Connect with us

     

Business

AfDB, partners to launch ADFl inclusion facility

Published

on

AfDB, partners to launch ADFl inclusion facility

 

 

The African Development Bank (AfDB), with donor partners, will launch the Africa Digital Financial Inclusion Facility (ADFI) on 12 June 2019 at the Bank’s Annual Meetings in Malabo, Equatorial Guinea, the multilateral lender has said.

 

In a press release, the AfDB said the ADFI is an innovative financing facility designed to accelerate digital financial inclusion across Africa, with a goal of ensuring that 332 million more Africans, of which, 60per cent are women, have access to the formal economy.

 

According to the press release, digital financial services are emerging as a powerful force for financial inclusion, gender equality and inclusive economic growth. For consumers in low and middle-income countries, digital financial tools, such as mobile payment systems, provide a gateway to greater economic security, empowerment and opportunity.

It noted that although there is a growing ownership of mobile phones in Africa, the benefits of digital financial inclusion have not been fully harnessed.

 

The Malabo launch will outline the Fund’s objectives, structure and focus areas. Donor partners, including the Bill & Melinda Gates Foundation, The Government of Luxembourg and Agence Française de Développement, will discuss challenges and opportunities around digital financial inclusion during a panel discussion.

Advertisements
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Categories

Facebook

Trending

Take advantage of our impressive online traffic; advertise your brands and products on this site. Call For Advert Placement and Enquiries, Call: Mobile Phone:+234 803 304 2915 Online Editor: Michael Abimboye Mobile Phone: 0813 699 6757 Email: mmakesense@gmail.com Copyright © 2018 NewTelegraph Newspaper.

%d bloggers like this: