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.
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Pula Advisors and M-KOPA have received received funding from AfDB to research on women’s access to digital financial services.
The African Development Bank (AfDB) has approved the two grants for research that will increase African women’s access to digital financial services including loans and micro-insurance.
The grants, for Ksh. 110 million ($1 million) and Ksh. 33 million ($300,000) respectively, will be disbursed through the Africa Digital Financial Inclusion (ADFI) facility. The facility, supported by the AfDB, will then relay the funds to two financial technology firms, Pula Advisors and M-KOPA.
Pula Advisors will use the Ksh. 110 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.
The African Development Bank (AfDB) has approved two grants worth $1.3 million for research aimed at increasing women’s access to a range of digital financial services on the continent.
African leading agricultural technology insurance company popularly known as Pula has raised $6million in Series A Fundraising activity aimed at derisking millions of smallholder farmers courtesy of TLcom Capital, with the participation of women’s World Banking.
Pula’s new ground to reach many smallholder farmers.
The new investment will be used to scale up operations in the company’s existing 13 markets across Africa. Currently, Pula has impacted over 4.3 Million farmers on the continent and the new funding will also help propel its expansion into Asia to power resilience and profitability for Asian smallholder farmers.
Speaking in an interview with