NAIROBI, Africa, 08 December 2025-/African Media Agency(AMA)/- Today, BFA Global, Caribou, and MSC—organizations whose work spans more than 150 countries— announced the launch of the Alliance for Inclusive AI, an open coalition committed to ensuring that the next wave of artificial intelligence (AI) expands opportunity. By 2030, the Alliance aims to deliver responsible, practical AI solutions to 100 million people and mobilize US$100 million in blended finance.
AI is set to reshape economies and public systems, yet new divisions are emerging: between countries that can afford the necessary technology and those that cannot; between enterprises able to adopt AI tools and those left out; and between people who can access these tools and those who cannot. Without leadership from emerging markets, AI will be built on assumptions that fail to reflect how most of the world actually lives and works.
Ajay Banga, World Bank Group President, cautioned that “Big AI will create a bigger disparity between the developed world and the developing world at the start. On the other hand, ‘small AI’ – local models delivered on local devices – is going to be amazingly productive.”
The Alliance is an open, collaborative, practitioner-led effort to bring inclusive AI into the workflows of financial inclusion, agriculture, climate resilience, and digital public services across the Global South.
Prateek Shrivastava, MD of BFA Global, said: “Only by joining forces to mobilize resources, can we bring meaningful AI infrastructure and solutions to hundreds of millions of people globally.”
Jessica Osborn, CEO of Caribou, said: “AI will reshape how people earn, learn, and access services. It will only deliver real impact when marginalized communities shape it. This Alliance ensures local actors build and use AI in ways that reflect their realities.”
Create foundational AI infrastructure tailored to emerging markets.
Deliver practical, small-AI solutions that cater to the needs of the underserved.
Partner with universities to develop local talent for responsible AI.
Develop operational tools that work in low-resource, low-connectivity environments.
Support governments, DFIs, regulators, and regional bodies to design and implement inclusive AI strategies.
Create shared repositories of datasets, case studies, and toolkits.
Technology providers, DFIs, investors, governments, research institutions, and civil society organizations are invited to join
Graham Wright, Co-Chair and GMD, MSC, warned: “Countries that lack digital infrastructure, skilled workforces, and supportive policy frameworks may find themselves further marginalized.”
LONDON, 16 October 2025-/African Media Agency (AMA)/- Backbase, the global leader in AI-powered Banking technology, in partnership with African Banker magazine, has released the second edition of the Africa Digital Banking Experience Series 2025. This latest report, Small Business Banking: Africa’s Next Growth Segment, highlights how African banks are reimagining their role in supporting small and medium-sized enterprises (SMEs) through digital-first solutions.
Drawing on insights from a survey of 203 senior banking executives across 40 African countries, the report provides an in-depth, data-driven analysis of how banks are positioning SME banking at the heart of their growth strategies, leveraging mobile-first platforms, AI-driven lending, and tailored financial services.
Key findings from the report include:
SME banking emerging as a strategic priority: 83% of banks surveyed describe SME banking as “very” or “extremely” important, with significant or major investments planned
Mobile banking dominates SME offerings: 84% of banks now serve SMEs primarily through mobile platforms
Digital onboarding still lags: Only 42% of banks currently offer full digital account opening, highlighting a key bottleneck in SME financial inclusion
Bridging the digital literacy gap: 70% of banks surveyed provide workshops and training to SMEs, underlining their role in accelerating adoption
AI-driven lending on the rise: Nearly half (47.7%) of African banks now offer digital lending, with AI and predictive analytics enabling more inclusive and accurate credit decisions
The report also features real-world examples of how African institutions and fintech innovators are reshaping SME finance. From South Africa’s African Bank integrating AI-powered analytics into its SME platforms to Nigeria’s Moniepoint processing 800 million transactions monthly for small businesses, the case studies illustrate the scale and speed of digital disruption in the sector.
Heidi Custers, Global Strategy & Transformation Director at Backbase, commented: “SMEs are the backbone of Africa’s economies, and digital innovation is finally making it viable for banks to serve them at scale. What this report shows is that SME banking is no longer a niche, it is the next growth engine for the industry. By combining mobile-first platforms with AI-driven insights, African banks are turning financial inclusion into a profitable, sustainable strategy.”
Backbase is on a mission to put bankers back in the driver’s seat — fully equipped to lead the AI revolution and unlock remarkable growth and efficiency. At the heart of this mission is the world’s first AI-powered Banking Platform, unifying all servicing and sales journeys into an integrated suite. With Backbase, banks modernize their operations across every line of business — from Retail and SME to Commercial, Private Banking, and Wealth Management. Recognized as a category leader by Forrester, Gartner, Celent, and IDC, Backbase powers the digital and AI transformations of over 150 financial institutions worldwide. See some of their stories here. Founded in 2003 in Amsterdam, Backbase is a global private fintech company with regional headquarters in Atlanta and Singapore, and offices across London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City.
