In this blog, senior financial sector specialist Antonique Koning reminds financial services providers and regulators of their duty to protect customers especially now during the ongoing Coronavirus pandemic. Koning writes that the pandemic has left many people financially distressed, with providers’ actions and inaction making it even more difficult for customers. People are making uninformed
BFA’s third wave of the rapid online “dipstick” surveys of low- and lower-middle-income respondents in Ghana, India, Kenya, Mexico, Nigeria, South Africa, the UK, the US, and Vietnam show a further decline in people’s income, savings and increase in expenses especially in countries with the most severe lockdown measures. A summary of the findings Income
In Senegal, most remittance services operate over-the-counter cash collections but lockdown restrictions are making it hard for people to collect the money sent by relatives abroad. Even as remittances dwindle due to lockdowns in the countries where the migrant workers are based, UNCDF says more action is now needed to develop and scale up digital
In this webinar recording, FSD Kenya and BFA Global present key findings from research on the social, financial, and economic impact of COVID-19 on low-income Kenyans. Webinar Presentation Read more blogs on how low-income Kenyans are coping with the changes in their lives induced by Coronavirus here.
CGAP's Elizabeth McGuinness argues that for households and families to recover from the effects of the ongoing COVID-19 pandemic, responses by policy makers and funders must consider which financial products can contribute to the resilience of which groups and under what conditions.
In 2015, Mercy Corps launched the AgriFin Accelerate (AFA) Programme; a six-year, $24 million project with an ambitious goal of reaching one million farmers with digital financial services across Kenya, Tanzania and Zambia. This blog focused on Zambia tells the story of the program between 2015 and 2019 during which AFA and a network of
CGAP’s new publication examines the opportunities for humanitarian actors in Lebanon and Jordan to use the cash and voucher assistance (CVA) programs as a pathway to financial inclusion. Syrian refugees in the two countries receive more than a quarter of their humanitarian assistance in the form of cash and vouchers. CGAP observes that there are
The Kenyan government can and should capitalize on the country’s unique digital financial infrastructure and provide direct cash transfers to help people weather the COVID-19 crisis, writes BFA’s CEO Amolo Ng’weno writes. The cash transfers, she writes, could immediately reach 83% of all adults through existing mobile money accounts. Already, the Kenyan government has digitized
While international funders increased their commitments to women’s financial inclusion by 16 percent between 2016-2018, the funding gap between programs with a gender focus and those without remained big. Using 2018 data on funding for financial inclusion this analytical blog also shows that for example, more than half of the commitments for women’s financial inclusion
In 2019, BFA and FSD Uganda launched the Financial Inclusion for Refugees Project to gain insight into the financial lives of refugees- their incomes, expenditures, and financial flows. Published preliminary findings by BFA and FSD Uganda provide a glimpse into the financial lives of the refugees in Kampala, Nakivale, Bidibidi, and Palorinya camps. Arriving with