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Germany to support digital finance investments in Africa

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Thursday, 08 November 2018

Germany to support digital finance investments in Africa

The International Finance Corporation (IFC) in partnership with the German Ministry for Economic Cooperation and Development (BMZ) and Making Finance Work for Africa have affirmed their commitment in strengthening digital finance investments in Africa. This comes as IFC held its ninth annual Responsible Finance Forum (RFF) in Tanzania, funded by BMZ, and its first ever to be held in Africa. A member of the World Bank Group, IFC is keen to support responsible digital finance investments in the continent with support from its partners, a move aimed at bridging the wide gap between the banked and unbanked population. The meeting recently held in Dar-es Salaam saw signatories to the Guidelines for Investing in Responsible Digital Financial Services – an initiative launched jointly by IFC and leading investors and digital finance innovators in June 2018, grow to 80 organizations, proving a major boost for this strategically important initiative. The RFF gathered together leading investors, policymakers and practitioners to assess critical challenges in financial services in Africa where a large number of women, rural poor and Micro, Small and Medium Enterprises remain financially excluded.

Source: exchange.co.tz