African Banker is the continent’s premier publication dedicated to banking and finance. Published quarterly, it provides in-depth coverage and authoritative insights into the major developments shaping Africa’s financial sector, from fintech and policy reform to investment trends and executive leadership. As a trusted partner of leading institutions, African Banker convenes key stakeholders through its awards, summits, and special reports.
Deep expertise in agrifood systems and technology; exemplifies the values of the Foundation
Committed to scaling impact of the Foundation’s programs in Africa and within Indigenous communities in Canada, prioritizing local solutions and partners
Assumes leadership in early 2026
TORONTO, Canada, September 29th, 2025 -/African Media Agency (AMA)/- The Board of Directors of the Mastercard Foundation today announced that Sewit Ahderom has been selected to serve as its next President and CEO. The appointment follows the decision by Reeta Roy to transition from the Foundation after 18 years of transformative leadership and impact. Both leaders will work closely on a seamless transition process. Roy will continue to serve as President and CEO through 2025, and Ahderom will officially take on the role on January 1, 2026.
Earlier this year, the Board of Directors embarked on a global search for its next leader, who exemplifies the values of the Mastercard Foundation, brings a global perspective, possesses substantial experience working in Africa, and demonstrates the capability and commitment to scale the Foundation’s impact across Africa and within Indigenous communities in Canada.
Following a rigorous search process and interviews with many accomplished candidates, the Board concluded that Ahderom was the clear and exceptional choice to lead the Mastercard Foundation into its next era of impact.
A Values-Based Leader with Deep Expertise
“Sewit is a highly talented global executive with a deep understanding of the African continent. Her career spans the development and private sectors, with expertise in agrifood systems and technology – areas closely aligned with the Foundation’s work. Most importantly, Sewit embodies our values. She is a thoughtful listener, fosters strong relationships, and is focused on delivering impactful results,” said Zein Abdalla, Chair of the Mastercard Foundation Board of Directors.
Abdalla added, “Sewit’s career as an investor and an entrepreneur provides invaluable lessons in agility, resilience, and the realities of scaling complex systems. Her first-hand experience is an asset that will enable us to support the journeys of entrepreneurs.”
Understanding the Mission
For the past two years, Ahderom has served as a valued member of the Mastercard Foundation’s Board of Directors and understands the organization’s mission.
“I am truly honoured to be in service of the Foundation’s mission. Building on the extraordinary work of Reeta Roy, whose leadership has embodied partnership and purpose, it is both humbling and inspiring to carry this work forward. The Foundation’s commitment to helping young people access dignified and fulfilling work speaks to me on a deeply personal level. I am excited to listen and learn from young people, our staff, and our partners, and to strengthen the collaborations that will continue to shape meaningful change across Africa and within Indigenous communities in Canada.”
Ahderom is a seasoned technology leader with extensive experience in developed and emerging markets. She has most recently been advising on initiatives that apply emerging technologies to expand learning for displaced communities, and guiding organizations on the effective adoption of AI to address critical humanitarian challenges. Previously, she was a co-founder of Gro Intelligence, a data and analytics platform that delivered insights on agriculture, climate trends, and economic development. Prior to that, she was Vice President of Helios Investment Partners, an Africa-focused private investment fund.
Before joining Helios, she worked with Industrial Promotion Services (IPS), the investment arm of the Aga Khan Development Network, and as Vice President at Citigroup’s Investment Banking Division in New York. She holds an undergraduate degree in Electrical Engineering from the University of Connecticut and an MBA from Columbia University. Her career journey reflects a unique convergence of global finance, African investment, and technology entrepreneurship.
A Seamless Transition
“It’s been an honour to lead the Mastercard Foundation and to be part of an extraordinary journey of transformation in the lives of millions of young people and to know that this impact will endure over generations. That’s why I am thrilled about Sewit Ahderom’s appointment as the next President and CEO of the Mastercard Foundation,” said Reeta Roy. “We have worked closely over the last two years. I respect her expertise, admire her leadership, and look forward to a smooth transition over the coming months.”
Committed to Africa and Indigenous Communities in Canada
The vision of the Mastercard Foundation is a world where everyone has the opportunity to learn and prosper. With more than $53 billion in assets, the Foundation is one of the largest and most impactful philanthropies in the world. It is currently implementing its Young Africa Works strategy, which aims to enable 30 million young people to access dignified and fulfilling work by 2030. In Canada, its EleV Program aims to enable 100,000 Indigenous youth to complete post-secondary education and transition into work by the end of this decade.
To date, these programs have equipped more than 66 million people with skills and tools and enabled nearly 18 million young people to access work opportunities. More than half of them are young women. The Board of Directors and Foundation’s leadership remain committed to staying the course with regards to these strategies, prioritizing local solutions and partners to achieve their ambitious goals.
