AfDB to boost digital financial solutions

The African Development Bank through the Africa Digital Financial Inclusion Facility has called for project proposals that will enhance greater access and use of digital financial solutions in the continent.

This initiative is targeted at eliminating obstacles to the development and application of digital financial solutions.

This was made known in a statement publicised on the website of the bank on Thursday AfDB.

The bank noted that the digital infrastructure, policy, and regulation, as well as goods and innovation with gender inclusion and capacity building, would serve as the facility’s three key pillars.

It added that the proposal will select viable and scalable digital financial solution initiatives to promote access, quality, and usage of financial services as drivers of sustainable financial inclusion, particularly among the most vulnerable, including women, youth, and small businesses.

According to the statement, “The clients will include government ministries, Central Banks, regulatory authorities, bank, and non-bank financial institutions, mobile money operators, and payment switch companies.”