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Nomura launches fintech partnership in India
As part of its attempts to encourage entrepreneurship in the financial market space, Japanese financial major Nomura has launched its 'Voyager -Nomura FinTech Partnership' in India. The global financial major is inviting entrepreneurs to participate in the program to build innovative solutions for capital markets and investment banking that can be deployed across the firm and financial industry, said a statement issued by the company.
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- South Asia
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IMF Brings Down India Forecast Post-Demonetisation
IMF Managing Director Christine Lagarde on Thursday said India growth forecast has been revised down to 7.2 percent for 2017 due to the impact of demonetisation, which had affected the credit lines and repayments situation in rural areas. Addressing a press conference, Ms. Lagarde said, "We had slightly revised down our projection as a result of the demonetization process that had been announced a little bit unexpectedly, actually."
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- South Asia
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Dear Diary: New Financial Diaries Research Explains Why Many Americans are So Angry
Would you rather have more money or a more stable financial life? A striking 92% of Americans in a recent survey chose stability - a sign of the deep undercurrent of financial insecurity running through the world's richest country. A new book called "The Financial Diaries, How American Families Cope in a World of Uncertainty" explores this insecurity in remarkable detail. Its co-author, Rachel Schneider of the Center for Financial Services Innovation, discusses the research and its far-reaching implications in NextBillion's latest podcast.
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Aadhaar leads to greater financial inclusion, says survey
Better financial inclusion is being highlighted as the biggest benefit of the Aadhaar card, according to a survey.
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- South Asia
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India’s Note Ban Shrinks Microfinance Securitisation by 79% in Second Half of FY17
The impact of demonetisation on microfinance securitisation volumes has led to a slump of 79 per cent in the second half of FY17′. “The decline is to the tune of 79 per cent in the second half of the FY17′ at Rs 1,650 crore compared to Rs 8,000 crore in the six months of the previous year,” ICRA Head–Structured Finance, Vibhor Mittal told PTI.
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Franchise model ideal to ensure financial inclusivity in Africa – Zoona
There are regions in Africa where money merchants trade on the side of the road, armed with huge stacks of both US dollars and their local currency, where cash is exchanged so rapidly, so effectively that it barely gets noticed. People go about their business - hardly acknowledging what to many foreigners would probably seem somewhat unusual. But this is the reality of Africa's unbanked, informal but money-intensive market in 2017 - one that mobile payments firm Zoona is looking to target with infrastructure and services.
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- Sub-Saharan Africa
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World Bank Group Launches New Program to Support Africa’s Top Digital Entrepreneurs
The World Bank Group (www.WorldBank.org) launched XL Africa (www.XL-Africa.com), a five-month business acceleration program designed to support the 20 most promising digital start-ups from Sub-Saharan Africa. Start-ups will receive mentoring from global and local experts, learn through a tailor-made curriculum, increase their regional visibility, and get access to potential corporate partners and investors. With support from prominent African investment groups, XL Africa will help the 20 selected start-ups attract early stage capital between $250,000 and $1.5 million.
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- Sub-Saharan Africa
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- fintech
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India: Hero Enterprises to invest $15.5m in Aavishkaar Bharat Fund
Hero Enterprises today announced a Rs 100 crore ($15.5 million) investment in impact investor Aavishkaar’s new fund, the Aavishkaar Bharat Fund. Aavishkaar Bharat Fund is the investor’s sixth fund, and is a SEBI registered Category II Alternative Investment Fund. The firm is aiming to raise Rs 2,000 Crore ($310 million) for this fund, through which it will invest in businesses engaging with the underserved population in sectors.
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- South Asia
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