Informal Finance News

Ivory Coast is moving towards VISA to digitize its government services


Côte d’Ivoire signed on Monday, July 02 in Abidjan, an agreement with the international company VISA, one of the world leaders in electronic payments, to digitize government services and ensure the availability of financial services to a greater number of Ivorians.


Nigeria: No Legal Backing for Virtual Currencies, CBN Warns


 | Source: Premium Times - All Africa


The Central Bank of Nigeria (CBN) on Wednesday cautioned Nigerians to be wary of investments in cryptocurrency, stressing that virtual currencies are not legal tender in Nigeria.

A statement issued by the bank on Wednesday, said cryptocurrencies such as bitcoin, ripples, monero, litecoin, dogecoin, onecoin and exchanges such as NairaEx were not licensed or regulated by the CBN.

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography (the art of...

South Africa: High Bank Charges Force Immigrants to Send Money Home 'Hand-to-Hand'


 | Source: GroundUp: All Africa

A new survey by Cape Town-based refugee rights advocacy group The Scalabrini Centre has found that the high cost of sending money has kept migrants from using formal remittance systems.

New loans from Cameroon's banks up 12 per cent


A report shows that new loans significantly increased in the past months.

Digital Solutions to Steer Financial Inclusion in Africa


ICT can radically transform the market for financial products and services for poor Africans

Banks in Zambia lose millions to the informal saving culture


Less than one third of Zambia's population has a bank account. Especially the informal sector is seeking alternatives to the formal banking. Barbara Namisango explains how the Zambian system called Chilimba works.

Women come together


The majority of unemployed women in Zambia face untold challenges after the death of a husband. The only way out is economic empowerment for innovative widows to support their little businesses. Some organisations jump on board to support such vulnerable groups. Dennis Chanda reports.