Transitioning the informal economy to a formal one
Developing countries often prioritize the formalization of enterprises in their MSME development policies. The benefits of formalization include increased access to credit, higher productivity, and better social protection, while governments gain from a higher tax base. However, informality continues to persist despite these apparent benefits. This blog stresses on the need to modulate our approach to formalization of the informal economy and explores three principles on how the digital economy can enable this process.
May 18, 2023
A crisis is a terrible thing to waste: Let us design a social security program for gig workers!
This blog highlights the need for a social security program for tech platform based gig workers, a subset of informal workers. We highlight the unique features of gig workers, and the enabling technology and formal financial ecosystem that can fulfil the promise of a safety net for gig workers. We also highlight the role of the government in regulating and financing such a scheme.
May 21, 2020
Formal financial services, informal workers: How can financial services work for the gig economy?
The informal sector offers abundant opportunities for the youth in Kenya to generate income, though it has its challenges like poor and irregular pay and a host of other challenges. Read more on what can be done for the gig platform economy to offer better working conditions for the informal workers.
May 20, 2020
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