AVL’s new podcast series features industry leaders discussing the impact of COVID-19 on their work. This episode features Jacob Haar, the Managing Partner at Community Investment Management (CIM) talking about how fintechs are uniquely positioned to respond to challenges and continue driving inclusive finance in this crisis. “Lending partners that have access to real-time data
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
Microfinance institutions in Rwanda are struggling due to the effects of COVID19. Clients are taking out savings leaving the institutions with less liquidity, according to a recent rapid assessment of how MFIs and SACCOs have been affected by the Coronavirus in Rwanda. According to the assessment by Access to Finance Rwanda, 95% of the microfinance
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.
Inclusive fintech has always had to find a balance between tech and human touch, but the global pandemic is shifting that balance, writes Accion Venture Lab’s Amee Parbhoo. In this blog, Parbhoo writes that during this time, fintechs have to continuously engage and support their customers especially low-income communities for whom in-person interactions are the
As the economic effects of the lockdowns worldwide begin to solidify, businesses large and small are collapsing, write BFA Global’s Coco Dong and Michelle Hassan. In Kenya and China, small and medium enterprises are struggling to stay afloat. Given the difficulty in accessing government support, many owners have found their own solutions to stay in
According to UNHCR estimates, there are 70.8 million Forcibly Displaced Persons (FDPs) worldwide. The global COVID19 pandemic will have severe effects on not just their health but also on their ability to meet their most basic needs. In this timely blog, the authors call for a coordinated global response that ensures that the FDPs have
Senior financial sector specialist Stefan Staschen makes a strong case for open banking in emerging markets and why it would be important especially today in a COVID-19 world. Open banking, he writes, could advance financial inclusion in emerging markets by dealing with some of the pain points related to spending, savings, and credit, usually experienced