MASTERCARD AND EGABI REVOLUTIONISE DIGITAL LENDING

The African Development Fund and Smart Africa Alliance have jointly launched a US$1.5mn project to streamline digital trade and e-commerce policies across ten African countries. The project will see to the implementation of regional training and capacitybuilding programmes focusing on cross-border e-payment and e-commerce for governments, private sectors, and SMEs. These programmes are expected to reach 600 participants, with 60% being women and youth. Additionally, a certified gender-sensitive elearning training programme addressing the unique challenges faced by women in digital trade and ecommerce, will be developed and disseminated to 2,500 participants, of whom 60% will be women.

The agreement was signed on 25 April, a day ahead of the 2023 Transform Africa Summit which took place in Victoria Falls, Zimbabwe, from 26-28 April.

Mastercard has formed a partnership with egabi FSI, an IT banking solutions company, to expand access to new embedded finance and digital lending products across Eastern Europe, Middle East and Africa for financial institutions and non-traditional partners.