Cape Town – The Interledger Foundation, a global non-profit focused on digital financial inclusion, has outlined its plans to further support African innovation. At its recent Open Payments Summit, the organisation pledged to increase its efforts to educate the next generation of African innovators and provide funding to digital wallet projects.
The summit, held in Cape Town, brought together policymakers, industry experts, and entrepreneurs to discuss the future of digital finance. A key theme was the development of open, interoperable payment technologies to foster a more inclusive and responsible financial ecosystem.
Briana Marbury, CEO of the Interledger Foundation, highlighted the summit’s importance as a platform for collaboration and knowledge sharing. “We gather to talk about our work, showcase our achievements, and build new partnerships,” she said.
Investing in Africa’s Future
The Foundation’s commitment to Africa includes increased funding for education grants and digital wallet projects. Marbury explained that the goal is to empower African entrepreneurs with innovative ideas and support their efforts to drive financial inclusion.
“We want to bring more people who are the next generation of innovators and give more grants to digital wallets,” she said. “We want to give opportunities to entrepreneurs on the continent with innovative ideas.”
Policymakers Join the Conversation
The summit also featured a panel discussion with 10 African MPs who explored the role of policy and legislation in shaping the future of digital finance. They discussed the potential benefits and challenges of open payment systems, emphasizing the need for responsible and ethical frameworks.
Tanzanian MP Neema Lugangira highlighted the importance of digital financial inclusion for women, particularly in terms of addressing financial literacy and fraud prevention. She called for dedicated programs to empower women with the skills and knowledge to navigate the digital financial landscape.
Kenyan MP Esther Passaris raised concerns about the rapid growth of fintech and the potential risks associated with easy credit access. She urged for stronger regulation and data protection measures to safeguard consumers.
The Interledger Foundation’s commitment to Africa, coupled with the engagement of policymakers, signals a promising future for digital financial inclusion on the continent. By fostering innovation and promoting responsible financial practices, the Foundation aims to empower individuals and businesses, driving economic growth and social development.
