Africa has witnessed rapid growth in the ownership of accounts over the past decade. The continent is also leading in terms of mobile money deployment.
The latest World Bank Findex Report states that over 10 percent of the adults in Sub-Saharan Africa have a mobile money account. However, access to formal credit services remains low. Digital credit, however, is rapidly becoming one of the fastest expanding solutions to narrow the credit gap, thanks to the rapid growth of mobile adoption in the region.
This report and framework were developed to ensure that the outstanding success of Digital Financial Services (DFS) on the continent is not undermined by risks introduced through innovative financial services that are delivered digitally.
