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More People Worldwide are Opening Bank Accounts

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In this March 9, 2013 photo, a woman uses her phone as she walks by an advertisement for a 4G telecommunications network in Hangzhou, in eastern China's Zhejiang province. On Wednesday, April 15, 2015, the World Bank said the number of people opening their first bank accounts - either on mobile phones or at bank branches - jumped by 700 million between 2011 and 2014. (CHINATOPIX via AP)

In this March 9, 2013 photo, a woman uses her phone as she walks by an advertisement for a 4G telecommunications network in Hangzhou, in eastern China’s Zhejiang province. On Wednesday, April 15, 2015, the World Bank said the number of people opening their first bank accounts – either on mobile phones or at bank branches – jumped by 700 million between 2011 and 2014. (CHINATOPIX via AP)

KEN SWEET, AP Business Writer

NEW YORK (AP) — Africans using cellphones, older Chinese, and Indians getting a push from their government have fueled an unprecedented surge of people opening their first bank accounts.

The number people with an account — either on mobile phones or at bank branches — jumped by 700 million between 2011 and 2014, the World Bank said Wednesday.

The rise in new worldwide accounts has been driven by the spread of cellphones throughout areas like sub-Saharan Africa, where a bank could be miles away, and by strong economic growth in Asia.

A bank or payment account is a gateway for people to integrate into modern society. Without an account, goods cannot be bought online, money has to be transferred physically, and savings cannot be stored safely. Remittances, where people send cash home to family, becomes expensive and time consuming.

“It’s the first step of getting into the world’s financial system,” says Asli Demirguc-Kunt, who directs research at the World Bank and co-authored its 2014 Global Findex Survey. “Basic financial services can help people save and lift themselves out of poverty and take control of their finances.”

Now, 62 percent of the world’s adult population has some sort of bank or payment account compared with 51 percent in 2011.

Mobile payment accounts are especially popular in Africa, where nearly 12 percent of the population has a mobile account compared with 2 percent worldwide, according to the World Bank. Overall account ownership in Africa rose from 24 percent in 2011 to 34 percent in 2014, largely driven by the wider use of devices.

In Kenya, the number of people with bank or payment accounts has nearly doubled in three years, with almost all the growth coming from mobile accounts. Now, nearly 80 percent of the country’s 44 million people have access to basic financial services. Tanzania and Uganda also saw a surge in accounts. More than half of farmers in the three African countries are using mobile accounts to sell their goods.

In five African countries — Ivory Coast, Somalia, Tanzania, Uganda and Zimbabwe — more adults have mobile money accounts than traditional bank accounts.

In India, account ownership has risen by 18 percentage points in three years to 53 percent. A big part of that increase is due to an Indian government program that aims to get every household to open an account. The World Bank estimates that the program spurred 125 million new accounts in four months.

Chinese account ownership also rose sharply to 79 percent in 2014 from 64 percent in 2011, with most of the growth coming from people living in rural areas as well as from older adults.

Other key takeaways on worldwide bank accounts:

— WOMEN LAG MEN:

The World Bank says 58 percent of women have an account, up from 47 percent in 2011, while 65 percent of men have a bank account, up from 54 percent in 2011. That 7 percentage point gap between the genders is consistent with the last World Bank survey, in 2011. Account ownership among women is particularly low in the Middle East, where women are half as likely to have an account. However, the gap between women and men decreased when the World Bank only considered wage-earning women.

“As women’s participation in the labor force rises, that will be one way to close the gap between women and men,” says Leora Klapper, lead economist and co-author of the Global Findex report.

Female account ownership is important because it can provide a separate, safe place for women to store savings and allows them to make their own spending decisions, Klapper says.

— A JUMP IN DEVELOPING WORLD ACCOUNTS

In the developing world, account ownership rose by 13 percentage points between 2011 and 2014. However, it still lags the developed world significantly. In the developed world, 94 percent of adults have a bank or payment account compared to 54 percent in the developing world.

