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The Reserve Bank of Australia (RBA) conducted a study detailing the issues plaguing SMEs’ access to finance and the initiatives set in place to help support SMEs conquer financial setbacks.
Key findings examined in the report include:
Keynote is hosting the North American Bitcoin Conference a part of World Blockchain Forum: Investments & ICOs on Jan.16-18 in Miami.
Key themes that will be discussed at the conference include: blockchain technology, bitcoin and ethereum, ICOs, token sale mechanics, investing, regulation, startups and disruption. Companies making an impact in the crypto industry will be available for questions along with network opportunities.
Blockchain has an impact on financial systems around the world, this conference will explore how one can profit from this technology.
A business forum in Lagos, conducted by Centre for Research in Enterprise and Action in Management (CREM) examined the journey of SME funding in Nigeria. Noel Ihebuzor, Phd, Dean of CREM shared the factors inhibiting SMEs from receiving funds to grow. They include:
A law was proposed by Tunisia’s President, Beji Caid Essebsi, that equal inheritance be available for men and women.
Tunisia would be the first country in the Arab world, according to the article to implement equal inheritance, which would result in financial inclusion for Tunisia women.
Right now, “The inheritance law is a significant barrier for women,” shared Nabila Hamza, co-founder of the Tunisian Association for Democratic Women. “It reduces their economic autonomy. Only 12% [of Tunisian women] own a house and only 14% own land.”
The Commercial Bank of Africa (CBA) now has the highest mobile phone loan, allowing their customers to borrow Sh3 million digitally. The Loop platform, received an upgrade and now allows customers to apply for loans.
With default rates at less than ten percent, bank execs are more trusting to move in the direction of the mobile money movement.The General Manager for new business at CBA, Eric Muriuki shared customers are provided overdraft protection of up to Sh100,000 based on their financial history.
Thinking of starting your own business? An interactive game allows for new business owners to test the waters by creating their own business in a virtual world.
A study by Fachhochschule des Mittelstands (FHM), the SME University in Bielefeld, revealed that the demands placed on finance and liquidity management have increased, leading to the proliferation and professionalization of cash management systems. In the study, 280 SME finance managers were surveyed and when compared to previous studies there is now a greater proliferation of professional cash management systems in the SME sector.
Other findings:
In 2013, together with the European Commission, IFAD partnered with the United Nations Capital Development Fund, the Universal Postal Union, the World Savings and Retail Banking Institute, the World Bank and other key factors in order to address the full potential of postal networks in Africa in facilitating the transfer of remittances, reducing their cost, and increasing financial inclusion in rural areas.
There are over 11 million formal SMEs in China and 58% of them are financially constraint according to the MSME Finance Gap 2017. The size of the finance gap is 17% of GDP. Digital and mobile banking opened new opportunities for affordable finance for China’s entrepreneurs by decreasing transaction cost of making a loan.
SME Finance Forum member ICICI Bank, India’s largest private sector bank by consolidated assets, announcee that it has successfully on-boarded over 250 corporates on its blockchain platform for domestic and international trade finance, the most by any bank in India. With this, leading Indian corporates, including ones from the ‘S&P BSE 100 Index’, are now undertaking domestic / international trade finance transactions on the Bank’s custom-made blockchain platform.
