Financial technology — or FinTech — is changing the financial sector on a global scale. It is also enabling the expansion of financial services to low-income families who have been unable to afford or access them. The possibilities and impact are vast, as is the potential to improve lives in developing countries.
The financial sector is beginning to operate differently; there are new ways to collect, process, and use information, which is the main currency in this sector. A completely new set of players is entering the business. All areas of finance — including payments and infrastructure, consumer and SME credit, and insurance — are thus changing.
For Tanzania, a predominantly rural economy striving to achieve middle-income status by 2025, a major challenge is to create employment for 800,000 youth entering the labor market each year.
The initiative, funded by the IC4D Trust Fund at the World Bank and launched last September, aimed to assess the feasibility and the market opportunity to turn PET plastic waste into 3D printer filament that can be sold locally or globally, and to then print unique and local marketable products, which could be then traded and sold by waste collectors back to their communities. It also aims to build local capacity on making and digital fabrication in countries like Tanzania. More background on the initiative can be found here.
Much work remains to be done to ensure reliable electricity access for Africa's citizens. A number of complications are making it difficult to achieve this UN Sustainable Development Goal. Yet access rates are expanding in many nations, and technology and design improvements offer opportunities to make rapid leaps forward.
And while the World Bank’s Global Tracking Framework shows progress is being made to deliver electricity to those without, most of it is taking place in Asia. In Africa, it’s a different story.
- Lighting Africa
- electricity access
- Energy Efficiency
- renewable energy
- Energy Access
- Sustainable Energy for All
- sustainable development goals
- Sustainable Development
- Urban Development
- South Africa
- Burkina Faso
- Global Goals
On April 22 and April 29, 2016 representatives from Cote d’Ivoire, Ghana, Kenya, Liberia, Malawi, Sierre Leone, South Africa, and Tanzania came together in a virtual South-South Knowledge exchange hosted by the World Bank in collaboration with the Open Government Partnership to discuss an issue of mounting concern: managing records and information to support open government. These countries – committed to the goal of open government, and a number with new right to information laws and open data initiatives - were motivated by increasing recognition that their commitments to make information open cannot be fully realized until they increase their capacity to manage records and information, especially the growing amount of information in digital form.
This number cannot be emphasized enough – more than 1 billion people around the world live without access to electricity, and 2.9 billion still cook with polluting, harmful fuel like firewood and dung.
As we celebrate Earth Day, we're looking at the ways to bring energy access to those communities and transform lives, and at the same time, protect our planet’s resources. How can we make sure that the right progress for communities is the right progress for the planet?
The good news is that the world is constantly coming up with new technology to address this challenge. We have portable, phone-charging solar lamps and energy efficient cookstoves that are affordable and practical for communities living off-the-grid. The challenge now is how to make sure the right technologies are available in affordable and sustainable ways to the communities that need them most.
Solar Sister is a social enterprise that recruits, trains, and supports African women launch clean-energy businesses in their communities, selling lights and cookstoves to their neighbors. We are organized around the principle that women must be intentionally included in discussions around energy.
On March 24th the global community marks World TB day to commemorate the day in 1882 when Dr. Robert Koch discovered the cause of tuberculosis. At the time, the tuberculosis (TB) epidemic was raging out of control in Europe and the Americas, and this discovery paved the way for millions to be successfully treated. Today, TB remains a major public health threat with 4,000 lives lost daily to this highly curable disease. But this TB day stands out from previous ones.
Advances in earth observation, computing power, and connectivity have tremendous potential to help governments, and us at the World Bank, support better land management, and ultimately reduce poverty and promote shared prosperity.
There are three ways in which these technologies profoundly change the scope of our work.
On March 3rd we will celebrate World Wildlife Day. Adopted by the UN General Assembly in 2013, this day raises awareness of the world’s wild fauna and flora. This year’s theme, "The future of wildlife is in our hands" resonates with those who understand the impact of species loss on the health of ecosystems and human survival.
We are currently in the midst of the sixth, man-made mass extinction of plants and animals. Experts estimate the current loss of species to be between 1,000 and 10,000 times higher than the natural extinction rate. The global Living Planet Index (LPI) shows an overall species decline of 52% between 1970 and 2010. Our increasing demands on nature are driving the two biggest catastrophic threats to species decline- habitat loss and wildlife trade. Habitat loss is a threat to 85% of all species. Exploitation (including poaching and wildlife trade) is the most immediate threat to wildlife populations worldwide.
Illicit trafficking in wildlife is a multifaceted global threat. The problem is particularly acute in Africa, where poaching is leading some charismatic species to the brink of extinction. For example, in 2011 the International Union for Conservation of Nature (IUCN) declared the Western black rhino extinct, largely due to poaching. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Monitoring the Illegal Killing of Elephants (MIKE) program estimated that in the last 5 years, between 22,000 to 25,000 elephants were poached per year across Africa.
In recent years, growing evidence supports the value of cash transfers. Research demonstrates that cash transfers lead to productive investments (in Kenya, Tanzania, and Zambia), that they improve human capital investments for children (in Burkina Faso, Tanzania, Lesotho, Zambia, and Malawi), and that they don’t get spent on alcohol (all over the world).
At the same time, the vast majority of governments invest large sums in training programs, whether business training for entrepreneurs or vocational training for youth, with the goal of helping to increase incomes and opportunities.