Mastercard and the African Development Bank have teamed up to launch a $300 million initiative to broaden digital access for 100 million individuals and businesses across Africa over the next 10 years.
The “Mobilising Access to the Digital Economy Alliance: Africa” will prioritize supporting the agricultural sector and promoting women’s economic participation, with an initial pilot program set to start this year to assist 3 million farmers in Kenya, Tanzania, and Nigeria.
Mastercard’s Community Pass platform, which digitally connects underserved communities to essential services, aims to register 15 million users in Africa within 5 years. As co-chairs, the African Development Bank Group will invest $300 million to support the alliance’s programs, providing funding for digital infrastructure and encouraging ecosystem players to enhance digital access.
Mastercard’s CEO, Michael Miebach, states that this new initiative aims to grant 100 million people greater digital access to critical services.
The collaboration between public and private entities is crucial, with the partnership aligning the complementary capabilities of participants across key regions to foster sustainable digital accessibility. Mastercard’s partners aim to jointly provide connectivity, skill development, job opportunities, and digital access to financial and other essential services.
Dr Akinwumi Adesina, President of the African Development Bank Group, affirms that Mastercard’s Community Pass platform can significantly contribute to increasing the uptake of agricultural technologies to nourish Africa and enhance the earnings of millions of small-scale farmers across the continent.
