Category SDG1 No Poverty

Fintech solutions for the world’s unbanked

Digital financial services (DFS) — including “fintech” startups — are now some of the most effective ways to expand financial inclusion, especially for the world’s 2 billion “unbanked.”  For instance, mobile-money accounts now outnumber bank accounts in 9 African countries . As such, DFS are now being seen as a key driver in the fight to alleviate poverty, the United […]

More girls in tech? Safaricom’s CEO Bob Collymore shares some lessons

“The world has an opportunity to gain trillions of dollars, if [we] can just deal with women’s inequality,” Safaricom’s CEO Bob Collymore told ITU News during an exclusive interview on the sidelines of the Seedstars Summit in Lausanne, Switzerland yesterday. Fresh off celebrating the 10-year anniversary of the launch of Safaricom’s world-famous mobile money service, M-Pesa, Mr. […]

How ICTs can fast forward progress on the SDGs

Information and communication technologies (ICTs) now form the backbone of today’s digital economy. They also have enormous potential to fast forward progress on the United Nations’ Sustainable Development Goals (SDGs) and improve people’s lives in fundamental ways. Building the next generation of ICT infrastructure will power the evolution of smart, sustainable cities and communities worldwide. […]

How digital fiat currency issued by Central Banks will drive financial inclusion

Currency as a store of value, unit of account, and medium of exchange has accompanied society since the dawn of civilization and commerce. Fiat currency issued by the central bank under the law and constitution of each country added trust and governance as well as security to this simple yet powerful instrument. Fiat currency has […]

ITU to join new global initiative to expand digital financial inclusion

Just over two years ago, the Bill & Melinda Gates Foundation joined ITU to establish a  Focus Group on Digital Financial Services for Financial Inclusion. The goal was to tackle some of the main challenges countries face when promoting access to finance through ‘mobile money services’ which have proved successful in a number of emerging […]

Evolution of a startup: How Souktel uses mobile phones to improve lives

As an international aid worker, Jacob Korenblum couldn’t help but see what was driving the cycle of poverty in the Middle East. Unemployment was rampant — particularly among young people. The problem wasn’t always a lack of jobs. Often they were available. But with limited Internet access, no reliable communication link existed between the labor supply and […]

Are we doing enough to protect vulnerable users of mobile money?

Consumers who stand to benefit the most from innovative digital financial services (DFS) are the 2 billion adults globally who have never had access to formal financial services. The world’s poorest people perceive cash to be more reliable and cost-effective than money stored electronically – their perceptions of the risks attached to digital finance differ […]