A new global coalition featuring some of Africa’s most influential telecom and fintech operators is gearing up to tackle one of the world’s most persistent challenges: financial exclusion.
Despite major digital gains, 2.1 billion people worldwide remain unbanked or underbanked, according to the World Bank’s Global Findex 2025, with Africa accounting for a significant portion of that gap.
Launched at the ASEAN Inclusive Growth Summit, Mastercard’s Global Financial Health Coalition brings together telcos, digital wallet providers, banks, and NGOs to drive financial resilience beyond access.
Members include MTN Group Fintech, Axian Group, DANA, GCash, True Money, Daviplata, MOCO, among others, with a mission to accelerate responsible innovation and strengthen financial capability for underserved individuals and small businesses.
For Africa, home to the world’s fastest-growing mobile money market, the coalition represents a major opportunity to expand inclusive digital financial tools for informal traders, rural customers and SMEs struggling with volatility, limited credit and high transaction costs.
MTN Group Fintech CEO Serigne Dioum said the partnership aligns with the telecoms giant’s long-term agenda to deepen financial empowerment across the continent.
“We are excited to be part of this coalition, as it reflects MTN Group Fintech’s commitment to delivering meaningful solutions and services that build resilience and enhance lives. We look forward to collaborating with members across industries to help people move beyond access and unlock opportunity for millions of people across Africa,” Dioum said.
Madagascar-headquartered Axian Group, which operates mobile money and digital banking platforms across East and Southern Africa, underlined that the initiative will help convert access into real financial capability
“Behind every mobile wallet is a story, a mother growing her business, a farmer accessing new markets, a student paying their tuition. This coalition reflects our shared vision and our commitment to building a more resilient and financially healthy digital economy,” said Erwan Gelebart, CEO, Open Innovation & Fintech, Axian Group.
With more than 85% of adults in low- and middle-income countries now owning mobile phones, the coalition argues that Africa’s next frontier is not just digital access, but converting that access into savings, credit, financial literacy and long-term resilience for households and small enterprises.
MasterCard stressed that the coalition will share best practices, strengthen user trust, and build transparent systems capable of supporting SMEs, the backbone of Africa’s economy, as they transition from cash-based operations to the digital marketplace.
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