Cameroon's Adwa and Gabon's Fedha join forces to launch the first 100% digital bank in Central Africa

Posted the 09/11/2020 10:18


On the sidelines of the 3rd edition of the Douala Fintech Tour, which will take place from 05 to 06 November 2020 in the premises of the Cercle Municipal de Douala, in the Bonanjo district, in the Cameroonian economic capital, the local start-up Adwa, promoter of the AdwaPay payment solution, announces the signing of a partnership agreement with its Gabonese counterpart Fedha.

According to its promoters, this agreement has three main objectives over the next five years. Namely:

  1. to digitalize and monetize 10,000 companies in the Central African sub-region;
  2. to bid in tandem for tenders for fintechs solutions from large companies and organizations in Africa;
  3. and to develop a 100% digital bank for the Central African sub-region, we learn officially.

"The Central African sub-region, with more than 70% of the population excluded from the banking system, will be able, through this new partnership, to facilitate access to financial services to these dynamic men and women who are eager to contribute to the development of our continent," the two partners said in an official statement.

As a reminder, both Adwa and Fedha are leaders in their domestic markets, and have made financial inclusion their main battle horse. This time, they will combine their strength and experience gained in Gabon and Cameroon, we learn, to boost access to financial services on the African continent. 

Source: Invesraucameroon