- Ever wonder how much people live on around the world? Pew Global Research published an interactive map of income distribution by country. It illustrates global trends over ten years—including a 14% reduction in the number of people living on $2 or less per day.
- People who don’t have a formal financial history often can’t access credit services. Systems for verifying identity and sharing data on informal credit would help. The Center for Financial Inclusion urges investors to build these tools to enable loans for unbanked people.
- CGAP identifies three emerging ways the underbanked access credit: digitized social credit, group savings, and for-profit peer-to-peer credit marketplaces.
- Nonprofit Zidisha facilitates microloans for entrepreneurs in low-income countries. By eliminating intermediaries, Zidisha can offer 5% interest rates. The loans have already funded tech education for youth in Nairobi, Kenya.
- Speaking of Nairobi: digital money wallet Bitsoko, based in the capital city, will use funding from the Bill & Melinda Gates Foundation to support digital currency infrastructure and financial literacy in Africa.
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