CGAP

Join us on Sept. 25 for a discussion on unlocking climate finance for all with Sophie Sirtaine, CEO of CGAP. Register to attend » https://lnkd.in/ghA6TVjW #DevexEvent @ #UNGA79 · In partnership with CGAP

According to a 2022 national phone survey in Cote d’Ivoire, 78% of #DigitalCredit borrowers had repaid a #loan late at some point, which was higher than rates observed in #Kenya (47%) and #Tanzania (56%) in 2017, and merited more research to better understand the challenges that Ivorian borrowers faced with digital credit repayment. Drivers of on-time payments, late repayments, and defaults are complex and may depend on cultural, financial, or educational factors. Qualitative research by CGAP and Omedia in 2023 aimed to understand customer profiles, loan usage, and drivers of late repayment in Cote d’Ivoire. While it’s up to key national stakeholders to find the best local solution to the issue of late repayments, CGAP's global experience has shown that it is key to take a #holistic approach where different actors from the #DigitalFinanceEcosystem contribute to making the services more #responsible to consumers. Read more in our latest blog by Antoine Navarro, Eric Duflos & Juan Carlos Izaguirre 🏳️🌈: https://cgap.pub/3T6hhZA

Most of the poorest households in the world are not adapting to #ClimateChange; they're just muddling through. Long-term, sustainable #adaptation is key, and it requires the right mix of information, technology, markets, and finance. But are current strategies too top-down to see the local picture? #FinancialInclusion empowers communities directly to take the lead in their own adaptation journeys. Dive into our latest video to learn more

In fragile states, #FinancialServices often remain inaccessible to people who need them most. 📉 Our research shows that funders can play a critical role in building inclusive, resilient financial markets in fragile countries by: Leveraging humanitarian cash transfers 💰 Understanding informal financial services 💵 Improving local market support 🤝 Find out more 👇🏽 #ActForHumanity #FinancialInclusion

In 2023, CGAP partnered with seven #microfinance providers from around the world to demonstrate how #digitization of the sector can lead to more impactful financial services, lower costs, greater scale, resilience, and adaptability to the changing world. Here, we hear from Taiwo Adesin Joda, Managing Director/CEO of Accion Microfinance Bank Limited, about how digitization has helped their organization serve customers better and potentially expand its reach to more regions across #Nigeria.

#FinancialInclusion is an essential foundation for building a more inclusive, resilient, and green world, but for it to deliver on its promise, we must focus on 3 global priorities: 🌎 Eliminating country-level gaps 🚺 Bridging the gender gap 🚀 Unleashing financial inclusion’s full power By focusing our global efforts, we can develop financial solutions that maximize the impact of #InclusiveFinance for low-income and vulnerable people, households, and small businesses. Learn more: https://cgap.pub/3RoVix4

According to this year’s SOFI report, the UN’s flagship report on food insecurity, a lack of #FinancialInclusion worldwide is one of the central reasons the fight against hunger has been set back 15 years. 💸🌍🌱   #SOFI2024 found that 1 in 11 people in the world, including 1 in 5 people in Africa, were hungry in 2023. Advancing financial inclusion enables marginalized populations to access resources and opportunities for sustainable livelihoods, thereby empowering them to afford nutritious food and break the cycle of poverty and hunger. By fostering economic stability and resilience, financial inclusion can support communities in securing reliable access to food and improving overall #FoodSecurity globally. CGAP is in the early stages of exploring the role of financial services in improving food security. To learn more on how financial inclusion can help enable many of the SDGs, including #SDG2 on Zero Hunger, check out the most recent edition of Igniting SDG Progress Through Digital Financial Inclusion: https://cgap.pub/44MuWrM FAO, International Fund for Agricultural Development (IFAD), UNICEF, World Food Programme, World Health Organization SDG2 Advocacy Hub

How can transactional data help close finance gaps? Micro and Small Enterprises (MSEs) face an estimated $4.9 trillion financing gap globally. The vast majority of #MSEs have never had access to formal loans, and many do not have a formal credit history. Transactional data from sales, expenses, and invoices can have a similar predictive power in credit scoring as credit history. Our research uncovers the details of how credit providers use this transactional data and how it compares to credit history data. As #openfinance continues to grow, more transactional data will become available, unlocking more opportunities for MSEs to thrive worldwide. Learn more here 👇

When it comes to strategies on gender-disaggregated data for women's financial inclusion, peer learning, diversity of approaches to gender data collection and use, and creative solutions in advancing #GenderEquality in the financial sector are key. To this end, financial sector regulators from Colombia, Brazil, Malaysia, and Rwanda came together in Kigali to learn and exchange insights. This collaboration, led by CGAP and the National Bank of Rwanda, highlighted the importance of regulator-to-regulator peer learning in driving gender equality and #FinancialInclusion. Learn more about the key lessons and innovative strategies that emerged from this workshop: https://cgap.pub/3SKCW9D

How can we use #AI tools to protect low-income people from unfair debt collection and other risks? CGAP piloted an AI-powered tool in #India to assess consumer risks in #DigitalCredit by quickly analyzing large amounts of social media posts from customers. Once set up, supervisors can use these systems to track complaint trends in real-time at low cost. Watch now to learn more👇 #InclusiveFinance