Estonian Non-Profit to transform peace financing in Africa

Estonian based Inclusive Financial Technologies Foundation (InFTF) signed a a groundbreaking Memorandum of Understanding with the African Union Peace Fund to transform peace financing in Africa.

“Since Estonia does not have a very large footprint in Africa, this could be the point where Estonian enterprises get the attention they require in Africa,” said Bharath Chari, Management Board Member of InFTF, adding that this is the first private non-profit in Estonia to have such a partnership. “During InFTF discussions with both African Union and other entities in Africa, the digital expertise of Estonia has always been an important factor.”

The partnership aims to harness cutting-edge financial technologies to support peace initiatives across the continent. The collaboration also aims to create systems for all Africans and friends of Africa to contribute directly to peace initiatives.

„This collaboration will unlock new pathways for contributions, making it easier and more accessible for individuals and organizations to support peace initiatives in Africa,“ said Dagmawit Moges, the Peace Fund Secretariat Director. „This represents a significant step forward in expanding the reach and impact of the Peace Fund, paving the way for inclusive, transparent, and sustainable peace financing.“

“Peace in Africa is something that has a direct bearing not only on the lives of those in Africa, but across the world,” said Bharath Chari. “Including people in the peace process is an important step. By allowing both African diaspora and anyone who's is interested in promoting peace to donate any sum of money, be it small or large, InFTF and AUPF are helping create this collective attention.”

The cooperation between African Union Peace Fund and Estonian based non-profit organisation seeks to develop a seamless donation platform using the advanced Xahau network, enabling contributions in multiple currencies. Additionally, it will engage the African Diaspora to rally support for African Union Peace Fund's peace-related initiatives and coordinate Corporate Social Responsibility initiatives from multinational companies to support African peace efforts.

In October InFTF also announced a strategic partnership with Cooperative Bank of Oromia in Ethiopia to facilitate fast, low-cost remittances for the Ethiopian diaspora. The partnership leverages the Xahau blockchain network, a decentralised, scalable platform that features smart contract functionality. This advanced technology allows for secure, transparent, and compliant cross-border transactions, empowering both senders and recipients while significantly reducing costs.

InFTF MTÜ is a non-profit organization based in Estonia, which is committed to promoting financial and social inclusion in the world. Through the use of open blockchain technologies, InFTF seeks to bridge the gap between underserved communities and financial services by empowering individuals and organizations in the digital economy. The foundation focuses on remittances, transparent donation platforms, scholarships, research on innovative technologies and energy efficient solutions. InFTF projects help promote sustainable development and support communities around the world. InFTF cooperates with researchers from Taltech and the University of Tartu.

The African Union Peace Fund was established in 1993 to finance peace and security activities in Africa.