Global: Virtual breakfasts at all hours of the day.
Deborah Keller
+41434778899
deborah@impactforbreakfast.com
In Africa, small and medium-sized enterprises (SMEs) represent approximately 80% of total employment. Yet, over 50% of these crucial businesses struggle to access affordable financing solutions. With a median age of 19, Africa is poised to become the world's largest and youngest population by 2050 (McKinsey Report). By 2030, smartphone adoption is expected to rise from 51% to 87% (Ecofin Report). This surge in mobile access, coupled with closing infrastructure gaps and global investment, is driving a digital transformation across the continent. More Africans are entering the global economy, which brings new challenges and opportunities—ranging from the need for more food, shelter, and employment.
The past two decades of rapid digitization in developing economies and the decreasing cost of connected devices have created a unique opportunity to bridge the financing gap for SMEs. The wealth of data generated from digital transactions enables a more precise assessment of credit risks, even for the smallest businesses in informal markets. Innovations harnessing this digital transformation offer new, efficient ways to evaluate and manage risks, paving the way for capital to flow into previously overlooked and untapped markets.
This Impact for Breakfast session will delve into the opportunities digital finance creates for impact investors, focusing on the innovations enabled by digital transformation in Africa and other emerging markets. The discussion will highlight how capital can be effectively channeled to SMEs, informal businesses, and micro-entrepreneurs that drive the bulk of the economy and serve the most underserved populations.
The session will present key findings from the recent GSMA report, "Digitalising Innovative Finance: Emerging instruments for early-stage innovators in low- and middle-income countries," and spotlight practitioners such as Untapped Global, who are driving the adoption of innovative digital finance instruments. Attendees will have ample time to engage with the speakers through a Q&A session.
Please register via Zoom here: https://us02web.zoom.us/meeting/register/tZYqd-mgqTguHdOuVjfk8LytZhDwS3BQbROl
Date: 8th of October, 2024
Time: 4 - 5 pm CEST, 10 - 11 am EDT
Speakers:
Pre-Event Reading and Resources:
Attendees are encouraged to submit questions in advance and explore the following resources to better understand the topics to be discussed:
Join us for this insightful session to explore how digital finance is reshaping the future of SME finance in emerging markets!