🔝Mastercard in Africa🐘

🔝Mastercard in Africa🐘
Latin America, practically dominated, now shifts it's focus to Africa. The collaborative initiative with the African Development Bank Group is named the Alliance for Mobilizing Access to the Digital Economy (MADE). Together, the partners will ensure connectivity, training, employment, and digital access to financial and other essential services.

➡️ Scope: they started with Kenya🇰🇪, Tanzania🇹🇿, and Nigeria 🇳🇬 (banking service aimed at farmers), then plan to expand to Ethiopia🇪🇹, Uganda🇺🇬, and Ghana🇬🇭… and will extend to all regions. Over the next decade, the partners aim to broaden digital access to critical services for 100 million individuals and enterprises.

➡️ The African Development Bank Group will invest a significant sum of USD 300 million in the project.

➡️ Mastercard, on its part, will provide the Community Pass platform, where it expects to register 15 million users within 5 years. 👉Community Pass, launched in 2020, is a social enterprise that digitizes and connects remote and underserved communities with governments, NGOs, and the private sector to access critical services.

➡️ From a macroeconomic (and even political) perspective, this ambitious program can be seen as an aspect of #USA's strategic expansion on the African continent. Mastercard's report explicitly states: “The MADE Alliance will support the US Africa Digital Transformation Initiative (DTA) and the African Union Digital Transformation Strategy (DTS).”

#news #Africa

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