The last blog in this series argued that using formal account access as the primary yardstick for progress in financial inclusion is a poor navigational tool for stakeholders working to strengthen the link between financial systems and the well-being of populations.
Open a report on – or read the mandate of an organization working in – financial inclusion and chances are that in the introductory paragraph you’ll read a variation of a single sentence that motivates the whole endeavor: “Worldwide, more than 2 billion adults do not have access to an account at a formal financial institution”.
This is the third blog in a series about Financial Service Associations (FSAs) and their potential for growth and customer value creation based on an FSD Kenya commissioned survey by BFA. Read the first blog here: Financial services associations: an imperfect solution and the second blog here: FSA asset financing: when paying more yields more.
This is the second blog in a series about Financial Service Associations (FSAs) and their potential for growth and customer value creation based on an FSD Kenya commissioned survey by BFA. The survey took place in 2017 in Bamba, Kakeani and Mukuyuni and involved in-depth interviews with over 60 respondents including customers, their non-member neighbours and FSA staff.
FSD Kenya commissioned Oxford Policy Management (OPM) to conduct an in-depth impact assessment of their savings groups programmes which were undertaken in collaboration with two international non-governmental organisations, CARE and Catholic Relief Services (CRS).
n May 2017, I had the honour of being on a fascinating Euromoney panel about expanding the digital financial ecosystem. One of the many topics that we discussed was the dearth of debt financing available for fintechs and start-ups limiting the potential for scale.
This report outlines the findings from a two-year study by FSD Kenya to understand the costs for banking services in Kenya. Two rounds of mystery shopping surveys were completed in October and November of 2015 and 2016
to build a database and measure the costs for basic bundles of transactions such as opening, running and closing bank accounts.
Banking remains the largest sub-sector by assets and the most systemically significant in Kenya’s financial services sector. Developments, especially those enabled by technology, have brought a sizeable number of new, mostly poorer and vulnerable first-time consumers into the market.
Africa’s population is growing faster than anywhere else in the world. More than half of global population growth between now and 2050 is expected to occur in Africa and of the additional 2.4 billion people projected to be added to the global population between now and 2050, 1.3 billion will be in Africa.
Our first blog in this series discussed the Hunger Safety Net Programme and savings groups (SGs), for which we’ve also sought to use market based approaches. Part Two, discusses the use of a market based approach in graduation programmes.
The impact of the recent six-month drought is readily apparent. The earth is dry and cracked and most of the trees and shrubs are barren. Riverbeds are full of dried branches and the livestock that roam the area are but skeletons, with many dead along the road.
Sending money to Africa is more expensive than anywhere else in the world, according to new research due to be published at this week’s Global Remittance Conference in New York. The report argues that existing technology – like regional automated clearing houses, remittance payment processing hubs and aggregators – could all make sending money from the UK to Africa much, much cheaper.
Across Africa, entrepreneurs and business leaders are increasingly aware that hiring top talent is critical to winning in the marketplace. In Kenya especially, technology-driven financial services companies (“fintechs”) struggle to recruit efficiently and effectively: when they post a job opening, they are often inundated with a high volume of applications and selecting candidates feels like a subjective process prone to bias and inconsistency.