The African Development Bank Group [to 24 January 2015]

The African Development Bank Group [to 24 January 2015]

African Development Bank and MasterCard Broaden Financial Inclusion in Africa
22/01/2015 – On Thursday, January 22 in Davos, Switzerland, the African Development Bank (AfDB) and MasterCard announced a broad collaboration that aims to expand financial inclusion across the African continent. The collaboration seeks to develop solutions that drive inclusive growth in Africa by broadening access and usage of digital financial services.

MasterCard brings proven expertise to design and scale inclusive financial services solutions and infrastructure. The AfDB actively promotes sustainable economic growth and poverty reduction in Africa. Together they will work with African governments and local private sector companies to develop and deliver affordable services that meet the needs of a wide consumer base, especially the traditionally unbanked.

Specifically, the collaboration will seek to:
:: Build cohesive African financial systems that drive inclusion at a country level and enable service delivery to traditionally excluded populations;
:: Invest in a curated set of innovative financial services companies and solutions targeted at addressing barriers that hinder financial inclusion; and
:: Share knowledge across academic, policy and commercial sectors to create thought leadership on financial inclusion and economic development.