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Digital Financial Inclusion Facility

AfDB approves $1.3 million grant for female financial inclusion research in Africa

The African Development Bank (AfDB) has approved two grants worth $1.3 million for research aimed at increasing women’s access to a range of digital financial services on the continent. In a statement on Monday, AfDB said the grants will be disbursed by Africa digital financial inclusion facility (ADFI), a blended finance vehicle supported by the bank. The grants will be disbursed to two fintech firms, Pula Advisors Kenya and M-KOPA Kenya. AfDB said Pula Advisors will use the $1 million for research of social and economic factors that impact women farmers’ access to microinsurance in Kenya, Nigeria and Zambia while M-KOPA will use the $300,000 funding for research involving 500 women and men in Kenya’s Kisumu, Eldoret and Machakos counties. It said findings from the research will inform th...