BIZ BRIEFS: UNCDF‚ MetLife partner for MM4P

KATHMANDU:

The United Nations Capital Development Fund (UNCDF) and MetLife Foundation have partnered to develop a moreinclusive, efficient and interconnected digital finance sector to help low income households in Nepal. MetLife Foundation’sgrant of $250,000 will go toward enhancing ‘Mobile Money for the Poor (MM4P)’, a global financial inclusion programme for economically disadvantaged people. MM4P has identified key providers that have potential to improve access to finance through mobile services. The $250,000 grant from MetLife Foundation will go toward providing technical and financial assistance to financial services providers and agent networks. Overall aim of programme in Nepal is to have 10 to 15 per cent of adult population (two to three million) as active customers of digital financial services in all forms by the end of 2019. MM4P will use the grant instrument primarily as a means to reach its target market — low income, women and rural customers — to demonstrate the value for this customer base, as per press release.

Flydubai’s profits up

DUBAI: Dubai’s no-frills carrier flydubai said on Tuesday that 2014 net profit rose 12.3 per cent to $68 million, as it expanded its routes and number of flights. Revenues at state-owned flydubai hit 4.4 billion dirhams ($1.2 billion), up 19.1 per cent, a statement said. The carrier said it added 23 new routes to its network and increased frequencies on several destinations.

Source: THT