The African Development Bank (AFDB) and Visa have officially made a strategic partnership to strengthen Africa's digital ecosystem.
Announced at the AFDB's annual meeting in Abidjan, Ivory Coast, the collaboration aims to make mobile devices, computers and sales devices more affordable for businesses and consumers on the continent.
By reducing costs and increasing access to digital identity solutions, the initiative aims to expand digital inclusion.
“We are excited to partner with African Development Banks to promote digital transformation across Africa,” said Ismahill Diaby, vice president and head of Visa's Western and Central French-speaking Africa and Lusophone Africa.
“This collaboration is consistent with our mission to enable individuals, businesses and economies to thrive by connecting digitally. Through these initiatives, we will work to close digital gaps, strengthen financial inclusion and build a safe digital ecosystem for all Africans.”
This partnership combines the bank's extensive local knowledge with Visa's expertise in cybersecurity and digital payments. Digital financial services rely on security and trust, which can be easily destroyed without a robust cybersecurity framework.
“The digital future in Africa depends on comprehensive access to affordable devices and secure digital identity,” said Solomon Queenner, Vice President of Private Sector and Vice President of Infrastructure and Industrialization at the African Development Bank. “By strengthening the necessary tools and qualifications to our citizens, we unleash opportunities for entrepreneurship, education and financial inclusion for millions of people across the continent.”
The agreement further commits to institutions to expand access to secure and scalable digital identity solutions with the aim of streamlining financial services clients, simplifying government interactions, and laying the foundation for a broader acceptance of digital payments across Africa. This means filling the gap between internet access and connectivity, creating affordable digital mechanisms, and bringing digital solutions closer to Africans.
In parallel, this partnership will help promote the integration of digital identity into public and private sector services, and help to promote and rely on outdated, paper-based identification methods.
Article Topics
AFDB |Africa | Cybersecurity | Digital Identity | Digital Inclusion | Digital Payments | Financial Inclusion | Visa
