinance by allowing more actors and innovators to get involved.
- Categories
- Uncategorized
- Region
- North Africa & Near East
- Tags
- microfinance
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UAE Fund To Provide $200 Million In Loans To Microfinance Projects In Egypt
A United Arab Emirates state investment fund announced on Monday it would provide $200 million in loans for microfinance projects in Egypt, a move it said would create more than 120,000 jobs by 2020.
- Categories
- Uncategorized
- Region
- North Africa & Near East
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Micro-insurance On the Up Among Insurers and Public
While insurance penetration in general remains low, micro-insurance has seen significant growth as more banks partner with insurance firms to offer micro-insurance products to low-income earners.
- Categories
- Uncategorized
- Region
- South Asia
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