This was disclosed during the signing ceremony for the
Letter of Agreement between the AfDB Group and the Africa Fintech Network based
on the grant to support the Africa Fintech Hub Project.
Speaking at the signing ceremony in Abuja on Tuesday, the
Director-General, AfDB Nigeria Country Department, Mr Lamin Barrow, noted that
the project would be executed by the Africa Fintech Network and Cenfri.
He said, “This grant, in the amount of $525,000, will
support the operationalization of an online digital hub to serve as a
repository of knowledge for fintech entities across the continent, and
globally.
The Digital Hub, which is to be delivered through a
strategic partnership between the Africa Fintech Network and Cenfri, will help
to strengthen the fintech ecosystem across Africa, and boost the industry’s
competitiveness.”
Barrow further noted that the grant is funded by the Africa Digital
Financial Inclusion Facility, launched by the AfDB Group, alongside its
partners, such as the Bill & Melinda Gates Foundation, Ministry of Finance of Luxembourg, and Agence
Française de Développement, among others.
He added that fintechs provide powerful, readily available
and effective digital financial solutions to help bridge the financial
inclusion gap.
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