The African continent is growing in prominence due to its immense potential across all spheres. While the region still lags compared to other regions in financial inclusion and in closing the gender gap, it has seen a significant increase in financial inclusion in the past decade due to the rapid expansion of digital financial services (primarily through mobile money). The financial sector in sub-Saharan Africa continues to deepen and broaden with digital innovation and regulatory reforms.
Aligned with global development priorities, since its inception in 2011, SCBF has prioritised this region and has co-funded around 46% of the overall projects in the region; in 2022 alone, 84% of the new projects are in sub-Saharan Africa. SCBF will continue to support this region while exploring and expanding support to eligible countries in the other regions.
In a published article, JeuneAfrique, highlights the work done by SCBF in the continent since 2011, that has helped improve the lives of more than half a million people (women comprised more than half of these) in the continent.
Read the article on JeuneAfrique’s site here.