Browsing: Financial inclusion youth and women in Africa

• In 2021, 76 percent of adults had an account at a bank or regulated institution
• Financing will enable African nations to expand portfolio of digital financial solutions and initiatives
• The facility will be housed and managed by the African Development Bank,

India will contribute $2 million to the Africa Digital Financial Inclusion Facility (ADFI), in an effort to break the barrier to growth and spur uptake of digital financial solutions.

The facility will be housed and managed by the African Development Bank. It will mainly focus on accelerating financial inclusion in Africa, India said.

India is recognised globally for the success of its digital public payments system. The country’s collaboration with ADFI enables the facility to learn from best practices and help scale up initiative. The program aims to meet the needs of financially excluded and underserved people in Africa.

Africa yet to fully benefit from inclusion

Despite the growing …