The African Development Bank and AFD co-founded ADFI in 2019 with the Gates Foundation and the Ministry of Finance of the Luxembourg Government. The AFD group has recently provided additional financing, bringing its contribution to more than five million euros

The AFD Group is resolutely committed to accelerating the mobilization of financial and human resources to align financial systems with the Sustainable Development Goals, ensuring that vulnerable populations, especially in the most vulnerable regions affected by climate change, can access financial tools that help them adapt and thrive. ADFI works to develop digital financial solutions across Africa through strategic investments in digital infrastructure, policies and regulations, and product innovation, with an emphasis on reducing gender disparities and building capacity

It is in line with the African Development Bank's 10-year strategy for inclusive growth and its priority to improve the quality of life of people in Africa. ADFI also contributes to advancing the mandate of the Bank's Financial Sector Development Department, which aims to improve access to finance for disadvantaged populations. It works for the large-scale deployment of innovative digital financial solutions, based on three main strategic pillars: infrastructure, policies, regulations and product innovation.

The French Ministry of Economy, Finance and Industrial and Digital Sovereignty, the Women's Enterprise Finance Initiative (We-Fi) and the Indian Ministry of Finance joined the initiative in 2020, 2022 and 2023 respectively.