The proliferation of borrower non-financial information shifts dimensions of credit risk management and lending models. This opens new ways of sharing borrower information and extending credit. Allowing fintech products such as the ones discussed in this paper to operate under sandbox arrangement protects the sector and the data subject from malpractices by fintech companies. This also allows regulators to appreciate them and amend the laws accordingly while maintaining the sector’s safety, ensuring delivery of efficient financial services and thereby allowing for financial inclusion for initially marginalised populations. Big data and artificial intelligence bode well for the availability and analysis of information which can be used in designing suitable products for consumers, thereby driving financial inclusion. However, possible elements of malpractices in these technologies create room for the improvement of regulatory legislation and overall product development. To further smoothen the use of data technologies in the lending market, regulators should consider.download full publication
“We can no longer continue to make policies for ourselves, our countries, our region and our continent on the basis of whatever the westerners will give us. It will not work, it has not worked...Our responsibility is to charter a path which is about how we can develop our nations ourselves.”
“only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That is our basic function: to develop alternatives to existing policies, to keep them alive until the politically impossible becomes the politically inevitable.”
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“Basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society.”
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“I would like to say a big thank you to PPIAI for the PPIAI-coding class initiative. Recently I was informing a brother in about the python language course that we are learning and there is a gentleman who was sitting next to us listening to our conversation and just after he asked me if I already knew how to code in python I said not yet but I'm still learning. The gentleman in question gave me his contact and asked me to call him at the end of my training because he has a team of developers and he is looking for someone who masters the python language. Now I can see how this training is precious and constitutes a real opportunity for us Africans. I would also like to encourage my classmates to hold on because the training will really help us in a dimension that will even surprise us.”
"The fundamental cure for poverty is not money but knowledge."