Visa and the GSMA Foundation have launched the DFA Initiative, targeting enhanced digital financial inclusion for 20 million individuals in low- and middle-income countries, focusing on women, small holder farmers, small enterprises, and refugees.
27 February 2024 – Visa and the GSMA Mobile for Development Foundation have joined forces to launch the Digital Finance for All (DFA) Initiative, aiming to enhance digital financial inclusion for 20 million individuals in low- and middle-income countries across Africa, Asia, and Latin America over a five-year period. Despite significant strides in digital payments adoption, certain demographics, including women, small holder farmers (SHFs), nano, micro, and small enterprise (NMSE) owners, as well as globally displaced individuals, continue to face obstacles accessing formal financial services.
The DFA Initiative will focus on delivering financial education through a mobile financial literacy toolkit, conducting joint research through the Visa Economic Empowerment Institute (VEEI) and the GSMA Foundation, digitizing SHFs and NMSEs, and supporting financial inclusion for refugees and their host communities. Through this collaboration, Visa and the GSMA Foundation aim to address key barriers to financial inclusion and empower underserved populations worldwide to access and benefit from digital financial services.
