UNCDF is proud to announce a new exciting initiative for 2017! In partnership with Child and Youth Finance International (CYFI), UNCDF is embarking on an advocacy campaign titled “#BankTheYouth,” which seeks to increase access to responsible, accessible and affordable financial services for youth.
by David Jackson, Director, Local Development Finance at UNCDF
Africa has seen over two decades of rising investment, including an exponential rise in foreign direct investment that has rebounded from the 2008 global financial crisis. But this investment is not accompanied by the requisite economic and social transformation that would allow the poorest countries to provide their citizens with the same type of sustainable opportunities seen in developed countries.
By Ramatolie Saho, Senior Associate, Product Development, Women's World Banking
During Women’s World Banking’s Making Finance Work for Women Summit last November, Chief Product Development Officer Anna Gincherman moderated a conversation with three leading banks to understand how they are reaching underserved market segments, including women and youth, through innovative savings products.
An emerging set of new applications illustrates the power of building on digital finance models to bring innovation for achieving the Sustainable Development Goals (SDGs).
This new paper ‘Delivering Financial Education in Africa’ presents challenges, institutional responses and potential solutions from YouthStart partners in designing and rolling out their non-financial service offerings, linked to formal services, for youth. Looking more closely at these challenges and solutions is meant to be helpful for other FSPs and practitioners aiming to develop and deliver targeted financial education to low-income youth clients unfamiliar with formal financial services.
Using mobile data for development is growing in importance to a wide range of development actors. There are a variety of different uses and considerations when using mobile data. As noted by UN Global Pulse, call data records (CDRs) provide several dimensions of analysis that can be measured and used by the mobile network operators (MNOs) and other businesses and organizations to identify mobility, social interaction and economic activity.
In September 2011, in partnership with The MasterCard Foundation, UNCDF expanded its global MicroLead programme for another six years. With this new funding, MicroLead provides grants on a competitive basis to microfinance institutions, commercial banks and financial cooperatives operating in sub-Saharan Africa pursuing a savings-led approach to expand financial inclusion in underserved markets.
Increasing access to financial and nonfinancial services by young people in developing countries has become an important priority for financial inclusion practitioners in recent years. In response, UNCDF developed a regional programme — YouthStart — to pilot approaches by financial service providers to develop affordable, relevant and accessible financial products for young people in eight Least Developed Countries (LDCs) in Africa.