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More banks given go-ahead to roll out mobile cash in Kenya
The number of commercial banks approved by the Central Bank of Kenya to operate interbank mobile money transfer platform, PesaLink, has doubled to 24 from 12. The product was unveiled on February 16.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Cambodia caps interest on microfinance loans
The National Bank of Cambodia (NBC) has capped interest on microfinance loans to a maximum of 18 percent per year, an unprecedented move that came on the direct orders of Prime Minister Hun Sen, Defence Minister Tea Banh said yesterday – a decision some experts suggested had political overtones and could have unintended negative consequences for the poor.
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- Uncategorized
- Region
- South Asia
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NMAMIT, NIT-K chosen as India’s first startup district
Technology, under Nitte University and NIT-K, Surathkal have been chosen as India's first startup district with incubators by Ministry of Commerce and Industry.
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- Uncategorized
- Region
- South Asia
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Study: Is India’s flagship financial inclusion initiative bearing fruit on the ground?
There is a big debate about the role of financial markets and products in shaping consumer welfare and real economic activity. In developed economies, there is an increasing discussion that financial sector may have become inefficiently large and products offered to households may have become excessively complex. In contrast, in many developing countries, like India, there has been a significant push to increase the usage of financial products – to “complete” the market. While there is some empirical literature on the former, evidence on the latter is scant.
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- Uncategorized
- Region
- South Asia
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Small finance bank licensee Disha’s parent raises Rs500 crore
Fincare Business Services Ltd (Fincare), a financial inclusion platform, on Tuesday announced that it has closed a Rs500 crore transaction with investments from private equity investors TA Associates, True North, Tata Opportunities Fund and LeapFrog Investments.
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- Uncategorized
- Region
- South Asia
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Africa leads in creating resilient women entrepreneurs – Mastercard Index
Following the release of the Mastercard Index of Women’s Entrepreneurship (MIWE) this week, it was revealed that 34.8 percent of businesses in Uganda are owned by women, making it one of the top performing African countries highlighted in the index.
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- Uncategorized
- Region
- Sub-Saharan Africa
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‘I Know Where I’m Going’: Lessons from the ‘Vital Voices’ Accelerator for Female Entrepreneurs
In the final article in a six-part series on entrepreneurship's role in women’s economic empowerment, Nathan Rauh-Bieri highlights the experiences of five entrepreneurs in the year-long Vital Voices GROW Fellowship. The women reflect on what they learned from the training, and evaluate its usefulness to their businesses and their leadership development. Their experiences provide six lessons about how to optimize the effectiveness of entrepreneurship education.
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- Uncategorized
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World Bank giving $100 million to strengthen Nepal’s financial sector
The World Bank has approved a US$ 100 million credit to help Nepal accelerate its medium-term reform program for the financial sector, and to reduce the vulnerability of the banking sector and increase its transparency.
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- Uncategorized
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