Friday
June 14
2019

African Development Bank launches Africa Digital Financial Inclusion Facility

By Dibie Ike Michael

The African Development Bank and its partners on Wednesday launched the Africa Digital Financial Inclusion Facility (ADFI), designed to aid safety and expansion of digital financial transactions in Africa.

The Fund, launched at the Bank’s Annual Meetings in Malabo, Equatorial Guinea, is supported by the Bill & Melinda Gates Foundation, the Agence Française de Développement (AFD) and the Government of Luxembourg, as initial contributors.

Bank Vice President Pierre Guislain, Private Sector, Infrastructure and Industrialization, said the goal is to ensure that at least 320 million more Africans, of which nearly 60% are women, have access to digital financial services.

Photo courtesy of Opportunity International/UNCDF.

Source: africanews (link opens in a new window)

Categories
Finance
Tags
Bill & Melinda Gates Foundation, DFS, digital finance, financial inclusion, fintech, global development