Africa-Press – Angola. The International Finance Corporation (IFC) helps KixiCrédito to strengthen the provision of digital financial services, under the terms of a partnership formed by the two organizations and announced yesterday .
In light of the partnership, the microcredit society gets IFC help to assess progress in digital transformation and develop a roadmap to deliver financial products that support smaller businesses, job creation, and financial inclusion.
This includes an analysis of the digital financial services market in Angola and its regulatory framework, to identify key players in the digital and fintech ecosystem for potential partnership opportunities.
The establishment of these operations arises from the realization that the majority of Angolans are not covered by the banking system or have access only to some basic banking services, especially the sections of the population that live in poorer urban areas or in rural areas.
Only around 37.7 percent of adults have a bank account, below the average of 45.6 percent in Sub-Saharan Africa, according to the latest Findex World Bank data available on Angola, with KixiCrédito proposing to achieve this. vast population, driving a technological offer to provide new digital products.
“Partnering with IFC on this project is a unique opportunity for us to improve our delivery channels, adding a strong digital dimension and, in the process, becoming more efficient and increasing financial inclusion in Angola,” said KixiCrédito’s CEO. , Joaquim Catinda, quoted for Angola,
IFC representative for Angola, Carlos Katsuya, is also quoted as saying that “increasing financial inclusion can reduce poverty, create jobs, and boost economic growth.”
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