Latest news with #economicinclusion
Zawya
18-07-2025
- Business
- Zawya
Twelve Million Kenyans to Benefit from a New Social Protection Project Aimed at Strengthening Human Capital and Economic Inclusion
The World Bank Board of Directors approved the Second Kenya Social and Economic Inclusion Project (KSEIP2) which will strengthen the country's social protection systems and scale up safety net support to twelve million citizens, including elderly, women, adolescents, children and other age specific vulnerable groups–while advancing human capital development and economic inclusion. The KSEIP2, a successor to the recently completed Kenya Social and Economic Inclusion Project (KSEIP), will build on the success and lessons learned from the relevant interventions implemented to enhance delivery systems for inclusive access to social and economic inclusion. It is financed by a $127.5 million investment from the International Development Association (IDA). ' Inclusive growth and poverty reduction are realized when there are more and better jobs as well as more accessible jobs for the poorest and most vulnerable populations,' said Qimiao Fan, World Bank Division Director for Kenya. ' The project's innovative elements will prepare today's children and adolescents for healthy and productive adulthoods, help poorer families with sustainable livelihood enhancement, and ensure that hard-won gains are not lost to food insecurity during the times of drought or other crises.' The project will scale up cash-plus programs for targeted age groups, complementing the existing cash transfers provided under the government's flagship National Safety Net Program (NSNP). KSEIP2 will promote inclusive and sustainable employment through the introduction of climate-resilient income-generating activities and by linking beneficiaries to government social insurance schemes for long-term savings and resilience. Given Kenya's vulnerability to recurrent droughts in the North and Northeastern Counties, the project will also strengthen the efficacy of social protection system through investments in modernization and provision of emergency social assistance as temporary support to offset the adverse impact of such crisis. ' The Government of Kenya is committed to supporting opportunities for every Kenyan family to sustainably exit poverty and vulnerability. The KSEIP2 Project supports the government's ambition on disrupting the vicious cycle of poverty by focusing on investments in children and adolescents, as well as households with productive capacity,' said Shubha Chakravarty, Senior Economist and the Task Team Leader, World Bank. ' This objective will be achieved by working in synergy with other relevant government programs.' The project is consistent with the FY23-FY28 World Bank Group Country Partnership Framework (CPF), particularly with the objectives of increasing household resilience, national preparedness for shocks response, and priorities around human capital development and jobs agenda. It is also in line with Kenya's vision 2030 while supporting the constitutional commitment to 'provide social security for all Kenyans who cannot support themselves'. Distributed by APO Group on behalf of The World Bank Group.
Arabian Business
14-07-2025
- Automotive
- Arabian Business
Uber launches ‘Women Drivers' feature in Saudi Arabia
Uber has announced the upcoming launch of its new 'Women Drivers' product in Saudi Arabia, allowing women riders to be matched exclusively with women drivers via the app. The new feature, which will roll out gradually in the coming weeks, marks a major step forward in enhancing mobility and economic inclusion for Saudi women. The launch coincides with the seven-year anniversary of the Kingdom's historic decision to lift the driving ban on women, and is positioned as part of Uber's broader mission to empower women through innovation, local partnerships, and economic opportunity. Uber Women Drivers in Saudi Arabia The product is also designed for ease of use to ensure women feel comfortable and empowered. It will be available gradually for riders in the coming weeks. Here's how the product works: On-demand: The Women Drivers product allows women riders to be matched with Women Drivers. The product functions just like UberX and is selectable from the product mini-list with similar prices to Uber X Reserve: For women riders looking for added structure and planning, they can reserve a ride with a women driver up to 30 minutes in advance through the Uber Reserve feature Youssef Abouseif, KSA GM at Uber, said: 'Women across Saudi Arabia have shown how mobility can open the door to new possibilities. At Uber, we see that future as electric, shared, and autonomous – but also inclusive. 'The launch of the 'Women Drivers' product reflects our commitment to empowering women and supporting their mobility and economic independence. 'We're continuing to support women who choose to drive via the Uber app – giving them more choice, more opportunity, and a stronger sense of community. 'We're also thrilled to witness this dynamic change unfold in Saudi Arabia, and we firmly believe initiatives like these play a pivotal role in Saudi Vision 2030.' Uber is partnering with Alnahda Society, a leading non-profit organisation established in 1962 with a mission to empower women both economically and socially. The collaboration aims to support women in mobility through capacity-building initiatives, including financial literacy programs, by equipping women with essential skills. The initiative paves the way for economic independence and opens up opportunities such as driving via the Uber app. This effort builds on Uber's previous collaboration with Alnahda through the Masaruky initiative, which supported thousands of women in joining the workforce by helping them learn to drive and obtain a driver's licence. Additionally, Uber will host its first GigSister program in Saudi Arabia, creating a dedicated space for women drivers to connect, share experiences, and foster a supportive local community. These initiatives highlight how Uber is going beyond mobility to actively invest in the development and success of women across the Kingdom. Over the years, Uber has introduced a series of programs in Saudi Arabia, from the Wusool initiative, which supported more than 20m subsidised rides for women, to Women Rider Preference, which allows women drivers to choose if they want to exclusively pick-up women riders. Each of these initiatives has been carefully curated to advance women's participation in the workforce and align with the Kingdom's broader socio-economic goals.
