Mastercard Partners AFDB to Provide Digital Access to Millions of People And Businesses in Africa
Payments giant Mastercard and the African Development Bank (AFDB) have partnered to launch the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa to extend digital access to critical services to 100 million individuals and businesses in Africa over the next 10 years.
This was disclosed on the sidelines of the U.S.-Africa Business Forum hosted by the U.S. Chamber of Commerce.
The Alliance will initially focus on supporting the agricultural sector and women. Among the first efforts will be a pilot program launching this year to support three million farmers in Kenya, Tanzania and Nigeria by working with local banks to provide digital identities and access to high-quality seeds and agricultural inputs. The Alliance intends to expand to Uganda, Ethiopia, Ghana and the rest of the continent.
Commenting on the partnership Michael Miebach, CEO of Mastercard said,
“Mastercard’s work leading the new MADE Alliance: Africa aims to provide 100 million people greater digital access to critical services. Across Africa, people are driving new growth and opportunity, and Mastercard wants to support their success. 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.”
Also commenting, African Development Bank Group President Dr. Akinwumi A. Adesina said,
“The African Development Bank Group believes that digitalization via Mastercard Community Pass can play a vital role in increasing the adoption of agricultural technologies to help feed Africa, as well as improve incomes of millions of African smallholder farmers. 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”.
As co-chairs, the African Development Bank Group will invest $300 million to support Alliance programs, providing funding for digital infrastructure and incentivizing ecosystem actors to enhance digital access, and Mastercard will register 15 million users in Africa onto its Community Pass platform within five years, with interoperable digital infrastructure to facilitate involvement from a range of ecosystem participants.
Launched in 2020, Community Pass is a social enterprise at Mastercard that digitizes and connects remote, underserved communities to governments, NGOs and the private sector for access to critical services.
