All major state-owned and private banks have stopped lending to non-banking financial companies (NBFCs) due to concerns about their financial health.

If approved by country’s financial regulator, it would be among the first such service under the social media giant’s Facebook Pay application.

Use of contactless mobile payments — services that once struggled to catch on in the U.S. — is surging as people come to see their phones as the safer way to pay.

In response to the economic disruption from COVID-19 pandemic, the Central Bank of Kenya announced a set of directives promoting digital transactions to curb the spread of COVID-19. These directives have significantly impacted the banks and mobile money agencies.

These efforts are helping to deliver immediate relief to frontline workers and populations within communities most impacted, as well as supporting longer-term investments in programs focused on economic recovery and financial stability.

Consumer use of mobile finance, banking and insurance apps jumped 71 percent in 2019. In 2020, however, they’ve gone from nice-to-have to essential.

Growth in Sub-Saharan Africa has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly economic update for the region.

In 2010, when the microfinance crisis broke out in the southern state of Andhra Pradesh, banks with high exposure to Micro Finance Institutions (MFIs) witnessed a devastating phase.

Five years ago, Amira Hawamdeh took out a loan for $423 to buy buttons and yarn to make purses and sweaters, and winter blankets to sell to her neighbors.

A statement on COVID-19 by the Dutch emerging market impact investors, under the banner of NpM.