Sub-Saharan Africa remains largely unbanked. 85 percent of the population remain excluded from basic financial services such as savings, insurance, and credit. Financial institutions working in the region face multiple barriers to reach their customers and achieve sustainable growth, including lack of access to basic infrastructure, human capital and low population density.
Through this new partnership, IFC and The MasterCard Foundation will help microfinance banks expand more rapidly and develop new products and cost-effective delivery channels, while expanding coverage in new, often hard-to-reach locations. The project will also help deliver low-cost mobile financial services to low-income customers.
|Location||Central Africa, West Africa, Eastern Africa|
|Value||USD 37.4 Million|