Zawya
10-07-2025
- Business
- Zawya
New tax facilities set stage for rapid growth of micro, small enterprises: Egypt's ETA chief
Egypt - Rasha Abdel Aal, Chairperson of the Egyptian Tax Authority (ETA), announced that the Authority is intensifying efforts to promote awareness of Egypt's new tax facilities package and its benefits for enterprise growth, in line with a broader strategy to foster formalisation and economic inclusion. 'We continue to engage directly with the business community to encourage companies to register under the new system ahead of the legal deadlines and to incentivise informal businesses to enter the formal economy,' said Abdel Aal. She emphasised that the newly introduced tax facilities offer micro and small enterprises a significant opportunity to expand their operations and achieve accelerated growth. The simplified tax system, enacted under Law No. 6 of 2025, is available to all self-employed individuals and freelancers whose annual turnover is below EGP 20 million. Eligible categories include doctors, engineers, artists, media professionals, accountants, lawyers, craftsmen, and other independent professionals. According to Abdel Aal, the new regime applies a proportional tax rate based on declared turnover, starting at 0.4% for turnover under EGP 500,000 and up to 1.5% for turnover below EGP 20m. Tax obligations begin the day after registration, and registrants benefit from full waivers on tax dues and penalties for prior periods—an approach described as 'forgiveness for past periods.' Ragab Mahrous, Advisor to the ETA Chair, highlighted during a recent awareness campaign at the Red Sea Tax Directorate—organised in cooperation with the Future of the Nation Party—that registrants under this simplified integrated system are exempt from tax inspection for five years following enrolment. Mohsen El-Gayar, General Manager of Customer Service for the Canal Cities region, outlined the Tax Authority's broader transformation since 2018, including the launch of key digital systems. These include e-filing, the new core tax management system (SAB), e-invoicing, the e-receipt platform, unified payroll tax calculation standards, and upgraded infrastructure. He noted that these initiatives have enabled real-time support and effective problem resolution for taxpayers. El-Gayar also pointed to Law No. 5 of 2025, effective until 12 August, which allows taxpayers to resolve ongoing disputes by filing or amending tax returns for the years 2020 to 2024 without incurring financial penalties. He described the law as a turning point in strengthening the government's partnership with taxpayers and encouraging voluntary compliance. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Coin Geek
25-06-2025
- Business
- Coin Geek
PH laws, gov't support drive blockchain adoption: report
Getting your Trinity Audio player ready... The Philippines is establishing itself as a developing center for blockchain innovation, a trajectory shaped by responsive regulatory actions and government support. This combined effort aims to create an enabling environment for blockchain to thrive, fostering digital transformation and economic inclusion. According to the 'Philippine Blockchain Report 2025' released by the Blockchain Council of the Philippines (BCP), the country continues with its aspiration to become a regional leader of the technology. The report provides a data-driven overview of the nation's blockchain landscape. Members of the Blockchain Council of the Philippines during the launch of the Philippine Blockchain Report 2025 at the SMX Convention Center in Pasay City, Philippines. Establishing regulatory foundations According to the report, Philippine regulators have established initial frameworks to guide blockchain adoption. These frameworks strike a balance between innovation, consumer protection, and market integrity. The Bangko Sentral ng Pilipinas (BSP), the nation's central bank, plays a central role in regulating virtual assets. In 2017, BSP Circular No. 944 recognized digital currencies as a valid payment method. This was followed by Circular No. 1108 in 2021, which governs Virtual Asset Service Providers (VASPs), emphasizing anti-money laundering (AML) and information technology (IT) security requirements. A three-year moratorium on new Non-Bank VASP applications was put in place starting in September 2022 and is expected to continue until September 2025. The BSP also established its Regulatory Sandbox Framework (Circular No. 1153) for emerging technologies, including Distributed Ledger Technology (DLT). An example includes receiving BSP approval to pilot its Philippine Peso-backed stablecoin (PHPC) within this sandbox, which is now in its exit stage. The BSP is also actively pursuing central bank digital currency (CBDC) initiatives, such as Project CBDCPh, a wholesale CBDC pilot to test interbank transactions, and Project Agila, which completed its testing phase in December 2024. A medium-term roadmap for wholesale CBDC development is anticipated for 2025, with the goal of enhancing payment systems and financial stability. The report also stated that the Securities and Exchange Commission (SEC) recognizes blockchain's capacity to streamline financial services, enhance digital payments, strengthen regulatory compliance, and drive financial inclusion. The SEC established the PhiliFinTech Innovation Office and launched the SEC StratBox, a thematic sandbox framework for Crypto-Asset Service Providers (CASPs), to support innovation in a controlled environment while managing risks. The SEC has also drafted and published comprehensive Rules on Crypto-Asset Service Providers (CASP) and CASP Guidelines, designed to provide legal clarity for crypto-asset activities, promote responsible market