Follow Us:

Please or Register to create posts and topics.

Why Financial inclusion fintech payment space for African's?

While low-income households in Africa and MSMEs are particularly vulnerable to shocks, these vulnerabilities are magnified by both the health and economic impacts of the COVID-19 pandemic.

Inclusive financial services, like this B2B, B2C, P2P, and B2G all these can help their vulnerable economy withstand income volatility, build and replenish emergency savings, access quality health insurance, and plan for and afford basic necessities. And innovative fintech can dramatically enhance financial inclusion and financial resilience by reducing client-level transaction costs, increasing transparency, and improving the efficiency and affordability of expanding service access to more people.

Financial resilience is "the ability of people, households, communities, countries, and systems to mitigate, adapt to and recover from shocks and stresses in a manner that reduces chronic vulnerability and facilitates inclusive growth for the economy." In short, resilience is the ability to prepare for shocks - including natural and manmade disasters - to respond effectively to crises and to build back better than before. (USAID)

Financial Inclusive Fintech makes these startups are more visible to investors and partners who can help them scale to reach more of the billion of Africa's populations who are financially unbanked, underserved people globally. This initiative also has supports the broader inclusive fintech payments ecosystem with the World Business Angels Investment Forum.

The Inclusive Fintech initiative is a collaboration between global corporations, foundations, impact investors, and nonprofits committed to creating a financial sector that enables unbanks, low- and moderate-income populations to build resilience, expand their economic opportunities with the remittance, and plan for the future for total financial inclusion transaction service.