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Oxfam, Visa seek wider financial inclusion for disaster readiness
International humanitarian organization Oxfam and electronics payments company Visa called for wider financial inclusion to improve disaster preparedness and recovery among poor and vulnerable communities.
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This Hult Entrepreneur’s Social Enterprise Is Cleaning Up Uganda’s Informal Economy
In Kampala, Uganda, a proliferation of street vendors are unregistered and do not pay tax, working in an informal, illegal economy. Large urban areas are also notoriously-polluted, with street vendors working around fire hazards and breathing in harmful fumes - particularly charcoal smoke - on a daily basis.
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- Sub-Saharan Africa
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Marshaling Digital Cash for Humanitarian Challenges: Uniting Private, Public and Nonprofit
In addressing humanitarian crises, what unites us—a desire to save and improve lives—is greater than what divides us—outdated perceptions of the roles of aid vs. the private sector. By recognizing this, we can use digital preparedness to set building blocks on the road to resilience.
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Financial Health Means More than Financial Inclusion
Here’s a sobering data point for you, courtesy of the recent EMERGE conference in New Orleans: 138 million people in the United States are financially unhealthy. They are not exclusively from the lower-income brackets, either. In fact, one-third of households with income of $100,000 (or more) struggle to manage their financial lives.
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Here Are 5 of Africa’s Most Financially Inclusive Countries
Fnancial inclusion is vital in achieving inclusive sustainable growth and development as well as reducing poverty. Globally, about 2 billion people do not have a bank account but, Africa has been experiencing great advancements in financial inclusiveness. According to The World Bank, 34 percent of adults in sub-Saharan Africa had an account in 2014 compared to 24 percent in 2011.
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- Sub-Saharan Africa
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Bank of Ghana to weed out unscrupulous microfinance institutions
The Bank of Ghana (BoG) is strengthening its licensing requirements in order to weed out unscrupulous microfinance institutions from the system. Dr Abdul-Nashiru Issahaku, the Governor of Bank of Ghana, said recent events had shown that unregulated and poorly supervised financial systems might lead to risky behaviours and undermine the growth process.
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- Sub-Saharan Africa
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Uganda: Stop Cheating Clients, Minister Urges Microfinance Institutions
The minister for Microfinance, Mr Kyeyune Haruna Kasolo, has warned microfinance institutions to stop cheating the general public by charging very high interest rates on loans.
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- Sub-Saharan Africa
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Borrowing and Saving – Not Two Sides of the Same Coin
From a mathematical point of view, borrowing and saving are mirror images. In both cases many small payments allow for one or more large payouts. Only the sequence differs. But after traveling to India and Kenya as part of a research project, we were struck by vast differences in the way people make borrowing and savings decisions - and these have profound implications for financial service providers.
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