Ant Financial to boost financial inclusion in Africa

The offering will target smaller businesses and would look to cater to largely unserved consumers, including displaced people and refugees with no official documents or identity papers.

The cooperation is pegged to both the 2030 global sustainable development goals and the African Union’s Agenda 2060, which seeks to end poverty and improve lives through economic, social, and technological progress.

By looking to Africa, the company hopes to replicate its success in countries including China, India, and the Philippines. In June 2018, it expanded into the global remittance market by launching a cross-border remittance service powered by blockchain technology.