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Betting Craze Powers Mobile Money to 20 Percent Growth in Kenya
The volume of cash moving through mobile money transfer platforms grew by a fifth in the first six months of this year, powered by increased uptake of cellphone-based gaming, industry data shows.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Tanzania Keeps Close Eye on Kenya’s Interest Rates Cap Impact
The Bank of Tanzania (BoT) says it is closely watching the outcome of the decision by Kenya to introduce caps on loan interest rates before considering a move back home.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Ratan Tata, Nandan Nilekani to Start Microfinance Company
Mumbai: Ratan Tata, chairman emeritus of Tata Sons, Vijay Kelkar, former finance secretary and chairman of the National Institute of Public Finance and Policy, and Nandan Nilekani, co-founder of Infosys Ltd and the architect of Aadhaar, are joining hands to start a microfinance institution (MFI).
- Categories
- Uncategorized
- Region
- South Asia
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Maj Targets Andes Nations With $100 Million Micro Finance Fund
Maj Invest, a Danish asset manager with $8 billion in assets, is looking to boost acquisitions in the micro finance industry in the Andean region. The Copenhagen-based asset manager is in the process of raising capital to grow the size of its Maj Invest Financial Inclusion Fund II to $100 million by June from $75 million now, according to Kasper Svarrer, who oversees Maj’s private-equity business in emerging markets.
- Categories
- Uncategorized
- Region
- Europe & Eurasia
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Uganda Government to Close Errant SACCOs
State minister for micro-finance, Haruna Kyeyune has sent a stern warning to financial institutions that cheat clients. Kyeyune said that those SACCOs cheating clients will be closed down.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Mobile Payments Drop By 85% In 2016
Nigerians’ interest in mobile banking and payments have begun to wane as the volume and value of transactions consummated on the mobile platform has dwindled by more than 85 per cent in the first seven months of 2016.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Microinsurance policies to be issued to half a million vulnerable people in India
The International Cooperative and Mutual Insurance Federation (ICMIF) will partner with Uplift India Association to enable over 200,000 microinsurance policies to be issued in India in the next five years, providing coverage to half a million low-income people in the country.
- Categories
- Uncategorized
- Region
- South Asia
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Zambian Mobile Money Startup Zoona Raises $15M, Eyes 10 African Markets
Zoona, one of the leading money transfer service providers in Zambia and Malawi, raised $15 million in its second round of capital funding as it seeks to spread its operations to ten countries across Africa by 2020.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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