AfricaNenda has established itself as a new Africa-led organization aimed at accelerating Instant and Inclusive Payment Systems (IIPS). The company aims to do this through partnerships with African governments, regional economic communities, and private sector associations.
AfricaNenda will address the key issues around critical pre-project support and institutional capacity building that are currently restricting the scale-up of fundable, instant and inclusive payment system projects. The company has already started the process of accelerating regional and national IIPS priorities in Africa, with the signing of MOUs with the Rwanda Information Society Authority, the COMESA Business Council and other stakeholders.
In addition to reducing the cost and risk, enabling universal access to payment systems can reduce poverty on the continent. AfricaNenda believes that instant and inclusive payment systems can play a pivotal role in achieving universal financial inclusion in Africa by 2030.
AfricaNenda’s leadership brings together experts in regional digital payments networks and regional digital infrastructure development. The organization is led by veteran financial services leaders, including Safaricom and Afreximbank veteran, Dr. Robert Ochola, United Nations Capital Development Fund’s Global digital infrastructure lead, Sabine Mensah, and the former head of GSMA sub-Saharan Africa, Akinwale Goodluck.
The launch of AfricaNenda follows a series of high-level forums conducted with prominent experts and leaders to discuss critical challenges, trends and opportunities for digital financial inclusion in Africa.
Speaking on the inspiration behind AfricaNenda, Robert Ochola, CEO AfricaNenda said, “Digital payments are key to providing financial inclusion for the poor. By lowering transaction costs, increasing competition, we will be able to serve poor households and provide an array of services that help create prosperity to an underserved population. Digital payment platforms are a critical tool but advocating for the poor is our mission.”
AfricaNenda is supported with funding from the Bill and Melinda Gates Foundation and program support from the Rockefeller Philanthropy Advisors.