As a guest on <a href="https://foreignpolicy.com/podcasts/hidden-economics-of-remarkable-women-hero/">The Hidden Economics of Remarkable Women (HERO) podcast</a>, Julia Arnold talks about the Household Dialogues program, where couples meet with financial counselors to initiate open communication about household finances and decision-making, led by the nonprofit CARE in Uganda.

Arnold explains that addressing the gender gap, from bank account ownership to mobile phone ownership, is more than just providing access to resources. The <a href="https://www.careevaluations.org/evaluation/digital-subwallets-and-household-dialogues/">Household Dialogues</a> program helps address the social and normative gender constraints that can also prevent women’s financial inclusion.

She concludes with the hope that providers, governments, donors, and investors all work together to do their part in understanding where the existing gender gaps are and the various ways they can each address them.

<a href="https://www.centerforfinancialinclusion.org/bio/julia-arnold">Arnold</a> is the Senior Research Director for Women’s Financial Inclusion.

Listen to the full episode <a href="https://foreignpolicy.com/podcasts/hidden-economics-of-remarkable-women-hero/?episode=saving-more-by-changing-gender-roles-in-uganda">here</a>.

Foreign Policy Interviews CFI Gender Lead Julia Arnold About Women’s Economic Empowerment

Underserved Groups

Women

News

EL-Zoghbi discusses how COVID-19’s economic shocks are affecting incomes, and elaborates on the population segments most vulnerable to pandemic-induced shocks.

She also describes why financial inclusion alone is not enough, and how financial inclusion – especially when paired with digitization – can help distribute support from humanitarian and governmental organizations to the base of the pyramid.

Furthermore, El-Zoghbi mentions the Microfinance Coalition’s calls to action aimed at awareness-raising among <a href="https://centerforfinancialinclusion.org/microfinance-coalition-call-to-action-for-investors/" target="_blank" rel="noopener noreferrer">investors</a>, <a href="https://centerforfinancialinclusion.org/microfinance-coalition-call-to-action-for-donors/" target="_blank" rel="noopener noreferrer">donors</a> and <a href="https://centerforfinancialinclusion.org/microfinance-coalition-call-to-action-for-policymakers/" target="_blank" rel="noopener noreferrer">policymakers</a>.

Lastly, she predicts that insurance products will see higher demand, and notes that the crisis requires collective action that goes beyond market-oriented solutions.

El-Zoghbi is a member of the Advisory Council of BBVA's <a href="https://www.bbvaedufin.com/en/" target="_blank" rel="noopener noreferrer">Center for Financial Education and Capability</a>.

Read the full article <a href="https://www.bbva.com/en/how-to-strengthen-the-finances-of-the-vulnerable-population-against-the-crisis/" target="_blank" rel="noopener noreferrer">here</a>.

&nbsp;

BBVA Interviews Mayada El-Zoghbi on Financial Inclusion in the Pandemic Era

The elderly, young people, the homeless and casual workers are just some of the groups that might have a difficult time participating in the economy, the article notes. Some do not have the skills to use digital payments, do not have access to the internet, do not have a credit history or a fixed address:

<em>A dependence on cash can be linked to the digital divide that exists in both rich and poor countries, said Mayada El-Zoghbi, managing director for the Center for Financial Inclusion (CFI), an independent U.S. think tank.</em>

<em>“A move to a cashless society will not benefit all groups equally. The groups that are most likely to be excluded will be women, rural communities, and the elderly,” she said.</em>

Read the full article <a href="https://www.reuters.com/article/us-health-coronavirus-banks-britain-trfn-idUSKBN23X0XE" target="_blank" rel="noopener noreferrer">here</a>.

