Tanzania has witnessed a significant increase in financial inclusion reaching 86% from its lowest level of 16% eight years ago. Mobile money revolution is the driver of such growth with TZS 43 trillion (equivalent to 47% of the country’s GDP) being transferred through mobile phones. Mobile money has helped many Tanzanians including the poor to transact in a fraction of seconds despite the vast distances between some of them. Mobile money services have become popular just in a decade with major players including Vodacom’s M-Pesa, Tigo Pesa, Airtel Money and Ezy Pesa competing against each other for customers. This brings... View Article
The Reserve Bank of Zimbabwe will soon establish a collateral registry for movable property to enable the economy’s informal sector mostly made up of small businesses to use movable property including livestock and vehicles as security against loans from banks. Zimbabwe’s economy is now dominated by informal businesses following the contraction of the formal sector between 2000 and 2008. The Movable Property Security Interest Bill presented this month by the Finance Minister, Patrick Chinamasa aims to make it easy for the small businesses to access funding from local banks. Most small businesses are not in possession of the immovable property... View Article
Letshego, a leading pan-African inclusive financial institution operating in eleven African markets spanning Southern, Eastern and Western African is expanding certain initiatives to further enhance its financial inclusion impact as well as its customers’ convenience. Letshego has an innovative mobile product which uses the USSD-system to allow customers to move money from their Letshego current accounts to their mobile money accounts to facilitate convenient mobile money payments. Convenient access to money is of course a key driver of customer behaviour in terms of choosing to participate in formal savings. Letshego has rolled out this product in markets where it has... View Article
India is the world's largest sourcing destination for the global information technology ("IT") industry with overall annual revenue of USD 130 billion (2016). Click here to read this industry report.
Logistics is an integral activity for economic growth as it involves the management of flow of goods from place of origination to place of consumption. Click here to read this industry report.
The broad application and range of telematics solutions and value-added services is attracting new players, new solutions and new business models which are contributing to rapid expansion of the overall market. Read this IMAP report for more information.
Technological advancements such as digital wallets, apps, increased connectivity, near field communication and Bluetooth have changed the way in which consumers interact with payment technology.
This Dealbook is a summary of some of IMAP's work over 2017.
Trustco Bank, formerly FIDES Bank, has started micro and SME-lending, following the first disbursement from the European Investment Bank (EIB) of its EUR 7.5 million (equivalent) facility. The facility from EIB was part of a ZAR 450 million group funding arranged by Trustco’s advisors, Verdant Capital, which was announced in November 2016. The overall ZAR 450 million of funding is being used to support, Trustco Bank, Trustco Finance (Trustco’s education lending business) and Trustco’s property development business, which is focused on affordable housing. In 2014, Trustco acquired FIDES Bank which had been known as the micro/SME bank in Namibia. The... View Article
In Angola, more than 50% of the population do not own a personal bank account and approximately 60% of the country’s GDP circulates outside the banking system. The banking infrastructure is still underdeveloped in most African countries which is a major drawback for development. Maria Luisa Andrade who spoke at the official opening of Banco Postal this year said: “this is a significant loss to Angolan society, to the extent that these resources, as they are outside the financial system, do not generate taxes, they do not drive credit development and limit the growth of the country.” Banco Postal is... View Article
Current challenges in raising funding for inclusive financial institutions in Nigeria from international markets include, the uncertainty around the foreign exchange policy and risk of central bank rationing of US Dollars when the time comes to service the debt. International investors who have invested over the last few years and have executed offshore currency hedges have been impacted by rationing of US Dollars. International investors today who are looking at the market, are exploring different hedging mechanisms, including back-to-back facilities with local banks, or even providing unfunded guarantees, but many specialist inclusive finance investors are maintaining a watching brief for... View Article