There are now more than 20 digital credit offerings in Kenya, with new services launching continually. Hype is building around the potential opportunities these products could bring, but their rapid proliferation is also raising questions about risks.
Is there a business case for microinsurance? Does it provide value for clients? In Tanzania, The MicroInsurance Centre's MILK Project found two clear benefits to clients: getting them to a doctor sooner and efficiently financing health shocks.
CGAP received nearly 200 proposals from digital financial services providers across Africa interested in piloting new products. A look at those proposals — from 30 countries — shows that innovations are spreading beyond hot spots like Kenya.
In Kenya, where nearly everyone knows about mobile money and a majority live within walking distance of an agent, why do nearly 2 in 10 adults lack access to formal financial services? And what can be done to reach them?
The Center for Financial Inclusion at Accion has created the Financial Inclusion 2020 Campaign, which aims to build a movement that mobilizes stakeholders around the globe to achieve full inclusion by the year 2020.
The Financial Sector Deepening Trust of Tanzania (FSDT) undertook a census of cash outlets in the country, and discovered that half of all agents do more than 30 transactions per month and nearly two-thirds of agents are exclusive to M-PESA.
Even though interoperability could potentially benefit the mobile financial services market, thus far there have been few attempts to get mobile money systems to work together. It may be too early for interoperability in some areas, Tanzania seems ready.