ECA to enhance financial inclusion in Africa

Elizabeth Christopher, Abuja

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The United Nations Economic Commission for Africa (ECA)

The United Nations Economic Commission for Africa (ECA) is collaborating with the International Financial Corporation (IFC) and Ant Financial (Ant) to promote digital financial inclusion in Africa, through investment and technical capacity building.

The ECA Executive Secretary, Vera Songwe, led Ant Financial’s CEO, Eric Jing, and IFC’s VP and Treasurer, Jingdong Hua, to a meeting with President Mulatu Teshome of Ethiopia.

Addressing a group of journalists right after the meeting, Ms. Songwe said “Essentially, we were talking (with the president) about IT and the power of IT for financial, social and political inclusion. Agenda 2030 and Agenda 2063 say we should leave no one behind, and many people have been asking what happens to SMEs with the AfCFTA. So we are thinking about what platforms we can put together to ensure that not only big companies take advantage of the AFCTA but also small companies,” Ms. Songwe said.

Ms. Songwe underscored the need to use technology for social, financial and political inclusion.

“Today, we are bringing Ant Financial, which has the largest platform for financial inclusion and assists people with very small financial capacity to be involved in the society,” she added.

 

Peace PIAK