Source: Better Than Cash Alliance |

West Africa launches new payments digitization agenda

New report: Worker payments digitization for economic recovery and decent work

In Senegal, 9 out of 10 workers are paid in cash. Most are temporary workers and excluded from health insurance. A survey revealed that 77% of temporary workers would be willing to receive their wages digitally if this gave them access to health insurance. These are some of the major findings…

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    • Senegal: Digitizing payments could add FCFA 104 billion to GDP every year (1)
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Source: Better Than Cash Alliance |

Senegal: Digitizing payments could add FCFA 104 billion to GDP every year

By digitizing 50% of all national payments, Senegal’s economic growth would increase by over FCFA 104 billion (over USD 177 million) per year

After making good progress on financial inclusion (https://GlobalFIndex.WorldBank.org/), Senegal has turned its attention to digitizing payments in order to speed up its growth and inclusive development. By digitizing 50% of all national payments, Senegal’s economic growth would increase by over FCFA 104 billion (over USD 177 million) per year. The finding…

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Source: Better Than Cash |

New UN report reveals momentum for digital payments in Ghana could save over GHS 1 billion within next four years

With 37 percent of the value of all payments now made digitally, Ghana is on course to be a leader in the region, with great potential to expand economic opportunities for businesses

At an event bringing together key government and business players, the Ghana’s Ministry of Finance (www.MoFep.gov.gh) and the UN-based Better Than Cash Alliance (www.BetterThanCash.org) released a report (http://APO.af/d1d9MT) documenting the country’s progress in creating an economy where everyone can pay and get paid digitally, instead of cash. The results show…

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Source: Better Than Cash |

UN study: Digitization of Kenyan farmer payments helps tackle poverty

One Acre Fund cut payment losses and collection costs by over 80 percent, boosting farmers’ satisfaction and economic opportunity

A new case study (http://APO.af/v5Wxdm) by the United Nations-based Better Than Cash Alliance (www.BetterThanCash.org) shows how agriculture nonprofit organization One Acre Fund (www.OneAcreFund.org), in partnership with Citi Inclusive Finance (www.CitiInclusiveFinance.com), successfully digitized loan repayments for farmers in Kenya. This move significantly boosted transparency and efficiency, driving economic opportunity and financial…

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Source: Better Than Cash |

New United Nations Study: Digital payments could boost tax revenue by nearly US$500 million each year and drive economic modernization in Tanzania

Findings illustrate how the private and public sector could work together to modernize economies, improve transparency and support financial inclusion and growth

A new study (http://APO.af/kUWsh0) from the United Nations-based Better Than Cash Alliance (www.UNCDF.org/en/btca) provides findings about the large potential gains for governments, businesses and citizens when digitizing payments. Many emerging economies are grappling with how to modernize their economies, improve transparency, drive sustainable growth and advance financial inclusion. This study on Tanzania’s digital payment…

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Source: Better Than Cash |

New United Nations study finds digital payments to Ebola response workers saved lives and $10 million

By using digital payments to pay Ebola response workers, Sierra Leone massively cut payment times, avoiding large-scale strikes and ensuring a stable workforce to defeat Ebola. Sierra Leone’s experience shows the critical importance of preparing early for digital payments before crises hit.

Mobile phones serving as digital “wallets” for payments to response workers proved an invaluable tool in Sierra Leone’s response to the Ebola crisis, according to a new study from the United Nations-based Better Than Cash Alliance (www.BetterThanCash.org).  With economic instability, natural disasters and political conflict now taking place at unprecedented…