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Information Security Identification: Confidential
LATIN AMERICA: A STORY OF DIVERSITY,
CULTURAL IDENTITY AND ECONOMIC
DEVE...
THE AFROLATIN@ PROJECT
Founded in 2005 via a Ford Foundation grant, The Afrolatin@ Project
(afrolatinoproject.org) works t...
MOBILE BANKING AND MICRO-FINANCING IN
DEVELOPING COUNTRIES
• M-banking is delivery of financial services outside conventio...
Gross Domestic Product in Latin America
Projected
Country 2010 2011 2012 2013 2014
Argentina 9.2 8.9 1.9 2.8 3.5
Brazil 7....
Since 2000, New Horizon Investment Club has been turning the modest
contributions of its members into substantial returns....
The Garífuna Culture as
Economic Development
Making Capitalism and the Free Enterprise System Work for Poor People!
Develo...
Mobile Banking, MicroFinance and Economic Development in Latin America and the Caribbean - Presentation Bank NY Mellon Oct...
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Mobile Banking, MicroFinance and Economic Development in Latin America and the Caribbean - Presentation Bank NY Mellon October 2013

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Presentation given at Bank of New York Mellon for Latino Heritage Month 2013 in collaboration with Bank of NY Mellon and New Horizon Investments/ The Garifuna Coalition

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Transcript of "Mobile Banking, MicroFinance and Economic Development in Latin America and the Caribbean - Presentation Bank NY Mellon October 2013"

  1. 1. Information Security Identification: Confidential LATIN AMERICA: A STORY OF DIVERSITY, CULTURAL IDENTITY AND ECONOMIC DEVELOPMENT Presented by IMPACT October 3, 2013 Moderated by Mayra Sacco - BNY Mellon Government Programs Panelists: Dino Sani - BNY Mellon Treasury Services Latin America Amilcar Priestley - AfroLatin@ Project Jose F. Avila - New Horizon Investments
  2. 2. THE AFROLATIN@ PROJECT Founded in 2005 via a Ford Foundation grant, The Afrolatin@ Project (afrolatinoproject.org) works to empower Afrodescendant communities in Latin America and the Caribbean and to document their experiences using digital tools. The Project develops strategies for using technology for social and economic inclusion. Mobile Telephony in Latin America & the Caribbean Argentina- 66%/141.8% Bolivia- 12%/66% Colombia 50.4%/103.7% CR-43%/110% DR38.7%/91.9% as of „11 Panama-27.7%-96.4% Paraguay-17.1%/96%
  3. 3. MOBILE BANKING AND MICRO-FINANCING IN DEVELOPING COUNTRIES • M-banking is delivery of financial services outside conventional bank branches using mobile phones and nonbank retail agents. • M-banking initiatives in 72 countries; 41 started in 2012. Most successful m- banking initiative to date is M-Pesa in Kenya, recently replicated in India. • Combining m-banking and microfinance may increase access to credit, loans, savings and deposits. • Impediments: Lack of mobile infrastructure; regulatory issues; concerns of traditional banks; products not publicized so much of community does not use; other alternatives. • Proposed solutions: Partnerships between banks and regional mobile network operators to create “agent networks” made up of small business owners and airtime resellers can be supported via microfinance. Assess local needs, partner with state, NGO‟s & cooperatives.
  4. 4. Gross Domestic Product in Latin America Projected Country 2010 2011 2012 2013 2014 Argentina 9.2 8.9 1.9 2.8 3.5 Brazil 7.5 2.7 0.9 3 4 Chile 5.8 5.9 5.5 4.9 4.6 Colombia 4 6.6 4 4.1 4.5 Ecuador 3.3 8 5 4.4 3.9 Paraguay 13.1 4.3 -1.2 11 4.6 Belize 2.7 1.9 5.3 2.5 2.5 Costa Rica 4.7 4.2 5 4.2 4.4 Honduras 3.7 3.7 3.3 3.3 3 Panama 7.5 10.8 10.7 9 7.2
  5. 5. Since 2000, New Horizon Investment Club has been turning the modest contributions of its members into substantial returns. The investment club founded by a handful of Honduran immigrants in New York City, most without even a personal savings account, now has a portfolio worth nearly a quarter of a million dollars. New Horizon Investments • Diaspora Economic and Financial Empowerment aim should be to become promoters of the Economic development of our countries of origin. • Goal will be to increase multiplier effect of our investments in our local economies, by pursuing community level investments in commercial or productive infrastructure. • Develop local markets in our communities of origin. Goals
  6. 6. The Garífuna Culture as Economic Development Making Capitalism and the Free Enterprise System Work for Poor People! Development of an infrastructure within poor communities, for economic development, business development, and job creation.
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