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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
Accelerating Financial Inclusion in Africa: The Journey Toward Inclusive Instant Payment Systems
Miriam wakes up early in her small village in rural Uganda, determined to make the most of her day. Her dreams are as vibrant as the fabrics she sews: to buy a second sewing machine, hire an assistant, and turn her small business into a reliable source of income for her family.
However, as one of Africa’s 400 million unbanked individuals, Miriam faces daily financial uncertainty. Without access to formal financial services, she stores her earnings in a tin box under her bed.
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Financial inclusion
Addressing Small and Medium Enterprise digital payment gaps in Africa, Part II
As the May 2024 Visa Payments Forum in Istanbul revealed, SMEs in Africa are at a crossroads. The first blog in this series outlined three key challenges that limit financial inclusion for small and mid-sized businesses (SMEs) in Africa.
Financial inclusion
Recognizing Small and Medium-Sized Enterprise Digital Payments Gaps in Africa, Part I
Did you know that only 35% of payments received by surveyed Small and Medium-sized Enterprises (SMEs) in Sub-Saharan Africa are digital? While many of us mindlessly pull out a card or our mobile phones to make payments, we often take for granted that this convenience depends on businesses accepting them.
Instant payment systems