Connect with us

Feature/OPED

Interoperability Between Mobile Money and Card is Enabling Africa’s Access to Global Financial System

Published

on

Christian Bwakira

By Christian Bwakira

Mobile money has exploded across African economies as an enabler of financial inclusion by bringing in large swaths of the population that remained unbanked into the fold to participate in economies across the continent.

According to GSMA’s 2024 State of the Industry Report on Mobile Money, registered mobile money accounts grew by 12% to 1.75 billion in 2023 while transaction values for international remittances via mobile money grew to almost $29 billion and merchant payments by 14% to around $74 billion.

Today, consumers can do anything with a mobile wallet that they can accomplish with a traditional bank account or card. In Kenya, where the mobile money market reached $133.2 billion in 2023 and M-Pesa holds a 96.5% market share, consumers can buy groceries from a grocer, purchase goods from the market, pay electricity bills or top up airtime with a simple code from M-Pesa. But, they’re not guaranteed to be able to do so outside of the country, region, or with international properties.

While many of the world’s largest digital merchants have started accepting mobile money payments, most international merchants still do not. This has meant that utilising mobile money in the global commercial space is cumbersome, resulting in a gap between financial inclusion locally within the continent and access to the global financial system. Essentially, this means that individuals using mobile money can’t do things like make payments on an international airline’s website or pay for a Netflix account, small businesses can’t purchase ads on social media platforms like Facebook or search engines like Google, and content creators can’t get paid by the social media platforms they make content on.

Fortunately, card scheme payment rails have the ability to bridge that gap as cards continue to be the preferred payment method for consumers and merchants alike. That’s why it’s imperative to move beyond the idea that African economies will not adopt cards because of mobile money and instead look towards increased interoperability between mobile money wallets and card networks.

Connecting Africa to itself and the world

Much like the continent itself, the payments environment in Africa is highly dynamic and diverse. Across individuals and countries, payment types can vary significantly, resulting in a splintered and disconnected payment ecosystem. For example, when purchasing from Takealot in South Africa, consumers can pay by credit card, an electronic fund transfer (EFT) from their bank or use domestic-flavoured payment solutions such as PayFast, Ozow or Discovery Miles. However, international merchants or companies would have to integrate with each of these different payment service providers individually in every single economy on the continent to cater to a wide range of consumers, which is simply not feasible. 

According to the World Economic Forum, the varied technical standards, laws and regulations that span countries across Africa contribute to the fact that historically many digital payment methods were closed loops and not interoperable with one another. Additionally, established mobile money interoperability in countries was usually limited to cases such as person-to-person transfers while merchant payments weren’t considered.

But, advancements in payment interoperability technologies and strategic partnerships are facilitating the innovation needed to achieve the desired convenience, speed and accessibility within the payments space while also enabling merchants to accept payments from and people to make payments to anyone. 

Although before, people would need to transfer funds from their mobile wallet to a bank account and then use the bank-issued card to make a payment, this interoperability between the two legacy platforms—mobile wallet and card—means that both individuals and businesses are able to make direct payments by simply linking the two together.

Onafriq’s own partnership and subsequent acquisition of GTP, the number one processor for prepaid cards in Africa, in 2022 underscores the importance of card and mobile wallet interoperability by enabling participation in the global digital commerce environment, connecting traditional card schemes ecosystems such as Visa and Mastercard to the mobile money world.

Now, instead of a pre-funded card where money can only be loaded on and not withdrawn, users can easily move money between their card and wallet. And, with digital cards, card networks can now be embedded directly into the wallet app instead of carrying around a physical card. Even global players like Visa and Mastercard realise that the only way to be successful in Africa is to play hand in hand with mobile money clients and cater to their needs – as evidenced by Mastercard’s $200 million minority stake in MTN’s fintech division.

Making borders matter less

As the world, and Africa, become more connected and digitalised, consumers are branching out in terms of where they’re purchasing goods from and merchants are catering to a more global customer base. 

As such, African businesses and consumers alike should be able to make payments to any destination easily and through whichever payment channel they prefer. Cross-border payments need to become faster, cheaper, more transparent and accessible, while also ensuring their safety and security. 

Payments interoperability between mobile money and cards will enable an ecosystem whereby you don’t need to link different payment methods, systems, and currencies to one another to ensure that no matter where you are, where you’re sending money to, or where you’re purchasing from, nothing is standing in your way.

Ultimately, ensuring that these different payment products can understand and speak to each other enables a more inclusive and accessible financial services landscape, making it as easy as possible for people to perform transactions affordably and reliably.

Christian Bwakira is the Group Chief Commercial Officer at Onafriq

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Feature/OPED

Love, Culture, and the New Era of Televised Weddings

Published

on

Televised Weddings

Weddings have always held a special place in African culture. They are more than ceremonies; they are declarations of love, family, identity, and tradition. From the vibrant colours of aso-ebi to the rhythmic sounds of live bands and the emotional exchange of vows, weddings represent a moment of cultural heritage.

