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ECA Eyes Chinese Ant Financial to Promote Digital Financial Inclusion in Africa
 Xinhua ·2018-08-07

The United Nations Economic Commission for Africa (ECA) on August 6 revealed partnership with Chinese digital financial giant Ant Financial to promote financial inclusion in the continent.

ECA Executive Secretary, Vera Songwe, who stressed the importance of digital financial inclusion platforms for Africa's future development, has underscored the positive protects working in partnership with Ant Financial - an affiliate of the Alibaba Group - mainly in the digital financial arena, the ECA revealed.

Noting that Ant Financial runs one of the world's largest online payment platforms, valued at 150 billion U.S dollars, Songwe also underscored that Africa has an "opportunity to leapfrog technology for social, financial and political inclusion" by working with the Chinese giant.

Ant Financial CEO Jing Xiandong said that the company serves over 650 million people on a daily basis and that the company's vast reach has involved over the years.

"We have expanded well beyond China and are recording tremendous success in our effort to bridge the gap between the rich and the poor in many other countries such as India, the Philippines and more," Jing said.

Jing further said that he would like to replicate his company's success in Africa so that financial inclusion can be enhanced in the continent.

According to the ECA, the delegations from Ant Financial also met with senior officials of the ECA, in which they "expressed their willingness to collaborate with the Commission to foster inclusive growth on the continent."

(Xinhua News Agency August 7, 2018)

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