Build For The Informal Sector Hackathon 2020: On Lending facilities and Access to Credit

Description

Nigeria’s informal economy has grown considerably over the last decade.

These are the individuals and micro-enterprises whose economic well-being is birthed and buoyed on the fringes of the formal economy; business activities that remain unregulated, and oftentimes, completely unknown.

Initially, much of the rhetoric centred on the need to ‘manage’ this ever-expanding behemoth that the informal sector was becoming. This narrative has since evolved into one that seeks to formalise these businesses, by catering to their needs and providing them with much-needed support.

Like other parts of the economy, the informal sector has taken a hit from the COVID-19 crisis. Governments have mandated workers to take costly protective measures, such as the regular purchase of masks, the reduction in the number of passengers for motorcycle taxis, or the observance of curfews. Farmers have seen falling demand for their produce as restaurants have reduced their purchases in the face of dwindling traffic.

We leave it to you to design the new conditions for the informal economy, and offer the following provocations as a place to get started for your MVPs, prototypes, etc;

On-lending facility and access to credit through non-traditional financial channels
For example, how might we build custom financial solutions for entrepreneurs to access credit outside the regular financial system, other methods of crowdfunding exists such as cooperative funding with little to no default on loan acquisition.

Resources

Build For The Informal Sector Hackathon 2020: Identity Management

Description

Nigeria’s informal economy has grown considerably over the last decade.

These are the individuals and micro-enterprises whose economic well-being is birthed and buoyed on the fringes of the formal economy; business activities that remain unregulated, and oftentimes, completely unknown.

Initially, much of the rhetoric centred on the need to ‘manage’ this ever-expanding behemoth that the informal sector was becoming. This narrative has since evolved into one that seeks to formalise these businesses, by catering to their needs and providing them with much-needed support.

Like other parts of the economy, the informal sector has taken a hit from the COVID-19 crisis. Governments have mandated workers to take costly protective measures, such as the regular purchase of masks, the reduction in the number of passengers for motorcycle taxis, or the observance of curfews. Farmers have seen falling demand for their produce as restaurants have reduced their purchases in the face of dwindling traffic.

We leave it to you to design the new conditions for the informal economy, and offer the following provocations as a place to get started;

Identity management
- Beyond the use of identity cards, bank verification numbers, etc., how can we design an economy where individuals can build a solid identity with other means of identification they can provide such as their telephone number, Social security numbers, school certificates, etc.

Resources

Build For The Informal Sector Hackathon 2020: Credit Score and Reputation

Description

Nigeria’s informal economy has grown considerably over the last decade.

These are the individuals and micro-enterprises whose economic well-being is birthed and buoyed on the fringes of the formal economy; business activities that remain unregulated, and oftentimes, completely unknown.

Initially, much of the rhetoric centred on the need to ‘manage’ this ever-expanding behemoth that the informal sector was becoming. This narrative has since evolved into one that seeks to formalise these businesses, by catering to their needs and providing them with much-needed support.

Like other parts of the economy, the informal sector has taken a hit from the COVID-19 crisis. Governments have mandated workers to take costly protective measures, such as the regular purchase of masks, the reduction in the number of passengers for motorcycle taxis, or the observance of curfews. Farmers have seen falling demand for their produce as restaurants have reduced their purchases in the face of dwindling traffic.

We leave it to you to design the new conditions for the informal economy, and offer the following provocations as a place to get started for your MVPs, prototypes, etc;

Credit-score/reputation based rating
- Using purchasing behaviour, community validation, etc. How can we design an economy that takes into cognizance an individual behaviour as a form of credit score acquisition, for e.g, the ability to use an individual’s reputation overtime on social media as a means to build their credit and reputation score for use in accessing credit and lending facilities outside non-traditional financial systems.

techrityorg / build4socialgood Goto Github PK

build4socialgood's People

Contributors

Stargazers

Watchers

Forkers

build4socialgood's Issues

Build For The Informal Sector Hackathon 2020: On Lending facilities and Access to Credit

Description

Resources

Build For The Informal Sector Hackathon 2020: Identity Management

Description

Resources

Build For The Informal Sector Hackathon 2020: Credit Score and Reputation

Description

Resources

Recommend Projects

React

Vue.js

Typescript

TensorFlow

Django

Laravel

D3

Recommend Topics

javascript

web

server

Machine learning

Visualization

Game

Recommend Org

Facebook

Microsoft

Google

Alibaba

D3

Tencent

Jobs