In recent years, weddings have gone beyond physical venues. What was once an exclusive gathering for family and friends has transformed into a shared experience for wider audiences. Social media first opened the door, allowing guests and admirers to witness love stories in real time through Instagram posts, TikTok highlights, and YouTube recaps.

And now, television platforms are taking this even further, giving weddings a new kind of permanence and reach.

High-profile weddings, like the widely celebrated union of Adeyemi Idowu, popularly known as Yhemolee (Olowo Eko) and his wife Oyindamola, fondly known as ThayourB, captured massive public attention. Moments from their wedding became a live shared experience on television (GOtv & DStv).

From the high fashion statements to the emotional highlights, viewers were able to feel part of something bigger, a reminder that weddings inspire not just both families but entire communities.

This shift reflects a broader reality: weddings today are content. They inspire conversations about fashion, relationships, lifestyle, and aspiration. They preserve memories in ways previous generations could only imagine. For Gen Z couples, their wedding is no longer just a day; it becomes a story that can be revisited, celebrated, and even inspire others planning their own journey to forever.

Broadcast platforms like GOtv are playing a meaningful role in this transformation. By bringing wedding-related content directly into homes, GOtv is helping audiences experience these moments not just through social media snippets but in real time.

One of the most notable offerings is Channel 105, The Wedding Channel, Africa’s first 24-hour wedding channel, available on GOtv. The channel is fully dedicated to African weddings, lifestyle, and bridal fashion, showcasing everything from dream ceremonies to the realities of married life. Programs like Wedding Police and Wedding on a Budget, and shows like 5 Years Later, offer a deeper look into marriage itself, reminding viewers that weddings are just the beginning of a lifelong journey.

GOtv is preserving culture, celebrating love, and inspiring future couples with this channel. It allows viewers to witness traditions from different regions, discover new ideas, and feel connected to moments that might otherwise remain private.

With platforms like GOtv, stories continue to live on screens across Africa, where love, culture, and celebration can be experienced by all.

To upgrade, subscribe, or reconnect, download the MyGOtv App or dial *288#. For catch-up and on-the-go viewing, download the GOtv Stream App and enjoy your favourite shows anytime, anywhere.

Continue Reading

Feature/OPED

Brent’s Jump Collides with CBN Easing, Exposes Policy-lag Arbitrage

Published

on

CBN’s $1trn Mirage

Nigeria is entering a timing-sensitive macro set-up as the oil complex reprices disruption risk and the US dollar firms. Brent moved violently this week, settling at $77.74 on 02 March, up 6.68% on the day, after trading as high as $82.37 before settling around $78.07 on 3 March. For Nigeria, the immediate hook is the overlap with domestic policy: the Central Bank of Nigeria (CBN) has just cut its Monetary Policy Rate (MPR) by 50 basis points to 26.50%, whilst headline inflation is still 15.10% year on year in January.

“Investors often talk about Nigeria as an oil story, but the market response is frequently a timing story,” said David Barrett, Chief Executive Officer, EBC Financial Group (UK) Ltd. “When the pass-through clock runs ahead of the policy clock, inflation risk, and United States Dollar (USD) demand can show up before any oil benefit is felt in day-to-day liquidity.”

Policy and Pricing Regime Shift: One Shock, Different Clocks

EBC Financial Group (“EBC”) frames Nigeria’s current set-up as “policy-lag arbitrage”: the same external energy shock can hit domestic costs, FX liquidity, and monetary transmission on different timelines. A risk premium that begins in crude can quickly show up in delivered costs through freight and insurance, and EBC notes that downstream pressure has been visible in refined markets, with jet fuel and diesel cash premiums hitting multi-year highs.

Market Impact: Oil Support is Conditional, Pass-through is Not

EBC points out that higher crude is not automatically supportive of the naira in the short run because “oil buffer” depends on how quickly external receipts translate into market-clearing USD liquidity. Recent price action illustrates the sensitivity: the naira was quoted at 1,344 per dollar on the official market on 19 February, compared with 1,357 a week earlier, whilst street trading was cited around 1,385.

At the same time, Nigeria’s inflation channel can move quickly even during disinflation: headline inflation eased to 15.10% in January from 15.15% in December, and food inflation slowed to 8.89% from 10.84%, but energy-led transport and logistics costs can reintroduce pressure if the risk premium persists. EBC also points to a broader Nigeria-specific reality: the economy grew 4.07% year on year in 4Q25, with the oil sector expanding 6.79% and non-oil 3.99%, whilst average daily oil production slipped to 1.58 million bpd from 1.64 million bpd in 3Q25. That mix supports external-balance potential, but it also underscores why the domestic liquidity benefit can arrive with a lag.