&nbsp;

Reuters Quotes Mayada El-Zoghbi on Going Cashless During the Pandemic

Europe and Central Asia

United Kingdom

Aging and Older Adults

On each episode of Peter Renton's long-running show, the Lending and Fintech Podcast, a different leader in fintech and finance is interviewed in depth. On episode 245, Mayada touches on the following topics:
<ul>
 	<li>Her background in inclusive finance</li>
 	<li>The work that she did on the Global Findex database</li>
 	<li>Why she decided to take the job to be the head of CFI</li>
 	<li>The mission of CFI today</li>
 	<li>Why improving financial inclusion is about far more than technology</li>
 	<li>The geographies they focus on and the types of demographics</li>
 	<li>The relationship between CFI and Accion</li>
 	<li>How COVID-19 has impacted the agenda for CFI</li>
 	<li>The silver lining that could come out of this crisis</li>
 	<li>How it will affect the gender gap</li>
 	<li>What more fintech companies should be doing today in this area</li>
 	<li>The priorities that CFI is focused on beyond the current crisis</li>
</ul>
Listen below, or visit this episode's podcast <a href="https://www.lendacademy.com/podcast-245-mayada-el-zoghbi-of-cfi/">page</a>. Lend Academy's podcasts are available on iTunes and Stitcher.

Lend Academy Podcast features Mayada El-Zoghbi

Challenges and Crises

Enabling Environment

Financial Inclusion Strategy

The <a href="https://www.elespectador.com/economia/colombia-lidera-entorno-para-la-inclusion-financiera-regional-articulo-888988">article</a> (in Spanish) notes that Colombia -- along with Peru, Uruguay and Mexico -- lead the <a href="https://centerforfinancialinclusion.org/global-microscope-2019/">Global Microscope 2019</a> rankings this year. Supported by CFI and the Bill &amp; Melinda Gates Foundation, an updated Microscope is published every year by the <a href="https://www.eiu.com/n/">Economist Intelligence Unit</a>. It assesses the enabling regulatory environment for financial inclusion in 55 countries worldwide.

<a href="https://events.iadb.org/calendar/event/20252?lang=en">FOROMIC</a> is hosted annually by the Inter-American Development Bank (IDB).

In El Espectador: CFI, Mayada El-Zoghbi Mentioned in Microscope Coverage

Colombia

Latin America and The Caribbean

Policy, Regulation and Government Initiatives

Following the <a href="/id2020-summit-2019">ID2020 Summit</a> in September, Eric Noggle, Senior Research Director, talks to Good ID about the intersection between good digital ID and broader socio-political change. Read more in <a href="https://www.good-id.org/en/articles/everything-connected-making-good-id-matter/">Everything Is Connected: Making Good ID Matter</a>.

Eric Noggle, Senior Research Director, on Making the "Good ID" Movement Matter

Open Society Foundations

IDs for Inclusion

The event, “<a href="https://www.unsgsa.org/resources/news/unsgsa-queen-maxima-world-leaders-participate-unga/">Financial Inclusion for Development: Building on 10 Years of Progress</a>,” included the participation of António Guterres, UN Secretary-General; David Malpass, President of the World Bank; Melinda Gates, Co-Chair of the Bill &amp; Melinda Gates Foundation; Dan Schulman, President and CEO of PayPal; and Ajay Banga, President and CEO of Mastercard.

Watch Mayada ask Queen Maxima about measuring financial inclusion's progress within the framework of the SDGs, and how financial inclusion contributes to achieving the SDGs by 2030. Queen Maxima is the <a href="https://www.unsgsa.org/">United Nations Secretary General's Special Advocate for Inclusive Finance for Development</a>.

More video coverage of the event can be found <a href="http://webtv.un.org/search/financial-inclusion-for-development-building-on-10-years-of-progress/6089500721001/?term=finance%20for%20development&amp;lan=english&amp;sort=date">here</a>.

&nbsp;

CFI Managing Director Asks Queen Maxima About Financial Inclusion's Role in the Sustainable Development Goals

Financial Inclusion Week 2019

Trends

Bansal, the <a href="https://www.centerforfinancialinclusion.org/about/what-we-do/the-smart-campaign">Smart Campaign</a>'s Senior Director in South and Southeast Asia, notes that the problem over-indebtedness is more severe in the island country than elsewhere.

She also points out that the government's decision to write off business loans of up to 100,000 rupees falls short.

"One-off measures will not do, says Ms Bansal: Sri Lanka needs properly enforced rules that prevent over-indebtedness and ensure fair treatment of borrowers."