The Mastercard Foundation is a registered Canadian charity and one of the largest foundations in the world. It works with visionary organizations to advance education and financial inclusion to enable young people in Africa and Indigenous youth in Canada to access dignified and fulfilling work. Established in 2006 through the generosity of Mastercard when it became a public company, the Foundation is an independent organization. Its policies, operations, and programs are determined by its Board of Directors and Leadership team. For more information on the Foundation, please visit www.mastercardfdn.org.
ACCRA, Ghana, 26th September 2025/African Media Agency/-The Africa Fintech Summit is pleased to welcome back MDP, a long-time AFTS partner and a leading card issuing and payments technology provider across the Middle East and Africa, as sponsor for the 14th edition of Africa Fintech Summit (AFTS) 2025, to be held at the Accra international Conference Center (AICC) in Accra, Ghana, from October 8 to 10, 2025.
This sponsorship comes as MDP continues to enhance its capabilities to deliver next-level payment solutions to banks, fintechs, and telcos across the Middle East and Africa (MEA) region. Already, the 30-year-old payments enabler currently serves over 260 financial institutions across 40 countries and has produced over 340 million cards. However, it’s not resting on its oars as it continues to work hard to deliver innovative, scalable, and secure end-to-end payment (issuing, acquiring and digital) services to its clients with greater agility.
The partnership with the Africa Fintech Summit supports the company’s expansion plans, as it continues to deepen its roots in Africa. For instance, last year saw it open a regional office in Ghana, while extending its payment processing services to Kenya and Libya. This ambitious streak and the company’s extensive impact were among the reasons it made it into the top 20 on Forbes’ list of the Top 50 Fintechs in the Middle East and North Africa (MENA) region.
“Our presence in Ghana reflects MDP’s long-term commitment to supporting financial institutions and fintechs across West Africa with proven, reliable payment infrastructure. With decades of experience enabling payments in both mature and emerging markets, we understand what it takes to deliver solutions that work in local contexts. Events like the Africa Fintech Summit allow us to engage directly with banks, fintechs, and regulators who are looking not just for technology, but for a partner they can trust to deliver efficiently and at scale,” said Emmanuel Sarpong-Oduro, Managing Director, MDP Ghana.
“It is with great delight & gratitude that we are welcoming back MDP as a sponsor for our 14th edition of AFTS in Accra this October. MDP has been—and continues to be—an impactful, progressive, and innovative end-to-end payments infrastructure that enables the wide Fintech ecosystem in Africa & beyond, demonstrating the Africanization of Tech in its global growth trajectory,” said Zekarias Amsalu, Co-Founder & MD of AFTS.
Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. #AFTSACCRA25 will bring Keynote Speeches from the Host Country Government, AfCFTA, Fintech thought leaders, a VIP dinner for Speakers and invited guests, excellence in FinTech awards ceremony, workshops, fireside chats, Exhibition Booths, Masterclasses for Startup Founders, Alpha Expo Mini Accelerator & Pitch Competition, and Ecosystem tours around Accra for the international delegates. The event will conclude with happy-hour receptions for delegates and attendees on each date.
Over the past 13 summits, AFTS has supported Over $200M in capital raise efforts for African fintech startups though pitch competitions, groundbreaking launch of partnerships and inward investments to host countries through conference tourism, Public discourse and debate surrounding industry trends, brand building and awareness opportunities across global fintech media, knowledge sharing between banking/fintech operators with regulators, active engagement and inclusion of regulatory authorities in continental fintech conversation, and bring the largest source of truth for announcements of financial technology innovation, and strategic partnerships across the continent and globally.
As in the past years, the event will be hybrid, with live streaming provided for remote attendees via our website as well as via partnering educational facilities across Africa as part of our industry-academia partnership initiative. Limited in-person tickets to the 14th Edition summit are now available on our website, and delegates can secure their tickets with a 25% discount by using code GFA25 at checkout https://africafintechsummit.com/event/afts-accra-2025/.
Supported by an advisory board of thought leaders and fintech pioneers, AFTS is a unique space where innovative ideas are debated, investments mobilised, partnership deals signed, and collaborations formed across sectors and geographies. AFTS is organised in partnership between Washington, D.C. based firms, a strategic advisory group, Dedalus Global, and a Pan-African emerging technologies advisory firm, Ibex Frontier.
About MDP
MDP is the leading payments enabler across Africa & the Middle East. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings from personalized card production to financial transaction processing and digital payment solutions. MDP has been well-positioned in the market for more than 30+ years and is acknowledged for accelerating payment experiences through a tech-driven approach. MDP embraces the global adoption of innovative, scalable, and secure emerging fintech solutions that provide seamless omnichannel customer experiences. MDP is headquartered in Cairo, Egypt, and has an extended footprint in 40+ countries globally.
ACCRA, Ghana, 25th September 2025/African Media Agency/-The Africa Fintech Summit (AFTS) is pleased to welcome Binance, the world’s leading cryptocurrency exchange serving over 280 million users across 180 countries, as a Platinum Sponsor for the 14th edition of the Africa Fintech Summit (AFTS) 2025. The summit will be held at the Accra International Conference Center (AICC) in Accra, Ghana, from 8–10 October 2025.