— NUMBER OF ‘UNBANKED’ DROPS

In 2011, the number of adults without bank accounts totaled 2.5 billion worldwide. Now it’s 2 billion, a 20 percent fall.

— THE SURVEY:

The World Bank and Gallup surveyed nearly 150,000 people in 143 countries and territories. The survey period varied from country to country, with some interviews done as early as February 2014 and some as late as December 2014, using both phone and in-face interviews. The margin for error varied by country, and was as low as 2.2 percent in China to as high as 5.2 percent in the U.S. territory of Puerto Rico.

This is the second time the World Bank has done this survey. The original Global Findex survey was published in 2012, using 2011 data.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Activism

COMMENTARY: Will a Dictator’s Loss Change Trump’s Tune?

What’s happened in Syria has the potential of reshaping the politics of the entire Middle East. The U.S. can’t afford to sit back and do nothing. Now is the time to exert peaceful, diplomatic influence on how Syria maintains stability and goes forward with a new democracy.

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iStock
iStock.

By Emil Guillermo

In our polarized country, half of America can’t wait, while many of us still wonder, “where’s Kamala?”

I hope President-elect Trump — who famously said during the campaign that he’d be a dictator on day one — eats his words.

Dictators aren’t doing so well these days.

Last weekend, the dictator Bashar al-Assad was run out of Syria and sought exile with his puppet master/dictator Vladimir Putin of Russia. In just about two weeks, a coalition of rebels applied enough pressure to end a family regime in Syria that lasted 50 years.

al-Assad’s wealthy family dictatorship plundered Syria and ruled in terror.

It sounds all too familiar to Filipino Americans, many of whom came to the U.S. fleeing the Philippine dictator Ferdinand Marcos.

al-Assad’s end was different from the Filipinos who forged a peaceful People Power movement that chased the Marcos family to Hawaii where they sought refuge from their U.S. puppet handlers.

But as in Manila, there was cheering on the streets of Syria.  Men, women, and children. Christian, Muslims, different sects and ethnicities, all united against al-Assad.

al-Assad has been described as a genocidal narco-trafficking tyrant, whose friends were America’s biggest enemies, Iran, Hezbollah, and Russia, said Mouaz Moustafa, the executive director of the Syrian Emergency Task Force, on CNN.

Moustafa said it was amazing that there would be no more Russian airstrikes, no more al-Assad gulags torturing civilians. “To see good triumph over evil is an amazing thing,” he added.

But last weekend has some trickle down.

Consider that we are talking about al-Assad, the one Tulsi Gabbard consorted with and hyped to her colleagues when she was in Congress. Now Assad has been shamed into exile with his puppet master Russia, and Gabbard wants to be the U.S. director of national security? Given her wrongheaded judgment on al-Assad, can she be trusted with any national secrets?

It’s still not over in Syria, as now there will be a scramble to see what kind of governing democracy emerges.

Predictably, Donald Trump has said, “The United States should have nothing to do with it. This is not our fight. Let it play out. Do not get involved.”

Nouveau isolationism?

What’s happened in Syria has the potential of reshaping the politics of the entire Middle East. The U.S. can’t afford to sit back and do nothing. Now is the time to exert peaceful, diplomatic influence on how Syria maintains stability and goes forward with a new democracy.

Overall, the ouster of the dictator should give Trump pause.

If by nominating MAGA loyalists like Gabbard, Pete Hegseth and Kash Patel, Trump’s testing the evolution to strongman rule in the U.S., he should consider what happened before last weekend.

In South Korea, a weak president tried to declare martial law and was voted down by Parliament. That’s a faux strongman.

Let’s hope Trump learns a lesson from the week’s news.

The next president sets the tone for a politics that’s already toxic.

He needs to remember the joy in Syria this week when an autocrat was dumped in the name of freedom and democracy.

