![Small Shops, Big Dreams: The Transformative Potential of Inclusive Fintech](https://img.swapcard.com/?u=https%3A%2F%2Fcdn-api.swapcard.com%2Fpublic%2Fimages%2F86c4a7488e514ce684d3d3961cde99c7.jpeg&q=0.8&m=fit&h=720)
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Small Shops, Big Dreams: The Transformative Potential of Inclusive Fintech
Information
’Mom and pop store’, kirana, duka, sari-sari, and warung are some of the many names that countries have for their neighbourhood convenience stores or micro retailers, that are practically ubiquitous in Emerging Markets and Developing Economies. These stores play an outsized role in the economic and social fabric of low-income communities – supplying everyday essentials and providing an important source of employment. However, as with so many Micro and Small Enterprises around the world, lack of access to the right type of finance for these corner stores affects the livelihoods and resilience of both the owners and their customers. After decades of trying to find solutions to the access to finance issue, there appears to be some hope in sight. Advances in technology, improved connectivity and increasing levels of smartphone penetration are empowering micro retailers to make their businesses more efficient. One key aspect of these technological advances has been the digitalisation of the supply chains that these micro retailers are highly reliant upon for their stock and inventory. In addition to the efficiency gains linked to digitalisation, there has also been a proliferation of new and innovative business models across the globe that are embedding financial services into these digitalised supply chains, providing tailored solutions to address the unique financial needs of these shopkeepers. CGAP’s session will explore some of these embedded finance models that have the potential to transform the way in which micro retailers do business and access finance, hence promoting greater resilience and stability and providing opportunities for growth. The discussion will include both investors and providers to get a holistic view on the potential for these models, but also the inherent risks and challenges.