One company offers microcredit. The other offers PAYGo financing for smartphones, tablets and solar home systems. In what may be a template for other microfinance institutions, they are helping each other to reach more low-income customers.
By providing a combination of financial and nonfinancial services to over 16,000 smallholders, a social enterprise in northern Nigeria is harnessing the power of agriculture to create jobs for youth and improve livelihoods.
By working together to integrate entrepreneurship training and financial inclusion in Africa, youth-serving organizations and financial services providers could help young people build successful businesses and create jobs.
Digital credit is a testament to the ways in which technology and new business models can assist in the expansion of financial services to low-income households. But it also points to potential hazards of letting a market develop unchecked.