The World Bank approved financing of $450 million for advancing financial and digital inclusion to continue supporting the government in implementing reforms to improve financial inclusion, digital entrepreneurship and more in Morocco.

Faulu Microfinance Bank has committed KSH 1.5 billion (≈ $11.424.219,30) to enable farmers in 47 counties in Kenya to purchase farm and animal inputs.

Diamond Trust Bank and Mastercard have forged a partnership that lets the bank offer payment cards to tech-enabled companies, including fintechs in Kenya. 

The $3 million seed extension round was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round.

The agreement was concluded as part of the Regional Investments initiative launched by BCP to assist innovative Moroccan solutions.

Through the partnership, IFC will enter a risk-sharing facility with BOA Kenya that will help the bank scale up lending to small and medium-sized enterprises.

Opportunity International and Oikocredit will mobilize the funds over the next three years with an initial, near-term focus on Ghana, Kenya, Nigeria, Senegal, and Uganda.

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.

The loan will help smaller businesses across a range of sectors in Kenya access financing for working capital, expansion, and to weather the effects of COVID-19.

The financing is part of a program that supports policy measures to enable the rollout of the country’s social protection program, including the creation of digital IDs and cashless payments as part of cash transfer programs.