The region’s scout and incubator for financially inclusive innovation
The Arab Financial Inclusion Innovation Prize (AFIIP) was established in 2018 to put financial inclusion at the centre of innovation in the Arab world.
AFIIP 2021 Winners
The region’s scout and incubator for financially inclusive innovation
The Arab Financial Inclusion Innovation Prize (AFIIP) was established in 2018 to put financial inclusion at the center of innovation in the Arab world.
Our track record
Previous winners
Since its founding, AFIIP has continued to identify innovations from across the region and financial ecosystem. Over 200 innovators have applied, ranging from start-ups to incumbent financial service providers, from 17 of the region’s 22 countries. Find out more about our previous finalists and winners
Webinars | Reports
AFIIP is proud to be part of a collaborative knowledge network to help push forwards financial inclusion in the Arab World. We make an active effort to be thought leaders in the region, supporting our global partners through webinars and reports that encourage inclusive pathways to development and empowerment.
Our Theory of Change
When correctly supported, innovation and technology can substantially improve the delivery of financial services for the low income and small businesses, making them more accessible and affordable.
Find out more about what drives the AFIIP team and outputs.
The Sponsors.
Theory of Change
Putting financial inclusion at the centre of innovation.
The Arab world has some of the lowest levels of financial inclusion. 59% of individuals in the MENA region do not have access to an account], 90m individuals borrow informally and 99% of individuals do not have access to insurance [CGAP. Furthermore, 63% of MSMEs do not have access to finance [CGAP 2020 based on Global Findex, IFC and Axco Data], and the region exhibits the largest gender gap with regards to access to finance in the world at 17%.
But high levels of talent, demand and capital investment in the region mean that the Arab world is a key geography for the emergence and growth of innovative solutions.
AFIIP, an initiative of the NGO Rakiza, was founded in 2018 to target this potential towards solving challenges related to financial inclusion. We identify and support innovations that can provide more accessible, cost-efficient financial services to enable the development of new financial business models and technologies that are smart, efficient and inclusive.
The Innovators.
The Technical and Outreach Partners.
