Abidjan 22 December, 2022: The African Development Bank, through the Africa Digital Financial Inclusion facility (ADFI), signs grant agreements for over $2 million to contribute to economic growth and resilience through innovative digital financial solutions.
In December 2022, the Africa Digital Financial Inclusion Facility (ADFI) signed three agreements to further greater digital financial inclusion in Africa through the harmonisation of payment systems and gender sensitive digital financial policies and regulations in West Africa, capacity building among Africa’s fintechs and strengthening of microfinance institutions in Chad for greater economic empowerment of women and youth.
- ECOWAS Payments and Settlement Systems (EPSS) interconnection (Grant: $1 million) project: aims to contribute to the development of an integrated regional digital payments system that is cost-effective and fast through technical assistance to support and strengthen the governance framework, project management and capacity.
- Promoting economic empowerment of women and youth through digital financial and non-financial services (Grant: $650,000) project: aims to build the capacity of microfinance institutions in Chad to develop new digital financial services for excluded women and youth.
- Africa Fintech Hub initiative aims to strengthen African fintechs through an online platform (Grant: $525,000): integrate knowledge database and community collaboration facilities and showcase the works of fintechs in Africa, including those which are female-led or owned.
“The African Development Bank, through the Africa Digital Financial Inclusion Facility (ADFI), is delighted to support these initiatives with the potential to help unlock greater economic growth and resilience across the continent through digital financial infrastructure, enabling regulatory environments and innovative digital financial solutions, increasing gender inclusion and building capacity across our stakeholders,” said Sheila Okiro, ADFI Coordinator.
Africa Digital Financial Inclusion facility (ADFI):
Louise Simpson | Communications, Knowledge Management & Advocacy Consultant, ADFI | email: [email protected]