African Development Bank provides US$320 000 in grant funding to mainstream gender in ECOWAS’ digital financial operations
The West African Monetary Agency (WAMA) received a grant of US$320, 535 from the African Development Bank to mainstream gender in the Economic Community of West African States’ (ECOWAS) core digital financial services (DFS) regulatory frameworks. The grant aims at supporting gender gap analysis of several WAMA strategies including financial inclusion, gender disaggregation data analytics, digital payment services and infrastructure, and digital identity. The fund, which will be handled through the Africa Digital Financial Inclusion Facility (AFDI), will be implemented in three years in 15 ECOWAS countries and outreach 350 million people. ‘With a secretariat comprising all the 15 ECOWAS central banks, WAMA plays a pivotal role in the consolidation and implementation of strategic financial inclusion objectives. ADFI and the WAMA project team will work closely with other ecosystem players in the region to ensure harmonisation of efforts for maximum impact,’ noted ADFI Coordinator Sheila Okiro.