Cassava Network, a leading Web3 platforms in Africa with a focus on rewards, entertainment, and arts, recently announced the resignation of its CEO, Mouloukou Sanoh. Following a pivotal year of growth and development under his guidance, Sanoh has decided to step down to initiate Mansa, a pioneering fintech venture designed to serve African enterprises.
During his time at Cassava Network, Sanoh was instrumental in driving the company’s expansion within the African market. His strategic leadership saw the assembly of a robust network comprising significant Web2 and Web3 entities, including Boomplay and Carry1st, fostering a synergistic ecosystem within Cassava’s ambit.
Reflecting on his tenure, Sanoh acknowledged the extraordinary progress made by Cassava Network, attributing its successful foray into the African Web3 space to the unwavering support from its dedicated team, governance board, and influential community leaders.
Since its establishment in 2021, Cassava Network has been at the forefront, propelling the requisite blockchain infrastructure to facilitate Africa’s shift to the Web3 era. The platform’s notable introductions, such as a digital identity framework, a multi-chain wallet, a rewards system, and NFT offerings, have significantly contributed to the gradual migration from Web2 to Web3, nurturing a robust community in the process.
“It’s been a distinguished honor to play a part in Africa’s Web3 awakening. Now, it’s time for Cassava Network to experience a change in its leadership, while I embark on a new entrepreneurial endeavor,” stated Sanoh.
Mouloukou’s future endeavor, Mansa, emerges in response to the pressing credit challenges facing Small and Medium-sized Enterprises [SMEs] in Africa. Mansa seeks to address the predominant limitations of current DeFi lending protocols, particularly the need for excessive cryptocurrency collateral, which hinders the borrowing capabilities of potential global borrowers.
Mansa introduces a groundbreaking protocol that allows venture-backed businesses to collateralize a wide range of assets, thus widening the accessibility of crypto to an extensive demographic of borrowers. This initiative by Mansa is set to redefine the boundaries of the conventional financial frameworks, catalyzing the advent of a decentralized financial paradigm.
The overarching mission of Mansa is to revolutionize financing availability for businesses in burgeoning markets by using blockchain technology to craft bespoke financial solutions. Mansa endeavors to narrow the divide between traditional finance and the burgeoning domain of decentralized finance by facilitating connections between businesses and a global array of investors and lenders.