PHOTO CREDIT: SANTA CLARA UNIVERSITY, ICT FOR DEVELOPMENT, KENYA
ICT for Development is a Miller Center GSBI Alumni in Kenya that has developed mobile training to reach underserved communities in East Africa.
Financial Services Rationale More than half the worldâs working-age population does not have access to highquality, affordable financial services (Global Financial Inclusion, McKinsey). To better take advantage of lifeâs opportunities and shield themselves from economic shocks, these underserved people and their households must be able to save, borrow, insure against risk, and make payments knowledgeably, safely, and affordably. Furthermore, widespread use of mobile phones in emerging markets and digital transaction platforms has enabled the large-scale expansion of mobile financial services to underserved people, which is an investment opportunity. Types of Investments Investments might be made in the following areas: ⢠Mobile payment systems that serve the poor or unbanked ⢠Products and services that extend financial services throughout base-ofpyramid markets ⢠Microfinance funds that effectively promote livelihoods in underserved communities 28
