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President Kenyatta Applauds Equity Bank for Expanding Economic Trade through Continental Expansion

Kenya’s President Mr. Uhuru Kenyatta during his state visit in Kinshasa, Democratic Republic of Congo (DRC) on 21st April. 2021 commended Equity Bank for its rapid expansion in the continent which has promoted African unity and economic freedom. Mr. Kenyatta was speaking during the official inauguration of the merger between Banque Commerciale du Congo (BCDC) and Equity Bank Congo (EBC) into Equity Banque Commercial du Congo (Equity BCDC) after an approval of the merger by the Central Bank of Congo on...

Regulating Nano Lending in Kenya

By David Cracknel The launch of M-Pesa in Kenya in 2007, heralded significant change that included: Increased financial inclusion by providing relatively low cost, locally accessible financial services.Evolution in channels with customers accessing services through their phones and mobile money agents.The development of a digital finance ecosystem around M-Pesa, enabling an ever-increasing range of services.Reduced barriers to entry for financial technology with service providers able to construct products relatively inexpensively without the need to invest in expensive architecture.Increased returns to information: with new services being information...

USAID Partners with Family Bank, Kenya to support Agribusinesses

The Kenya Investment Mechanism, a USAID funded program has partnered with Family Bank through an initiative dubbed “Pay for Results” to disburse loans worth 500 million shillings to agribusiness in selected 17 counties namely: Wajir, Garissa, Turkana, Kisumu, Kisii, Siaya, Kakamega, Bungoma, Busia, Vihiga, Kitui, Makueni, Taita Taveta, Isiolo, Homa Bay, Migori and Marsabit “The agri-business sector faces challenges accessing affordable credit and technical support. Through this partnership, we will provide affordable credit and capacity building to our SME customers to...

AGRA and PAFO Partner to Support Smallholder Farmers in Africa

The Alliance for a Green Revolution in Africa (AGRA) and the Pan African Farmers Organization (PAFO) have signed a partnership agreement to strengthen capacities of African farmer’s organizations by providing efficient services to small holder farmers especially youth and women. AGRA will support farmer organizations drive policy issues affecting them by scaling them at national, regional, and continental level. The policy issues to be tackled will be aligned to the Africa Agriculture Transformation Scorecard and the Malabo declaration which provide a...

Opinion: Why Central Banks Care about Climate Change

By Dr. Alfred Hanning, Executive Director Alliance for Financial Inclusion Central banks tend not to be seen as innovative climate change pioneers, but as extreme weather events continue to undermine economic stability, real change is afoot. In the global south — where populations tend to be the most exposed and least equipped to cope with the ongoing climate emergency — financial powerhouses are shrugging off their conservative image and promoting new developments in sustainable and green finance. Better known as Inclusive Green...

Food Security Monitor: Africa Food Trade & Resilience Initiative

The March Food Security Monitor Report is out! The report highlights the food security situation in East Africa, West Africa and Southern Africa. In March, the Food and Agriculture Organization of the United Nations (FAO) and the World Food Programme issued an early warning that 20 countries across at the World, out of which 13 are in Africa are food insecure as a result of the covid19 impact, conflicts and displacements, weather shocks, desert locust amongst others. On food trade, the report...

Youth Financial Inclusion Policy Framework

By 2050, the global population is expected to reach 9 billion, half of which will be found on the African continent. Current estimates show that the African population is more than a billion people of whom over 60 per cent are young men and women under the age 35, about 364 million of these are between the ages of 15-35, making Africa the youngest population in the world. Despite their potential most youth face unemployment, underemployment, lack of adequate and sometimes...

Financial Literacy Transforms Refugee Livelihoods

By Tilda Nabbanja, Team Leader Financial Literacy, Bank of Uganda, and Mariam Zahari, Policy Specialist, AFI Bank of Uganda (BOU) has long considered financial literacy a crucial component for enhancing financial inclusion, requiring attention both on a national scale and for targeted vulnerable groups, including Uganda’s sizeable refugee population. With 1.4 million refugees and asylum seekers living within its borders, Uganda is the largest refugee host country in Africa. Most have fled conflict in Burundi, Democratic Republic of Congo, Rwanda, Somalia and...

Exploring Innovative Financial Services for Rural Women’s Livelihoods

The core of agricultural production is usually in rural areas where there is availability of land for farming. Rural women are highly engaged in agriculture and play critical roles across good systems unfortunately they continue to be disproportionately poor and financially underserved with only few financial service providers responding to their specific needs. How can rural women be supported to increase their incomes and resilience? Increasing women’s returns to labour Women face competing demands on their time and unequal access to resources such...

Agricultural Finance Corporation to support women-led Enterprises

The Agricultural Finance Corporation (AFC) in its Programme, Women Affirmative Access Window which promotes financial inclusion in agrifinance will in the next nine months extend Ksh. 1 billion loan to women agripreneurs in Kenya. Women will not be required to provide collaterals as a guarantee to get funding which is usually a big hindrance to access funding especially from financial institutions. AFC’s loan portfolio is at Ksh. 8.7 billion and only 25% of the recipient are women hence the new directive...

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