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AfDB grants $2 33 mln to support electronic payments infrastructure
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Shared financial security in the works to combat hacks
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AFD to Expose 332 million Africans to Formal Economy
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Nigeria, Others to benefit from $6.95mn ADFI grant 2 min read
The Africa Digital Financial Inclusion Facility (ADFI) is offering six grants valued at USD6.95 million to finance digital financial inclusion in Africa.
The grant is supported by the French Development Agency (AFD) and hosted by the African Development Bank (AfDB).
A statement from the French Development Agency (AFD) on Friday said the Africa Digital Financial Inclusion Facility (ADFI) offer is intended to reduce Africa’s existing gender gap in digital financial services.
ADFI, established by the African Development Bank (AfDB), is co-financed by AFD, the Ministry of the Economy and Finance of the Government of France, the Ministry of Finance of the Government of Luxembourg and the Bill and Melinda Gates Foundation.
AfDB Approves $2.33 Mn Grant to Help Modernize Ethiopia s e-Payment Infrastructure
The Board of Directors of the African Development Bank (AfDB) has approved a grant of $2.33 million to EthSwitch Share Company, an initiative led by the National Bank of Ethiopia, for the modernization of its payments infrastructure. The grant is resourced from the special fund of the Africa Digital Financial Inclusion Facility (ADFI), a pan African initiative that aims to facilitate digital financial inclusion for an estimated 332M unbanked population across the African continent, 60% of whom are women.
On its website, the African Development Bank stated that it believes the provision of interoperable payment systems that are aligned to Level One Principles of reach, safety and affordability, provide the needed grounding to accelerate financial inclusion on the continent and enable opportunities for people in low-income groups, especially women.