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<p>We are already doing almost everything on our phones, from buying online to requesting a lift to wherever you would like to go. But Mastercard believes more work needs to be done to further normalize digital transactions through, financial inclusion. Raghav Prasad, Mastercard Division President for Sub-Saharan Africa joins CNBC Africa for more.</p>


How digitalization can help expand financial inclusion in SSA

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<p>Vodacom is offering its customers the ability to “get it now” or “pay for it later”.</p>


Vodacom customers can now buy fast food on credit

Vodacom customers can now buy fast food on credit, here’s how

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<p>Over a billion people across the world entered into the financial system between 2011 and 2017. However, the number of women who own an account with a financial institution has been growing at a sluggish pace especially in low- and middle-income countries. To understand causes and solutions, CNBC Africa spoke to Bryan Pon, Co-founder of Caribou Data.</p>


How to address gender gaps in digital financial inclusion

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<p>Enhancing Financial Innovation and Access; EFINA, has unveiled a framework for advancing financial inclusion for women in Nigeria in collaboration with the Central Bank of Nigeria and the National Financial Inclusion Special Intervention Working Group. EFINA is also calling for proposals from individuals, households and small businesses for its Covid-19 grant, to mitigate the impact of the pandemic. Ashley Immanuel, CEO of EFINA joins CNBC Africa’s Kenneth Igbomor to discuss the objectives of the framework and more.</p>


EFINA partners CBN on framework for advancing women’s financial inclusion

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<p>CNBC Africa spoke with Mamadou Biteye, Vice President, Social Impact, Central Eastern Europe, Middle East and Africa at VISA on their partnership with STEMPower to drive up driving financial inclusion and job creation in Ethiopia.</p>


Visa moves to drive up financial inclusion in Ethiopia

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<p>The 2020 Mastercard Gig Economy Industry Outlook report indicates that there is rapid development of the global Gig Economy, projecting double-digit annual growth for the industry over the next five years. CNBC Africa spoke with Ngozi Megwa, Senior vice President, Digital Partnerships, Middle East and Africa at Mastercard on the purpose of the study and the impact this fast-growing industry has on the East African economy.</p>


How the digital use is powering up the gig economy in East Africa

How digital technology is powering up East Africa’s growing gig economy

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<p>Mastercard has launched Fintech Express designed to facilitate emerging fintechs’ launch and expansion in the Middle East and Africa. With the power of partnerships and Mastercard’s expertise, technology, and global network, start-ups will be able to focus on innovation that drives the digital economy. On more on this we had a conversation with Gaurang Shah, Senior Vice President, Digital payments and labs for Middle East and Africa at Mastercard.</p>


Mastercard empowers Middle East & Africa fintechs to launch and expand rapidly

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<p>Voices are getting louder around the topic of financial inclusion and ownership in corporates. These efforts aim to change the status quo, so that we can build an inclusive economy amid and post COVID-19. The conversation around equity ownership for lower level employees in companies is gaining traction and Ian Fuhr, Founder of The Hatch Institute &#038; Sorbet Group joins CNBC Africa for more.</p>


How low should financial inclusion & ownership go?

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<p>The current pandemic has radically transformed the world of business, with many having to adapt fast and use unconventional methods to keep their businesses working. Dare Okoudjou, CEO and Founder of MFS Africa joined CNBC Africa on how to solve the money transfer challenge that is preventing African businesses from growing as much as they should.</p>


MSF Africa CEO on how to solve money transfer challenges in Africa amid COVID-19

MFS Africa CEO on how to solve money transfer challenges in Africa amid COVID-19

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<p>Digital transformation is a regarded as a key to drive up financial inclusion in Africa and open banking is one of the trends that are reshaping financial services. Polys Hadjikyriakos, Chief Business Development Officer at NETinfo Plc explains why the continent should embrace it.</p>


Why Africa should embrace open banking

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<p>The Covid-19 pandemic is making businesses shift their models to working remotely, thereby making authenticated identity increasingly critical to unlock financial inclusion, drive e-commerce and financial services. Esigie Aguele, CEO of Nigerian KYC start-up; Verifyme joins CNBC Africa for more.</p>


COVID-19: Authenticated identity becoming critical as businesses work remotely

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<p>The great lock-down as it has come to be called accelerated the need for innovative ways as it became more evident that getting financial support to those most in need had become a practical challenge. But how quick could countries accelerate financial inclusion, Raghav Prasad, Division President, Sub-Saharan Africa, Mastercard joins CNBC Africa for more.</p>


Mastercard on how to accelerate financial inclusion amid the COVID-19 crisis

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<p>This week, Made in Rwanda cashless payment app, Nokanda, a product of software company, Hexacomb; rose to the number one spot on Google Play Store’s, “Top Free” category in Rwanda. The ranking, which often belongs to social media giants such as, WhatsApp and Facebook reflects a change in priorities for mobile users in the country. CNBC Africa spoke to Ernest Kayinamura, founder and CEO of the company for more.</p>


Nokanda becomes first locally made App to rank #1 on Google Play Store Rwanda

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<p>The FinScope 2020 survey has revealed that access to formal financial services in Rwanda rose by 4 per cent to 93 per cent from 89 per cent in 2016, mainly driven by the rise in informal savings groups as well as the rise in mobile money services. However, the report highlighted low levels of formal banking due to affordability and other issues. Financial literacy expert Isaac Nkusi Zirimwabagabo joins CNBC Africa for more.</p>


