Building Digital Finance Capacity in Sub-Saharan Africa

Project description

FSD Africa co-funded the incubation of DFI commencing in 2016 and leading to its establishment in 2018. This support, and our subsequent co-funding since 2018 (Phase II) has helped DFI to realise its 5-year plan to build a sustainable institute training 4000+ professionals and supporting their continual growth through an online community, knowledge resources and physical country-level presence. Through this work DFI have facilitated the establishment of 10 registered professional country digital finance associations in Africa as well as the formation of the Alliance for Digital Finance Associations (ADFA), an international platform for networking, partnerships, and collaboration between association members, local and international organisations working within the digital finance and financial inclusion space.

In 2021 we worked with them to design and deliver a new Inclusive Digital Economy Development course (iDED), which introduces digital finance professionals to the different facets of the digital economy and what they mean in terms of inclusive growth. We have extended our scholarship offering for DFI’s iDED, Certificate in Digital Money (CIDM) and (Certified Digital Finance Practitioner Programme (CDFP) in our priority countries.

Target Results

• DFI fully established as an institution operating in SA
• 60% increase in degree of institutional capacity for DFS regulation in SSA
• 1 course certified by reputable academic institution
• 18 DFS training courses developed and offered
• 612 DFS provider students trained by DFI in SSA
• 240 students completing training as a result of FSD Africa scholarships
• 12 Communities of Practice (COPs) established and maintained
• 544 DFS professionals participating in a COP

Progress to date

• DFI fully established in 2018
• Establishment of the Association of Digital Finance Associations in 2021
• 78% increase in degree of institutional capacity for DFS regulation in SSA
• CFPD course certified by Tufts University
• 26 DFS training courses developed and offered
• 3,546 DFS providers students trained by DFI in SSA
• 771 students completing training as a result of FSD Africa scholarships
• 38 Communities of Practice (COPs) established and maintained
• 21,960 DFS professionals participating in a COP

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