DigiLab Launches in Africa and Middle East

The International Finance Corporation launched DigiLab in parts of MENA-Africa region. This is to increase financial inclusion and support the digital transformation of financial institutions across Africa and the Middle East. Support programs are established to improve services for consumers of financial services.

DigiLab Finance is a capacity building program that equips selected financial institutions with practical knowledge and tools to help them develop digital strategies, follow technological trends to survive the post-Covid economy.

The first cohort of four financial institutions from Ethiopia, Ghana, Nigeria, and Zambia began the six-week online DigiLab program on June 1. The program is being delivered in both English and French. The IFC launched the program in Latin America and the Caribbean in 2018. In 2020 it lauched in Europe and Central Asia.

DigiLab has supported 23 financial institutions to improve their services and to partner with tech companies since inception.

Participating financial institutions present their strategies and roadmaps for implementing a digital strategy to a panel of experts after the program. The strategies will be addressed and feedback will be given.