Cell phone banking could lift Africa's farmers

You might have a few dollars in your wallet, but chances are most of the money you spend is through your credit or debit card. The cashless system we’ve grown accustomed to across North America, offers consumers instant access to products and services – giving us the freedom to buy whatever we want whenever we want it. Much of the developing world still relies solely on cash and barter transactions.

But now entrepreneurs in Africa are pioneering a remote electronic money network for the continent’s “unbanked” rural people, allowing customers to use their cell phones like a debit card. Investing in this social entrepreneurship could bring prosperity to markets that need it most.

Over the past decade, cell phone use has increased fivefold in Africa. Worldwatch Institute’s Nourishing the Planet project traveled across sub-Saharan Africa over the last year, and has found that nearly everyone, from remote villagers in Ethiopia and Uganda to poor farmers in Niger, has a cell phone.

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Farmers are using their phones to gain access to information and other things they didn’t have before. They can check crop prices before investing time in long trips to city markets, for example, giving them the option to wait until prices increase. Agricultural extension agents and development agencies use cell phones to inform farmers about changes in weather that could affect crops.

The cashless system has several benefits. First, money stored electronically is less likely to be stolen or misused. Second, electronic transactions can be instant – lowering transaction costs – whereas in-person cash transactions often mean investing time and money in transportation. Electronic money can benefit more marginalized people who often have to rely on middlemen to help them access markets.

The investment needed to firmly establish mobile banking in Zambia is large, and even more is needed for it to go international. But the models are there. The technology is there. The expertise is there and growing daily.

And according to Mr. Quinn, “There is no better place or time to be an entrepreneur in an emerging mobile payments industry.”

Credits -csmonitor

'merica.

happy fourth of july!

Goldman Sachs Sambas Into Brazilian Investment Banking

Goldman Sachs is looking to boost its workforce in Brazil in an effort to expand its footprint in the emerging markets. [1] The bank is targeting growth in high margin businesses such as convertible debt and the securitization of receivables in the booming investment banking sector in the Latin American nation.

Brazil – An Attractive Investment Destination

Brazil has posted impressive growth in agriculture, mining, manufacturing and service sectors to become one of the fastest growing economies in the world. ^[2] Investment banks are increasingly turning toward growing markets to increase their revenues, and Brazil has become one such important destination.

The Brazilian market is currently dominated by local banks such as Banco Itau BBA SA and Banco BTG Pactual SA that are using their strong local presence to maintain a stronghold on the market. ^[1] Other investment banks such as UBS are trying to gain market share by acquiring local firms to increase their penetration in the fixed income and securities markets.

Goldman Sachs is relatively a new-comer to the Brazilian market. It commenced full operations in the country only in 2009 and hence may face tough competition from established players. ^[1] The bank intends to overcome this handicap by targeting high margins segments and may look to leverage its relationships with private equity firms to shore up business. Goldman Sachs is the leading advisor to private equity players, and has been leading this space for over past five years with a 34% share of the total mergers and acquisitions deals involving PE firms. 

Bloomberg reports that total mergers & acquisitions (M&A) transactions in Brazil stands at approximately $53.5 billion in 2011. ^[1]. According to its data, Goldman Sachs is now among the top 10 M&A and equity sales advisors in the country ranking fourth in Q1 2011. Goldman Sachs’ M&A advisory contributes to 8% of our $164 price estimate for its stock – implying a 25% premium over the current market price. We estimate that the firm will increase its market share in global M&A advisory to 25% by the end of our forecast period.

Vaccine cures prostate cancer in rodents

Scientists from U.S. and UK were able to treat established prostate tumors in mice with a vaccine for humans without side effects.

The researchers created a new approach to treatment that involves stimulating the immune system to rid itself of the tumors without the aid of chemotherapy or radiation.

As published in the journal Nature Medicine, the new vaccine was able to cure 80% of treated mice without causing apparent side effects caused by current treatments.

This same approach, they believe, can also be used as a treatment for other forms of cancer and have begun testing for melanoma.

Cancer vaccines are not new, but unlike the traditional acting to protect against infection, cancer work by causing the immune system to attack tumors that are already in the body.

Specifically, these vaccines are directed to a marker located on the surface of cancer cells, called antigens. Alan Melcher, University of Leeds, England, one of the researchers involved in the study, said "the biggest challenge in immunology is to develop antigens that can combat the tumor without damaging other parts."

Justin Bieber started rumor about the title of his new album

A rare occasion when these celebrities start rumors about themselves. But Justin Bieber did just that with a message sent through Twitter that initially seemed innocent.

The rumor is about her new album, which still do not know many details.

However, the uproar was not the fact that he thinks this is his best work to date but the hashtag you used. Justin who loves the positive messages that use the word "believe" as the hash tag. This started a frenzy that her new album will be called so, which Justin has neither confirmed nor denied.

This is just a rumor that was started by a simple and easy hash tag. We do not believe that was the intention of Justin but we can not say that it is not. He loves to send messages of hope to their fans. We'll have to wait to hear it.

I think it's just a mistake on the part of Justin, but seeing the furor it caused was perhaps a fortunate mistake and this has given you an idea that otherwise would not have come.

This is what he wrote, "the next album will be the best yet." # BELIEVE

WGM 110702

Videos will be out soon :) :)


WGM 110702

Needless to say, the outcome of the Greek parliament vote on a new austerity package – a scheme including tax increases, spending cuts and government asset sales – is in focus today. As we discussed in detail earlier in the week, last week’s successful confidence vote that allowed Prime Minister George Papandreou and his cabinet to remain in power make today’s proceedings largely ceremonial. Still, market confidence is likely to get a boost from the outcome as a degree of uncertainty about the current environment is removed, pushing crude prices higher along with the spectrum of risky assets. Key resistance has already been overcome at $92.11 – the intersection the 61.8% Fibonacci extension level and a falling channel top – exposing $94.49 from here. Official DOE weekly inventory figures are also on tap.

Gold Begins Recovery Amid US Dollar Weakness

Spot Gold (NY Close): 1501.40 // +3.35 // +0.22%

As we said yesterday, gold appears likely to follow risky assets higher into the Greek budget vote, with a favorable outcome that boosts overall sentiment likely to weigh on the US Dollar as the safe-haven du jour over recent weeks. Needless to say, gold is priced in terms of the greenback on global markets, so a decline in the US currency puts de-facto upward pressure on the yellow metal. A bounce from support at $1495.92 is already underway targeting initial resistance at $1509.49 and $1534.55, the 38.2% Fibonacci extension level and the underside of a previously broken rising channel, respectively.