About the Author

Emil Guillermo is an award-winning Bay Area journalist. His commentaries are on YouTube.com/@emilamok1. Or join him at www.patreon.com/emilamok

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Black History

Biden acknowledged America’s ‘Original Sin of Slavery,’ Pledged Infrastructure Dollars and Long-Term Financial Aid

“Our people lie at the heart of a deep and profound connection that forever binds Africa and the United States together.  We remember the stolen men and women and children who were brought to our shores in chains and subjected to unimaginable cruelty,” Biden said in remarks at the National Museum of Slavery, which is built near the chapel where enslaved individuals were forcibly baptized before being sent to America. The museum was built on the property of Álvaro de Carvalho Matoso, one of the largest slave traders on the African coast. 

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President Biden met today with President João Lourenço to highlight the transformation of the U.S.-Angolan relationship and reaffirm our joint commitment to continue working together to address global challenges.
President Biden met with President João Lourenço to highlight the transformation of the U.S.-Angolan relationship and reaffirm our joint commitment to continue working together to address global challenges.

Will Biden’s aid for an above-the-ground Railroad help ease the pain for the African Americans’ Underground Railroad?

By Post Staff
And news dispatches from the Guardian, CNN and AP

When President Joe Biden went to Angola this week the purpose was ostensibly to advance the Lobito Corridor, an unfinished 800-mile railway project meant to facilitate the transfer of critical minerals from interior countries to western ports for exports.

But in a visit to the country’s slave museum, he acknowledged America’s dark past and its connection to Angola in the presence of three descendants of the first captives who arrived in Virginia from Angola in 1619.

The child of two of those captives — Antony and Isabella — was William Tucker, born around 1623. Three of his descendants were present when Biden spoke at the country’s slave museum and humbly acknowledged how the horrific history of slavery has connected the United States and Angola.

“While history can be hidden, it cannot and should not be erased. It should be faced. It’s our duty to face our history,” he said. “The good, the bad and the ugly. The whole truth. That’s what great nations do,” he said.

“It was the beginning of slavery in the United States. Cruel. Brutal. Dehumanizing. Our nation’s original sin. Original sin. One that’s haunted America and cast a long shadow ever since,” Biden spoke as he honored the Tucker family.

After introducing Wanda Tucker, Vincent Tucker and Carlita Tucker, he delivered a hopeful vision for the future in a major speech from the country that was the point of departure for millions of enslaved Africans.

(Wanda Tucker now serves as the faculty chair of psychology, philosophy and religious studies at Rio Salado College in Arizona.)

“Our people lie at the heart of a deep and profound connection that forever binds Africa and the United States together.  We remember the stolen men and women and children who were brought to our shores in chains and subjected to unimaginable cruelty,” Biden said in remarks at the National Museum of Slavery, which is built near the chapel where enslaved individuals were forcibly baptized before being sent to America.

The museum was built on the property of Álvaro de Carvalho Matoso, one of the largest slave traders on the African coast.

Biden told the attendees that he’s proud to be the first president to visit Angola and that he’s “deeply optimistic” about the future relationship between the nation and the US.

“The story of Angola and the United States holds a lesson for the world. Two nations with a shared history, an evil of human bondage,” Biden said. “Two nations on the opposite sides of the Cold War, the defining struggle of the late part of the 20th century. And now, two nations standing shoulder to shoulder working together every day. It’s a reminder that no nation need be permanently the adversary of another.”

Biden’s trip aimed to highlight U.S. investments in Angola and the continent in the face of deepening Chinese influence in the region, as Beijing has poured hundreds of billions of dollars into Africa through its Belt and Road Initiative.

Biden took a swipe at China’s moves, without calling out the country by name, and argued the US presents a better alternative.

“The United States understands how we invest in Africa is as important as how much we invest,” Biden said.

“In too many places, 10 years after the so-called investment was made, workers are still coming home on a dirt road and without electricity, a village without a school, a city without a hospital, a country under crushing debt. We seek a better way, transparent, high standard, open access to investment that protects workers and the rule of law and the environment. It can be done and will be done,” the president said.

Biden’s speech comes during what likely could be his last trip abroad as president and as he seeks to deepen relationships with Angola and other African nations at a time when China has made significant inroads in the continent with hundreds of billions of dollars of infrastructure investments, far outpacing the U.S.