This sponsorship comes as Binance continues to advance global digital asset compliance and transparency through the Global Travel Rule (GTR) network, a Binance-led alliance promoting international standards. The GTR, developed by the Financial Action Task Force (FATF), requires digital asset firms to exchange sender and receiver data for cross-border transactions, mirroring traditional banking practices.
Across Africa, Binance is driving financial inclusion and regulatory engagement. Recently, Binance’s leadership visited Accra, Ghana, meeting fintech stakeholders and regulators to strengthen partnerships and explore solutions for cross-border trade. In Kenya, Binance supports the Virtual Asset Chamber of Commerce (VAC), helping shape discussions on the proposed VASP Bill. Other milestones include expanding peer-to-peer trading, onboarding millions of users, and enabling cross-border payments using traceable and accountable stablecoins.
“Africa is a continent of immense opportunity, and we are committed to supporting its growth through innovation, education, and regulatory collaboration. From expanding trading networks to engaging with policymakers on frameworks like Kenya’s VASP Bill, and our recent visit to Ghana to meet with key policy makers, Binance is focused on helping African businesses and users transact safely, efficiently, and transparently,” said Larry Cooke of Binance Africa.
“We are delighted to welcome Binance as a Platinum Sponsor for the 14th edition of AFTS. The conversations at this year’s summit—from financial inclusion to the future of digital assets to regulatory compliance—are deeply connected to the work Binance is driving across Africa, including the GTR initiative. Having such a global leader in digital assets at the table enriches the dialogue and underscores Africa’s role in shaping the future of blockchain and digital finance,” said Zekarias Amsalu, Co-Founder & MD of AFTS.
Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. #AFTSACCRA2025 will feature keynote speeches from government officials, AfCFTA representatives, and fintech thought leaders; a VIP dinner for speakers and invited guests; the Excellence in FinTech Awards ceremony; workshops; fireside chats; exhibition booths; masterclasses for startup founders; the Alpha Expo Mini Accelerator & Pitch Competition; and ecosystem tours around Accra for international delegates. Each day will conclude with happy-hour receptions for attendees.
Over the past 13 summits, AFTS has supported over $200 million in capital-raising efforts for African fintech startups through pitch competitions, strategic partnerships, conference tourism, brand-building opportunities, and facilitating knowledge exchange between regulators and fintech operators.
As in previous years, the 2025 summit will be hybrid, with live streaming provided for remote attendees via the AFTS website and partner educational institutions. Limited in-person tickets for the 14th edition are now available, with a 25% discount using code BIN25 at checkout: https://africafintechsummit.com/event/afts-accra-2025/.
The #1 crypto exchange worldwide—for a reason. Join Binance today, and meet us at AFTS 2025!
AFTS is the premier global initiative dedicated to the African fintech ecosystem. Traditionally hosted in Washington, D.C. during the World Bank/IFC annual meeting week and in a different African city each November, AFTS fosters dialogue, investments, partnerships, and collaboration across sectors and geographies. Past summits have been held in Nairobi, Kenya; Lusaka, Zambia; Cape Town, South Africa; Cairo, Egypt; Addis Ababa, Ethiopia; Lagos, Nigeria; and virtually in 2020. The 2025 African leg will take place in Accra, Ghana, from 8–10 October.
Supported by an advisory board of thought leaders and fintech pioneers, AFTS provides a platform for innovative ideas, investment mobilization, strategic partnerships, and knowledge-sharing between banking, fintech, and regulatory sectors. The summit is organized in partnership with Dedalus Global (Washington, D.C.) and Ibex Frontier (Pan-African emerging technologies advisory).
About Binance
Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 280 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means.
ACCRA, Ghana, 15 September 2025/African Media Agency/- Africa Fintech Summit is pleased to welcome Africa’s leading infrastructure solution provider, Africa Finance Corporation as the DFI Sponsor for the 14th edition of Africa Fintech Summit (AFTS) 2025, to be held at the Accra international Conference Center (AICC) in Accra, Ghana, from 8-10 October 2025. This announcement follows the publication of AFC’s recent annual report, which highlights the institution’s transformative impact across Africa, where AFC-financed projects have contributed over $50 billion to regional GDP and enabled the creation of 7 million jobs in 36 countries.
AFC has mobilised US$15 billion to power Africa’s growth, electrifying 4.1 million homes, expanding digital access through supporting initiatives such as M-KOPA that connected 1.7 million first-time internet users, and investing in MTN and Airtel to reach over 100 million people with mobile and broadband services. The Corporation’s innovative exit from the Takoradi Port project in Ghana further demonstrated how private capital can be unlocked without compromising development impact. These achievements highlight AFC’s role in laying the foundations for a more inclusive and digital Africa.
