Tag #Financial Inclusion

Showing 25 to 36 of 51 results

forbes.com

🌐 85% Global Worthiness

Apr 16, 22:14

Financial Exclusion and the High Cost of Poverty in America

Lack of banking access disproportionately impacts low-income Americans, particularly in Southern states like Mississippi (11.1% unbanked) and Louisiana (8.1%), leading to reliance on predatory financial services with exorbitant fees (up to 572% APR on payday loans) and hindering economic development...

Financial Exclusion and the High Cost of Poverty in America

Lack of banking access disproportionately impacts low-income Americans, particularly in Southern states like Mississippi (11.1% unbanked) and Louisiana (8.1%), leading to reliance on predatory financial services with exorbitant fees (up to 572% APR on payday loans) and hindering economic development...

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What are the immediate consequences of limited banking access for low-income Americans, and how does this impact community economic vitality?

In Mississippi and Louisiana, 11.1% and 8.1% of residents respectively lack bank accounts, highlighting the disproportionate impact of financial exclusion on low-income communities. This lack of access forces reliance on predatory services like payday lenders, resulting in exorbitant fees and crippling debt.

forbes.com

🌐 75% Global Worthiness

Mar 29, 13:19

Bitcoin Ekasi: Integrating Bitcoin in a South African Township

Bitcoin Ekasi, a South African project founded in 2021, has successfully integrated Bitcoin into a township community by building trust, providing education, and incentivizing adoption through various community initiatives, resulting in 32 shops and 21 employees using Bitcoin.

Bitcoin Ekasi: Integrating Bitcoin in a South African Township

Bitcoin Ekasi, a South African project founded in 2021, has successfully integrated Bitcoin into a township community by building trust, providing education, and incentivizing adoption through various community initiatives, resulting in 32 shops and 21 employees using Bitcoin.

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What are the key factors contributing to Bitcoin Ekasi's success in a community with limited banking access?

Bitcoin Ekasi, a South African Bitcoin project, thrives by leveraging its pre-existing community relationships, overcoming initial skepticism to onboard 32 shops and 21 employees onto a Bitcoin salary system. Many community members have seen their Bitcoin holdings increase since late 2022, demonstrating the project's success in financial inclusion.

french.china.org.cn

🌐 85% Global Worthiness

Mar 22, 19:10

Global South Seeks Fairer Financial Governance at Beijing Forum

The 2025 Global South Finance Forum in Beijing underscored the need for fairer global financial governance, highlighting the Global South's significant economic contributions (over 40% of the global economy and 80% of its growth) despite limited influence in international systems; participants calle...

Global South Seeks Fairer Financial Governance at Beijing Forum

The 2025 Global South Finance Forum in Beijing underscored the need for fairer global financial governance, highlighting the Global South's significant economic contributions (over 40% of the global economy and 80% of its growth) despite limited influence in international systems; participants calle...

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How can enhanced South-South cooperation contribute to a more equitable global financial order, and what specific initiatives are being implemented?

Participants emphasized the need for a fairer, more equitable international financial order to reflect the Global South's significant economic contributions. Vulnerabilities to geopolitical tensions, climate change, and rapid digital transformation necessitate a diversified and flexible financial ecosystem. Enhanced South-South cooperation is key to establishing more effective coordination and economic development pathways.

forbes.com

🌐 90% Global Worthiness

Mar 21, 13:14

Sling Money's Viral Growth in Kenya Highlights Stablecoin Utility

Sling Money, a stablecoin payment app, experienced unexpected viral growth in Kenya, reaching seven new users per second after removing its waitlist; this highlights the increasing real-world utility of stablecoins for cross-border payments, addressing inefficiencies in traditional remittance system...

Sling Money's Viral Growth in Kenya Highlights Stablecoin Utility

Sling Money, a stablecoin payment app, experienced unexpected viral growth in Kenya, reaching seven new users per second after removing its waitlist; this highlights the increasing real-world utility of stablecoins for cross-border payments, addressing inefficiencies in traditional remittance system...

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What are the potential long-term implications of stablecoin adoption for financial inclusion in emerging markets?

