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FF News
06-05-2025
- Business
- FF News
AfricaNenda Launches 2024 Annual Report: Advancing Inclusive Instant Payment Systems for Broader Financial Inclusion in Africa
AfricaNenda Foundation has released its 2024 Annual Report, marking a significant year of transformation and impact in its mission to accelerate access to inclusive instant payment systems (IIPS) across Africa. The report highlights key milestones, insights, and the organization's transition into an independent foundation, further strengthening its ability to drive financial inclusion across the continent. 'In 2024, we took a bold step forward as we became an independent organization, allowing us to operate with greater agility and deepen our impact,' said Robert Ochola, CEO of AfricaNenda Foundation. 'Financial inclusion is not just about facilitating transactions; it is about providing the infrastructure, rules, and governance that enable individuals and businesses—especially women and underserved communities—to participate fully in the digital economy.' Inclusive Instant Payment Systems a Pathway to Africa's Financial Inclusion Despite Africa's rapid growth in digital financial services, nearly 400 million people remain excluded from formal financial systems. Payments play a foundational role in financial inclusion, with over a third of banked adults opening their first accounts to receive government or wage payments (Global Findex 2022). Yet, half of African adults still lack access to IIPS, making it difficult for many to send and receive money affordably and reliably. AfricaNenda's 2024 State of Inclusive Instant Payment Systems (SIIPS) in Africa Report reveals that IIPS—societal-scale digital payment systems enabling low-cost, real-time transactions—are crucial to unlocking access for the financially underserved. Without such infrastructure, millions of women, young adults, and rural communities are forced to rely on cash, limiting their participation in the digital economy. Driving Financial Inclusion Across the Continent AfricaNenda's work in 2024 spanned multiple countries and regions, supporting the development of interoperable payment systems and strengthening digital public infrastructure. Key achievements included: Expanding access to IIPS in Cabo Verde, Mauritania, Rwanda, South Sudan, and the CEMAC region. Providing technical expertise, capacity building, and advocacy to policymakers, financial institutions, and payment providers. Strengthening governance frameworks to ensure that payment systems are scalable, inclusive, and accessible to all. Looking Ahead: 2025 and Beyond With a team of 21 professionals across 11 African countries, AfricaNenda remains committed to its vision of enabling financial access for 260 million financially excluded Africans by 2030. As an independent foundation, it will focus on: Scaling technical assistance and innovation in payment systems Strengthening regional integration and cross-border payment solutions Mobilizing funding for digital financial infrastructure Empowering financial service providers to unlock new economic opportunities The AfricaNenda 2024 Annual Report is now available for download: AfricaNenda Annual Report 2024 – AfricaNenda ( Companies In This Post AfricaNenda Foundation
Independent Singapore
01-05-2025
- Business
- Independent Singapore
Asia to lead in financial accessibility by 2030, surpassing global average
Photo: Freepik/pressfoto(for illustration purposes only) ASIA: Asia is set to be a global leader in financial accessibility by 2030, according to analysts at fintech group UnaFinancial. Analysts from the fintech group expect financial inclusion to improve from 2025 to 2030 in the region, estimating financial accessibility to reach 80.2%, surpassing the global average of 76.8%. The figures are based on the group's financial accessibility index, which uses available historical data from the Global Financial Inclusion (Global Findex) Database. The index looks at how many people own accounts at financial institutions, use digital payments, have debit or credit cards, and borrow or save money. Each of these was given a weight, depending on how much it affects access to finance. In 2023, financial inclusion in Asia was 67.2%. It was expected to go up to 69.5% in 2024. Over the last 15 years, the number has grown by 82%, surpassing the global average of 67.4%. Analysts said that while Asia lagged behind other regions between 2010 and 2015 and matched global levels from 2016 to 2022, it has since taken the lead. 'This trend is driven by active digital transformation and improvements in the regulatory environment, which have allowed for the expansion of financial services even in remote areas,' analysts noted. 'The combination of technological innovation, educational initiatives, the expansion of digital infrastructure and the development of alternative lending creates a solid foundation for further improvement of financial inclusion in Asia,' they added. /TISG Read also: 5 Things to expect in Singapore's banking and financial services in 2025 Featured image by Depositphotos (for illustration purposes only)
Zawya
29-04-2025
- Business
- Zawya
AfricaNenda Launches 2024 Annual Report: Advancing Inclusive Instant Payment Systems for Broader Financial Inclusion in Africa
AfricaNenda Foundation ( has released its 2024 Annual Report, marking a significant year of transformation and impact in its mission to accelerate access to inclusive instant payment systems (IIPS) across Africa. The report highlights key milestones, insights, and the organization's transition into an independent foundation, further strengthening its ability to drive financial inclusion across the continent. 'In 2024, we took a bold step forward as we became an independent organization, allowing us to operate with greater agility and deepen our impact,' said Robert Ochola, CEO of AfricaNenda Foundation. 'Financial inclusion is not just about facilitating transactions; it is about providing the infrastructure, rules, and governance that enable individuals and businesses—especially women and underserved communities—to participate fully in the digital economy.' Inclusive Instant Payment Systems a Pathway to Africa's Financial Inclusion Despite Africa's rapid growth in digital financial services, nearly 400 million people remain excluded from formal financial systems. Payments play a foundational role in financial inclusion, with over a third of banked adults opening their first accounts to receive government or wage payments (Global Findex 2022). Yet, half of African adults still lack access to IIPS, making it difficult for many to send and receive money affordably and reliably. AfricaNenda's 2024 State of Inclusive Instant Payment Systems (SIIPS) in Africa Report reveals that IIPS—societal-scale digital payment systems enabling low-cost, real-time transactions—are crucial to unlocking access for the financially underserved. Without such infrastructure, millions of women, young adults, and rural communities are forced to rely on cash, limiting their participation in the digital economy. Driving Financial Inclusion Across the Continent AfricaNenda's work in 2024 spanned multiple countries and regions, supporting the development of interoperable payment systems and strengthening digital public infrastructure. Key achievements included: Expanding access to IIPS in Cabo Verde, Mauritania, Rwanda, South Sudan, and the CEMAC region. Providing technical expertise, capacity building, and advocacy to policymakers, financial institutions, and payment providers. Strengthening governance frameworks to ensure that payment systems are scalable, inclusive, and accessible to all. Looking Ahead: 2025 and Beyond With a team of 21 professionals across 11 African countries, AfricaNenda remains committed to its vision of enabling financial access for 260 million financially excluded Africans by 2030. As an independent foundation, it will focus on: Scaling technical assistance and innovation in payment systems Strengthening regional integration and cross-border payment solutions Mobilizing funding for digital financial infrastructure Empowering financial service providers to unlock new economic opportunities The AfricaNenda 2024 Annual Report is now available for download: AfricaNenda Annual Report 2024 – AfricaNenda ( Distributed by APO Group on behalf of AfricaNenda. For media inquiries, interviews, or partnership opportunities, please contact: Nadia Dafir Director of Communications ndafir@ About AfricaNenda Foundation: AfricaNenda Foundation is an Africa-based, African-led nonprofit working with central banks and payment ecosystem stakeholders to accelerate the design, development, launch, and improvement of inclusive instant payment systems. Our team of 21 experts in 11 countries provides technical expertise, builds capacity, shares knowledge, and advocates for inclusivity across the IIPS project lifecycle. Through this work, we aim to help deliver the power of seamless and affordable digital payments to 260 million financially excluded Africans by 2030.