“It is with great delight & gratitude that we are welcoming AFC as our DFI sponsor and speaker for our 14th edition of AFTS in Accra this October. We have said that Africa’s financial inclusion is spurred, or limited, by the necessary infrastructure of connectivity, energy & data processing capability and AFC has been—and continues to be—an impactful, future-orientated, and innovative infrastructure solution provider that powers Africa’s digital future, We are keen to learn from AFC’s executives and create development bank & industry linkage with our startup ecosystem”” said Zekarias Amsalu, Co-Founder & MD of AFTS.
“Africa’s digital and financial transformation depends on strong foundations — from reliable power and connectivity to fintech solutions that expand access to essential services,” said Begna Gebreyes, AFC’s Director and Head, Heavy Industries, Telecoms & Technology. “At AFC, we combine critical infrastructure with strategic fintech investments to enable businesses to grow, create jobs, and drive inclusion. In Accra, we are engaging with innovators from across the continent to advance collaborative solutions that deliver lasting impact.”
Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. #AFTSACCRA2025 will bring Keynote Speeches from the host country government & industry thought leaders, closed door roundtables, bilateral meetings, fire side-chats, a VIP dinner for Speakers and invited guests, excellence in FinTech awards ceremony, workshops, Exhibition Booths, Masterclasses for Startup Founders, Alpha Expo Mini Accelerator & Pitch Competition, Ecosystem tours around Accra for the international delegates and more. The event will conclude with happy-hour receptions for delegates and attendees on each date.
As in the past years, the event will be hybrid, with live streaming provided for remote attendees via our website as well as via partnering educational facilities across Africa as part of our industry-academia partnership initiative. Limited in-person tickets to the 14th Edition summit are now available on our website and delegates can secure their tickets with a 15% discount by using AFC15 at checkout at https://africafintechsummit.com/event/afts-accra-2025/.
AFTS (https://africafintechsummit.com) is the premier global initiative dedicated to the African fintech ecosystem. AFTS is traditionally hosted in Washington, D.C., each April during the World Bank/IFC annual meeting week and in a different African city every October/November. The summit is being held in a hybrid format, in person in the selected Venue and live virtual delegates from around the world.
Supported by an advisory board of thought leaders and fintech pioneers, AFTS is a unique space where innovative ideas are debated, investments mobilized, partnership deals signed, and collaborations formed across sectors and geographies. AFTS is organized in partnership between Washington, D.C. based firms, strategic advisory group,Dedalus Global, and Pan-African emerging technologies advisory firm,Ibex Frontier.
About AFC
Africa Finance Corporation (AFC) was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Eighteen years on, AFC developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. Read further at www.africafc.org
ABIDJAN, Côte d’Ivoire, 12 September, 2025 /African Media Agency (AMA)/ – Djamo Finances, a subsidiary of the Djamo group and a pioneering digital financial services platform in Francophone Africa, has officially obtained its license as a microfinance institution in Côte d’Ivoire, issued by the Ministry of Finance and Budget.
This regulatory recognition provides Djamo’s clients with an additional guarantee. The company’s governance has also been strengthened to better support and serve the financial needs of its growing customer base.
“Obtaining this license is a key milestone in our mission. It gives us the tools to reinforce customer trust and to become their primary financial partner in managing their daily finances, with regulated and guaranteed services designed to meet local economic realities. Thanks to our digital model, these microfinance services will now be within reach, anywhere, at any time, directly from a smartphone,” said Elfried Didehia, CEO of Djamo Finances.
With this license, Djamo will offer its clients new solutions such as access to credit, interest-bearing savings, and current accounts without limits. These new offerings build on an already strong suite of services that includes salary reception, payments and transfers, budget management, secure savings vaults, and investment. Djamo aims to become the primary financial partner for its clients, providing them with the full range of services they need to manage their finances. For users, this evolution means more simplicity, more security, and more opportunities.
In recent years, Côte d’Ivoire has recorded significant progress in financial inclusion: according to the World Bank, the rate has risen from 41% in 2017 to 58% in 2024. While more people now have access to bank accounts, access to credit and savings remains limited. Djamo’s license is part of this dynamic, enabling millions of people to access credit and savings services, paving the way for more comprehensive and sustainable financial inclusion.
Beyond Côte d’Ivoire, this license reflects Djamo’s Pan-African strategy to build a solid digital financial institution capable of supporting millions of people in their financial journey. Also present in Senegal, where it operates with its digital payment and transfer services, Djamo serves today more than one million users with a seamless, innovative, and 100% digital experience. Building on this milestone, the company reaffirms its vision of creating an accessible, user-centered financial institution
Djamo is a Pan-African digital financial services platform designed to make financial services simple, accessible, and useful to millions of people excluded from the traditional banking system, particularly in Francophone Africa, where fewer than 25% of adults hold a bank account.
Founded in 2019 in Côte d’Ivoire by Hassan Bourgi and Regis Bamba, Djamo provides, through a single interface, a range of solutions including Visa cards, instant transfers, bill payments, budgeting tools, secure savings vaults, and investments.
