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AFD to Expose 332 million Africans to Formal Economy

AFD to Expose 332 million Africans to Formal Economy
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EthSwitch, Ethiopia's e-payments provider, secures $2.33 million grant from the African Development Bank

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Electronic payments in Ethiopia are about to get a facelift following the approval of a $2.33 million grant by the African Development Bank (AfDB) for EthSwitch.
EthSwitch is the official backbone for e-payments providers and end-users in the country. It runs Ethiopay, the card scheme that helps Ethiopian banks issue payment cards. As the countryâs national payment switch, EthSwitch also handles dispute resolution for financial institutions.
The National Bank of Ethiopia facilitated EthSwitchâs establishment in 2011 and owns a 46% stake in the company, while commercial banks (about 17 of them) in Ethiopia own the rest. The intention was to create a modern national payments system and accelerate financial inclusion in the country. ....

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AfDB's Board Approves $1.024 Million Grant for 3 African Countries

AfDB’s Board Approves $1.024 Million Grant for 3 African Countries
AfDB’s Board Approves $1.024 Million Grant for 3 African Countries
African Development Bank’s (AfDB) Board of Directors has approved a grant of $1.024 million for artificial intelligence enabled systems to process customer complaints on behalf of the national banks of Ghana and Rwanda and the Competition and Consumer Protection Commission of Zambia.
The grant resources are from the special fund of the Africa Digital Financial Inclusion Facility (ADFI), a financing vehicle to accelerate digital financial inclusion across Africa.
ADFI is a pan-African instrument designed to accelerate digital financial inclusion throughout Africa, with the goal of ensuring that an additional 332 million Africans (60% of them women) have access to the formal economy. ....

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AfDB provides $1 million for AI-based national customer management systems in Ghana, Rwanda and Zambia

AfDB provides $1 million for AI-based national customer management systems in Ghana, Rwanda and Zambia
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