Launch of the Africa Digital Financial Inclusion Facility
The African Development Bank, with donor partners, including the Bill & Melinda Gates Foundation, The Government of Luxembourg and Agence Française de Développement, will launch the Africa Digital Financial Inclusion Facility (ADFI) on 12 June 2019 at the Bank’s Annual Meetings in Malabo, Equatorial Guinea. ADFI is an innovative financing facility designed to accelerate digital financial inclusion across Africa, with a goal of ensuring that 332 million more Africans, of which, 60 percent are women, have access to the formal economy.
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.