Article (French) - Pimenter l'inclusion financière - 2024-12-10
- Communications
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- Title
- Article (French) - Pimenter l'inclusion financière - 2024-12-10
- Author
- Mastercard Foundation
- Year
- 2024
- Publication/Event Date
- December 10 2024
- Abstract
- This article, published on December 10, 2024, details the "Spicing Up Financial Inclusion" initiative, a Mastercard Foundation's partnership with Kifiya Financial Technology in Ethiopia to strengthen the financial landscape. This collaboration launched the E-Commerce MSME Market Place program, which utilizes the AI credit scoring platform, Qena, to provide MSMEs with access to uncollateralized credit. This solution bypasses traditional lending barriers, such as the need for assets or credit histories. The story of entrepreneur Yemariamwork Alemayehu exemplifies the program’s success; an initial loan allowed her to expand her spice trade business, secure premises, and employ six other young people. She received over 1.4 million Ethiopian Birr (US$11,300) in working capital. Kifiya's innovative work was internationally recognized when they won the Product Innovation of the Year award at the Global SME Finance Forum on September 17, 2024.
- Resource Subject
-
- Technology
- Innovation
- Keywords/Access Points
- Spicing Up Financial Inclusion initiative; Kifiya Financial Technology; E-Commerce MSME Market Place program; Qena; Yemariamwork Alemayehu; Spice Business
- Geographic Locations
-
- Ethiopia
- Language
-
- French
- Demographic Groups
-
- Youth
- Special Collections
-
- Foundation Corporate Announcements
- Archival Record ID
- MFA.2024.2406