By Rédaction Africa Links 24 with The Observer
Published on 2024-01-24 04:16:00
Mastercard recently held its second edition of the annual Community Pass Customer summit in Kampala, urging the public to take more action in bridging the gap in access to financial services. The company, known for its platform that facilitates the growth of the digital economy, emphasized the need for a discussion on deepening access to financial services in rural communities during the summit.
Tara Nathan, EVP and Founder of Mastercard Community Pass, emphasized the transformative potential of the summit, stating that “Community Pass is not just a digital platform, it’s a catalyst for change, effectively bridging the gap between underserved communities and essential services.”
The summit featured sessions exploring various themes such as credit access, last mile delivery infrastructures, entrepreneurship enablement, digital market systems in agriculture, resilience building for smallholder farmers, and innovative financing for sustainable commercial and social outcomes. The event also saw the announcement of major partnerships, including the launch of the Yojana card in India, a collaboration with Shell Foundation and Co-operative Bank of Kenya to provide below-market interest rates to smallholder farmers, and the introduction of Equity Bank of Uganda’s financial inclusion card.
Gerald Begumisa, the managing director of Yo! Uganda, emphasized their commitment to Uganda’s financial empowerment through the continued partnership with Mastercard’s Community Pass, which has already reached 1.2 million smallholder farmers in Uganda.
Described as a platform that enables rural and marginalized communities, many of whom lack digitized data records and connectivity, to digitally access a network of offline services, Mastercard’s Community Pass Solution is set to play a significant role in enhancing digital and financial access to underserved communities.
The summit showcased Mastercard’s dedication to enhancing digital and financial access by addressing the specific needs of its users and paving the way for transformative change in underserved communities.
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