How can customized and bundled digital financial services improve the lives of women micro and small entrepreneurs operating from open-air and cross-border markets? A case from Kenya
Our blog highlights the challenges that stop financial services providers from developing cheaper, long-term credit that can unlock productive credit for women micro and small entrepreneurs operating from open-air and cross-border markets in Kenya. It also examines solutions these financial services providers can employ to serve these women effectively.
Can access to smartphones bridge the digital divide in sub-Saharan Africa?
Mobile phones are a useful tool to fight poverty and increase household income and consumption. Sub-Saharan Africa faces multiple barriers to the uptake and usage of mobile phones, such as affordability and lack of awareness of mobile internet, digital literacy, and digital capability. Read our blog to understand how agents can assist poor communities in shifting to internet and app usage through mentoring and assistance.
How can financial institutions provide handholding support for the elderly?
Bhupen, a young chef from Tripura, India, uses mobile apps for remittances, as well as merchant and bill payments. He has grown fond of digital payments after his coworkers in New Delhi introduced him to payment apps. However, he discovered a different situation when he returned home to Tripura during the second wave of COVID-19. He tried to introduce his elderly father to the mobile-based payments ecosystem after seeing him risk infection to make monthly recurring deposit (RD) payments in the post-office. Bhupen and others highlight the digital revolution brewing in rural Indian households. This blog examines how we can replicate this approach beyond India to extend digital financial services to the elderly and make them digitally self-reliant.
Women in open-air and cross-border trade in Kenya: Insights from the financial diaries research
The Bill & Melinda Gates Foundation commissioned MSC to conduct an action research program to enhance the quality and usage of digital financial services among female traders in open-air and cross-border markets in Kenya. We analyzed 6,000+ transactions in the research. Read our report to see the findings from these financial diaries research.
The need for innovative digital financial services to improve the lives of female micro- and small entrepreneurs operating in open-air and cross-border markets: A case from Kenya
MSC conducted primary research in Kenya to understand the challenges of female traders in open-air and cross-border markets. The study identified limitations that prevent them from using digital financial services comprehensively. We sought to learn why these owners of micro and small enterprises shy from using credit, savings, insurance, and payments. Faith Njeri is one such woman.
Our new blog discusses the financial challenges countless women like her struggle with as they work on their dream of financial independence.
Usage and quality of DFS for women in open-air markets and cross-border traders
In our podcast today, Nicholas Mungai, and Thomas Murayi, financial inclusion experts at MSC, give an in-depth analysis of how digital financial services can bridge the digital divide to make formal financial services available to women, particularly those in open-air markets and cross-border trades.