The National Bank of Samoa (nbs) is developing a suite of new banking products that would benefit women entrepreneurs and improve remittances in Samoa with the support of IFC and the New Zealand Government.

The association, known as the Congolese Fintech Network, will seek to enhance access to investment opportunities and promote information sharing in Congo, with a goal to accelerate financial inclusion.

The strategic partnership aims to facilitate financial inclusion by providing consumers and businesses with a new and effortless way to conduct e-commerce transactions in the Democratic Republic of Congo.

The product which was developed by the Pacific Insurance and Climate Adaptation Programme, will be piloted in Samoa over the next 12 months.

International Finance Corporation will invest up to $4 million equivalent in Samoan Tala to boost access to finance for small and medium enterprises particularly women-led businesses and SMEs focused on agriculture.

The new national digital payment platform, the Samoa Automated Transfer System (SATS), is expected to increase access to the financial system for all Samoans.

The grant will allow Opportunity International to provide micro and small business loans, digital tools and specialized technical training to women-led small- and micro businesses in the Democratic Republic of the Congo (DRC), Ghana, Nigeria and Uganda.

Microfinance-supported entrepreneurs have exhibited the same resourcefulness that has characterized many other small businesses during the pandemic. At the same time, they face a variety of ongoing challenges.

Congo-based fintech Flash has launched a payment tool including a Visa card offering, Flash Money, for the Congolese market.