Identity infrastructure, and allowing businesses to know their customers and avoid fraud while also availing critical services, is pivotal to unlocking financial inclusion and prosperity in Africa. Identity infrastructure, therefore, is pivotal if the potential of these new services to foster financial inclusion and enhance service delivery is to be fulfilled. The good news, then, given the positive impacts noted above, is that the adoption of digital identity solutions is on the up across Africa. The report notes that South Africa leads the way already, announcing amendments to its AML/CFT laws in the first half of the year. → You can read the full State of KYC in Africa Report here.

Source: The North Africa Journal July 27, 2023 15:53 UTC