<strong>Read the <a href="https://www.economist.com/finance-and-economics/2019/08/15/microfinance-is-driving-many-sri-lankan-borrowers-to-despair">full article</a> (soft paywall).</strong>

In The Economist: Hema Bansal on Over-Indebtedness in Sri Lanka

The Smart Campaign

South Asia

Sri Lanka

Consumer Protection

Over-indebtedness

Barres's questions that Libra's developers should consider when innovating for the new cryptocurrency are:
<ul>
 	<li>What would data privacy agreements look like if we wanted them to be understandable, fair and with an option to opt out?</li>
 	<li>How would algorithms that did not discriminate be set up?</li>
 	<li>How might fully transparent, low-cost and high-quality products and services that truly solve problems be brought to bear?</li>
</ul>
Read the <a href="https://www.euromoney.com/article/b1g0hvpnhqmyg0/cryptocurrency-facebook39s-libra-is-this-how-we-get-to-responsible-fintech">full article in Euromoney</a>.

In Euromoney: Smart Campaign's Isabelle Barres Poses Questions About Libra

Appropriate Product Design and Delivery

Responsible Digital Finance

The <a href="https://www.centerforfinancialinclusion.org/about/what-we-do/the-smart-campaign/">Smart Campaign</a>'s senior director discussed the motivation behind the survey and forthcoming report with <a href="https://www.newtimes.co.rw/"><em>The New Times</em></a>, a leading Rwandan news provider.

“We want all stakeholders to understand the actual experiences and concerns of the clients they are serving, protecting or advocating for, because there hasn't been a comprehensive survey underpinning the conduct of this digital financial service before,” <a href="https://content.centerforfinancialinclusion.org/people/alexandra-rizzi/">Rizzi</a> said.

Fraud was a "major problem" for about 40 percent of respondents (with 10 percent falling victim themselves), and while nearly 90 percent trust mobile money services, that trust extends to specific services, namely person-to-person (P2P) transfers. There are approximately 11 million mobile money users in Rwanda.

The report will be available for download on this site in the coming weeks. The results were discussed at a workshop of regulators in the Rwandan capital Kigali in March and will be discussed at the <a href="https://sptf.info/annual-meetings/2019-summit-inclusive-digital-future">Inclusive Digital Future Summit</a> in Nairobi in June 2019.

Read the<a href="https://www.newtimes.co.rw/business/mobile-money-services-enjoy-public-confidence-fraud-remains-threat-survey-reveals"> full article</a> and learn more about the <a href="http://smartcampaign.org/tools-a-resources/1075">Client Voices Project</a>.

&nbsp;

&nbsp;

In The New Times: Smart Campaign's Alex Rizzi Interviewed About Client Voices Project Survey in Rwanda

Rwanda

Sub-Saharan Africa

Client Treatment

Fraud

<a href="https://www.khazna.app/" rel="external noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.khazna.app/&amp;source=gmail&amp;ust=1623834388306000&amp;usg=AFQjCNHfdorbThMuoiGB-CgmswcynjMkwA" data-wpel-link="external">Khazna</a>, Egypt’s leading financial super app, has partnered with ADIB Egypt &amp; Masria Digital Payments (MDP), to launch “Khazna Card”, the first of its kind Meeza prepaid card, linked to Khazna’s Super App to empower Egypt’s labor force by extending world class financial services.

Khazna’s corporate partners are Egypt’s largest employers including Hassan Allam Holding, Orascom Construction, Ezz Steel, Fresh, Majorel, Ibn Sina, Lotus Garments, Integrated Diagnostics Holding, Alfa Medical Group, Elezaby Pharmacies, ADES and Spinney’s. Khazna’s leadership team includes executives from Worldremit, Valeo, IBM, Uber, CIB and Arqaam Capital. Khazna is backed by renowned institutional investors, including Accion Venture Lab, Algebra Ventures and Disruptech Ventures.

