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India: Fintech Startups that Will Lead the Way to Full Financial Inclusion in 2019
February, 28 2019
India - In the last year, we saw a significant rise in the number of fintech startups coming up that aims at providing instant loans for various needs for their users. But not all startups survive long enough to see the brighter and successful days. Only those startups who have a strong team, robust technology and detailed understanding of the financial landscape survives in the long run
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Rise in Mobile Money Ensures Greater Financial Inclusion: Report
February, 28 2019
Global - The GSMA unveiled its eighth annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets
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Balancing Fintech Risks and Opportunities in the Asia-Pacific
February, 27 2019
Asia Pacific - While developing Asia has grown rapidly, its financial systems are still relatively less inclusive. The rapid spread of fintech offers great opportunity to reduce the cost of financial services and promote access to finance, hence profitably boosting financial inclusion and enabling large productivity gains.
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Mastercard Signs MoU with Angaza
February, 27 2019
Africa - The two companies partner to rollout an efficient digital payment solution that increases access to affordable necessities, like solar home systems and water pumps, for people and businesses in emerging markets across the globe
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ImpactAssets Releases Eighth Annual IA 50 Impact Investment Fund Manager Showcase
February, 26 2019
Global - ImpactAssets has released its ImpactAssets 50 2019 (IA 50), a publicly available, online database for impact investors, family offices, financial advisors and institutional investors that features a diversified listing of 50 private capital fund managers that deliver social and environmental impact as well as financial returns
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LOLC to Issue Cambodia’s Second Corporate Bond
February, 26 2019
Cambodia - LOLC (Cambodia) Plc., a leading microfinance deposit-taking institution in the Kingdom, plans to raise $20 million by issuing corporate bonds on the Cambodia Securities Exchange (CSX)
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Kenya: Equity Gets Sh10 Billion IFC Loan for Onward Lending
February, 25 2019
Kenya - Equity Bank is set to take a $100 million (Sh10 billion) long-term loan from the International Finance Corporation (IFC) to shore up the capital of its Kenyan banking subsidiary and lend to local small and medium-sized firms
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LOLC Joins the Trillion Club
February, 25 2019
Asia - The LOLC Group has crossed the Rs. 1 trillion mark with total assets reaching Rs 1.008 trillion as at December 2018, the company announced on Monday.
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How Good Financial Data Drives Gender-Inclusive Growth
February, 22 2019
Global - A joint report released in 2015 by Data2X, the Global Banking Alliance for Women and IADB noted a lack of reliable and comparable datasets that could help policymakers address gender gaps. This lack of gender data is most evident on the supply side
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India Water Tool 3.0 Launched
February, 21 2019
India - The World Business Council for Sustainable Development (WBCSD) and its partners on Wednesday launched the third version of India Water Tool (IWT), a water-related data compiled from information provided by the government and other organisations
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Disparities in the Cost of Microcredit in Latin America
February, 20 2019
Latin America - Textbook economics predicts that greater competition among banks in wealthier countries would drive down the price of borrowing, and setting price ceilings on lending would lead to a shortage of loans. However, both predictions are refuted in a comparison of Bolivia and Mexico, the Latin American states with the highest and lowest interest rates for microcredit
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Nigeria: How MSMEs Can Benefit from DBN Loans
February, 20 2019
Nigeria - As a wholesale bank, DBN will lend wholesale to Microfinance Banks and deposit money banks which will on-lend medium to long-term loans to micro, small and medium enterprises (MSMEs)
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India: World Bank, Sidbi Launch Rs 300 Crore Social Impact Bond
February, 20 2019
India - A large section of the country's vast hinterland, which makes up for almost 70% of India's population, still lack access to credit. On Tuesday, the World Bank, UN Women, and Small Industries Development Bank of India (Sidbi) came together to launch the Rs 300-crore social impact bond – Women's Livelihood Bonds – to help the rural women to set up or scale up their own businesses
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Experian Expands Innovation Lab to Tackle Financial Inclusion
February, 20 2019
Asia - Experian, a consumer financial data service provider is currently expanding its Experian X Labs, an innovation lab looking into becoming an Asia Pacific incubator and collaboration center. The goal is partly to address the gaps in financial inclusion well-known amongst Asia Pacific nations
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Impact Investing Isn't About Cash. It's About Ecosystems
February, 20 2019
Global - Impact investors, while seeking good returns, also celebrate the relationships and support they can bring to bear. That said, the nomenclature around impact investing is inadequate because it’s not just about making connections when something is looking to grow; it’s about creating a robust ecosystem for those things to take root, grow and propagate
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New Impact Fund Launched to Scale Agribusiness in Africa
February, 19 2019
Sub-Saharan Africa - The International Fund for Agricultural Development has launched a €200m impact fund to scale agribusiness in developing countries. First commitments of €50m to the ABC Fund came from the European Union, the African, Caribbean and Pacific Group of States, the Luxembourg Government and the Alliance for a Green Revolution in Africa
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Second Wave – and Second Funds – for Latin America Impact Fund Managers
February, 19 2019
Latin America - The experiences of a handful of pioneering managers of early impact investing funds in Mexico, Brazil and Colombia offer a glimpse of the future for “second wave” impact funds that are emerging in many of Latin America’s smaller countries, including Guatemala, Ecuador and Bolivia
