World Bank Group, ITU and CPMI launch ‘Financial Inclusion Global Initiative

A new global program to advance research in digital finance and accelerate digital financial inclusion in developing countries, the Financial Inclusion Global Initiative, has been launched by the World Bank Group, the International Telecommunication Union (ITU) and the Committee on Payments and Market Infrastructures (CPMI), with support from the Bill & Melinda Gates Foundation.

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Zambia: Promoting Women’s Access to Digital Financial Services

The United Nations Capital Development Fund’s (UNCDF) Mobile Money for the Poor Programme (MM4P) recognize the fact that when it comes to financial inclusion in Zambia, women are more likely than men to be financially excluded across both formal and informal services. Compared to their male counterparts, women in Zambia are at a disadvantage in accessing financial services.

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Deepening Ghana’s financial inclusion the cooperative way

As far back as last year, some experts had predicted the fall of several banks in Ghana and the recent takeover by GCB could herald a major restructuring of Ghana’s banking sector. But since the main function of banks and other financial institutions is to hold deposits and grant credit to the public, the fall of a single financial institution is a loud call to action to protect depositors.

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Tanzania: Digital Financial Inclusion to Boost Industrial Economy

Digital financial inclusion for country's farmers has been cited as catalyst to boost agricultural production which could in turn facilitate envisaged industrialisation in the country.This emerged during the signing of Memorandum of Understanding (MoU) between the Halotel Tanzania and Mercy Corps AgriFin Accelerate to cement partnership to enable farmers in rural areas use mobile transaction to boost production. The partnership would see the two companies create awareness and enable the farmers benefit from loans and saving through digital channels

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Agriculture financing key to boost Rwanda’s economy

Agriculture employs more than 70% of the total population in Rwanda. As outlined under the Vision 2020 and Economic Development and Poverty Reduction Strategy II (EDPRS) II targets, agriculture is expected to play a critical role in poverty alleviation efforts and overall economic prosperity through job creation and supporting key industries.Despite cited critical contribution to economic development, agricultural finance has been identified as one of the areas that remain a challenge for the Rwandan agricultural sector. The government and other stakeholders have implemented several initiat...

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Unlocking Benefits of the Agriculture Value Chain

Agriculture is the most important sector of the African economy and will drive its rise to economic power. In deed agriculture has been predicted as one of the major driving forces of Africa’s economic resurgence, complimented by a growing interest in the continent’s natural resources. For Nigeria, agriculture contributes about 22 percent of its GDP and over 50 percent of informal employment. However, about 90 percent of the agricultural output is accounted for by small scale farmers with less than two hectares under cropping. This situation presents huge gaps that can be exploited for ...

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The MasterCard Foundation Fund for Rural Prosperity Launches New Funding Opportunity for Financial Services Providers to Improve the Lives of Poor People in Rural Africa

The MasterCard Foundation Fund for Rural Prosperity is a $50 million challenge fund established by The MasterCard Foundation. The goal of the Fund is to transform lives by increasing access to financial services for financially excluded people living in rural and agricultural areas of Africa. Since its launch in 2015, the Fund has held four competitions that have awarded support to 19 projects across Sub-Saharan Africa to implement their ideas with the potential of benefiting over 1 million rural people by 2021.

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AfDB investments in Africa hit a record Shs40 trillion

The African Development Bank Group (AfDB) has invested more than US $10.80 billion (about Shs39.6 trillion) worth of projects and programmes in Africa during the year 2016 through the roll-out of its High-5 priorities and the new Development and Business Delivery Model.

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Rwanda: Export Growth Fund to Ease Access to Finance for Exporters

Export growth is a top priority for the government and as such various measures have been taken to boost Rwanda's export trade. The Second Economic Development and Poverty Reduction Strategy (EDPRS 2), targets an annual export growth of 28%. In an exclusive interview, Alex Kanyankole, CEO of the Development Bank of Rwanda (BRD) talks to The New Times' Minnie Karanja on how the Export Growth Fund is strategically designed to address the challenge of access to finance by exporters and promoting Made in Rwanda products.

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Namibia: Agribank Launches Collateral-Free Loan

 Agribank has launched a collateral-free loan to enable working communal farmers with no conventional collateral to access agricultural loans. The product targets salaried communal farmers who have the ability to repay their loans but do not have property in a proclaimed urban environment. The inclusiveness of all communal farmers will, amongst other factors, increase food production and contribute to household-level food security.

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