Building a More Inclusive Financial System in Central Africa

AfricaNenda and GIMAC recently came together in Douala, Cameroon, from March 12th to 14th for a vital workshop, following their partnership agreement in September 2023. This event attracted 25 attendees from across Central Africa, aiming to explore and improve payment systems for greater financial inclusion within the Central African Economic and Monetary Community [CEMAC].

The workshop focused on enhancing payment interoperability, boosting digital transactions, and widening financial access. It offered a platform for participants to delve into effective payment solutions, share best practices, and review progress on initiatives agreed upon in their previous MoU.

Valentin Mbozo’o, GIMAC’s General Manager, highlighted the workshop’s role in refining the instant payment system, GIMACPAY, and enhancing service quality for merchant payments. This effort is expected to bring more CEMAC residents into the financial mainstream.

Jamelino Akogbeto of AfricaNenda emphasized the workshop’s aim to refine payment scheme rules, foster inclusivity, and investigate new solutions for merchant transactions and cross-border remittances. The goal is to make significant strides in digital payment and financial access across Central Africa.

The sessions promoted economic growth and digital financial inclusion by focusing on merchant payment solutions, assessing the impact of payment system interoperability, and integrating QR codes for secure and easy transactions.

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