10 Things CGAP Predicted Right in 2006

I came across this great article on CGAP that looked at some of CGAP’s predictions in 2006 about the future of microfinance.  Overall, the predictions were pretty good.  In the article Elisabeth Rhyne discusses how each of the preidctions did.  Here’s a look at a few:

“1. Hundreds of millions of poor and unbanked clients gain access to cell phones. Absolutely. If anything, this prediction was too timid. At that time, CGAP foresaw much of the new access through shared phones, and they did not yet imagine the power and accessibility of smart phones.

2. Governments opt to make social transfer payments to poor citizens through banks and other financial institutions, using electronic payments and wireless technology. Increasingly true, as CGAP documented in a 2009 Focus Note. The recently launched Better than Cash Alliance is now turning these many scattered efforts into a global movement.

3. Regulators amend regulations that limit banking transactions to conventional bank branches, allowing other infrastructure to do double duty as virtual branches. Much success; in many countries.  Many regulations have been passed to facilitate agent banking and mobile banking.   However, in a number of countries, new regulations start but do not go far enough to fully enable branchless banking.”

[Read the rest here]

Overall, I’m interested to see the 2020 predictions by the Financial Inclusion 2020

About Jerry Ostradicky

I work in Advertising Operations at Zillow, but LOVE microfinance. I'm always interested in startups, especially non-profits, reach out to me if you're working on anything cool!