AfDB to launch the African Digital Financial Inclusion Facility

By Staff reporter | 12 Jun 2019 at 11:29hrs
THE African Development Bank (AfDB), with donor partners will this week launch the African Digital Financial Inclusion Facility (ADFI).

ADFI is an innovative financing facility designed to accelerate digital financial inclusion across Africa, with a goal of ensuring that 332 million more Africans, 60 percent of them being women, have access to the formal economy.

"The AfDB, with donor partners, will launch the Africa Digital Financial Inclusion Facility (ADFI) on June 12, 2019 at the bank's Annual Meetings in Malabo, Equatorial Guinea," said the institution in a statement.

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.

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.



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