This video is about financial inclusion through DFS, specifically through digitizing government-to-person (G2P) payments.
In November 2015, UNCDF MM4P programme organized a learning visit to South Africa for 18 Government officials from 5 countries: Benin, Malawi, Senegal, Uganda and Zambia.
It is estimated that between two and three billion people still lack access to a broad range of financial products and services on a sustainable basis. The situation is particularly dire in the Least Developed Countries (LDCs), where often more than 90% of the population is denied access to financial services from the formal financial system.
Massive G2P payment programs such as pensions or other social benefits are often a gateway to modern payment instruments as well as other financial services for the un-banked and under-banked.
Mobile Money for the Poor (MM4P) is a programme launched by UNCDF in partnership with the Swedish International Development Agency (Sida), the Australian Department of Foreign Affairs and Trade (DFAT), the Bill & Melinda Gates Foundation and The MasterCard Foundation. MM4P provides support to branchless and mobile financial services in a select group of LDCs to demonstrate how the correct mix of financial, technical and policy support can build a robust branchless and mobile financial services ecosystem that reaches low income people in LDCs.
For more information, visit https://www.uncdf.org/mm4p or follow @UNCDFMM4P
UNCDF is the UN’s capital investment agency for the world’s 48 least developed countries (LDCs). With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development. This last mile is where available resources for development are scarcest; where market failures are most pronounced; and where benefits from national growth tend to leave people excluded.