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AfDB Rolls Out Digital Finance Programme For 34,000 Women Entrepreneurs

Prime Highlights-

  • Programme delivers tailored digital financial products to 34,000 women-led MSMEs in Madagascar, Tanzania and Senegal.
  • Financial literacy and digital skills training reaches 25,000 women across five African countries.

Key Facts-

  • AfDB and AXIAN Group launch a digital finance programme backing more than 34,000 women-led businesses across Africa.
  • Programme runs through AXIAN’s Mixx and MVola platforms, offering mobile money, digital lending and business support.

Background-

AXIAN Group and the African Development Bank have joined forces on a new digital finance programme, bringing more than 34,000 women-led businesses across Africa into its reach while working to widen digital finance access and strengthen literacy in both areas.

The initiative will build products tailored to women entrepreneurs, speed up mobile technology adoption, and help women-owned businesses move into the formal economy, giving them a path to more financial services and markets.

Africa holds the highest rate of female entrepreneurship in the world, and the programme is designed to help more women-owned businesses tap into the continent’s growing digital finance sector.

Backed by the AfDB’s Affirmative Finance Action for Women in Africa initiative and the Women Entrepreneurs Finance Initiative, the programme runs through AXIAN’s digital platforms, Mixx and MVola, which offer mobile money, digital lending, financial education and business support.

The programme has two parts. The first delivers tailored digital financial products to 34,000 women-led micro, small and medium enterprises in Madagascar, Tanzania and Senegal.

The second brings financial literacy, digital skills and entrepreneurship training to 25,000 women across Madagascar, Tanzania, Senegal, Togo and Comoros.

Partners said the programme will lean on mobile money, digital lending and alternative credit assessment tools to reach more women entrepreneurs and widen their growth opportunities.

AXIAN Digibank and Fintech Chief Executive Erwan Gelebart said millions of women across Africa already run successful businesses, and the programme aims to open up greater access to finance, digital tools and growth opportunities.