Malawi takes key step to advance digital payments and drive inclusive growth
Government, private sector, mobile operators and development organizations convene to establish a plan for the future
Today, Malawi took a significant step towards creating a digital payment ecosystem in order to address poverty and drive inclusive growth. An event organized by the Government of Malawi with the United Nations Capital Development Fund’s (UNCDF) Better Than Cash Alliance and Mobile Money for the Poor initiatives brought together digital payments players to accelerate the progress of digital finance in Malawi. The convening also marks the release of an in-depth analysis of the country’s readiness to transition from a nearly cash-only economy to one where digital payments are widely available through an ecosystem approach.
Honorable Goodall Gondwe, MP, Minister of Finance, Economic Planning and Development stated that the transition to digital payments is part of the Government’s commitment to achieving social and economic goals within the Malawi Growth and Development Strategy. “This is part of our mandate to realize balanced and sustainable economic growth and to reduce poverty,” said Gondwe. “We believe creating an economy where digital …read more