During his remarks, Biden touted U.S. efforts to expand its relationships across Africa, including billions of dollars in investments in Angola.

He also announced over $1 billion in new US humanitarian assistance for Africans who have been displaced by historic droughts across the continent.

“But we know African leaders and citizens are seeking more than just aid. You seek investment.

So, the United States is expanding its relationships all across Africa,” Biden said, adding later: “Moving from patrons to partners.”

Ahead of his remarks, the president also met with Angolan leaders, including young people at the museum.

Biden started his day with a bilateral meeting with Angolan President João Manuel Gonçalves Lourenço at the presidential palace in Luanda.

The two men discussed trade and infrastructure, including the US and Europe’s investment in the railroad. They also discussed mutual security interests as Angola has played a key mediating role in the conflict in the eastern Democratic Republic of the Congo.

In November, Angola announced their Incremental Production Decree of fiscal terms designed to enhance the commercial viability of developing oil and gas fields. The decree enhances the commercial viability of developing fields in mature blocks, underexplored areas and stranded resources, while encouraging exploration near existing infrastructure. The US Railroad infrastructure investments could play a major role in enabling increased recovery from producing fields and extending the lifespan of critical infrastructure, the decree is set to generate billions in offshore investments, create jobs and drive economic growth, solidifying Angola’s position as a leading oil and gas producer.

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Activism

South African Solidarity Committee Hosts 31st Annual Celebration

“We’re all together for each other celebrating 31 years of building international solidarity between the people of the United States and South Africa toward the implementation of the 1955 Freedom Charter and 2030 Sustainable Development Goals,” said COSAS Operations Manager Nicole Richards.Located in Berkeley, COSAS is dedicated to the continuing struggle by the people of South Africa’s need for independence.

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Zimbabwean dance and music group performs at COSAS' 31 Year Celebration at the East Bay Church of Religious Science. Photo By Carla Thomas.
Zimbabwean dance and music group performs at COSAS' 31 Year Celebration at the East Bay Church of Religious Science. Photo By Carla Thomas.

By Carla Thomas

The Committee of South African Solidarity (COSAS) celebrated its 31st anniversary on Saturday, Oct. 26 at the East Bay Church of Religious Science in Oakland.

Themed “Ubuntu,” a word in Zulu and Xhosa, which means “I am because we are,” the event brought together supporters and community members.

“We’re all together for each other celebrating 31 years of building international solidarity between the people of the United States and South Africa toward the implementation of the 1955 Freedom Charter and 2030 Sustainable Development Goals,” said COSAS Operations Manager Nicole Richards.

Located in Berkeley, COSAS is dedicated to the continuing struggle by the people of South Africa’s need for independence.

A soulful meal was prepared by Chef Rene Johnson and Blackberry Soul Catering along with live entertainment and speakers.

COSAS is an all-volunteer, private membership organization, made up of South Africans, Africans, students, professionals, clergy and others committed to building solidarity between the working people of the U.S. and the South African people still struggling for economic and political freedom.

Formed in 1993, the organization promotes the “real nature” of the changes and struggles taking place in South Africa and the African continent, according to Richards.

“COSAS counters ‘disinformation’ and ‘misinformation’ in the U.S. and Western mainstream media that creates division and distrust,” Richards said. “We produce the South African Beacon and organize and transport solidarity shipments of school supplies to South African grade schools requesting assistance,” Richards said.

According to organizers, COSAS is completely run by volunteers, free from the corporate and government agendas that continue to keep South Africa dependent on the West.

“We rely on the support of concerned individuals. Call us today about how you can get involved by sorting and packing supplies, donating office equipment, and supporting special events,” said Richards.

Earlier in the year, COSAS hosted its World Affairs film showing at Downs Memorial United Methodist Church. The screening featured a short film, “Feeding a Crisis: Africa’s Manufactured Hunger Pandemic,” exploring the hunger challenges African countries face and approaches to resolving the issues.

Contact the Committee for South African Solidarity, 1837 Alcatraz Ave., Berkeley, CA, 510-251-0998 for volunteer opportunities and event information.

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