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China: Sustainable Finance Is Growing in the World's Worst-Polluting Country
February, 19 2019
China - Being an impact investor in China isn’t as lonely as it used to be, says Zhang, whose firm has made or facilitated more than $200 million in China-focused environmental and social investments over the past decade. They include projects to develop clean refrigeration technology and to convert agricultural waste into cooking charcoal
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Nigeria: Liquidation of Fortis Microfinance Bank
February, 15 2019
Nigeria - The attention of the Nigeria Deposit Insurance Corporation (NDIC) has been drawn to a report in the Daily Trust Newspaper of Friday, 8th February, 2019 which alleged a hasty liquidation of Fortis Micro-Finance Bank (MFB)
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Uganda: Behind Micro-credit Loans
February, 14 2019
Uganda - The Daily Monitor newspaper of February 02, 2019 led with a sad story of Gubindi – a resident of Jinja town in eastern Uganda who, after failure to re-pay a micro-loan of 300,000 ($81) that he obtained from Pride Microfinance Limited, took his own life in a police cell
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South Africa: Alternative Investment Universe Expands with Two New Funds
February, 14 2019
South Africa - The alternative investment industry has been boosted with the launch of two new funds offering local as well as global investment opportunities. A joint venture between LionPride Investment Holdings and Newtown Partners has resulted in the launch of the LionPride Agility VCC (venture capital company) Fund – a single technology fund with a choice of two share classes that is open to retail investors
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HelloGold Enters Africa with Baobab Group
February, 12 2019
Africa - Using its digital financial service infrastructure and experience, HelloGold will support Baobab in expanding its financial inclusion services through an integrated savings platform in 2019
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Nigeria: CBN Predicts Boost in Credit with Moveable Collateral
February, 12 2019
Nigeria - The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday stated that given that the inherent risks in granting loans to Micro Small and Medium Enterprises (MSMEs) by banks is now reduced tremendously through the introduction of the National Collateral Registry (NCR), small businesses will now be able not only to access credit but also access such at reasonable rates
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IMF Urges Better Access to Finance for Arab SMEs
February, 10 2019
Middle East and North Africa - Improving access to finance for Arab small and medium-sized businesses could boost regional economic growth by up to 1 per cent per year and generate 15 million new jobs by 2025, according to the International Monetary Fund’s Christine Lagarde
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Nigeria: Ecobank Deepens Financial Inclusion, EcobankPay Zone
February, 08 2019
Nigeria - The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has launched EcobankPay zone at Alaba International Market, Lagos, and expressed the bank’s commitment to continue innovating more payment and financial solutions to best serve traders across the country
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Philippines: Cantilan Bank Drives Financial Inclusion with Oradian Cloud Infrastructure
February, 08 2019
Philippines - BSP Governor Nestor Espenilla Jr. said: “The pioneering introduction of cloud banking in the Philippines is a key moment in solving the challenges of financial inclusion. Cloud technology that meets the requirements of the BSP’s Circular 808 is enhancing the competitiveness of rural banks and enabling them to provide affordable, high quality financial services.
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T. Raval, CEO of IDMERIT: Financial Inclusion Through Mobile Money Services
February, 07 2019
Global - Financial inclusion is described as a phenomenon where people or businesses have access to useful and affordable financial services or products. These services or products must meet customer needs and provide them with value. Financial inclusion states that individuals or businesses cannot be discriminated against based on their net worth or size
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BICE to Issue the First Sustainable Bond in Argentina
February, 06 2019
Argentina - It will be the first bond qualified as sustainable in Argentina, as well as being the bond issuance that contributes to the largest number of Sustainable Development Goals (SDGs) in Latin America and the Caribbean
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Egypt: When Will Agricultural Sector Receive Appropriate Share of Funds from Banks?
February, 04 2019
Egypt - Despite the importance of the agricultural sector to the state, it comes at the bottom of the concerns of the banks operating in the Egyptian market in terms of financing, compared to what the banks provide in huge funds to the government, and to a number of other economic sectors, such as industry, trade, services, as well as the provision of retail loans, with the exception being the Agricultural Bank of Egypt (ABE), originally specialised in agricultural development
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Philippines: BSP - More Improvements in Financial Inclusion
February, 01 2019
Philippines - The Bangko Sentral ng Pilipinas (BSP) is optimistic that significant improvements in financial inclusion will be achieved, in light of recent regulations that are expected to boost account ownership and acceptance of digital payments
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Nonprofits Are Carving their Own Impact Investing Niche
February, 01 2019
Global - The average number of employees working full-time on impact investing for international NGOs has nearly doubled since 2016, according to a new report that polled 45 charities. The change is reflective of a growing impact investing sector — one attracting more dollars and more INGO attention than ever before
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Colombia: Banco Mundo Mujer’s $20 Million Loan
February, 01 2019
Colombia - IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, has provided a loan in Colombian pesos for $20 million to Banco Mundo Mujer, the leading private microfinance bank in Colombia.
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