Mobile-Phone Technology Powers Savings and banking Surge in Developing Economies

Good news! 

It has been reported for years that financial services via smartphone in less developed countries are progressing at a much faster pace and are more advanced  than in developed countries.

Do more with your phone!

"“More adults than ever in low- and middle-income countries now have bank or other financial accounts, leading to a rise in formal saving, according to the World Bank Group’s Global Findex 2025 report. ...

In 2024, 40% of adults in developing economies saved in a financial account in 2024—a 16-percentage-point increase since 2021 and the fastest rise in more than a decade. ..."

"... Mobile-phone technology played a key role in the surge, with 10% of adults in developing economies using a mobile-money account to save—a 5-percentage point increase from 2021. ...

Higher personal saving—through banks or other formal institutions—fuels national financial systems, making more funds available for investment, innovation, and economic growth.

In Sub-Saharan Africa, formal savings increased by 12-percentage points to 35% of adults. ..."

Mobile-Phone Technology Powers Saving Surge in Developing Economies - Human Progress

Mobile-Phone Technology Powers Saving Surge in Developing Economies

World Bank considers only 12% of all countries as low income in 2024

Good news!

"World Bank country income classifications reflect tremendous global economic growth. 

In 1987, the organization classified 30 percent of countries as low-income and 25 percent as high-income.

In 2024, only 12 percent of countries were low-income, while 40 percent were in the high-income group."

Doomslayer: Weekly Progress Roundup - by Malcolm Cochran

Understanding country income: World Bank Group income classifications for FY26 (July 1, 2025–June, 2026)

Very poor choice of colors by the World Bank! High and low is almost indistinguishable! Why is low income e.g. not in bright red color!!! Political correctness nonsense???

Building Research Capacity in Low- and Middle-Income Countries and Pandemic Preparedness: Lessons Learned and Future Directions

Food for thought! This is an open access perspective article!

From the abstract:

"Research capacity is a critical component of pandemic preparedness, as highlighted by the challenges faced during the Ebola outbreak in West Africa. Recent global initiatives, such as the Research & Development Task Force of the Global Health Security Agenda and the World Health Assembly’s resolution on strengthening clinical trials, emphasize the need for robust research capabilities. This Perspective discusses the experiences of leaders in infectious disease research and capacity building in low- and middle-income countries, focusing on Colombia, Jamaica, and Pakistan. These case studies underscore the importance of collaborative efforts, interdisciplinary training, and global partnerships in pandemic response. The experiences highlight the necessity for rapid pathogen identification, capacity for genomic sequencing, and proactive engagement with policymakers. Challenges faced, including the shortage of trained staff and reliance on imported reagents, emphasize the ongoing need for building research capacity."

Building Research Capacity in Low- and Middle-Income Countries and Pandemic Preparedness: Lessons Learned and Future Directions in: The American Journal of Tropical Medicine and Hygiene - Ahead of print (open access)

Credits: Johns Hopkins Bloomberg School of Public Health: Global Health NOW