Sierra Leone partners with UN and Kiva to offer micro-lending and identity
In September 2017, the UN Capital Development Fund, the UN Development Programme, and the non-profit San Francisco-based startup Kiva, which has worked for 13 years as a crowd-funded microlending platform announced a joint initiative to open up financial services to the 20% of the Sierra Leone population - 7 million citizens - who have no credit history or proof of formal identity and are therefore unable to start businesses, raise loans, or generally access mainstream financial services. The new Kiva Protocol will create a national digital identification system using distributed ledger technology (similar to blockchain) intended to ensure all the country's citizenns have "secure and complete ownership" of their personal data. The partners hope the system will change the face of financial inclusion and become a model for both developing and developed countries.
Publication date: 2018-09-30