As the largest among the fast-growing economies of Africa, Nigeria is a promising market for mobile financial services. More than 80 percent of adults have access to a mobile phone and a sizeable number (64 percent) own their phones. Though almost 57 percent of Nigerian adults have no access to formal financial services, only 0.1 percent of adults actively use mobile money.
This report reviews the constraints that are hindering the adoption of traditional financial services by the mass market in Nigeria. It then provides an in-depth analysis of the banking landscape for digital finance and reviews barriers to adoption, such as the regulatory context, technical and infrastructure challenges, lack of agent networks and mobile and language literacy among the target demographic.
Smallholder farmers in Africa, Asia and Latin America face many challenges, including little or no access to quality inputs (e.g., seeds and fertilizer), insufficient information about farming "best practices", market prices and weather and limited access to markets and few financial resources. This makes it extremely difficult to increase their level of
These studies aim to understand how mobile phone technology and its usability is impacting poor women’s ability to access and benefit from mobile financial services. Many players assume that if a poor person owns a mobile phone, they are able to use it. We have found that this is a faulty assumption, and believe that usability and “mobile phone literacy” are big issues that are preventing poor women in particular to benefit from mobile-enabled solutions.
Many of the world’s toughest problems, including persistent poverty, are rooted in individual behavior. Behavioral economics and more specifically the emerging practice of behavioral design offer powerful tools to solve these social problems at large scale. Behavioral design applies insights from decades of academic research in behavioral economics and behavioral psychology to develop low-cost interventions with large effects.
This case study looks at how an existing channel of delivery can be improvised and customized to effectively reach and serve the poor in a sustainable way.
This case study analyzes Cashpor’s Business Correspondent (BC) model from a business sustainability perspective.
Grameen Foundation announces the release of the operational overview report of Easypaisa, the largest branchless banking service in Pakistan. The report, commissioned by Grameen Foundation via the South Asian Micro-Finance Network (SAMN), identifies key factors that have enabled Easypaisa’s success.
This report—based on a representative state-wide study of microfinance in Karnataka, India—demonstrates that it is possible and necessary for the microfinance sector to measure and understand itself through a strongly and consistently pro-poor lens and make decisions based on this.
It is estimated that at a country level in India, a mere 20% or less of the 100 million savings accounts opened so far are active and the rest 80% of the accounts become dormant. Dormancy is a concern as it indicates that the newly banked are not using their accounts and therefore are not effectively leveraging opportunities to climb out of poverty.