FinScope 2020: Rwanda’s financial inclusion rises

FinScope 2020: Rwanda’s financial inclusion rises, banking uptake sluggish

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<p>Prior to the Covid-19 pandemic the Central Bank of Nigeria planned to achieve 80 per cent financial inclusion across its formal and informal sectors by 2020. Managing Director and CEO, VFD Microfinance Bank, Zuby Emodi, joins CNBC Africa to discuss innovative banking and how Nigeria can achieve its set financial inclusion goals.</p>


VFD Microfinance Bank on innovative banking in a COVID-19 world

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<p>Achieving financial inclusion for women in Africa is not only beneficial to the women on the continent but has a greater economic impact on Africa according to distinguished scholar Dr. Tererai Trent. CNBC Africa&#8217;s Arnold Kwizera spoke with Dr. Trent for more.</p>


How gender inclusivity makes women businesses more financially viable


<p><strong>Kigali, Rwanda, 25 November 2019 –</strong> African Development Bank President Akinwumi Adesina has called for greater access to finance for African women when he addressed the inaugural session of the Global Gender Summit.</p>



<p>&#8220;When women borrow, they
always repay. And 90% of them repay their loans without the least problem. So,
where is the risk? The problem is prejudice and the banks&#8217; lack of flexibility.
We must leave this behind to allow women access to financing,&#8221; President
Adesina urged.</p>



<p>The session headed &#8220;<strong>Unlocking women&#8217;s access
to finance in Africa</strong>&#8221; had a panel of high-level speakers,
including Salimata Diop Dieng, the Senegalese Minister of Women, Family and
Gender; Andrew Temu, President of the African Guarantee Fund; Kennedy Uzoka,
President and CEO of United Bank of Africa (UBA); Joséphine Anan-Ankomah, CEO
of Ecobank Group; and Christine Ngiriye, an entrepreneur.</p>



<p>Salimata Diop Deng said,
&#8220;It is important that financial institutions support initiatives from
women. They have the market gardens and produce to process. They create
start-ups in innovative areas. But they lack resources and collateral, and the
procedures for accessing loans are complicated. These women have relatively
moderate finance needs, just enough to create projects and jobs. They need
support from the private sector and the banks to help them weave their way into
the economy.&#8221;</p>



<p>Andrew Temu advocated
&#8220;holding discussions with countries to improve the business environment.
What is especially needed is legislation that reassures the banks. There are a
number of actors, banks, investors, entrepreneurs and clients operating within
the economic market. Everyone needs to be in communication to address the
risks.&#8221;</p>



<p>For Anan-Ankomah, ECOBANK is
already making big strides to gender parity. The pan-African bank has signed up
to the African Union gender parity principle of 50/50. “Currently we are at 46%
and out of that, 30% of those women are in senior management positions,” she
said.</p>



<p>Ngiriye said that she had seen
little change in nearly 30 years: &#8220;The problem that comes up again and
again is that of collateral.”</p>



<p>According to Adesina the
financial sector had a responsibility to the women of Africa. And he made an
announcement: &#8220;From now on, we shall be grading every African financial
institution for how well it helps women. Every financial ecosystem must evolve
to support women. And we are going to put pressure on the guarantee
banks.&#8221;</p>



<p>The African Development Bank and the government of Rwanda are hosting the Global Gender Summit from 25 to 27 November in Kigali. The Summit is being organised by the Multilateral Development Banks’ (MDBs) Working Group on gender for the first time in Africa.</p>



<p><em>Content provided by African Development Bank </em></p>


financial inclusion

How digitalization can help expand financial inclusion in SSA

Vodacom customers can now buy fast food on credit, here’s how

How to address gender gaps in digital financial inclusion

EFINA partners CBN on framework for advancing women’s financial inclusion

Visa moves to drive up financial inclusion in Ethiopia

How digital technology is powering up East Africa’s growing gig economy

Mastercard empowers Middle East & Africa fintechs to launch and expand rapidly

How low should financial inclusion & ownership go?

MFS Africa CEO on how to solve money transfer challenges in Africa amid COVID-19

Why Africa should embrace open banking

COVID-19: Authenticated identity becoming critical as businesses work remotely

Mastercard on how to accelerate financial inclusion amid the COVID-19 crisis

Nokanda becomes first locally made App to rank #1 on Google Play Store Rwanda

FinScope 2020: Rwanda’s financial inclusion rises, banking uptake sluggish

VFD Microfinance Bank on innovative banking in a COVID-19 world

How gender inclusivity makes women businesses more financially viable

Global Gender Summit 2019: “Put prejudice behind us and give women access to finance” says Akinwumi Adesina

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financial inclusion

How digitalization can help expand financial inclusion in SSA

Vodacom customers can now buy fast food on credit, here’s how

How to address gender gaps in digital financial inclusion

EFINA partners CBN on framework for advancing women’s financial inclusion

Visa moves to drive up financial inclusion in Ethiopia

How digital technology is powering up East Africa’s growing gig economy

Mastercard empowers Middle East & Africa fintechs to launch and expand rapidly

How low should financial inclusion & ownership go?

MFS Africa CEO on how to solve money transfer challenges in Africa amid COVID-19

Why Africa should embrace open banking

COVID-19: Authenticated identity becoming critical as businesses work remotely

Mastercard on how to accelerate financial inclusion amid the COVID-19 crisis

Nokanda becomes first locally made App to rank #1 on Google Play Store Rwanda

FinScope 2020: Rwanda’s financial inclusion rises, banking uptake sluggish

VFD Microfinance Bank on innovative banking in a COVID-19 world

How gender inclusivity makes women businesses more financially viable

Global Gender Summit 2019: “Put prejudice behind us and give women access to finance” says Akinwumi Adesina

News Tips

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