The digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.

The UNCDF designed the Local Climate Adaptive Living Facility (LoCAL) to help strengthen the resilience of vulnerable communities such as Saponé in the Centre-Sud Region, Loumbila in the Plateau-Central Region and Pabré in the Centre Region of Burkina Faso. 

Join financial inclusion leaders from around the globe to accelerate HER economy!

Through its subsidiaries, Baobab provides financial services to half a million microentrepreneurs and small businesses, thus allowing access to financing to people who are not currently supported by traditional banks.

The partnership will see the launch of two unique card products designed to meet the growing needs of businesses and underbanked individuals, supported by a feature-rich digital app powered by Mastercard’s secure, contactless payment technology.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.