Kenya, Tanzania, and Nigeria have been identified as the first three countries that will receive US$ 300 million to enable its small-scale farmers to get high-quality seeds and inputs courtesy of digital identities.
- The program dubbed Mobilizing Access to the Digital Economy (MADE) Alliance: Africa – a partnership between Mastercard and the African Development Bank (AfDB) will benefit 100 million enterprises across the continent in the next 10 years.
- After the pilot phase in the three countries proves successful, the program will be expanded to other countries including Uganda, Ghana, and Ethiopia.
- Mastercard will also register 15 million people onto its Community Pass platform to facilitate the establishment of an ecosystem of beneficiaries who will be earmarked for future digital advantages.
“Mastercard’s work leading the new MADE Alliance: Africa aims to provide 100 million people greater digital access to critical services. This alliance builds on the innovations and investments we are already making with partners in 45 countries to enhance Africa’s digital infrastructure and accelerate inclusive growth,” said Michael Miebach, CEO of Mastercard.
This decision was made during the US-Africa Business Forum hosted by the US Chamber of Commerce. It is not only intended to onboard more Africans into the global financial system, but also ensure integrity through digitization as a way of establishing trust.
“Joining the Mobilizing Access to the Digital Economy Alliance: Africa will amplify and multiply the impact of the Bank’s investments to build sustainable, climate-smart food systems across the continent. We applaud U.S. Vice President Kamala Harris’ commitment to financial and digital inclusion in Africa,” said African Development Bank Group President Dr. Akinwumi A. Adesina.
An engagement with local private sector corporations was regarded as a useful way of bringing the project closer to the average individual. Several companies including financial institutions and agricultural-support organizations joined the fray. Equity Bank, Microsoft, and Syngenta Foundation have pledged to contribute their efforts to the program.
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