Smallholder farms make up over 60% of sub-Saharan Africa’s population, according to data from McKinsey, yet only about 20% of this region’s gross domestic product (GDP) is generated from agriculture and agribusiness. These figures reflect the inefficiencies and the challenges smallholder farmers face in the...
Uptrend Credit Solutions is shifting its business focus from credit repair only, and will be offering a wide range of services including financial literacy, credit reporting and credit restoration, according to a Monday (March 28) press release. In the coming months, Uptrend will launch several...
In Africa’s ever-changing payments ecosystem, innovation is the norm. In just two decades, major transformations have taken place across the continent — and virtually every few years, a new shift takes place. From the rise of telco-led mobile money, notably with PESA in Kenya in...
In an interview with the Buenos Aires Times on Friday (Feb. 4), Argentina Central Bank Governor Miguel Ángel Pesce applauded FinTechs for serving an underbanked population, but also cautioned that they were not financial institutions. Pesce noted that it’s been “very important to make the...
The FinTech lending startup OneBlinc is introducing a checking account and debit Mastercard to help people who are unbanked and underbanked to better manage their finances, the company said in a press release on Tuesday (Aug. 17). “We want to make access to the latest...
PayPal Holdings said it will deposit $135 million with “mission-driven” financial institutions (FIs) and managers that help members of minority groups “fight barriers to economic equity.” One of the recipients of the San Jose, California-based company’s financial infusion is OneUnited Bank, which on its website...
BlackRock has announced several new inductees to its philanthropic Emergency Savings Initiative (ESI), which is intended to boost access for low-cost, friction-saving products for financially vulnerable Americans, a press release said. The five new companies joining ESI – ADP, Best Buy, Self, Truist and Varo...
The Federal Reserve Bank of Atlanta has formed a new special committee to look into ways for those reliant on cash to become more integrated into a digital economy, a press release says. “It is important to make sure that there is not just one...
PNC Bank has gained certification from the Cities for Financial Empowerment (CFE) Fund for a second bank account that limits fees. The nonprofit CFE Fund and the Bank On coalition aim to help low- to moderate-income people gain affordable banking services. The financial institution (FI) will...
