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Report: The Productivity Challenge In Financing Inclusive And Sustainable Growth
Small and medium sized businesses’ ability to participate in international markets and global value chains has not been fully developed. A new report, from Business at OECD and B20 and sponsored by the SME Finance Forum, calls on G20 leaders to follow four core recommendations to this end: Pursue balanced reforms that promote productivity,...
IFC Supports Kyrgyzstan In First institutional Private Equity Fund
The funds backed by World Bank’s International Finance Corporation (IFC) will go towards supporting Highland Capital’s efforts towards increasing access to finance for SMEs in the Kyrgyzstan. Key areas include services, healthcare, education and media, according to the article. With a goal of raising $30 million, Highland Capital has raised $15...
Member News: Xero Partnered With Tyro, Australia’s Business-Only Bank to Enhance Its EFTPOS Solution
Tyro is able to offer flexible, same-day settlement and payroll integration to benefit Australian SMEs, due to SME Finance Forum member Xero’s accounting software. Tyro has deleted an extra step of separately processing payroll, instead merchants can submit their information directly through Xero, which is linked to a Tyro Smart Account, according...
Member News: CEO of Standard Chartered Bank Shares His Plans for the Region and Strategic Partnerships Opportunities
In an interview with Bloomberg BusinessWeek, regional CEO of Africa and the Middle East for Standard Chartered Bank, Sunil Kaushal shared his plans and partnerships with India and UAE. Kaushal shared,“Mmy vision is to build up a business which delivers a solid result and generates the right returns for all our stakeholders – but on a sustainable...
Member News: The European Investment Bank Partnered With DLL to Support Dutch and Belgian SMEs
SME Finance Forum member the European Investment Bank (EIB) signed an agreement to provide DLL Financial Solutions with €100 million to support Dutch and Belgian SMEs. Over 200 businesses will be able to benefit from lower interest rates due to the funds that will be split from Belgium and the Netherlands, according to the article. Werner Hoyer,...
Blockchain’s Influence on the Insurance Industry
Medici examines the potential blockchain can have on the insurance industry. According to the article, blockchain is the answer to various stress-points throughout the insurance value chain. Areas where blockchain applications are being developed include: claims management and verification, new product and platform development, and record keeping...
Member News: OPIC Approves Close to $900 Million To Expand Access to Financial Services to Africa, Asia and Latin America
SME Finance Forum member, the Overseas Private Investment Corporation (OPIC) approved approximately $895 million in financing and political risk insurance that will benefit Africa, Asia and Latin America in energy, healthcare, housing and financial services, according to a release by OPIC. The funds will contribute to the following OPIC...
Medici Outlines the Challenges in the SME Lending Requirements
SMEs are still struggling to curate working capital. Medici examines the glitches in SME lending, automation of onboarding customers and loan origination and how banks can make real change in SME lending. Reported errors in the SME lending: Most of the time, banks refuse to lend money to those whose revenue is less than $2 million. Banks view SME...
Video: FinTech Company Yoco Is Making Card Payments Easier for SMEs
Yoco has decreased a process that originally took SMEs weeks to complete down to 10 minutes. Co-founder and CEO of Yoco, Katlego Maphai, sits down with CNBC Africa to share how they are making card payments easy and accessible, in addition to securing R230mn to innovate SME payment services. Maphai shares, it is as simple as going online, paying...
Itaú Unibanco Has Partnered With IFC To Provide Support for Women Entrepreneurs Through an Online Portal Program
Itaú Unibanco will provide a online course entitled, “Plano de crescimento: como transformar negócios em sucesso,” (Growth plan: how to turn business into success) to support women entrepreneurs. In partnership with the IFC and EDUK, a widely known learning platform in Brazil, Itaú Unibanco will develop and provide the course for free, according...