<a href="https://techmoran.com/2021/06/15/khazna-and-adib-egypt-receive-central-bank-of-egypt-approval-to-launch-khazna-card/">Read more in TechMoran.</a>

Khazna and ADIB Egypt Receive Central Bank of Egypt Approval to Launch Khazna Card

The Chief Investment Officer at Accion, and Chairman of the Board of Accion Microfinance Bank in Nigeria, Mr. John Fischer, in this interview speaks about how financial institutions can aide growth post-covid, plans of his organisation and other pertinent industry issues. Nume Ekeghe presents the excerpts.

<a href="https://www.thisdaylive.com/index.php/2021/06/16/fisher-digital-financial-services-critical-for-inclusive-recovery/">Nigerian outlet This Day</a> interviews Accion's John Fischer.

Fisher: Digital Financial Services Critical for Inclusive Recovery

Accion Microfinance Bank Limited has been recognized for putting structures in place that reduced the effects of the pandemic on the staff and customers of the bank.

John Fischer, chairman of the bank, who commended the management at the bank’s annual general meeting in Lagos, also noted how the bank leveraged technology and optimized innovative solutions to improve customer experience and service.

<a href="https://businessday.ng/banking-finance/article/how-accion-mfb-helped-customers-survive-pandemic-year/">Nigerian outlet Business Day</a> features insights from Accion's John Fischer.

How Accion MFB helped customers survive pandemic year

Mexican payments startup Clip on Thursday said its valuation has jumped to nearly $2 billion after a recent investment led by SoftBank Latin America Fund and Viking Global Investors LP, putting it in a small but growing club of Mexican "unicorns."

Read more <a href="https://www.reuters.com/technology/mexicos-clip-hits-unicorn-status-after-softbank-investment-2021-06-10/">in this Reuters article</a> about Accion Venture Lab portfolio company Clip.

Mexico's Clip hits unicorn status after SoftBank investment

Potential buyers with a low income in comparison to the median income in their region have an especially difficult time becoming homeowners because of the difficulty of saving money. We asked Lauren Bringle, an accredited financial counselor with <a href="http://www.self.inc/">Self Financial</a>, a financial-tech start-up with a mission to help people build their credit and savings, for advice for prospective buyers who face the obstacle of a lower income.
<div>
<div data-qa="drop-cap-letter">
<p class="font--body font-copy gray-darkest ma-0 pb-md " data-el="text">“According to a 2020 customer survey by Accion, 57 percent of Self customers said their top financial goal was to buy a house,” Bringle wrote in an email. “This topic is particularly relevant in the Black community, with 41 percent of Black Americans stating buying a house would be their top money goal if they had good credit, according to a <a href="https://learn.self.inc/more-than-a-number/">survey</a> by Wakefield Research and Self Financial.”</p>

</div>
</div>
<div>
<div data-qa="drop-cap-letter">
<p class="font--body font-copy gray-darkest ma-0 pb-md " data-el="text">A financial counselor from Accion Venture Lab portfolio company Self is quoted <a href="https://www.washingtonpost.com/business/2021/05/25/four-tips-become-homeowner-despite-low-income/">in this Washington Post article</a>.</p>

</div>
</div>

Tips to becoming a homeowner despite a low income

Vice President <a class="autolink" href="https://www.washingtonexaminer.com/tag/kamala-harris?utm_campaign=autolink&amp;utm_source=internal&amp;utm_medium=autolink" target="_blank" rel="noopener noreferrer">Kamala Harris</a> will announce agreements with private sector companies to invest in Guatemala, Honduras, and El Salvador as part of the White House's effort to stem migration from Central America to the southern <a class="autolink" href="https://www.washingtonexaminer.com/tag/border?utm_campaign=autolink&amp;utm_source=internal&amp;utm_medium=autolink" target="_blank" rel="noopener noreferrer">border</a>.

Twelve firms and organizations have signed on, including Mastercard, Microsoft, Nespresso, Chobani, and Duolingo, a White House official said.

Others include Bancolombia and Davivienda, two regional banks, the World Economic Forum, which runs an annual gathering for the political and business elite in Davos, Switzerland, and nonprofit groups such as the Tent Partnership for Refugees, Accion, Pro Mujer, and the Harvard T.H. Chan School of Public Health.

