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This blog is part of a series documenting our program’s journey to accelerate the development of inclusive payments systems for universal access to financial services in Africa. #IAmAfricaNenda
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Addressing Inclusivity in the Design of Inclusive Instant Payment Systems using Digital Public Goods
AfricaNenda is working closely with development partners and philanthropic programs across Africa to achieve universal financial inclusion by 2030.Through pre-project support, capacity building, policy advocacy, and technical assistance, AfricaNenda has supported programs and tools promoting the growth of inclusive instant payments systems (IIPS) in Africa. In this first edition of "Voices of Expert", we are highlighting our work on digital public goods in addressing inclusivity in the design of IIPS.
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Financial inclusion
The Role of CBDC in Financial Inclusion - Part I
In the quest to close the financial inclusion gap in Africa, Central Bank Digital Currencies (CBDCs) have emerged as a potential game-changer. Their effectiveness in promoting financial inclusion remains uncertain. CBDCs vary in features and functions across nations, depending on policy choices and market environments. Potential benefits exist, especially in retail CBDCs, but realization depends on inclusive design.
SIIPS
SIIPS Report 2023: A Grassroots Perspective on the Role of Agents and Merchants
In the ever-evolving landscape of digital payments, Africa is making significant strides; however, the latest World Bank Findex report reveals that 45 percent of Africans are still not engaging in digital transactions. In this second piece, we explore another dimension of this challenge: the vital roles of agents and merchants in propelling the adoption of inclusive instant payment systems (IIPS) on the continent.
Blogs
Insights from AfricaNenda's Pre-Project Support Journey: Six Key Lessons
The past two years have been an exciting and rewarding period for AfricaNenda as we help to advance the development of instant and inclusive payment systems that can make a difference for the 350 million financially excluded adults in Africa. An effort on this daunting scale, encompassing a diversity of needs across many countries and regions has many aspects and many stakeholders.
SIIPS
It is all about trust!
Upcoming SIIPS 2023 report highlights ways to build trust and boost adoption of digital payment systems. In 2022, AfricaNenda’s State of Inclusive Instant Payment Systems (SIIPS) report on Africa highlighted how inclusive instant payment systems (IIPS) have emerged as a powerful enabler to promote digital payment adoption and usage by making daily transactions more secure and less costly.
Blogs
The Fintech of Things: Travel notes from the 2023 Inclusive Fintech Forum in Kigali
If anything, attending the 2023 Inclusive Fintech Forum (IFF) in Kigali, June 20-22, 2023, raised my already high optimism regarding the role of fintech in Africa’s present and future development. The event shed light on how a blend of political will, mindset shifts and policy and regulatory upgrades in the fintech space can foster the next generation of growth businesses on the continent.
Blogs
The Vital Role of Inclusive Payment Systems in Africa's Financial Inclusion Journey
The COVID-19 pandemic showed the critical importance of digitization when travel and physical interactions were severely restricted. As digital platforms such as Zoom and Microsoft Teams became the new normal for work interactions, the increase in usage of e-commerce platforms enabled commercial activities to continue.
Blogs
The Rise and Stall of CBDCs and Cryptocurrencies in Africa: What's Next?
Coming out of last year’s SIIPS, there seemed to be demonstrative progress across Africa toward central bank digital currencies (CBDCs). eNaira was reaching tens of thousands of transactions, and the e-Cedi was on its way to a full launch. However, 2023 has created new headwinds for CBDCs and their cousins, crypto-currency.
Financial inclusion
Building a Better Digital Future: An Introduction to Digital Public Goods
The term Open-Source Software (OSS) can be traced back to the 1990s when the founders wanted to advocate for free and open software without being misconstrued to be free. Twenty years later OSS is the backbone for most of the new enterprise technologies. So, what is the buzz about?
Financial inclusion