TerraPay and Visa have today announced a strategic partnership that aims to develop and deliver payment solutions to drive financial inclusion and cashless transactions for domestic payments in Kenya and global remittances to Kenya.

Coronavirus lockdowns cost millions of migrant workers their jobs, halting billions in remittances they sent home.

IFC announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.

The aim of this partnership is to channel much-needed financing to agricultural and small and medium-sized exporters as well as microfinance institutions in Egypt in response to the economic difficulties brought about by COVID-19. 

Symbiotics is broadening its fund research expertise with a new survey on Private Asset Impact Funds.

The COVID-19 outbreak and the economic downturn it triggered gave the fintech sector in Bulgaria a chance to see various opportunities for mass adoption of financial technology in the near future.

In a rare instance of COVID-19 helping a country’ s economy, Pakistan saw a significant uptick in remittances from nationals working overseas in July.

Credo will use the funds to on-lend primarily as working capital for people living in rural areas, with the aim of lessening the impacts COVID-19 has had on food production and the country’s agricultural sector.

Banks continue to dominate the microfinance sector accounting for 41 percent of the loan share of the industry.

The decision of the National Bank of Ethiopia followed the chronic foreign currency shortage the country has been facing for many years.