Wed. Apr 17th, 2024

AfricaNenda Launches Digital Platform To Serve Poor Households, Create Prosperity

AfricaNenda, an emerging and independent Africa-led coalition of dedicated payment experts has launched a digital platform that is aimed at supporting poor households and creating prosperity for the underserved population.
The digital financial inclusion advisory platform which is striving to expand financing access was launched on October 7, in Kenya.
Leaders from the regional and international telecommunication, financial technology, development, and the banking ecosystem attended the event in Nairobi.
Dr. Robert Ochola giving his address during the launch in Nairobi
The digital platform is among other things expected to accelerate instant and inclusive
payment systems(IIPS) through partnerships with African governments, regional economic communities, and private sector associations in the continent.
Speaking during the launch ceremony, Dr. Robert Ochola, Chief Executive Officer
(CEO) of AfricaNenda said, “After delivery of mobile solutions as well as bank accounts,
movement of cash remains a challenge as systems are still closed and money cannot
move from one network to another”.
Another issue is the exorbitant cost, he added.
To Ochola, AfricaNenda is coming with the technical lens to drive the impetus of inclusive
payment in the continent.
“Digital payments are key to providing financial inclusion for the poor. By lowering
transaction costs and increasing competition, we will be able to serve poor households and provide an array of services that help create prosperity for an underserved population”, Ochola emphasized.
Digital payment platforms are a critical tool but advocating for the poor is our mission,” the expert maintained.
By Etienne Mainimo Mengnjo

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