The Indian government will donate $2m to accelerate digital financial inclusion across Africa.

The funds will be donated to the Africa Digital Financial Inclusion Facility (ADFI), housed and managed by the African Development Bank.

The news follows the release of data which highlighted that nearly half the continent’s adult population does not benefit from digital financial solutions, particularly women, youth, farmers, small businesses and rural communities.

“India’s pioneering role in digital financial services, extending financial inclusion to remote rural areas and creating infrastructure for digitisation of financial services, opens a significant opportunity to share learning and expertise”, said Manisha Sinha, ADFI Governing Council member.

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