African Fintech Firms Get AfDB's Approval Of $525,000

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An online digital hub has gotten the African Development Bank (AfDB)'s approval $525,000 grant to serve as a repository of knowledge for fintech entities in Africa.

This was made known 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.

Lamin Barrow, the Director-General, AfDB Nigeria Country Department, who spoke during the signing ceremony in Abuja said that the project would be executed by the Africa Fintech Network and Cenfri.

Cenfri is a non-profit think tank that supports financial sector development and financial inclusion in Africa.

He said, “This grant, in the amount of $525,000, will support the operationalisation 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.”

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