Africa is at the forefront of a digital financial transformation as the continent leads the world in mobile money inclusion.

The loan is extended within the Western Balkans SME Competitiveness Support Program with the support by the EU, which is providing incentive payments and technical assistance.

Through the investment, the partners aim to facilitate farmers’ ability to access much-needed financing to sustain their businesses using local currency.

Senior loan equivalent of EUR 2 million to be on-lent to underserved local entrepreneurs to sustain small business operations.

This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.

IFC's $5 million investment will provide critical working capital to help them continue their operations and stay afloat during the ongoing public health crisis.

A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which was designed to also cater for loan, savings, funds transfer services, investment, bill payment and others.

Kenyans transacted 528.9 billion shillings (about $4.9 billion) on their mobile phones in October as usage rose considerably amid the COVID-19 pandemic, new Central Bank of Kenya data showed.

Symbiotics, the leading market access platform for impact investing, has arranged its first Sustainability Bond, that is also the first such bond in Armenia, by raising about $10,700,000 in local currency for ARMECONOMBANK OJSC.

AFC started implementing three new projects in fall this year that aim to promote financial sector soundness and access to financial services by individuals.