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Viewpoint: The Next Step for Developing Cuba? Microfinance
All eyes are on Cuba as U.S. President Barack Obama and at least 20 members of Congress descend on Havana today. While members of the delegation differ on the best path forward for U.S.-Cuban relations, everyone hopes for economic development that improves the quality of life for the average Cuban. What are the next steps for development in Cuba? And, how can the international community help Cuba preserve the educational and health gains of the Cuban revolution, while also updating its failing economic model?
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- Uncategorized
- Region
- Latin America
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Weekly Roundup: Obama Chases Bush’s Africa Legacy, Kenya’s Diaspora Leadership and Gray Ghost’s $60M Fund
It’s incongruous to many that the son of a Kenyan is widely perceived to have done less to help Africa than a predecessor best known for putting the U.S. in a bad war and a bad light in so many other places around the globe. Could the President’s Malaria Initiative help change those perceptions?
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- Health Care
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NexThought Monday: Remittances Disrupted – Three ways to make the international remittance revolution stick
Every year, workers around the world send nearly half a trillion dollars to their families back home in developing countries. These international remittances are economic lifelines for millions, though the market has long been known primarily for its high fees, and we are still waiting for a true disruption to benefit the lives of the poor. Andria Thomas at Dalberg discusses three notable gaps that are ready for greater investment and action from the private, public and social sectors.
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- Technology
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WorldRemit Raises $45M to Tackle $600B Market
Remittances start-up WorldRemit has raised $45 million in debt to help it tap the business of using mobile wallets to send money across emerging markets.
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- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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Mobile Money Set to Disrupt International Remittances Market
Amdocs (Nasdaq:DOX), the leading provider of customer experience solutions, today released the results of a new survey examining consumer attitudes towards different ways of transferring money internationally. With the World Bank citing that the international remittance market is expected to reach $610 billion1 this year it represents an attractive, fast-emerging revenue stream for mobile financial services providers.
- Categories
- Technology
- Tags
- fintech, remittances
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Remitly Nears $1B Mobile Money Transfer Mark
Remitly, a U.S.-based mobile payments service, is nearing its next milestone. The company announced yesterday (Jan. 12) that its money transfer growth grew more than 400 percent in 2015, giving it close to $1 billion in annualized mobile money transfers. The company noted that December was a record month for the company.
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- Uncategorized
- Tags
- remittances
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Mobile Money Without Borders: How a new model is transforming the remittance landscape in West Africa
International remittances are a major source of income for people in many developing markets, and Africa is no exception. But Africans pay the highest remittance transaction fees in the world. The industry has been experimenting with a new model that uses mobile money to address this issue. The GSMA shares insights into this model, highlighting results from their recent case study.
- Categories
- Education
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Remittance Platform for Healthcare Services Takes Off in India
With over 22 million non-resident Indians (NRIs) sending $76 billion annually to support their family’s financial needs back home, India is by far the largest remittance market in the world.
- Categories
- Health Care
- Region
- South Asia
- Tags
- remittances