IFC unveils DigiLab programme in Africa and Middle East

IFC CAF storyIFC has launched DigiLab Finance training and support programme with an aim to increase financial inclusion and support the digital transformation of financial institutions across Africa and the Middle East 

DigiLab Finance is a capacity building programme that equips selected financial institutions – including banks, microfinance institutions and digital financial services providers – with practical knowledge and tools to help them develop digital strategies, helping them adapt and adopt to technological trends accelerated by the COVID-19 pandemic and better serve their clients.

The first cohort of four financial institutions from Ethiopia, Ghana, Nigeria and Zambia began the six-week online DigiLab programme on 1 June. The programme is being delivered in both English and French.

“Coronavirus has changed the way we live and work and has made digital transformation for financial institutions more important than ever,” said Riadh Naouar, IFC financial institutions group manager for Africa and the Middle East.

“Banks across the region have already made good progress adapting new technologies, although implementation of full digital transformation remains a challenge. The DigiLab programme will help improve on this aspect of implementation and is part of IFC's broader strategy to support a stronger, more sustainable financial sector.”

At the conclusion of the six-week training programme, participating financial institutions present their strategies and roadmaps for implementing a digital strategy to a panel of experts that provides feedback to help them incorporate improvements to their digital finance operations.

 

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