INNOVATION FUND
One of EFInA’s key objectives is to become an
Innovation centre targeting catalytic change across Nigeria’s
financial sector.
The Innovation Fund is a special facility within
EFInA that seeks to promote innovation in the development and
deployment of financial services and thus expand financial access to
the underserved population in Nigeria. EFInA will share the risk of
developing and implementing new innovations by providing a grant
subsidy (up to 50%) for new commercial projects.
Potential organisations that EFInA would be looking to fund include
commercial banks looking to downscale, microfinance banks,
technology providers, telecommunications operators and payment
services providers.
There are two types of grants that EFInA will fund
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