The fund will follow fintech innovations aimed at enhancing access to financial services
The investment will allow MSMEs to access card-based payments and develop digital data records.
The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.
The monetary decision is aimed at reducing borrowing costs and spurring economic growth.
This is to support private sector and small and medium-sized enterprises in West Africa.
The Pan-African lender has persuaded regulators in 25 of the 33 African markets where it holds a banking licence to allow citizens to quickly and easily open bank accounts via their mobile phones
The MoU will support SMEs growth by facilitating access to capital.
This is to ease the on-going cash shortage in Zimbabwe.
This lifts the 2015 moratorium on licensing of new commercial banks.
The facility is aimed at expanding digital financial services and increasing funding for SMEs.