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It’s Time to Match Tools with Our Understanding of Consumers and Financial Inclusion
Established in 2015 as a resource centre to help find new ways to use data to assist the financial inclusion community, insight2impact recently released its "i2i Measurement Framework Note series." The document introduces a new theory and set of measurement frameworks designed to help stakeholders achieve their good intentions and is underpinned by three key insights.
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AfDB Approves U.S.$ 15 Million Equity Investment in Shore Capital Fund to Support Inclusive Growth in Africa
With a target capitalization of US$ 150 million, the Fund will provide growth capital and capacity building to inclusive financial institutions such as Small Business Banks (SBBs), microfinance institutions (MFIs), insurance providers, leasing companies, housing finance companies and financial technology providers.
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- Sub-Saharan Africa
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Banking the unbanked in emerging markets
Unlike the U.S., however, where 93% of people have banking options, many in developing markets do not. Globally, an estimated 2 billion adults lack access to formal financial services. The services that are available are typically cumbersome and expensive.
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Press release: The MasterCard Foundation Fund for Rural Prosperity Launches New Funding Opportunity for Financial Services Providers to Improve the Lives of Poor People in Rural Africa
The 2017 competition will follow a ‘rolling’ format. It will be open throughout the year with applications submitted and evaluated periodically. The first submission period will close for judging on August 10, 2017. Unsuccessful applicants will be able to refine and resubmit their applications subsequently, along with new entrants in the competition.
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- Sub-Saharan Africa
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Seeking the Anti-Poverty Holy Grail: Can a ‘Trust Mark’ Boost Microfinance’s Social Impact?
In an effort to find which microfinance practitioners are most successfully alleviating poverty, Truelift – with the help of other microfinance rating agencies and technical experts – designed an assessment tool and beta-tested it on nine institutions around the world. The result, essentially, is a global “trust mark” for anti-poverty action. Organizers are looking for opportunities to use the tool to support assessment of a variety of service providers.
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SPRING announces 19 startups joining East Africa cohort
Disrupt Africa reported in 2015, SPRING launched its inaugural program in East Africa, focused on supporting startups improving the lives of adolescent girls living in poverty. 18 startups were selected to join the first cohort, receiving an average of US$80,000 each. A second program was conducted in Asia.
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- Sub-Saharan Africa
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Making Microcredit Charities Better
While supporting women entrepreneurs is commendable, no data suggest that lending to women—or men, for that matter—is a miracle poverty cure. That’s primarily because lenders commonly charge the poor about 25% for loans. Six randomized studies of microlending programs from 2003 to 2012, published in the American Economic Journal, found no correlation with improved welfare. Although the loans can be helpful in some situations, there’s no evidence of a transformational effect.
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Post offices urged to develop financial inclusion strategies
Africa alone is believed to have more than 30 million migrants with over $65 billion in potential remittances and Minister Mandiwanzira challenged the post offices to sweat their expanisve network reaching out to even the very remote areas, as well as their ability to foster local and international business partnerships.
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