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Growing Digital Financial Inclusion in Senegal

In 2014, Mastercard Foundation and UN Capital Development Fund (UNCDF) formed a partnership to try to replicate and scale a model that had found success in the Pacific region – taking a market development approach to increasing digital financial inclusion. Through the partnership, UNCDF was able to expand the Mobile Money for the Poor programme (MM4P) and test frameworks created in the Pacific in markets that were not yet “on the map”.

The Mastercard Foundation and UNCDF chose to work in three countries in West and Southern Africa – Benin, Senegal, and Zambia – all with very low digital financial services (DFS) usage rates

This report discusses the work, market approach and the lessons learned in Senegal.

The UN Capital Development Fund makes public and private finance work for the poor in the world’s 47 least developed countries (LDCs). With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.