IFC on Fostering Financial Inclusion via Fintech Investments in Africa

By Erika Masako Welch,25 May 2023

IFC, or the International Finance Corporation, is a member of the World Bank Group that focuses on promoting private sector development in emerging and developing markets. IFC provides financing, advisory services, and technical assistance to businesses in emerging markets, to help them grow and create jobs, with a particular focus on supporting sustainable and inclusive growth. 

Over the past 25 years, IFC has invested more than US $67 Billion into African businesses and financial institutions, and IFC’s current portfolio exceeds US $13 Billion. IFC has also been playing a critical role in developing the fintech ecosystem in Africa, with the aim of promoting financial inclusion on the continent. IFC began investing

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