Emerging-Market Entrepreneurs Build Firms With Smartphones as 1.4 Billion Adults Remain Unbanked

3 articles · Updated · Inc. · Jun 5

1.4 billion unbanked adults are pushing many founders in emerging markets to launch businesses with smartphones, fintech tools and trust-based digital platforms instead of bank loans or formal business credentials.
Mobile access is the key enabler: phone ownership now exceeds the global population, and cheaper smartphones have widened access to digital banking, peer-to-peer payments, social media and online sales tools.
MSMEs already drive about half of economic output—and much of employment—in many emerging markets, making these low-cost digital business models economically significant as well as accessible.
Unemployment rates of 20% to 34.4% in countries including Eswatini, South Africa, Botswana and Gabon underscore why direct selling and text-based payment systems are becoming practical alternatives to traditional banking.

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