African Development Bank and MasterCard partner to broaden financial inclusion in Africa

At the World Economic Forum in Davos, Ajay Banga, MasterCard’s president and CEO (left), and Donald Kaberuka, the African Development Bank’s president (right), have announced a significant partnership to boost financial inclusion in Africa. Photo by Buholzer

Today, the African Development Bank (AfDB) and MasterCard announced a broad collaboration that aims to expand financial inclusion across the African continent.

The collaboration seeks to develop solutions that drive inclusive growth in Africa by broadening access and usage of digital financial services.

MasterCard brings proven expertise to design and scale inclusive financial services solutions and infrastructure. The AfDB actively promotes sustainable economic growth and poverty reduction in Africa.

Together the AfDB and MasterCard will work with African governments and local private sector companies to develop and deliver affordable services that meet the needs of a wide consumer base, especially the traditionally unbanked.

Read more: African Development Bank and MasterCard Broaden Financial Inclusion in Africa | Global Hub.