AfDB Approves USD 525 K Grant For Development Of Digital Hub For African Fintechs

The African Development Bank (AfDB) has signed a USD 525 K agreement to support Africa Fintech Network’s (AFN’s) digital hub project. The grant is funded by the Africa Digital Financial Inclusion Facility (ADFI), inaugurated by the AfDB Group, together with its partners, the Bill and Melinda Gates Foundation.

The Digital Hub, which is to be delivered through a strategic partnership between the Africa Fintech Network and Cenfri, will help to strengthen the fintech ecosystem across Africa, and boost the industry’s competitiveness. Other partners are Ministry of Finance of Luxembourg, and Agence Française de Développement in 2019, with the Ministry of Finance and Economy of France and the Women Entrepreneurs Finance Initiative (We-Fi).