Private sector alliance aims to accelerate Africa’s interoperable digital payments

A partnership involving digital payments advocacy group the AfricaNenda Foundation, the Gates Foundation, and investor Equity Group Holdings has been formed to strengthen the digital public infrastructure (DPI) momentum across Africa, particularly in the area of interoperable digital payments to drive financial inclusion.

The partnership, announced on July 7 via a press release, underscores the growing involvement of the private sector, through structured partnership, in fueling Africa’s drive for an inclusive and sustainable DPI that meets the ever-increasing demands of citizens. The move demonstrates the growing awareness that the private sector is no longer just a user of DPI, but its primary architect and advocate.

Per the release, it will combine “AfricaNenda’s technical expertise, policy expertise, and ecosystem leadership with Equity Group’s extensive regional footprint, digital payments capabilities, and implementation experience.”

At the signing of the MoU, the partners also announced the designation of Equity Group’s Managing Director and CEO Dr. James Mwangi as the Continental Digital Public Infrastructure (DPI) Champion, “in recognition of his leadership in advancing inclusive digital financial ecosystems and his commitment to driving Africa’s digital transformation agenda.”

According to the partners, the overall objective of the collaboration is to move DPI from policy discussions to concrete and scalable implementation by combining technical expertise with private-sector execution capability.

The ultimate goal, they say, is to expand financial inclusion for the nearly 400 million unbanked Africans, strengthen digital payment ecosystems, and support economic integration under the African Continental Free Trade Area (AfCFTA). Recently, state parties to the AfCFTA renewed their commitment to fully operationalize the AU’s protocol on digital trade as part of efforts to create a single digital market.

Mwangi said through the partnership, they hope to scale practical DPI to boost financial inclusion across 20 to 30 African markets. A 2024 report noted that one of the biggest challenges facing Africa’s digital payments landscape is the lack of inclusivity.

For Robert Karanja, Founder and Senior Advisor at DPI4Africa and Board Member of the Mojaloop Foundation, private sector leadership is highly needed to effectively accompany African governments’ DPI agenda.

Mwangi will, in his role, front advocacy for interoperable DPI, particularly digital payment systems, to drive integration and the digital economy. He has pledged to sustain collaboration “with governments, regulators, development partners, and the private sector to accelerate this agenda because I firmly believe Digital Public Infrastructure has the power to transform economies, expand opportunity, and improve lives across Africa.”

Often, private sector leadership has been the missing link in DPI adoption. Governments often lack the technical agility or commercial incentive to drive interoperability. AfricaNenda is therefore creating a high-level coalition that can pressure policymakers and align industry standards through Mwangi who is a respected banking leader.

One of the partners, the Gates Foundation, is a household supporter of the global DPI agenda. It has supported several related initiatives, including open-source identity platforms like MOSIP and the Global South DPI development project under the 50-in-5 campaign.

A Senior Advocacy Officer for Africa in charge of Inclusive Financial Systems & Digital Public Infrastructure at the Foundation, Nanjira Sambuli, said it is their view that DPI should not remain on paper, but must translate into palpable on-the-field action and impact.

Article Topics

Africa  |  AfricaNenda  |  digital payments  |  digital public infrastructure  |  financial inclusion  |  Gates Foundation  |  interoperability