Driven by rapid growth, Djamo continues its regional expansion and its ambition to become the financial partner of choice in Francophone Africa.
LAGOS, Nigeria, 8 September 2025/African Media Agency (AMA)/- The 2025 edition of the West Africa Telecommunications Infrastructure Summit & Exhibition (WATISE) has ended in Lagos with a strong call for governments, regulators, and industry players to deepen collaboration, protect telecom infrastructure, and prioritise inclusive digital access across the region.
The event, held at the Radisson Blu Hotel, Lagos, brought together critical stakeholders from the telecommunications, technology, and financial services sectors under the theme “Digitalising West African Economy: Navigating Challenges and Opportunities for Critical Stakeholders.”
In his address, Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), said the telecom sector in West Africa is witnessing renewed growth, with investments at their highest since before the COVID-19 pandemic.
He noted that telecoms remain the backbone of the digital economy, enabling banking, fintech, telemedicine, education, commerce, and emergency services across the region.
Adebayo, however, warned against vandalism, multiple taxation, and Right of Way restrictions that continue to stifle expansion. He commended the Federal Government’s ongoing tax reforms, set to reduce over 56 levies by January 2026, and urged states across West Africa to create enabling conditions for faster digital rollout.
In his goodwill message, the President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Tony Emoekpere said that , the next ten years will define West Africa’s place in the global digital economy stressing ‘If we build the infrastructure, harmonize policies, and encourage collaboration, we will unlock unprecedented economic growth, create millions of jobs, and give our young population the tools to compete globally.
He noted that investors must recognize that while risks exist, the upside of digital West Africa is unmatched saying that this is a frontier market with the potential of doubling its digital economy contribution to GDP within a decade.
Dr. Nnenna Achife, Head Commercial Business, Business Development, AfriGo Payment Financial Services Limited, speaking on one of the lead presentations, Leveraging Connectivity And Technology To Transform Card Payment System In Africa, revealed how AfriGO is powering card payments through technology and inclusion.
He AfriGo has helped to reduce operating expenses through transparent pricing and billing settlement in local currency as well as support welfare and social Intervention programs via providing access to government social intervention programs.
She added that AfriGo has been supportive of Instant merchant credit and same-day settlement ensure steady cash flow for business operations including promoting cashless economy by encouraging the adoption of affordable electronic payments options, which are (cards).
Achife said that AfriGo is instrumental for the enhanced offline payment to support authorisation where there is limited or unreliable internet access, saying that the Embedded NIBSS Quick Response Code (NQR) has been formidable for the for P2P & P2M payment and collection capabilities.
And in his keynote speech, Mr Adewunmi Adesina, Managing Director of Trade Lenda, the digital bank for SMEs said that there are opportunities for Stakeholders to unlock the full potential of digitalisation, we must act collectively but that Governments must invest in infrastructure and harmonise digital policies across ECOWAS.
He called for private sector players collaboration to build scalable platforms that serve the underserved adding that development Partners must support capacity-building and digital inclusion programs.
Adesina said entrepreneurs must continue to innovate boldly, solving local problems with global ambition saying that at “Trade Lenda, we are proud to be part of this movement providing micro and small businesses with access to credit through digital channels, enabling them to grow sustainably.”
Jameelah Sharrieff-Ayedun, Vice President of FintechNGR and MD/CEO of CreditRegistry, cautioned against the risk of “digital apartheid,” where millions of Africans remain excluded as “digital ghosts” from the formal economy.
She stressed the need for inclusive access to data and credit through innovative use of alternative data sources such as mobile usage and e-commerce, warning that failure to act could turn Africa’s youthful population into a lost economic opportunity.
A fireside chat led by the Chief Executive Officer of WTES Project Limited, Mr Chidi Ajuzie and panel session led by a robotic engineer, Mrs Racheal Anorue highlighted the pressing challenges of rising USSD costs, poor connectivity, and risks faced by mobile agents. Panelists agreed that stronger collaboration, public sensitisation, and technology-driven infrastructure security are key to driving financial inclusion and lowering transaction costs.
At the close of the summit, participants called for:
Protection of telecom infrastructure against vandalism.
Harmonised and enabling policies across ECOWAS states.
Urgent steps to reduce the cost of USSD and digital transactions.
Greater investment in workforce training and digital security.
Regional collaboration to unlock West Africa’s trillion-dollar digital economy potential.
The summit concluded with optimism that with sustained investments, regulatory reforms, and inclusive strategies, West Africa’s telecom and fintech sectors are well-positioned to drive economic transformation across the sub-region.
The new TECA Heat Action Wave (THAW) will back 12 early-stage ventures in Nigeria with capital and venture-building support to protect heat-vulnerable communities.
