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Nigeria’s KiaKia using big data to offer SMEs access to loans

Nigerian startup KiaKia is helping to make direct and peer-to-peer consumer and SME loans accessible and obtainable for underbanked and unbanked Nigerians without credit histories through its online proprietary credit scoring and risk assessment algorithm.

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News

UN General Assembly creates International Day for small, medium-sized enterprises
Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly today designated 27 June as International Day for those actors. In a resolution adopted without a vote, the 193-member body also invited all stakeholders, including Member States, UN entities...
How Developing Nations Take The SME Finance Lead
For much of the world, the G20 members are seen as leaders that can usher the rest of the planet into new eras of government and economic matters. The G20 is taking such a role in the process of small business finance reform, encouraging G20 countries to guide developing nations in their development of regulations and policies that make it easier...
Policy, regulatory reforms to facilitate SME financing in Bangladesh
The focus on the small and medium enterprise or SMEs, as they are called, is a departure from concentrating only on large businesses as the route to generate income and employment opportunities of a significant number of people in a country like Bangladesh. SMEs are typically labor intensive industries with relatively low capital intensity and as...
Because Entrepreneurs Need Access to Capital
For entrepreneurs, no matter how hardworking you are and how much potential your business has, one thing is for sure: you need starting capital. Access to credit, with reasonable terms and interest rates, is a critical piece in the business development pie, whether for start-ups and micro-enterprises, small and medium enterprises, or large...
Bill Gates Says Cellphones Are The Key To Solving Poor People's Banking Problems
The Gates Foundation predicts that by 2030, the 2 billion people who don't have a bank account will be making payments and purchases with their phones. They will also use their phones to store money with mobile money providers that will provide them with a full range of financial services — from loans to i nterest-bearing savings accounts.
Taiwan proposes SME support plan for APEC
Taiwan is known to be powered by small and medium enterprises, which make up 98 percent of the total number of businesses, unlike the Korean economy, which conglomerates dominate. In an era when businesses perform on a global scale, trade barriers continue to disappear and regional trade pacts increase, Taiwan has drawn up a plan to help SMEs go...
Platform seeks to facilitate investment into African consumer goods SMEs
In Kenya, technology start-ups attract a lot of attention from the media, investors and government. There are numerous events, investment funds, and platforms dedicated to the growth of tech companies. It is sometimes easy to forget about other industries.
The Business Funding Show is coming to London in 2016
The UK ’ s first ever exhibition to bring together entrepreneurs and finance providers is coming to London in 2016. Taking place in Old Billingsgate, London on 2 and 3 February 2016, the Business Funding Show (BFS) will bring together two key groups in the UK economy - entrepreneurs looking for funding and leading finance-providers. The event will...
Asia’s SMEs Need Growth Capital to Become More Competitive
Asia’s small- and medium-sized enterprises (SMEs) need finance to help them grow into dynamic, internationally competitive companies. This is key to strong, sustainable growth in Asia as the world recovers from the recent global economic slowdown, says a new report from the Asian Development Bank (ADB).
Banks and startups must collaborate for 'Fintech 2.0' revolution
Having made their mark in relatively safe areas such as payments and P2P lending, fintech firms are now preparing to move into the middle and back office, giving them a multi-billion dollar opportunity to help reboot financial services, but only if they collaborate with the establishment, according to a new paper from Santander InnoVentures,...