The rapid adoption of Sling Money in Kenya, despite the presence of M-Pesa, underscores the unmet demand for efficient international transfers. Future growth hinges on expanding accessibility and addressing regulatory hurdles in various jurisdictions; continued success could significantly impact financial inclusion globally.

forbes.com

🌐 85% Global Worthiness

Mar 10, 07:10

Fintech Fuels Global Financial Revolution for Women

Fintech startups are empowering women globally with better access to banking, investment, and entrepreneurial support, significantly impacting financial inclusion and economic participation, as evidenced by M-PESA's success in lifting 194,000 Kenyan households out of poverty, with women experiencing...

Fintech Fuels Global Financial Revolution for Women

Fintech startups are empowering women globally with better access to banking, investment, and entrepreneurial support, significantly impacting financial inclusion and economic participation, as evidenced by M-PESA's success in lifting 194,000 Kenyan households out of poverty, with women experiencing...

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Gender Equality

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How are fintech solutions addressing the gender wealth gap in different regions?

These fintech solutions address systemic gender wealth gaps by providing accessible financial services in regions with limited traditional banking infrastructure. M-PESA, for instance, lifted 194,000 Kenyan households out of extreme poverty, with women disproportionately benefiting.

forbes.com

🌐 85% Global Worthiness

Mar 1, 16:10

Bitcoin Empowers Kibera Residents: Afribit's Circular Economy Addresses Financial Exclusion

In Kibera, Kenya, Afribit's Bitcoin-based circular economy empowers over 500,000 residents lacking banking access through education, waste management programs (paying participants in Bitcoin), and merchant onboarding, addressing financial exclusion and creating jobs.

Bitcoin Empowers Kibera Residents: Afribit's Circular Economy Addresses Financial Exclusion

In Kibera, Kenya, Afribit's Bitcoin-based circular economy empowers over 500,000 residents lacking banking access through education, waste management programs (paying participants in Bitcoin), and merchant onboarding, addressing financial exclusion and creating jobs.

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How does Afribit's use of Bitcoin address financial exclusion in Kibera, and what are the immediate impacts on residents?

In Kibera, Kenya, Afribit uses Bitcoin to empower over 500,000 residents lacking traditional banking access. A waste management program, paying participants in Bitcoin, highlights the system's impact; of 50 participants, 19 lack IDs or bank accounts, and 14 have unused accounts. This demonstrates Bitcoin's role in financial inclusion.

fr.allafrica.com

🌐 75% Global Worthiness

Apr 11, 19:17

Maseera Acquires Egyptian Fintech Platform ADVA

Maseera Holding acquired the Egyptian BNPL platform ADVA to expand its financial services, leveraging ADVA's technology and data analytics for regional growth; ADVA is seeking Egypt's first digital consumer credit license.

Maseera Acquires Egyptian Fintech Platform ADVA

Maseera Holding acquired the Egyptian BNPL platform ADVA to expand its financial services, leveraging ADVA's technology and data analytics for regional growth; ADVA is seeking Egypt's first digital consumer credit license.

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How will ADVA's application for a digital consumer credit license impact its operations and market position?

This acquisition accelerates Maseera's financial inclusion strategy in North Africa, leveraging ADVA's technology and data capabilities. ADVA's application for Egypt's first digital consumer credit license positions it for significant growth in a newly regulated market. This reflects a broader trend of using AI and data analytics for credit underwriting in underserved markets.

elpais.com

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Mar 29, 04:08

Mexico Launches Tourism-Focused Digital Payment Initiative

Mexico's Ministry of Tourism and BBVA bank announced the "Avanzamos por México" alliance to enhance digital payments in tourism, aiming to boost the country's position as a top tourist destination and improve economic conditions in the 177 Pueblos Mágicos.

Mexico Launches Tourism-Focused Digital Payment Initiative

Mexico's Ministry of Tourism and BBVA bank announced the "Avanzamos por México" alliance to enhance digital payments in tourism, aiming to boost the country's position as a top tourist destination and improve economic conditions in the 177 Pueblos Mágicos.

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Decent Work and Economic Growth

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What are the immediate economic impacts of the "Avanzamos por México" initiative on Mexico's tourism sector?

Mexico's Ministry of Tourism and BBVA bank launched "Avanzamos por México", aiming to boost tourism by improving digital payment options for domestic and foreign tourists. The initiative targets increasing Mexico's standing as a tourist destination and improving the economic conditions of its Pueblos Mágicos.

cbsnews.com

🌐 75% Global Worthiness

Mar 22, 01:13

ABLE Accounts: Expanding Financial Access for People with Disabilities

Paul Safarik, a 32-year-old with Down syndrome, used an ABLE account to save for personal expenses, highlighting how these accounts help people with disabilities save money without risking government benefits; the 2014 Achieving a Better Life Experience Act created them in 2016 and will expand eligi...

