AfDB approves $1.3 million research grant to aid financial inclusion in Nigeria, two others
The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility
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The African Development Bank (AfDB) has approved two grants for research that will increase African women’s access to a range of digital financial services including loans and micro-insurance.
The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle supported by the Bank, to two financial technology firms, Pula Advisors Kenya Ltd., and M-KOPA Kenya Ltd.
Pula Advisors will use the $1 million for research of social, cultural and economic factors that impact women farmers’ access to micro-insurance in Kenya, Nigeria and Zambia. Research findings will inform the design and implementation of gender-centric insurance products. The project will be undertaken over a 3-year time frame.