Social

  • This Law prescribes credit loans from the Bank for social Policies for households escaping poverty to develop production and business in order to have a stable life and make sustainable poverty reduction.
    In Force
  • ITU DFS Focus Group Document. Social networks enable users to chat, share photos, and perform similar social activities. As social networks mature, they continually add commercial services such as person-to-person (P2P) payments, shopping at physical stores, and ‘conversational commerce’ via chat applications. At this point in time, however, this social networking and commercial revolution has largely skipped the bottom of the pyramid (BoP). In general, while social networks are present in most developing countries and view the BoP as a big opportunity, the poor are not participating – primarily due to low Internet adoption. But, increasing Internet adoption will not open the social networking floodgate. Feature phones, the primary device used by the poor, limit the social network value proposition. While smartphones offer the best user experience, they introduce new problems such as a short battery life and higher data costs. Even if social network adoption grows, the commercial aspects won’t materialize for the poor without financial inclusion – a consumer can’t buy unless they link a payment account like M-Pesa to their social network account. Is this one more example of the digital and financial divide, or can social networks help the BoP economically?
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