Cassava Network CEO Steps Down to Float New Fintech Mansa

November 10, 2023
Mouloukou Sanoh Mansa Cassava

By Adedapo Adesanya

The Chief Executive Officer (CEO) of one of Africa’s most progressive Web3 platforms specialising in rewards, entertainment, and arts, Cassava Network, Mr Mouloukou Sanoh, has stepped down to launch Mansa, a new fintech for African businesses.

This was disclosed in a statement made available to Business Post on Thursday.

Mr Mouloukou’s departure comes after a transformative year leading the company which laid the foundation for Cassava’s accelerated growth in Africa.

During his tenure, he cultivated a formidable network of collaborators, uniting prominent Web2 and Web3 brands such as Boomplay, Carry1st, Scooper, VSkit, Ficool, BoundlessPay, Stakefair, Katana Inu, Awujo, and others under the Cassava banner.

Reflecting on his departure, Mr Mouloukou commented, “The journey at Cassava Network has been nothing short of awe-inspiring. Our achievements in paving the way for Web3 in Africa speak volumes about the unyielding support from our team, board, and community leaders.”

Since its inception in 2021, Cassava Network has been an avant-garde force, driving the blockchain infrastructure needed to transition Africa into the Web3 era. By introducing a digital identity system, multi-chain wallet, rewards platform, and NFTs, it has championed the migration from Web2 to Web3, fostering a thriving community along the way.

“It has been an exceptional privilege to contribute towards the Web3 renaissance across Africa. However, the time is ripe for a leadership transition at Cassava Network and for me to invest my efforts in a new venture,” Mr Mouloukou shared.

As for his next chapter, Mr Mouloukou is turning his focus to the credit issue crippling small and medium-scale enterprises (SMEs) in Africa.

His new company, Mansa, is a protocol that addresses current DeFi lending protocols’ major shortcoming: the requirement for borrowers to provide an excess of cryptocurrency collateral. This requirement stifles potential borrowers globally.

Mansa’s innovative approach enables venture-backed businesses to leverage a myriad of assets as collateral, providing crypto access to a significantly larger pool of borrowers. By embracing this forward-thinking model, Mansa is poised to shatter the limitations of traditional financial systems and introduce a new era of decentralised finance.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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