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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Agriculture»AfDB and Mastercard Join Forces to Connect 100 Million to the Digital Economy

    AfDB and Mastercard Join Forces to Connect 100 Million to the Digital Economy

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    By Smart Megwai on October 17, 2024 Agriculture, Digital, Financial Inclusion, Technology in Africa

    The African Development Bank Group (AfDB) and Mastercard have teamed up to launch the Mobilising Access to the Digital Economy (MADE) Alliance Africa, an initiative aimed at connecting 100 million Africans and businesses to essential digital services over the next decade. This collaborative effort seeks to bridge the digital divide and unlock the continent’s vast potential for economic growth and social development.

    The MADE Alliance will initially focus on empowering farmers and women, with a pilot program set to bring 3 million farmers in Kenya, Tanzania, and Nigeria into the digital economy. This first phase, backed by a $300 million commitment from the AfDB over five years, will leverage Mastercard’s Community Pass platform to provide farmers with digital identities and access to vital services.

    Mastercard Community Pass is a digital platform that provides underserved communities with a secure and verifiable digital identity, enabling them to access a range of essential services. In the context of the MADE Alliance, farmers will use Community Pass to access financial services, agricultural information, markets, and inputs, empowering them to improve their livelihoods and contribute to food security.

    This initiative builds on previous collaborations between the AfDB and Mastercard. In 2021, the two organisations partnered to launch the “Digital Agricultural Finance Platform” in Kenya, aimed at providing smallholder farmers with access to credit and other financial services. The MADE Alliance expands on this foundation, aiming to reach a broader population and provide a wider range of digital services.

    The MADE Alliance addresses a critical need in Africa, where a significant portion of the population remains excluded from the digital economy. By providing access to essential services, the initiative aims to empower individuals, businesses, and communities, enabling them to participate fully in the digital age.

    The benefits of digital inclusion are far-reaching. Access to digital technologies can improve agricultural productivity, enhance financial inclusion, facilitate access to education and healthcare, and promote entrepreneurship. By empowering individuals and businesses, the MADE Alliance can contribute to sustainable economic growth and social development across Africa.

    While the initial focus is on agriculture and women, the MADE Alliance has ambitious goals for expansion. Over the next decade, the initiative aims to reach 100 million people across various sectors, leveraging digital technologies to drive inclusive growth and development.

    The success of the MADE Alliance will depend on collaboration among various stakeholders, including governments, the private sector, and civil society. By working together, these actors can create an enabling environment for digital inclusion, ensuring that the benefits of technology reach all segments of society.

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    Smart Megwai
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    Smart is a Tech Writer. His passion for educating people is what drives him to provide practical tech solutions which helps solve everyday tech-related issues.

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