Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

AfDB set to Launch Africa Digital Financial Inclusion Facility

Tech Gist Africa by Tech Gist Africa
06/11/2019
in Africa, Africa News, News
0 0
3
AfDB set to Launch Africa Digital Financial Inclusion Facility
0
SHARES
Share on FacebookShare on Twitter

The African Development Bank and their donor partners; Bill & Melinda Gates Foundation, the Government of Luxembourg and Agence Française de Développement; is set to launch the African Digital Financial Inclusion Facility (AFDI). They plan to launch it on the 12th of June 2019, during their Annual Meeting in Malabo, Equatorial Guinea.

The AFDI is designed to accelerate digital financial inclusions within Africa. To ensure that more Africans have access to the formal economy, they will support over 332 million Africans, of which 60% are women.

This initiative is coming at a time when digital services are important for financial inclusion, gender equality and inclusive economic growth. The services serve as a gateway for financial inclusion in low and middle-income countries.


See also: Altron BPS Launches Advanced Microsoft Cloud Academy for Professionals


According to the McKinsey Global Institute estimation, the adoption of digital payments and financial services might increase the GDP of all emerging markets by 6%, a total of $3.7 trillion by 2025. This could create about 95 million new jobs across all sectors of the economy, increase general productivity and investment levels, and reduce leakages in government spending.  Africa needs to leverage this opportunity to harness and build economies that are more inclusive.

As a forerunner to the launch of ADFI, the AfDB will support the Central Bank of West African States (BCEAO) with the sum of $11.3 million grant from the Bill and Melinda Gates Foundation. The BCEAO will leverage this fund to upgrade the digital payment systems of the eight West African countries belonging to the West African Economic and Monetary Union (WAEMU).

They will see to it that mobile network operators, microfinance institutions and fintechs become part of the payments ecosystem in the eight countries and will support micropayments over mobile phones on the shared system.

The sole purpose of this project is to increase financial inclusion, trade and cross border transactions in the WAEMU region. This project will be carried out along four key pillars to scale innovative digital financial inclusion and increase integration all over Africa. They include payment systems development and interoperability; digital products and innovation; policy regulatory reform and harmonization; and capacity building.

 

More on TechGist Africa:

  • African Union signs New Deal with Huawei amidst Spying Allegations
  • DHL’s new e-Commerce Platform, eShop Expands to more African Countries
  • Paradigm Initiative Criticizes Liberia’s Internet Shut Down
  • Nigerian Students Among Top winners of Huawei ICT Competition
  • FarmRanger uses Technology to track Livestock in Southern Africa; and we find that interesting.
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across Africa and sharing simple social media and digital marketing tips for startups, entrepreneurs and business owners.

Related Posts

Apple WWDC 2025
Events

Apple Unveils iOS 26, macOS Tahoe, and AI Innovations at WWDC 2025

by Tech Gist Africa
06/15/2025
0

Apple kicked off its annual Worldwide Developers Conference (WWDC) with a series of announcements highlighting significant advancements in software design...

Read more
Zero Carbon Charge South Africa

Zero Carbon Charge, a South African startup secures US$5.6 Million investment

06/15/2025
Kera Senegal

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

06/15/2025
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Next Post
Facebook Italy

Facebook Bans Pre-installation of apps on Huawei phones

Big Five Daily

AfDB set to Launch Africa Digital Financial Inclusion Facility, Facebook Bans Pre-installation of apps on Huawei phones and More

Multichoice ShowMax test-runs Live TV Features

Multichoice ShowMax test-runs Live TV Features

Comments 3

  1. Pingback: Multichoice ShowMax test-runs Live TV Features | NAIJA NEWS AGENCY
  2. Pingback: Inlaks to precede the Launch of Its Innovation Lab with a Hackathon | NAIJA NEWS AGENCY
  3. Pingback: AfDB Launches “Boost Africa� E-lab in Five African Countries | NAIJA NEWS AGENCY
No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.