Mastercard and the African Development Bank Group (AfDB) have launched the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa aiming to extend digital access to critical services for 100 million individuals and businesses in Africa over the next decade.
The announcement was made during the U.S.-Africa Business Forum, hosted by the U.S. Chamber of Commerce.
The MADE Alliance: Africa will initially focus on supporting the agricultural sector and women.
Mastercard CEO emphasized that the MADE Alliance aims to provide greater digital access to critical services for 100 million people across Africa.
“Mastercard’s work leading the new MADE Alliance: Africa aims to provide 100 million people greater digital access to critical services,” said Michael Miebach, CEO of Mastercard.
Mastercard Supporting Success in Africa
One of the first efforts will be a pilot program launching this year to support three million farmers in Kenya, Tanzania, and Nigeria.
“Across Africa, people are driving new growth and opportunity, and Mastercard wants to support their success. This Alliance builds on the innovations and investments we are already making with partners in 45 countries to enhance Africa’s digital infrastructure and accelerate inclusive growth,” he added.
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Mastercard is building upon existing innovations and investments in 45 countries to enhance Africa’s digital infrastructure and drive inclusive growth.
The AfDB President Dr. Akinwumi A. Adesina said digitalization via Mastercard Community Pass will play a vital role in increasing adoption of agricultural technologies.
The African Development Bank Group
“The African Development Bank Group believes that digitalization via Mastercard Community Pass can play a vital role in increasing the adoption of agricultural technologies to help feed Africa,” Dr. Adesina said.
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We applaud U.S. Vice President Kamala Harris’ commitment to financial and digital inclusion in Africa,” Dr. Akinwumi A. Adesina continued.
The multilateral lender will invest $300 million to support Alliance programs, providing funding for digital infrastructure and incentivizing ecosystem actors to enhance digital access.
World Bank has approved $1.2Billion (Ksh155.7B) funding to support Kenya’s Fiscal Sustainability and Resilient Growth Development Policy Operation (DPO).
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