The process for this diagnostic was carried out by the Mobile Money for the Poor programme, in collaboration with the Zambian Ministry of Finance, in order to map the landscape of payments by the Government of the Republic of Zambia and to identify which payments are made in cash and what proportion is digitized. The diagnostic used a methodology designed for the Better Than Cash Alliance that has been used in five other countries.
Have you ever heard of M-dorado? The all-digital heaven, where digital financial service (DFS) transform - improve- people’s lives, make it easier and more affordable to do business, enhance transparency and defy corruption and bad governance. Without jumping the gun, you can say Africa is well on its way to M-dorado. Take Kenya: in 2015, over 15 million M-Pesa mobile money accounts were active and over 58% of the country’s adult population used a digital wallet.
Becoming an agent is one of the simpler methods FSPs and MFIs can utilize to enter the digital finance arena. In this model, the FSP acts as an agent for a DFS provider (often an MNO) and offers the provider’s products and services through the FSP’s own branch network.
Learn if becoming an agent is right for your FSP or MFI with this step-by-step guide. Be an Agent,is DFS Toolkit #2 in the MicroLead Series: How to Succeed in Your Digital Journey.
“Leaving nobody behind” is the very foundation of the Sustainable Development Goals. Therefore, we are happy to be working on this important initiative - which will make sure that more people in Sierra Leone have access to finance - together with the Bank of Sierra Leone
Sunil Saigal, Resident Coordinator, United Nations in Sierra Leone
The World Food Programme (WFP) and the United Nations Capital Development Fund (UNCDF) sign an agreement in an effort to scale up WFP’s assistance to support the local economy in Sierra Leone through innovative cash-based transfers. The partnership will enable WFP to build a robust system for delivering cash transfers to the most vulnerable households.
More people than ever before are impacted by humanitarian crises – some 89 million people were affected by natural hazards and 65 million displaced by violence and persecution in 2016. Those most vulnerable to crisis are also those who live in poverty. The connection between response and resilience has never been more striking.
Mobile phones have transformed lives in rich and poor countries alike. Of the world’s 7 billion people, there are now 6 billion phone subscriptions globally compared with 2 billion or so bank accounts. Across 40 UN-designated Least Developed Countries (LDCs) surveyed by UNCDF, mobile phone penetration was at 30% while access to a bank account was 14% on average. More striking are the growth rates – with mobile phone penetration growth reaching double digits, growing at a rate of 23% a year, while financial access growth is flat.