ABLE Accounts: Expanding Financial Access for People with Disabilities

Paul Safarik, a 32-year-old with Down syndrome, used an ABLE account to save for personal expenses, highlighting how these accounts help people with disabilities save money without risking government benefits; the 2014 Achieving a Better Life Experience Act created them in 2016 and will expand eligi...

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What is the significance of ABLE accounts in improving the financial well-being of individuals with disabilities, and how does it address systemic inequalities?

Paul Safarik, a 32-year-old with Down syndrome, recently used an ABLE account to save for a treadmill and braces, highlighting the account's impact on improving financial stability for individuals with disabilities. This demonstrates how ABLE accounts help overcome financial barriers imposed by asset limits on government assistance programs. The account allowed him to save beyond the typical $2,000 limit without jeopardizing benefits.

elpais.com

🌐 75% Global Worthiness

Mar 14, 04:09

Mexico's Shift to Digital Payments: Increased Inclusion, Persistent Challenges

The 2024 National Survey of Financial Inclusion (ENIF) reveals a decline in cash usage among Mexicans, with a rise in digital payments via mobile phones and electronic transfers, increasing financial inclusion to 76.5% but highlighting persistent gender gaps and informal savings practices.

Mexico's Shift to Digital Payments: Increased Inclusion, Persistent Challenges

The 2024 National Survey of Financial Inclusion (ENIF) reveals a decline in cash usage among Mexicans, with a rise in digital payments via mobile phones and electronic transfers, increasing financial inclusion to 76.5% but highlighting persistent gender gaps and informal savings practices.

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What are the primary implications of the declining use of cash and the rise of digital payments in Mexico, considering the 2024 ENIF data?

The use of cash in Mexico has significantly decreased, with electronic transfers and mobile payments becoming increasingly popular. This shift, revealed in the 2024 National Survey of Financial Inclusion (ENIF), is driven by high mobile phone penetration (over 100%) and is boosting financial inclusion, with 76.5% of Mexicans now owning at least one financial product.

forbes.com

🌐 85% Global Worthiness

Mar 9, 04:07

MetaMask Card Integrates Crypto into Everyday Payments

MetaMask launched a debit card enabling users to spend crypto directly from self-custody wallets via a partnership with Baanx and Mastercard, addressing crypto's "last mile problem" and potentially revolutionizing global payments by increasing dollar access in emerging markets.

MetaMask Card Integrates Crypto into Everyday Payments

MetaMask launched a debit card enabling users to spend crypto directly from self-custody wallets via a partnership with Baanx and Mastercard, addressing crypto's "last mile problem" and potentially revolutionizing global payments by increasing dollar access in emerging markets.

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How is the growth of stablecoin usage impacting the role of the US dollar in the global financial system, and what are the broader economic consequences?

Stablecoins, pegged to fiat currencies like the US dollar, are experiencing explosive growth, with over $160 billion in circulation and trillions of dollars transacted in the first half of 2024. This growth, fueled by platforms like MetaMask, is extending dollar usage globally, potentially reinforcing the dollar's status as the world's reserve currency, even as crypto initially aimed to supplant it.

repubblica.it

🌐 85% Global Worthiness

Feb 27, 01:09

Italian Financial Exclusion: Regional Disparities and Stagnant Social Microcredit

A new report reveals that 1.3 million Italians lack bank accounts, with Southern Italy and low-income families disproportionately affected; although microcredit shows growth, social microcredit remains stagnant, highlighting regional inequalities and the need for policy intervention.

Italian Financial Exclusion: Regional Disparities and Stagnant Social Microcredit

A new report reveals that 1.3 million Italians lack bank accounts, with Southern Italy and low-income families disproportionately affected; although microcredit shows growth, social microcredit remains stagnant, highlighting regional inequalities and the need for policy intervention.

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How do regional disparities in access to credit and the decline in bank branches affect financial inclusion in Italy?

The report highlights regional disparities in financial inclusion, with Southern Italy lagging significantly. While microcredit shows growth (+13.4% in loans, +39.2% in total amount), social microcredit remains stagnant, failing to meet the needs of vulnerable populations.

Showing 25 to 36 of 51 results