A new global financial inclusion push is taking shape, with Mastercard and MTN emerging as key drivers in a coalition aimed at improving financial well-being for underserved communities and small businesses across Africa.

The initiative, launched at the ASEAN Inclusive Growth Summit, seeks to move beyond basic access to digital finance by promoting financial literacy, savings culture, affordable credit, and long-term economic resilience for low-income users. This comes as 2.1 billion people worldwide remain unbanked or underbanked, with Africa carrying one of the largest gaps despite rapid mobile money adoption.

The Global Financial Health Coalition brings together telecom operators, fintech platforms, banks and NGOs to build digital financial tools that better support informal traders, rural users and SMEs struggling with high transaction costs and income instability.

By Ruvarashe Gora

“We are excited to be part of this coalition, as it reflects MTN Group Fintech’s commitment to delivering meaningful solutions and services that build resilience and enhance lives,” MTN Group Fintech CEO Serigne Dioum said, noting the partnership aligned with the company’s long-term empowerment agenda.

Africa remains the fastest-growing mobile money market, and Mastercard said the coalition will strengthen trust, promote responsible innovation and help small businesses shift from cash-based operations to digital systems that improve record-keeping and access to credit.

Axian Group, another African operator within the coalition, said the initiative would support real financial capability rather than simply digital access. Madagascar-based Erwan Gelebart highlighted that behind each mobile wallet sits a family or entrepreneur trying to build stability.

With more than 85% of adults in low- and middle-income countries now owning mobile phones, the coalition says the next frontier is converting connectivity into measurable financial health rather than transactional convenience.

Analysts say the partnership signals growing convergence between fintech and telecommunications in shaping Africa’s economic future, as digital wallets increasingly replace traditional banking channels for millions of households.

The coalition is expected to share best practices, build transparent systems and promote inclusive tools that support SMEs, which form the backbone of African economies and employ the majority of the continent’s workforce.

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Cassava Technologies, Microsoft Partnership Maps New Opportunities for Africa’s Digital Future Africa’s digital landscape is entering a defining phase, with Cassava Technologies noting that the next era of cloud adoption, artificial intelligence and sustainable infrastructure will be shaped by the strategic partnerships being formed today. Last week, Cassava Technologies hosted longstanding partner Microsoft to strengthen collaboration and accelerate transformative technology solutions across the continent. The session reflected a shift toward deeper cooperation as Africa’s digital environment evolves at unprecedented speed. The discussions highlighted that cloud services, AI-driven systems and digital backbone infrastructure are becoming central to economic participation, public service delivery and inclusive development. Leaders from both organisations aligned on shared priorities that will guide the next chapter of digital growth in Africa. The engagement underscored four core pillars: energy sustainability for reliable technology systems, expanded connectivity to reach underserved populations, infrastructure development to support modern digital services, and digital skilling to prepare citizens for a technology-driven economy. Rising demand for data processing, intelligent applications and resilient connectivity has increased the urgency for coordinated investment and long-term planning. The initial phase of mapping opportunities has moved beyond numerical targets, placing emphasis on meaningful transformation, inclusion and scalable digital access. The focus on sustainable energy reflects the growing need for efficient power consumption in data centres and cloud environments, while connectivity expansion remains critical for bridging gaps between urban and rural users. Infrastructure development was identified as a foundation for cloud and AI services, supported by capacity-building initiatives that equip communities and institutions with relevant digital skills. The meeting signalled a shared commitment to ensure that Africa does not only adopt emerging technologies, but actively benefits from them through participation, innovation and economic empowerment. The approach supports national and regional ambitions for competitiveness, technological resilience and broader digital inclusion. Cassava Technologies affirmed that the partnership strengthens efforts to build a continent where citizens, businesses and public institutions can access the tools required to thrive in a modern digital economy. The alignment also reflects a broader movement toward collaborative models that enable sustainable growth and future-ready technological ecosystems. As Africa advances toward a new era of cloud computing, AI capability and digital infrastructure, the partnership reinforces a path that supports transformation while ensuring that the benefits of the digital economy reach more people across the continent.

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