Launch of the Mass Market Financial Inclusion Programme
Thursday, July 7, 2016
Press Release: In partnership with the MasterCard Foundation, Microcred Group, a digital finance group specialized in financial inclusion especially for micro-businesses and SMEs in Africa and China, launched the Mass Market Financial Inclusion Programme in the Ivory Coast, Senegal and Madagascar.
With funding to the tune of €12 million from the MasterCard Foundation, Microcred will extend its services to over 1.2 million clients in these three countries by June 2019. Over 2 billion people worldwide still do not have access to formal financial services. In Africa, an estimated 350 million people have no access to banking. Mobile Money’s success in Africa shows that this problem is not due to a lack of demand but clearly to the limited offer.
To meet this demand, Microcred in collaboration with the MasterCard Foundation, has launched this vast financial inclusion programme in the Ivory Coast, Senegal and Madagascar pairing technology with a customer-centric approach.