France promotes digital financial inclusion for Africa at G7 Finance event
At the 2019 G7 Finance event held in Chantilly on July 17-18, France led a discussion on digital financial inclusion in Africa.
Following a report introduced by Melinda Gates entitled 'Women's Digital Financial Inclusion in Africa', France aims to mobilize millions of euros to fund proposals detailed in the Gates' Foundation report. The ultimate goal of the initiative is to give access to an additional 400 million African adults (of whom 60% are women) to digital financial services by 2030.
The report's recommendations notably include:
- The creation of a system enabling inter-operability among digital payment systems;
- The establishment of digital identity for women to facilitate access to credit; and
- The creation of a legal environment that contributes to a harmonization of the existing regulation in the 54 African countries.