NAIROBI, Kenya, 27th August 2025-/African Media Agency (AMA)/-TECA Heat Action Wave (THAW), a new initiative to address Nigeria’s escalating extreme heat crisis, was launched today by BFA Global, FSD Africa, ClimateWorks Foundation, and the UK’s Foreign, Commonwealth & Development Office (FCDO) Nigeria. Together, the coalition has committed $1.1 million to support 12 early-stage ventures developing innovative solutions to protect climate-vulnerable communities from the growing impacts of extreme and chronic heat.
Extreme heat events are now at least ten times more likely in West Africa due to human-caused global warming. In Nigeria, millions of jobs and livelihoods are already at risk, with more than 60% of the population regularly exposed to dangerous heatwaves. Urban settlements like Lagos, Kano, and Abuja now experience heat indices above 50°C during peak months.
“Extreme heat represents perhaps the most overlooked consequence of climate change affecting Africa today,” said Juliet Munro, Early-Stage Finance Director at FSD Africa. “It’s not only a public health emergency, but a threat to livelihoods, productivity, and long-term economic resilience. Through this initiative, we’re making a strategic investment in African-led innovation, supporting scalable, context-specific solutions that deliver real impact where it’s needed most.”
THAW will support 12 early-stage ventures developing market-driven early warning tools, innovative financial instruments such as parametric heat insurance, emergency-centric finance tech, and ecosystem enablers and builders — tools and services that help individuals and small businesses operate more safely and efficiently in rising heat, preferably integrating early warning systems or fintech solutions.
Selected entrepreneurs will receive seed capital, venture-building support, and expert-led sprints on user research, product design, business modeling, and fundraising. Each startup will be matched with an embedded venture builder who will join their team to accelerate execution and strategy. Entrepreneurs will also gain access to a suite of technical specialists, female-focused mentorship, and local consultants to support prototyping and market testing.
“Addressing the impacts of extreme heat requires bold, market-led innovation, and that’s exactly what this initiative delivers. By supporting local entrepreneurs to develop viable, scalable solutions, we’re strengthening the role of the private sector in driving climate resilience. FCDO is proud to back this partnership, which puts Nigerian-led innovation at the centre of solving one of the region’s most pressing climate adaptation challenges,” said Temi Akinrinade, Private Sector Development Advisor at FCDO Nigeria.
“Extreme heat is silently eroding lives, productivity, and economic opportunity,” said Tyler Ferdinand, TECA Director at BFA Global. “Through TECA, we’re not only funding ventures, we’re embedding the strategic support, networks, and capital they need to transform survival into resilience.”
“The world is racing against a closing window of time for investing in the ability of communities to withstand and recover from climate shocks. Adaptation is not only a response, but also a strategy for economic security, market stability, and shared prosperity in a warming world,” said Jessica Brown, Senior Director of Adaptation and Resilience at ClimateWorks Foundation.
The program will run through mid-2026, culminating in demo days and investor events. High-performing ventures may qualify for reinvestment and tailored follow-on support through 2027.
Implemented by BFA Global in partnership with FSD Africa, TECA is a venture-building program designed to spark exponential climate action by sourcing and accelerating bold, locally grounded solutions to emerging climate threats. This new heat-focused initiative reinforces TECA’s commitment to inclusive entrepreneurship, gender-intentional design, and transformational funding, positioning Nigeria as a hub for scalable, investable climate innovations. Entrepreneurs are invited to apply to join the Heat Action Wave.
BFA Global is an impact innovation firm that combines research, advisory, venture building, and investment expertise to build a more inclusive, equitable, and resilient future for underserved people and the planet. We partner with leading public, private and philanthropic organizations, global and local, to catalyze innovation ecosystems for impact across emerging markets. Since 2006, we have completed 646 projects completed in over 104 countries, supported 118+ ventures in Africa, Latin America, and Asia, who have collectively raised $815M+ in follow-on funding, and have a survival rate above 80% (global average is ~20%), and built a network of 100+ global and African investors, innovators, and funders focused on climate resilience. Learn more at https://bfaglobal.com/
About FSD Africa
FSD Africa is a specialist development agency funded through UK Development operating in more than 30 countries working to help make finance work for Africa’s future. Based in Nairobi, FSD Africa’s team of financial sector experts work alongside governments, business leaders, regulators, and policymakers to achieve policy and regulatory reform, capacity strengthening, and improving financial infrastructure, to address systemic challenges in Africa’s financial markets. Since 2017, the organisation’s strategy has evolved to prioritise solutions to Africa’s most critical challenges: economic, social, and environmental. The organisation has worked to promote investment into the continent’s green economy, as well as its rates of financial inclusion and gender equality. FSD Africa – previously known as Financial Sector Deepening Africa – was founded in 2012 and is based in Nairobi, Kenya. For more information, please visit: https://www.fsdafrica.org
About ClimateWorks Foundation
ClimateWorks Foundation is a catalyst for accelerating climate progress, driving bold solutions that benefit people and the planet. We connect funders and implementing partners worldwide to co-create and scale transformative solutions across sectors and geographies, achieving faster, greater impact together. Since 2008, ClimateWorks has granted over $2 billion to 850+ partners in more than 50 countries and in collaboration with 80+ funders.
