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Showing posts for "Financial Inclusion"

Democracy in Development: Insurance Innovations for the Poor

by Isobel Coleman
Carpenters carry a coffin shaped in the form of a fish over the main road in Teshie, a suburb of the Ghanaian capital of Accra, January 22, 2004. Funerals are important [social] occasions in this West African country and elaborate, brightly colored coffins have become an art form. Picture taken on January 22, 2004 (Wolfgang Rattay/Courtesy Reuters). Carpenters carry a coffin shaped in the form of a fish over the main road in Teshie, a suburb of the Ghanaian capital of Accra, January 22, 2004. Funerals are important [social] occasions in this West African country and elaborate, brightly colored coffins have become an art form. Picture taken on January 22, 2004 (Wolfgang Rattay/Courtesy Reuters).

Yesterday on my blog, I wrote about the obstacles that prevent poor people from obtaining insurance—and the innovations that are upending this reality. I focus on Ghana, where the organization MicroEnsure is offering low-cost life insurance tied to mobile phone use and savings accounts. As I explain: Read more »

Emerging Voices: Nicole Tosh on Empowering Girls Through Cash Transfers

by Development Channel Staff
Malian refugee children attend a school in the Mbera refugee camp, about 40 km (25 miles) from the border with Mali on May 24, 2012 (Joe Penney/Courtesy Reuters). Malian refugee children attend a school in the Mbera refugee camp, about 40 km (25 miles) from the border with Mali on May 24, 2012 (Joe Penney/Courtesy Reuters).

Emerging Voices features regular contributions from scholars and practitioners highlighting new research, thinking, and approaches to development challenges. This article is from Nicole Tosh, a program associate with the Global Assets Project at the New America Foundation. She discusses how cash transfers can empower girls living in poverty and the technological innovations that stand to facilitate cash transfers.

Read more »

Democracy in Development: Bangladeshi Politics and the Grameen Bank’s Uncertain Future

by Isobel Coleman
Bangladeshi Nobel laureate Muhammad Yunus arrives in court for a hearing in Dhaka, Bangladesh, March 7, 2011 (Andrew Biraj/Courtesy Reuters). Bangladeshi Nobel laureate Muhammad Yunus arrives in court for a hearing in Dhaka, Bangladesh, March 7, 2011 (Andrew Biraj/Courtesy Reuters).

Microfinance undoubtedly figures among the most important development innovations in the past several decades. Beginning in the 1970s, microfinance pioneers promoted the radical idea that it was possible to unlock the talents and energies of the poor themselves by providing them with small loans without collateral – a concept dismissed by traditional financial institutions. Over the years, as the industry has grown and evolved,  it has also attracted substantial critical attention, including in books like David Roodman’s Due Diligence: An Impertinent Inquiry into Microfinance. Today, as debates over regulation and best practices continue, microfinance is regarded as one tool for poverty reduction, women’s empowerment, and financial inclusion, but far from a silver bullet for development. Read more »

Democracy in Development: The Slow Shift from Cash Economies to Mobile Banking

by Isobel Coleman
A man leaves an M-Pesa booth after a transaction in Nairobi, Kenya on May 12, 2009 (Noor Khamis/Courtesy Reuters). A man leaves an M-Pesa booth after a transaction in Nairobi, Kenya on May 12, 2009 (Noor Khamis/Courtesy Reuters).

Today on my blog, I discuss how mobile money stands to reduce poverty by making financial services more inclusive and accessible–as well as the obstacles to fulfilling this possibility. As I write: Read more »

Democracy in Development: An Update on Mobile Technology in Development

by Isobel Coleman
A vendor hawks second-hand mobile phones at the sprawling Kibera slum, one of the largest and poorest slums in Africa, near Kenya's capital Nairobi on August 26, 2011 (Noor Khamis/Courtesy Reuters).A vendor hawks second-hand mobile phones at the sprawling Kibera slum, one of the largest and poorest slums in Africa, near Kenya's capital Nairobi on August 26, 2011 (Noor Khamis/Courtesy Reuters). A vendor hawks second-hand mobile phones at the sprawling Kibera slum, one of the largest and poorest slums in Africa, near Kenya's capital Nairobi on August 26, 2011 (Noor Khamis/Courtesy Reuters).

This week on my blog, I featured a two-part series on mobile technology in the developing world. On Tuesday, I wrote about how mobile phones are enabling people in the developing world to access banking services and obtain life insurance. On Thursday, I discussed how mobile technology helps NGOs extend resources and aid to those in need—and how it helps evaluate the impact of these projects. As I write in Tuesday’s post: Read more »

Emerging Voices: Vishnu Sridharan on Cash Transfers and Financial Inclusion

by Development Channel Staff
This map shows countries implementing anti-poverty social protection programs that include cash transfers and reach more than 5,000 individuals. Countries with an orange circle have started or expanded their programs in the past three years. (New America Foundation. Global Savings and Social Protection Database. July 2012.) This map shows countries implementing anti-poverty social protection programs that include cash transfers and reach more than 5,000 individuals. Countries with an orange circle have started or expanded their programs in the past three years. (New America Foundation. Global Savings and Social Protection Database. July 2012.)

This article is from Vishnu Sridharan, program associate with the Global Assets Project of the New America Foundation. Sridharan analyzes efforts undertaken so far to link cash transfers for low-income families to financial services, such as bank accounts. This approach promises large development gains, he argues, but early experience is mixed. Read more »