Since its inception in 2010, AFR has been guided by the Making Markets Work for the Poor (M4P)7 approach, recognising that efforts to increase financial inclusion should be market led and profitable to make them sustainable for the providers. The design of this second phase was informed by the lessons learned during the first phase and gave greater attention to understanding demand-side stakeholders and the inclusion of M4P and gender mainstreaming. The Phase II was focusing and continued to emphasise on access and use of financial services by people with low incomes.
Following new funding and the results of the mid-term review, AFR adapted its original Strategic Plan8 to focus on the following five Key Results Areas (KRA) as outlined in the AFR Strategy ‘Expansion and Deepening’ (2019):
- KRA 1: Underserved and vulnerable segments:
- KRA 2: Agriculture Financing:
- KRA 3: Digital Financial Solutions
- KRA 4: Risk Mitigation including Inclusive Insurance and the Establishment of a Long-
Term Saving Scheme - KRA 5: Policy and Research