Executives from Accion, Chobani/Tent Partnership, Duolingo, Mastercard, Pro Mujer, and the WEF will sit down in person with Harris at the White House, with others joining the meeting virtually.

<a href="https://www.washingtonexaminer.com/news/harris-business-central-america-migration">The Washington Examiner</a> covers a sit-down with Vice President Kamala Harris about her call to action for the Northern Triangle which Accion CEO Michael Schlein attended.

Harris to announce business investments in Central America amid migrant surge

Vice President Harris on Thursday announced commitments from 12 companies and organizations — including giants Microsoft and Mastercard — for investments in Guatemala, El Salvador and Honduras, as part of her efforts to address the root causes of the surge of migrants at the U.S. southern border.

As part of the “Call to Action” launch, the administration unveiled agreements with 12 entities: Accion, Bancolombia, Chobani, Davivienda, Duolingo, the Harvard T.H. Chan School of Public Health, Mastercard, Microsoft, Nespresso, Pro Mujer, the Tent Partnership for Refugees and the World Economic Forum.

Accion participated in Vice President Kamala Harris' call to action for the Northern Triangle. <a href="https://thehill.com/homenews/administration/555709-harris-to-announce-deals-with-microsoft-mastercard-for-central">Learn more in The Hill</a>.

&nbsp;

Harris announces deals for Central America investments

<div class="el__leafmedia el__leafmedia--sourced-paragraph">
<p class="zn-body__paragraph speakable" data-paragraph-id="paragraph_07359363-4360-CAA9-C531-AE1F78852E9F" data-act-id="paragraph_0"><a href="https://www.cnn.com/2021/04/25/politics/kamala-harris-cnntv/index.html" target="_blank" rel="noopener noreferrer">Vice President Kamala Harris</a> on Thursday will announce commitments from 12 private companies and organizations to invest in the Northern Triangle, a White House official says, marking the latest administration attempt to address the root causes of migration from the region.</p>

</div>
<div class="zn-body__paragraph" data-paragraph-id="paragraph_3FF17CFB-142F-D5A7-F185-AE200BB00E12" data-act-id="paragraph_1">The agreement, dubbed a "Call To Action," includes commitments from major companies like Microsoft, Mastercard, Chobani, Duolingo, Nespresso, Bancolombia and Davivienda. Organizations like Accion, the Harvard T.H. Chan School of Public Health, Pro Mujer, the Tent Partnership for Refugees and the World Economic Forum have also signed onto the initiative.</div>
<div data-paragraph-id="paragraph_3FF17CFB-142F-D5A7-F185-AE200BB00E12" data-act-id="paragraph_1"></div>
<div data-paragraph-id="paragraph_3FF17CFB-142F-D5A7-F185-AE200BB00E12" data-act-id="paragraph_1">Learn more about Vice President Kamala Harris' call to action in which Accion participated <a href="https://www.cnn.com/2021/05/27/politics/kamala-harris-northern-triangle-investments/index.html">in this CNN piece</a>.</div>

Harris to announce private sector investments in Northern Triangle

Twelve companies and groups including Microsoft Corp <a class="Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8" href="https://www.reuters.com/companies/MSFT.O" target="_blank" rel="noopener noreferrer">(MSFT.O)</a>, Mastercard <a class="Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8" href="https://www.reuters.com/companies/MA.N" target="_blank" rel="noopener noreferrer">(MA.N)</a> and Nestle's <a class="Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8" href="https://www.reuters.com/companies/NESN.S" target="_blank" rel="noopener noreferrer">(NESN.S)</a> Nespresso on Thursday will commit to making investments in Central America - a win for Vice President Kamala Harris as she aims to lower migration from the region into the United States.

<a href="https://www.reuters.com/business/us-vp-harris-meet-companies-groups-push-central-america-economic-growth-2021-05-27/">Reuters</a> covers the White House's call to action to support economic opportunity in the Northern Triangle in which Accion is participating.

