Since the introduction of mobile money in Uganda in 2009, the country has not gone beyond basic mobile products like airtime top-ups and bill payments, which offer little incentive for continued usage and new subscriber uptake. That should not be the case anymore: Mobile Telephone Networks (MTN) is pushing Uganda into a new era with a more advanced and unprecedented mobile savings and loan product to be launched this month.
Worldwide, it is estimated that approximately twelve million people are members of facilitated savings groups and millions more enjoy the benefits of informal financial groupings like ROSCAs, ASCAs, tontines, etc. MFIs and other formal financial institutions have been working to leverage these groups, forming and linking them to their formal financial services and accounts. Typically, forming a savings group entails a good bit of financial education – both in how to manage groups and product-linked financial education. But is it worth it for MFIs?
Dans les villages les plus éloignés du Niger, la pénurie d’eau s’aggrave et devient un sujet de préoccupation pour de nombreuses personnes. En raison du changement climatique, la population du district de Dosso a de plus en plus de mal à trouver des sources d’eau potable sûres et sécurisées.
It’s all at our fingertips. The possibility to make a payment. The delight of receiving one. From Peru to Rwanda to India, people, governments and businesses are increasingly making their payment transactions digitally, whether by mobile phone, by card or online.
The UN Capital Development Fund (UNCDF) and International Centre for Integrated Mountain Development (ICIMOD) have recently signed the memorandum of understanding (MOU) for joint collaboration. Executive Secretary of UNCDF, Ms. Judith Karl, and Director General of ICIMOD, Dr. David James Molden, signed the MOU on July 14, 2016 in Kathmandu, Nepal.
Nepal Rastra Bank, the UN Capital Development Fund (UNCDF), and the United Nations Development Programme (UNDP) jointly launched the findings from the supply side study and roadmap for financial inclusion in Nepal. The findings were released in a national conference, which was jointly inaugurated by Honourable Dr. Yuba Raj Khatiwada, Vice Chairperson of the National Planning Commission; Dr.
To meet the SDGs with their emphasis on leaving no one behind, we need solutions that tackle persistent exclusions and inequalities in the local economies and communities where the poor live and work. Targeting the last mile means adapting solutions to the households, localities and small enterprises that are underserved, where development needs are greatest and where resources are scarcest.
In the first phase of the UNCDF's Local Climate Adaptive Living Facility (LoCAL) programme in Bangladesh, the local government in the Upazila of Godagari started a range of awareness and capacity-building activities. In Nimtola village, the project provided the villagers a safe testing ground for eco-friendly technologies, including solar panels (with PCU and a community grid), a biogas system and improved cooking stoves.
In Benin, MicroLead partners Freedom from Hunger, ALIDE (an MFI) and FadeC (an NGO) are experimenting with the investment/return balance for linking savings groups. What is the bare minimum that financial service providers (FSPs) must invest to create and maintain a successful linkage? And specifically, do savings groups need formal financial education to succeed? Or might a media campaign explaining the process suffice?
An emerging set of new applications illustrates the power of building on digital finance models to bring innovation for achieving the Sustainable Development Goals (SDGs).