The offering will target smaller businesses and would look to cater to largely unserved consumers, including displaced people and refugees with no official documents or identity papers. Alibaba payments arm Ant Financial is to expand into Africa, in a partnership with the UN's Economic Commission for Africa (ECA) and the International Financial Corporation. Ant Financial will target small businesses and unserved consumers, such as displaced people and refugees, in the collaboration, which is aligned to the 2030 global sustainable development goals and the African Union's Agenda 2060, aimed at ending child poverty and improving lives. The new initiative comes after Ant Financial, China's largest online financial services company, announced plans last year to invest $US1 billion ($A1.27 billion) over five years in Africa.
Alibaba payments arm Ant Financial is to expand into Africa, in a partnership with the UN's Economic Commission for Africa (ECA) and the International Financial Corporation. Ant Financial will target small businesses and unserved consumers, such as displaced people and refugees, in the collaboration, which is aligned to the 2030 global sustainable development goals and the African Union's Agenda 2060, aimed at ending child poverty and improving lives. The new initiative comes after Ant Financial, China's largest online financial services company, announced plans last year to invest $US1 billion ($A1.27 billion) over five years in Africa.