Digital financial services (DFS) ease the burden in how to pay for healthcare, smooth health consumption, and open patients to a wider pool of financial resources. However, the use of DFS for healthcare remains nascent, calling for a collaborative approach among multiple stakeholders.
Micro, Small, and Medium Enterprises (MSMEs) comprise the largest share of companies and employees in low- and middle-income countries. They help end poverty, promote innovation, advance economic inclusion, and create jobs. Formal MSMEs employ 91% and 81% of private sector workers in lower-middle-income and low-income countries, respectively. Hence, MSMEs are enablers of social and economic development.
Contributed by – Fredrick Obura Fredrick Obura is a Nairobi-based journalist and International Center For Journalist Fellow (ICFJ). He can be reached at email@example.com. Africa’s economy continues to showcase remarkable growth potential, with a projected average gross domestic product (GDP) growth of approximately 4% in 2023 and 2024. Against this backdrop, the continent is abuzz […]
Although Digital wage payments are widespread, access to and benefits from them are unevenly distributed. Choice of digital means of wage payment, accessibility and security of income and assets, transparency and privacy, fair opportunities and treatment, and enabling conditions determine the extent to which the benefits of digital wage payments are realized.
Analysts predict Sub-Saharan Africa (SSA) will need a more skilled labor force to absorb new technologies and foster digital transformation. However, there is a persistent underskilling and overskilling mismatch across the continent, with highly educated young people likely to be either unemployed or not utilizing their full skill set when employed.
The benefits of DPGs include reducing duplication of effort, faster adoption and customization of proven systems, and transparency in public service delivery. They also offer opportunities for engaging stakeholders in the design and development process. There are essential conditions for effective DPG and DPI adoption including Harmonized Policy and Legal Frameworks, developing skills and capabilities, following a Market System Development (MSD) Approach and using case-based adoption.
Access to finance has been increasing consistently over the years in Ethiopia. The percentage of adults with an account reached 46% in 2022. Insufficient funds, distance from service points, and lack of documentation are the main reasons for not owning an account.
Managing Funds Through a Semi-autonomous Operating Entity: A Viable Solution to Ethiopia’s Capital-constrained Start-up Ecosystem?
Ethiopia relies on its startup sector to create jobs and build a digital economy through the development of innovative digital products and services. This is hampered by a lack of access to finance at all stages of the start-up journey. A lack of investor support and limited access to early-stage capital from banks or other sources […]
A joint brief by the Center for Financial Inclusion at Accion and the Institute of International Finance remarks technological innovation can be a potential driver for improving the efficiency of agents for customers and themselves.
Consider how different your digital life was just a few years ago. It has undoubtedly undergone significant changes since then. A couple of years back, using your phone to pay for all your utility bills, including fuel, was not commonplace. People generally had less inclination to rely on digital methods for their day-to-day payments.
However, over the past few years, particularly since 2021, remarkable progress has been made in this regard. Not only has there been a substantial increase in user adoption and digital transactions, but there has also been a proliferation of companies engaged in financial services. Although Ethiopia still lags in attaining financial inclusion, especially in rural communities, the progress made in the past few years is worth exploring.