IFC Promotes Mobile Finance in Ivory Coast

May 2013
Ivory Coast, May, 15 2013 - The International Finance Corporation (IFC), in partnership with the MasterCard Foundation, has assembled financial players to build further momentum for mobile financial services in Ivory Coast.

Considering mobile access to financial services a key element in the fight against poverty, the IFC held a seminar yesterday in Abidjan to discuss the eradication of poverty amongst citizens.

Though Ivory Coast has more than 90 percent mobile penetration, only 14 percent of the population have access to financial services.

Cassandra Colbert, IFC resident representative in Ivory Coast, said: “IFC and the MasterCard Foundation want to help local financial institutions realize the opportunity in Cote d’Ivoire for the development of agent banking and mobile financial services that will accelerate the reach of financial services to those currently without banking services.”

During the event the market potential for financial increases to small scale businesses in rural areas and low income households were emphasised.

Through a four year plan the collaboration will work on the improvement of the Ivorian financial situation through mobility.

“Improving access to finance is important for supporting shared prosperity in Cote d’Ivoire,” Colbert added.

Source : Ventures Africa

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