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This blog is part of a series documenting our program’s journey to accelerate the development of inclusive payments systems for universal access to financial services in Africa. #IAmAfricaNenda
Accelerating Financial Inclusion in Africa: The Journey Toward Inclusive Instant Payment Systems
Miriam wakes up early in her small village in rural Uganda, determined to make the most of her day. Her dreams are as vibrant as the fabrics she sews: to buy a second sewing machine, hire an assistant, and turn her small business into a reliable source of income for her family.
However, as one of Africa’s 400 million unbanked individuals, Miriam faces daily financial uncertainty. Without access to formal financial services, she stores her earnings in a tin box under her bed.
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Financial inclusion
What does it feel like to be unbanked?
Last year, while I attended the Mobile World Congress in Barcelona, my handbag was stolen. Suddenly, I found that I had no identification document, no debit or credit card, and no cash. Throughout this ordeal, I depended on my colleagues to loan me cash. I have never felt so vulnerable, excluded, with no control over accessing my finances or a solution to cover my expenses. It was quite daunting.
SIIPS
