BFA is about to conclude our FIBR (Financial Inclusion on Business Runways) Project, an innovative R&D initiative which sought to demonstrate how smartphones can accelerate and deepen financial inclusion in developing countries. When we launched the FIBR Project in 2015, we outlined a set of assumptions about how increased connectivity and digitization would create “business runways for financial inclusion” for small businesses in Africa, helping to accelerate the ongoing process toward greater inclusion. We assumed that two dynamics would lead these small businesses to become digitally included: 1) Expanding smartphone access would connect them to increasingly available data channels, and 2) newly digitized records and processes would enable them to access digital financial services.

Read three lessons BFA learned in the process here.

Article via Next Billion