Nigeria’s Buffer Looks Stronger, but It Does Not Eliminate Sequencing Risk

EBC sees that near-term external resilience is improving. The CBN Governor said gross external reserves rose to USD 50.45 billion as of 16 February 2026, equivalent to 9.68 months of import cover for goods and services. Even so, EBC views the market’s focus as pragmatic: in a risk-off tape, investors tend to price the order of transmission, not the eventual balance-of-payments benefit.

In the near term, EBC expects attention to rotate to scheduled energy and policy signposts that can confirm whether the current repricing is a short, violent adjustment or a more durable regime shift, including the U.S. Energy Information Administration (EIA) Short-Term Energy Outlook (10 March 2026), OPEC’s Monthly Oil Market Report (11 March 2026), and the U.S. Federal Reserve meeting (17 to 18 March 2026). On the domestic calendar, the CBN’s published schedule points to the next Monetary Policy Committee meeting on 19 to 20 May 2026.

Risk Frame: The Market Prices the Lag, Not the Headline

EBC cautions that outcomes are asymmetric. A rapid de-escalation could compress the crude risk premium quickly, but once freight, insurance, and hedging behaviour adjust, second-round effects can linger through inflation uncertainty and a more persistent USD bid.

“Oil can act as a shock absorber for Nigeria, but only when the liquidity channel is working,” Barrett added. “If USD conditions tighten first and domestic pass-through accelerates, the market prices the lag, not the headline oil price.”

Brent remains an anchor instrument for tracking this timing risk because it links energy-led inflation expectations, USD liquidity, and emerging-market risk appetite in one market. EBC Commodities offering provides access to Brent Crude Spot (XBRUSD) via its trading platform for following energy-driven macro volatility through a single instrument.

Continue Reading

Feature/OPED

Gen Alpha: Africa’s Digital Architects, Not Your Target Audience

Published

on

Emma Kendrick Cox

By Emma Kendrick Cox

This year, the eldest Gen Alpha turns 16.

That means they aren’t just the future of our work anymore. They are officially calling for a seat at the table, and they’ve brought their own chairs. And if you’re still calling this generation born between 2010 and 2025 the iPad generation, then I hate to break it to you, but you’re already obsolete. To the uninitiated, they look like a screen-addicted mystery. To those of us paying attention, they are the most sophisticated, commercially potent, and culturally fluent architects Africa has ever seen.

Why? Because Alphas were not born alongside the internet. They were born inside it. And by 2030, Africa will be home to one in every three Gen Alphas on the planet.

QWERTY the Dinosaur

We are witnessing the rise of a generation that writes via Siri and speech-to-text before they can even hold a pencil. With 63% of these kids navigating smartphones by age five, they don’t see a QWERTY keyboard as a tool. They see it as a speed bump, the long route, an inefficient use of their bandwidth. They don’t need to learn how to use tech because they were born with the ability to command their entire environment with a voice note or a swipe.

They are platform agnostic by instinct. They don’t see boundaries between devices. They’ll migrate from an Android phone to a Smart TV to an iPhone without breaking their stride. To them, the hardware is invisible…it’s the experience that matters.

They recognise brand identities long before they know the alphabet. I share a home with a peak Gen Alpha, age six and a half (don’t I dare forget that half). When she hears the ding-ding-ding-ding-ding of South Africa’s largest bank, Capitec’s POS machine, she calls it out instantly: “Mum! Someone just paid with Capitec!” It suddenly gives a whole new meaning to the theory of brand recall, in a case like this, extending it into a mental map of the financial world drawn long before Grade 2. 

And it ultimately lands on this: This generation doesn’t want to just view your brand from behind a glass screen. They want to touch it, hear it, inhabit it, and remix it. If they can’t live inside your world, you’re literally just static.

The Uno Reverse card

Unlike any generation we’ve seen to date, households from Lagos to Joburg and beyond now see Alphas hold the ultimate Uno Reverse card on purchasing power. With 80% of parents admitting their kids dictate what the family buys, these Alphas are the unofficial CTOs and Procurement Officers of the home:

  • The hardware veto: Parents pay the bill, but Alphas pick the ISP based on Roblox latency and YouTube 4K buffers.

  • The Urban/Rural bridge: In the cities, they’re barking orders at Alexa. In rural areas, they are the ones translating tech for their families and narrowing the digital divide from the inside out.

  • The death of passive: I’ll fall on my sword when I say that with this generation, the word consumer is dead. It implies they just sit there and take what you give them, when, on the contrary, it is the total opposite. Alphas are Architectural. They are not going to buy your product unless they can co-author the experience from end to end.

As this generation creeps closer and closer to our bullseye, the team here at Irvine Partners has stopped looking at Gen Alpha as a demographic and started seeing them as the new infrastructure of the African market. They are mega-precise, fast, and surgically informed.

Believe me when I say they’ve already moved into your industry and started knocking down the walls. The only question is: are you building something they actually want to live in, or are you just a FaceTime call they are about to decline?

Pay attention. Big moves are coming. The architects are here.

Emma Kendrick Cox is an Executive Creative Director at Irvine Partners

Continue Reading

Trending