By Dumisani Kadango, Country Manager, TransUnion Malawi
LILONGWE, Malawi 7 August 2025 -/African Media Agency (AMA)/- Financial inclusion has become one of the most critical building blocks for sustainable economic development, not only in Malawi but across emerging markets. When individuals and small businesses have access to affordable, appropriate, and timely financial products and services, they are empowered to save, invest, manage risk, and improve their quality of life.
Yet in Malawi, a portion of the population still faces challenges in accessing comprehensive financial services. According to the 2023 FinScope Consumer Survey, 88% of Malawian adults are considered financially included, meaning they have access to and actively use formal or informal financial products and services. This marks a major shift from 2014, when 51% of adults were financially excluded. Notably, formal financial inclusion, which refers to the use of services provided by regulated financial institutions such as banks, microfinance providers, and mobile money operators, now stands at approximately 74%, up from 34% in 2014. The most rapid growth has been in the use of mobile money and other formal non-bank channels, which surged from 18% to 73% over the same period. While this progress is impressive, it conceals deeper issues. Only 13% of adults hold traditional bank accounts, down from 27% in 2014. This suggests that although mobile channels have expanded access significantly, reliance on full-service banking remains limited, raising concerns about savings, credit, and financial resilience.
Expanding Access Through Alternative Data
One of the biggest barriers to formal financial inclusion has been the lack of traditional credit information. Conventional lending relies on payslips, collateral, and credit histories, criteria many Malawians, especially informal workers and rural entrepreneurs, cannot meet. The rise of alternative data sources such as mobile money transaction logs, airtime purchases, utility payments, and other digital footprints offers a promising solution. These indicators allow lenders to better assess financial reliability and extend credit responsibly to underserved communities.
At TransUnion Malawi, we are supporting this shift by leveraging data-driven innovation to enable lenders to see beyond traditional credit histories. Through responsible use of alternative data, scoring solutions, and deep consumer insights, we’re working with partners across the financial ecosystem to help unlock access for those historically excluded, without compromising financial stability.
This approach is not merely about approving more loans; it is about responsible lending. When implemented correctly, data-driven credit scoring reduces risk for lenders while opening doors to economic opportunity for those previously excluded from the formal financial system.
Digital Platforms as Vehicles for Empowerment
Mobile phones have become the gateway to financial inclusion in Malawi. Digital platforms are breaking down longstanding barriers and reshaping how individuals engage with financial services. For example, a young entrepreneur in Lilongwe can obtain a microloan through a mobile app, unlocking capital previously out of reach. In Dedza, a smallholder farmer can access weather-indexed crop insurance via SMS, providing protection against climate-related risks. Meanwhile, a student in Zomba can use digital savings platforms to manage finances, monitor spending, and build a financial footprint that supports future borrowing.
These digital tools are more than convenient; they are transformative. Reliable, anytime-anywhere access to financial services through digital platforms reduces the physical, bureaucratic, and psychological barriers that have long excluded many from the formal financial system.
Building Trust and Digital Literacy
Despite growth in access, many remain hesitant to engage with digital financial services due to mistrust, lack of understanding, or prior negative experiences. Financial education and consumer protection are therefore vital.
Technology can serve a dual purpose: facilitating service delivery and providing education. Interactive SMS campaigns, in-app learning modules, and community-based digital training help demystify financial products, clarify terms, and guide users toward informed decisions. Transparency, through digital credit reports, real-time transaction alerts, and clear communication, empowers consumers to understand and manage their own financial profiles. When users grasp how their actions affect their financial futures, they are more likely to engage confidently and responsibly.
The Role of Collaboration
Achieving deep financial inclusion requires collective action. Regulators must craft policies that promote innovation while protecting consumers. Financial institutions need to adopt new models that reach underserved populations. FinTech companies and mobile network operators must develop accessible, user-friendly digital solutions tailored to diverse needs. Civil society organisations play a critical role in advocating for transparency, inclusivity, and representing marginalised voices.
This ecosystem approach ensures inclusion is not just broad but meaningful, enabling financial engagement and resilience. It means every Malawian, regardless of income or location, can participate fully in the economy, saving securely, borrowing wisely, investing in livelihoods, and safeguarding against uncertainty.
Seizing the Opportunity
Technology offers Malawi a unique chance to leapfrog traditional barriers to financial access. However, this promise can only be realised through intentional design, trust-building, collaboration, and ongoing financial education. If stakeholders unite around these priorities, the result will be far more than expanded access, it will ignite durable economic mobility and truly inclusive growth for Malawi’s future.
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Botswana, Kenya, Malawi, Namibia, Rwanda, South Africa, eSwatini, and Zambia. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.
Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
