This project was a partnership between MSC and Busara to design a strategic plan for donors to empower microenterprises through digital finance. Busara and MSC conducted the comprehensive scoping study across four countries—Nigeria, Kenya, Bangladesh, and India—and identified key areas for donor support. The study’s findings and recommendations will equip donors to strategically support microenterprises and, in turn, enhance the resilience and economic impact of these businesses.
The emergence of new digital platforms presents a crucial opportunity for microenterprises to build businesses, promote financial inclusion, and reduce the gender gap. MSC and Busara conducted a scoping study to develop a strategic engagement plan to guide donors, such as the Bill & Melinda Gates Foundation (BMGF), in funding and programming efforts that use digital financial services for microenterprises.
Busara and MSC conducted the study across four countries in Sub-Saharan Africa, South Asia, and Southeast Asia. Busara focused on Nigeria and Kenya due to their well-established platform innovation ecosystems that feature a wide array of digitally-led products and services. MSC deep-dived into Bangladesh and India, as these countries have a significant presence of microenterprises but face substantial funding gaps.
The study sought to achieve several key outcomes:
The core teams from Busara, MSC, and the BMGF were involved throughout the study, along with regional program officers and industry stakeholders. Regular meetings and updates ensured that the research strategy remained updated and aligned with the needs of microenterprises. This collaborative approach helped avoid duplication of efforts and ensured that the study addressed the right questions.
The study’s findings and strategic recommendations are now poised to guide donors in their efforts to support microenterprises through digital platforms and ultimately enhance their resilience and economic impact.
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