Global financial exclusion remains one of the most pressing barriers to economic development, with 2 billion adults unbanked and 200 million MSMEs in emerging markets starved of capital. Nowhere is this challenge more acute than in Myanmar, where just 25% of adults have bank accounts yet 40% rely on borrowing–often through informal lenders charging exorbitant 30-120% interest rates. With only 2,000 bank branches serving 53 million people, traditional finance fails to reach most citizens, trapping families in cycles of debt and stunting business growth.
Recognising this crisis, GIFT collaborated with Yoma Strategic Holdings, a Myanmar conglomerate with stakes in real estate, automotive, and Wave Money (the country’s leading mobile money platform), to design Yoma Reach, a comprehensive digital finance solution.
- This innovative model leverages Wave Money’s 60,000+ agent network to provide uncollateralised loans, while partnerships with agricultural suppliers, healthcare providers, and schools enable targeted financing for essential needs.
- Crucially, the platform harnesses transactional data from Yoma’s ecosystem (including telecom payments and fleet management) to build AI-driven credit scores, allowing for risk-based pricing that keeps loans affordable.
- Early analysis shows the model can achieve commercial sustainability while delivering transformative impact: families gain access to fair healthcare and education financing, SMEs secure growth capital, and Myanmar builds the digital financial infrastructure needed for inclusive economic development.
By proving that financial inclusion can be both socially impactful and commercially viable, Yoma Reach offers a blueprint for emerging markets worldwide, demonstrating how mobile technology, strategic partnerships, and responsible lending can turn the tide against financial exclusion.