New York —The United Nations Development Programme (UNDP) is pleased to announce that the UN-based global partnership Better Than Cash Alliance (The Alliance) is joining its Sustainable Finance Hub (SFH), UNDP’s global effort to accelerate financing for the Sustainable Development Goals (SDGs).

After a successful decade hosted by the United Nations Capital Development Fund (UNCDF), this strategic move positions the Alliance for greater impact at the country level, advocating for responsible digital payments.

Since its founding in 2012, the Alliance has accelerated the transition from cash to digital payments at local, regional, and global levels. By collaborating with the private sector and governments it has helped digitize global supply chains and create inclusive payment ecosystems. This work has enabled millions of workers to access formal financial services, increased supply chain transparency for companies, and provided essential services like health insurance, especially benefiting women.

As an implementing partner of the G20, the Alliance has prioritized inclusive digital payment ecosystems and digital financial infrastructure (DFI) on the agendas of the world’s largest economies. Additionally, through its advocacy and advisory role to the African Continental Free Trade Area Secretariat, DFI, digital public infrastructure, and inclusive cross-border payments have become essential components of the digital trade protocol implementation for the world’s largest free trade area.

The transition to UNDP extends the Alliance’s focus and impact to include digital public infrastructure, enhancing its capacity to drive inclusive digital transformation across its membership of more than 80 governments, companies, and international organizations.

“While the financial inclusion community has successfully banked 1 billion people in the last decade, there remain 750 million women worldwide who are financially excluded. In Africa and the Middle East, the gender gap in financial inclusion is three times the global average. The Better Than Cash Alliance has focused on financial equality for women and marginalized groups, dedicating 80 percent of their efforts in 2023 to advancing gender equality. Responsible digital payments are crucial for achieving the Sustainable Development Goals and driving global financial inclusion by providing affordable, effective, and safe financial services" said Marcos Neto, UNDP Assistant Administrator and Director, Bureau of Policy and Programme Support, UNDP.

The Alliance Secretariat is also pleased to announce the appointment of Lucy Nshuti Mbabazi as the new Managing Director, effective immediately. With 15 years of experience in promoting digital payments and financial inclusion in Africa, Nshuti brings a wealth of knowledge and expertise to the role. Nshuti has been leading the Alliance’s Africa Policy, Advocacy and Partnerships since August 2020, where she successfully integrated responsible digital payments and digital public infrastructure in Africa’s top economic development agenda, the Africa Continental Free Trade Area (AfCFTA).

“I am honored to build on the Alliance’s remarkable achievements over the last 12 years. We have made significant strides in advancing financial inclusion through responsible digital payments. However, over one billion people remain financially excluded today, and many more have access to digital payments but may not be using them for various reasons. This means we have much more to do collectively to change this situation. We must stay the course until every citizen of the world, especially in underserved and unserved communities, can access and use the digital and financial tools and services they need to empower themselves to prosperity. Together with our partners, we will strive to accelerate this transformation and make meaningful digital financial inclusion a reality and a cornerstone of global development” said Lucy Nshuti Mbabazi, Managing Director, Better Than Cash Alliance.

The Alliance, which an independent executive committee governs, includes 33 governments in Africa, Asia, the Middle East and Latin America, as well as global companies like Coca-Cola, Gap Inc., H&M, Target, and Unilever, and more than a dozen UN agencies. Current Alliance resource partners include the Bill and Melinda Gates Foundation, the French Treasury, the German Federal Ministry for Economic Cooperation and Development (BMZ), Mastercard Foundation, the Swedish International Development Cooperation Agency (Sida), the Swiss State Secretariat for Economic Affairs (SECO), and the United States Agency for International Development (USAID).

Worldwide, about 165 million unbanked adults receive private-sector wages in cash. This is inefficient for employers, and risky and disempowering for workers, particularly women workers. Moreover, governments delivering payments through secure, and convenient digital channels are able to improve transparency and resource mobilization. Globally, governments could save up to $1 trillion by leveraging payment data and advanced analytics.

Media Contact

Fareeza Ibrahim, fareeza.ibrahim@undp.org

Ricardo Dunn, ricardo.dunn@undp.org

Jeanne Finestone, jeanne.finestone@undp.org

About UNDP:

As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. UNDP helps countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. Our work is centred around six core development areas, known as our signature solutions: poverty and inequality, governance, resilience, environment, energy and gender equality. Learn more at  undp.org or follow @UNDP  

About UNDP SFH (Sustainable Finance Hub): 

The UNDP Sustainable Finance Hub brings together UNDP’s financial expertise to harness public and private capital for the Sustainable Development Goals (SDGs)- supporting governments, investors, and businesses in reaching climate, social impact, and sustainability targets. Its work drives systemic change towards a sustainable financial architecture that benefits people and the planet. Find out more about its integrated services that ensure all finance is sustainable, at sdgfinance.undp.org or follow @UNDP_SDGFinance 

About the Better Than Cash Alliance:

The Better Than Cash Alliance is a partnership of governments, companies, and international organizations that accelerates the transition from cash to responsible digital payments to help achieve the Sustainable Development Goals.

The Alliance has over 80 members committed to digitizing payments to boost efficiency, transparency, women’s economic participation, and financial inclusion, helping build digital and inclusive economies. Learn more at betterthancash.org or follow @BetterThan_Cash.