Côte d’Ivoire is the largest producer and exporter of cocoa beans and cashew nuts, and a top exporter of coffee and palm oil. Nevertheless, Ivorian smallholder farmers who contribute the most to the agricultural sector are largely neglected by formal financial institutions.
Advances in digital technologies and the increased availability of data can be used to support low-income customers to do more than make payments. These advances can help them to make financial decisions and develop strategies to manage their finances.
Financial services providers for low-income customers typically believe that their business case is based on expanding the number of accounts or the number of transactions made by these customers. This is only part of the equation to business success.
There is not enough being done to implement minimum standards in consumer protection for digital credit, and this exposes the industry and consumers to risks such as credit bubbles and mass-blacklisting of consumers in credit bureaus for just a few dollars of debt.
This Working Paper explores three approaches banks in Kenya have used to respond to mobile money. While nonbank mobile financial services can fundamentally reshape the financial sector in a developing market, as they have clearly done in Kenya, mobile services need not represent an existential threat to the traditional banking industry.
By opening up their payments platforms to third parties—such as financial technology companies, software developers, startups, and digital banks—providers can open the door to the development of innovative products that can be brought to market quickly.
This diagnostic provides an analysis of the regulatory framework for DFS in Côte d’Ivoire, including its coverage, conducive features, and gaps and obstacles. The paper also offers recommendations on how to address these issues.
This paper analyses the synergies in the distribution of energy and financial services. It describes how an integrated approach could enable financial institutions to profitably serve low-income populations, thus enabling a significant source of growth.