Microsoft, Mastercard sign on to VP Harris's Central America strategy

Vice President Kamala Harris on Thursday unveiled the agreements of 12 companies and organizations to invest in Guatemala, Honduras and El Salvador as part of the administration’s efforts to deal with a surge of migrants from Central America at the U.S. southern border.

Learn more about Accion's involvement in the White House's call to action to support economic opportunity in the Northern Triangle <a href="https://www.wsj.com/articles/biden-administration-taps-private-sector-to-invest-in-central-america-11622113201">in this Wall Street Journal article</a>.

Biden Administration Taps Private Sector to Invest in Central America

Global inclusive tech accelerator <a href="https://bfaglobal.com/project/catalyst-fund/" rel="external noopener noreferrer" data-wpel-link="external">Catalyst Fund</a> today released its latest report (<a href="https://bfaglobal.com/catalyst-fund/catalyst-fund-remote-due-diligence-report/" rel="external noopener noreferrer" data-wpel-link="external">available for free here</a>) detailing insights into remote due diligence best practices adopted by investors globally since the onset of COVID-19.

The report additionally illustrates three fintech product areas with the highest potential to support inclusive recovery and build resilience for vulnerable populations – insurtech, micro-savings and investment, and financial products for platform workers – with practical tips for investors to better assess startups in these areas.

The report compiles insights gleaned from the 75+ members of Catalyst Fund’s <a href="https://bfaglobal.com/catalyst-fund/circle-of-investors/" rel="external noopener noreferrer" data-wpel-link="external">Circle of Investors</a>, and critical input from three leading inclusive fintech investors  – Accion Venture Lab, Flourish Ventures, and Quona Capital – and  includes <b>insider tips</b>, <b>key metrics</b> investors should be looking for in fintech startups, and <b>ways of adapting</b> to instances in which face-to-face conversations and in-person observations of end users are no longer possible.

Read more in <a href="https://techmoran.com/2021/05/26/catalyst-fund-launches-remote-due-diligence-guide-for-investors-highlights-3-fintech-areas-to-aid-covid-19-recovery/">this piece from TechMoran</a>.

Catalyst Fund launches remote due diligence guide for investors, highlights 3 fintech areas to aid COVID-19 recovery

Vice President Harris met Thursday with chief executives from 12 companies and organizations that have committed to investing in Central America, part of diplomatic efforts Harris is leading to address the root causes of migration from the “Northern Triangle” countries of El Salvador, Guatemala and Honduras.

The 12 companies and organizations that have committed to investing in the Northern Triangle, as part of a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2021/05/27/fact-sheet-vice-president-harris-launches-a-call-to-action-to-the-private-sector-to-deepen-investment-in-the-northern-triangle/" target="_blank" rel="noopener noreferrer">call to action</a> Harris announced Thursday, include Accion, Bancolombia, Chobani, Davivienda, Duolingo, the Harvard T.H. Chan School of Public Health, Mastercard, Microsoft, Nespresso, Pro Mujer, the Tent Partnership for Refugees and the World Economic Forum.

<a href="https://www.washingtonpost.com/politics/2021/05/27/joe-biden-live-updates/#link-CV6CJ2L2SZHK5GM7FXLISIY7TU">The Washington Post</a> covers a sit-down at the White House with Vice President Kamala Harris which Accion CEO Michael Schlein attended.

Harris meets with CEOs who have committed to investing in Northern Triangle countries

“Food trucks were well-equipped to withstand pandemic restrictions, as they’re naturally to-go and socially distanced businesses,” said Luz Urrutia, chief executive of <a class="css-1g7m0tk" title="" href="https://aofund.org/" target="_blank" rel="noopener noreferrer">Accion Opportunity Fund</a>, a nonprofit organization providing small-business owners with access to capital, networks and coaching. “Many food truck owners stepped forward to seize opportunity during a time of great uncertainty,” she said.

Accion Opportunity Fund CEO Luz Urrutia is quoted <a href="https://www.nytimes.com/2021/05/24/business/food-trucks-pandemic-covid.html">in this New York Times article</a>.

How Food Trucks Endured and Succeeded During the Pandemic

American Express is putting $40 million into a fund that will provide loans and other resources to underfunded small-business owners in the U.S., with a focus on minority-owned companies.