practices, and align with international standards. The SEC expects to launch a derivatives market in the Philippines that may accommodate crypto derivatives. Moreover, the report said that the Special Economic Zones contribute to attracting blockchain businesses. The Cagayan Economic Zone Authority (CEZA) introduced rules, including the Financial Technology Solutions and Offshore Virtual Currency Business Rules and Regulations (FTSOVCBRR) and the Digital Asset Token Offering (DATO) Rules, which were updated and integrated in 2024 with the Offshore Financial Technology (OFT) Licensing Rules and Regulations (OFTLRR). These frameworks support offshore crypto-exchange activities and token offerings, with CEZA's 'Crypto Valley of Asia' attracting blockchain businesses. The Authority of the Freeport Area of Bataan (AFAB) offers the Offshore Digital Asset Licence (ODAL), allowing blockchain-based businesses to operate within a regulated framework, and has a direct legislative mandate to cultivate emerging industries. Regarding consumer protection, the Financial Products and Services Consumer Protection Act (FCPA) and the Anti-Financial Account Scamming Act (AFASA) extend their coverage to blockchain-based financial products and accounts, imposing consumer protection standards and responsibilities on service providers. Government initiatives and projects Beyond direct regulation, government agencies are actively integrating blockchain into public services, demonstrating practical applications and commitment to the technology. The Department of Information and Communications Technology (DICT) is committed to adopting emerging technologies, such as blockchain, for sustainable and inclusive economic growth. It launched eGOVchain, a blockchain-based government project aimed at improving transparency, security, and efficiency in public services, and plans to implement eGovEncrypt to secure critical government data. The Department of Budget and Management (DBM) launched Project Marissa, a blockchain-based initiative aimed at enhancing the security of budget-related documents, utilizing BayaniChain's hybrid blockchain technology. It also utilizes Prismo to add security to critical budget documents, such as Special Allotment Release Orders (SAROs). The Bureau of the Treasury (BTr), in partnership with PDAX, issued the nation's first tokenized treasury bonds in 2023, demonstrating the government's commitment to using blockchain for transparent and efficient public finance. The BTr is also testing the 'GBonds' feature with GCash to broaden Filipino investors' access to government investments. The Maritime Industry Authority (MARINA) has introduced the Blockchain-Enabled System for Transactions (BEST) to enhance maritime services by enabling the real-time processing of applications and online payments and ensuring document authenticity, thereby reducing fraud and improving transparency. Digital transformation is a national goal that calls for collaboration among the government, private organizations such as the Gobi-Core Philippine Fund, Gorriceta Africa Cauton & Saavedra, and the BCP, as well as academic institutions. Events like the Philippine Blockchain Week have become international gatherings, attracting global experts, investors, and innovators. Impact on adoption and growth Source: Philippine Blockchain Report 2025 These concerted regulatory and governmental efforts have affected the adoption and growth of blockchain in the Philippines. Trust and confidence building: Clear regulations and robust consumer protection measures are crucial in fostering public trust and confidence in blockchain technology. While a large portion of Filipinos (70%) remain unfamiliar with blockchain, a high proportion (74%) expressed confidence in its security, partly due to the accessibility and perceived reliability of centralized exchanges like and PDAX. The pandemic played a role in shifting perception, with more people recognizing blockchain's security, accessibility, and practical applications. Financial inclusion and remittances: Blockchain initiatives, particularly from the BSP (e.g., Project i2i and CBDCs, are designed to enhance payment systems and expand financial access, especially for the large unbanked population and overseas Filipino workers (OFWs), who rely heavily on remittances. Blockchain provides a more cost-effective and efficient means of sending money compared to traditional systems. Diversification of use cases: While digital currency (especially for trading, payments, and gaming) remains the most recognized application, government projects and regulatory foundations are encouraging the expansion of blockchain use cases beyond digital assets and non-fungible tokens (NFTs). The rise of Play-to-Earn (P2E) gaming, with many Filipinos becoming 'Metaverse Filipino Workers' (MFWs), has served as an entry point into Web3 for the population, especially during the lockdown. Challenges and outlook Despite progress, the report said challenges persist, including a knowledge gap among the public, limitations in digital infrastructure, and funding constraints for early-stage blockchain ventures. Eighty-five percent of respondents have no direct connection to blockchain in daily life, and 70% are unfamiliar with the technology altogether. This indicates that awareness and understanding remain hurdles to broader adoption. The report said that the Philippines' regulatory landscape is expected to continue evolving towards a more precise delineation between regulatory bodies, such as the BSP and SEC, a more granular licensing regime, and stricter compliance and oversight as blockchain adoption expands. Continued investment in education and government coordination is crucial for fostering trust, driving innovation, and promoting responsible blockchain use to support long-term growth. The report added that the government may explore and implement blockchain technology across various sectors, leveraging regulatory sandboxes to assess viability and impact. By fostering collaboration and leveraging its tech-savvy population, the Philippines aims to solidify its position as a player in the global blockchain ecosystem, unlocking its full potential for national progress. Watch: The Philippines is moving toward blockchain-enabled tech title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Forbes
