According to a statement from the AfDB on Monday, the grants for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility .
Moreover, M-KOPA would use the $300,000 grant funding for research involving 250 women and 250 men in Kenya’s Kisumu, Eldoret and Machakos counties. Sheila Okiro, the bank’s Coordinator for ADFI said: “This grant funding will be used to leverage technology to develop innovative and responsive loan and insurance products that can spur productivity and inclusion, especially for our women smallholder farmers and traders.”
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