Practical Insights on Digital Financial Services

digital financial services

African Digital Financial Services

Innovation in digital financial services is allowing Africans to move up the financial services value chain. From mobile money payments, customers in sub-Saharan Africa are gaining access to mobile banking and other online banking services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone.

African FinTech Innovations

New innovations in fintech are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. Recognizing this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. The falling price of smartphones will also help the region reap the rewards of internet-based solutions.

African Digital Financial Inclusion

In our new paper, we suggest that the challenge now is for the continent to leverage this success in mobile money. It needs to transition to other fintech services and a digital economy. Greater digital inclusion and innovation will not only spur economic growth but a growth that comes with new jobs—the number one preoccupation on a continent that will see more than half the world’s population growth by 2050.

Africa is well positioned to meet its fintech and digital challenges, and with the right policies in place, it could reap a “digital dividend.”

Apply Now: $120,000 for African Financial Technology Startup Companies

Apply Now: $120,000 for African Financial Technology Startup Companies

Published on: Aug 01 2022 by Wayan Vota - 3 Comments
Across the African continent, new financial technology (fintech) companies are driving a inclusion revolution. More people in more countries are moving from cash-based...
Apply Now: $100,000 for African Blockchain Finance Solutions

Apply Now: $100,000 for African Blockchain Finance Solutions

Published on: Jul 25 2022 by Wayan Vota - 1 Comment
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Use Interactive Voice Response to Reach More African Women

Use Interactive Voice Response to Reach More African Women

Published on: Jul 21 2022 by Guest Writer - Comments Off on Use Interactive Voice Response to Reach More African Women
An extract from Strong Connections As we wind our way slowly through the market in Accra, we stop to visit several clients of Opportunity International Savings...
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Published on: Jun 20 2022 by Wayan Vota - 4 Comments
Thoughtfully designed digital financial services such as better access to working capital, on/off ramps from physical to digital and cryptocurrency solutions, affordable...
7 New Blockchain Initiatives Driving Financial Innovation Across Africa

7 New Blockchain Initiatives Driving Financial Innovation Across Africa

Published on: Apr 27 2022 by Wayan Vota - Comments Off on 7 New Blockchain Initiatives Driving Financial Innovation Across Africa
The digital economy is booming across Africa with multiple fintech innovations using blockchain, cryptocurrencies, and Web3 to change the way Africans interact...
The Cryptocurrency Opportunity for African Digital Financial Services

The Cryptocurrency Opportunity for African Digital Financial Services

Published on: Apr 12 2022 by Guest Writer - 2 Comments
Although the African continent receives only 2 percent of the global value of all cryptocurrencies, their rapid growth will transform financing in an increasingly...
Apply Now: $1.5 Million Blockchain and Crypto for Good Program Grants

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Published on: Apr 11 2022 by Wayan Vota - 2 Comments
New blockchain technologies are enabling new products and services that can solve critical challenges of our society. Even better, chain-agnostic Web3 innovations...
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Published on: Apr 04 2022 by Wayan Vota - 19 Comments
The American people seek to improve the lives of millions of low-income and vulnerable people throughout the world by supporting the development of open, interoperable,...
5 Ways to Implement 9 UN Principles for Responsible Digital Payments

5 Ways to Implement 9 UN Principles for Responsible Digital Payments

Published on: Feb 23 2022 by Wayan Vota - Comments Off on 5 Ways to Implement 9 UN Principles for Responsible Digital Payments
The transformative power of digital payments will be invaluable in rebuilding economies from the wreckage of the COVID-19 pandemic, especially for women and girls...
Apply Now: $1 Million for Women’s Digital and Economic Empowerment

Apply Now: $1 Million for Women’s Digital and Economic Empowerment

Published on: Feb 14 2022 by Wayan Vota - 8 Comments
  The economic empowerment of women is a crucial development issue, with digital skills and tools are essential to helping business women cope with the economic...