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 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.

Through this new facility the fintech lender will be able to channel the funds via its range of tailored financing solutions across SME segments across all its five markets.

The two countries are looking towards financial sector digitalization. A conference slated for June in Zurich seeks to do just that. 

Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

Singapore residents are increasingly adopting digital payments due to the COVID-19 pandemic, according to a GlobalData report.

Singapore is planning an online and physical fintech festival amid the spread of the coronavirus across the globe.

The global fintech challenge aims to offer solutions that can help financial institutions grapple with the existential threats posed by COVID-19 and climate change.

The SG$6 million ($3.44 million) grant can be used by local fintech companies to cover their daily working capital expenses and finance new product development work with financial institutions.