American Express <a href="https://about.americanexpress.com/all-news/news-details/2021/American-Express-and-Accion-Opportunity-Fund-Partner-to-Propel-Small-Business-Growth-/default.aspx" target="_blank" rel="noopener noreferrer">announced the program</a> with Accion Opportunity Fund last month, with a stated goal of accelerating small business growth and “building a more equitable financial system."

The fund will focus on historically underfunded small-business owners, such as people of color, women and immigrants.

The Hill covers American Express' program with Accion Opportunity Fund <a href="https://thehill.com/blogs/blog-briefing-room/news/552189-american-express-puts-40-million-into-fund-to-help-minority?rl=1">in this article</a>.

American Express puts $40M into fund to help minority-owned small businesses recover

Helping small businesses owned by people of color, immigrants and women recover from the Covid pandemic is the goal of a $40 million investment <a href="https://www.cnbc.com/quotes/AXP" target="_blank" rel="noopener noreferrer">American Express</a> is making with Accion Opportunity Fund.

The loans, which started going out this week, range from $5,000 to $100,000, depending on business need. The average is expected to be around $28,000 according to forecasts from the nonprofit fund, which aims to help build a financially inclusive world.

Learn more <a href="https://www.cnbc.com/2021/05/06/american-express-puts-40-million-towards-loans-to-small-businesses-of-color.html">in this CNBC piece</a>.

American Express puts $40 million into a fund to provide loans to small business owners of color

<span data-preserver-spaces="true">Nairobi-based insurtech startup </span><a class="editor-rtfLink" href="https://www.lami.world/" target="_blank" rel="noopener noreferrer"><span data-preserver-spaces="true">Lami Technologies</span></a><span data-preserver-spaces="true"> has secured $1.8-million in a seed funding round led by Accion Venture Lab with participation from AAIC, Consonance, P1 Ventures, Acuity Ventures, The Continent Venture Partners, and Future Africa.</span>

Read more about Accion Venture Lab's investment in Lami <a href="https://ventureburn.com/2021/05/kenyan-insurtech-startup-secures-1-8-million/">in this Ventureburn article. </a>

Kenyan insurtech startup secures $1.8-million

Kenya-based B2B and B2B2C insurance-as-a-service platform and API provider Lami has raised US$1.8 million in seed funding to enhance the capabilities of its offering and expand across Africa.

The startup, which earlier this year was chosen by <a href="https://catalyst-fund.org/">Catalyst Fund</a> as part of the <a href="https://disrupt-africa.com/2021/01/28/catalyst-fund-backs-6-african-startups-as-part-of-latest-inclusive-fintech-cohort/">eighth cohort of its inclusive fintech accelerator</a>, can also be used by partner businesses to manage their own insurance needs, and connects partner organisations, such as e-commerce platform Jumia, with underwriters and allows them to offer a superior customer journey.

Read more <a href="https://disrupt-africa.com/2021/05/05/kenyan-insurtech-startup-lami-raises-1-8m-seed-funding-to-accelerate-growth/">in this Disrupt Africa profile</a> about Accion Venture Lab portfolio company, Lami.

Kenyan insurtech startup Lami raises $1.8m seed funding to accelerate growth

Unlike other parts of the world, most African insurance providers neglect the importance of tailored and affordable insurance products to the average African consumer. <a href="https://www.lami.world/">Lami Technologies</a>, a startup out of Kenya armed with $1.8 million in seed money, is looking to change that.

The round was led by<a href="https://www.accion.org/how-we-work/invest/accion-venture-lab"> Accion Venture Lab</a>, a seed-stage investment firm that supports financial services targeted at underserved markets. Other VCs that participated include AAIC, Consonance, P1 Ventures, Acuity Ventures, The Continent Venture Partners and Future Africa.

TechCrunch covers Accion Venture Lab's investment in Kenyan startup Lami <a href="https://techcrunch.com/2021/05/04/kenyas-lami-raises-1-8m-to-scale-api-insurance-platform-across-africa/">in this article</a>.