02-06-2025
- Business
- Forbes
As Global Aid Recedes, The Need For Proven Solutions Grows
Written by Lauren Hendricks, President and CEO, Trickle Up We've entered a new era of austerity. The global pullback on international aid is still unfolding, and the sector is only beginning to process the full implications. International development foundations will need to choose between the immediate need of providing emergency supplies and providing long-term investment in economic inclusion-based poverty alleviation. This trade-off is daunting, and points to a future where choices are not about priorities, but about survival. Global development efforts face uncertainty — and communities that need aid will suffer if we do not change our approach. Yet within this sobering reality, there is also a sense of possibility. The shift in resources is pushing the sector to confront long-overdue questions and explore new models. Impact investors, philanthropic venture funds, and blended finance models are stepping in where traditional funding is pulling back. These changes mean international development groups must step up now, more than ever, to ensure that vital humanitarian and development efforts continue to reach those who need them. As global development faces growing uncertainty and shrinking aid budgets, one thing is clear: we must invest in what works, and we must embrace the knowledge and lived experience of local leaders. The Data Mandate: Prove It or Lose It As development dollars become scarcer, the pressure to demonstrate cost-effectiveness and results is only intensifying. Donors—large and small—are going to double down on data and evidence of efficacy. In the emerging funding landscape, we will need to prove not only that our poverty alleviation programs increase income, but that they improve outcomes in health, education, women's empowerment, and more. On top of that, we'll need to identify ways to reduce costs without compromising on quality and show funders that investing in economic inclusion delivers multiple returns, across sectors and across time. The Abdul Latif Jameel Poverty Action Lab (J-PAL) recently published a brief that identifies six development programs that save lives, reduce disease, and help the poorest people in the world transition out of extreme poverty. Among them, only one approach has been repeatedly proven to sustainably move the most vulnerable households out of poverty: the Graduation Approach. This holistic, time-bound model equips families with the resources and support they need to build lasting livelihoods, and it works across contexts and geographies, from the remote rural communities of India, Burkina Faso, and Ethiopia, all the way to the post-conflict settings of Uganda and Colombia. Participants in economic inclusion programs continue to earn and save more than their peers even after the programs end. The benefits of the approach persist years after the programs end, with participants earning more, saving more, and experiencing greater food security and social inclusion. Plus, as household income grows, we witness life-changing outcomes in health access, education, and nutrition. A Social Return on Investment (SROI) analysis on the MPowered project—an economic inclusion program focused on women—showed that for every Indian rupee invested, the project generated INR 6.7 in social value. This is a powerful case for scaling graduation programs, especially those rooted in gender equity, digital access, and local leadership. Locally-Led Is No Longer Optional There's now an opening for national governments, local organizations, and regional institutions to step up. Leaders from the Global South represent the communities most impacted by global challenges, and they're ready to offer the clearest solutions. As traditional donors retreat, local leaders have an opportunity to reclaim ownership of the international development agenda and truly decolonize aid. And with their on-the-ground knowledge of local markets, community dynamics, and lived realities, partnering with these local leaders can unlock more effective solutions, and mobilize the funding needed to scale them. Working with local leaders to advance the international development agenda has become essential. This will require some deep shifts in mindset and practice for international NGOs. We must ask ourselves: What role do local organizations want us to play in the next chapter of development? How do we support rather than direct? And how do we shift power, resources, and decision-making to the communities we serve? A New Chapter Begins Working to support those who are experiencing extreme poverty and exclusion has never been more urgent. In the current funding climate, the Graduation approach isn't just a smart policy, it's smart economics: cost-benefit analyses show that long-term income gains often exceed the cost of implementation. In short, if we want to efficiently reduce poverty, we must fund approaches grounded in evidence—and Graduation delivers. When paired with the partnership of local leaders, the Graduation approach becomes a powerful engine for sustainable change, rooted in trust, tailored to context, and scaled for impact.
