AFIIP is offering prizes of up to $60,000 in cash and technical support to ideas, products and services that can improve financial inclusion in the region.

The initiative aims to help clients and communities by providing blended financial and non-financial digital services including advisory services, training and more to assure ease of access to e-money and transfers for its customers.

The main impact objective of this investment is to foster development in Africa through employment and income creation.

The amount has doubled since 2018 due to improved technology, easier processing of loans, better loan recovery methods, increased competition, and a growing class of employees with an appetite for short-term credit.

The Humanitarian Transfers Platform enables humanitarian agencies to execute transfers directly to their interventions beneficiaries without a third party.

The aim of the partnership is to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the growth of a cashless society.

The new company offers reference products to impact investors and fund managers, centered around research, impact and investment solutions.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.

The plan is a result of a partnership between two of the country's foremost institutions that are offering Islamic finance and takaful solutions for the benefits of masses across the country.

Under the project, an expansion of IFC's Distressed Asset Recovery Program's work in India, IFC will invest up to $100 million in the J.C. Flowers India Opportunities Fund if certain conditions are met, with an initial commitment of $40 million.