Smart Africa signs MoU with AfricaNenda to deepen digital financial inclusion

Smart Africa Alliance and AfricaNenda have signed a Memorandum of Understanding (MoU) to support capacity building for policy and decision-makers on digital payments and financial inclusion for the creation of a single digital market in Africa.

In a statement issued following a brief signing ceremony, it noted that under the MoU, Smart Africa Alliance and AfricaNenda will carry out strategic intervention around the development and adoption of open standards for interoperable and inclusive payment systems in line with existing mechanisms on the continent.

It further stated that both partners will engage in joint advocacy for policy harmonization and host high-level convening events targeting both public and private stakeholders to accelerate financial inclusion across Africa.

Commenting on this strategic MoU signature, Dr. Robert Ochola, CEO of AfricaNenda said: “If we are to close the gap of the four hundred million financially excluded adults within our continent, we need to enable universal access to formal financial services.”

He added that, “We understand the significance of partnerships-led initiatives in the scale-up of digital payments. Through this partnership with Smart Africa, we seek to strengthen the capacities of decision-makers on efforts that deliver towards universal access to inclusive payment systems.”

The CEO of Smart Africa, Lacina Koné started, “We are very pleased to join forces with AfricaNenda at this particular time where digital payments and financial inclusion are more than critical for the socio-economic development of the continent.”

“Building and enhancing capacities of Africa’s decision and policymakers on digital payments will contribute to reinforce our vision to create a single digital market in Africa by 2030,” he stated.

By: Kanto Okanta