Chenosis CEO’s Take on Bridging the Financial Inclusion Gap in Africa

In the interview with Saad Syed, CEO of Chenosis, the discussion centered on the critical issue of financial inclusion in Africa. He emphasized the significance of providing access to financial services to a demographic currently underserved in the banking sector. They highlighted the importance of establishing a financial footprint through data, ultimately enabling individuals to participate in the financial world.

Our perspective on financial inclusion underscores its paramount importance for Africa. A significant portion of the population lacks access to essential financial services, limiting their ability to lead a higher quality of life. We believe one of the key facilitators in addressing this issue is enabling these individuals to establish a financial footprint, allowing them to participate in the broader financial ecosystem. This, in turn, necessitates the collection of data that delineates their financial activities and behaviors. While it may not always be a traditional financial track record, a transactional track record serves as a bridge to financial identity.In our role as providers of APIs, we consider ourselves the currency for the exchange of the invaluable asset that is data. When data is the asset, APIs become the means of transacting for that asset. As Africa’s largest API marketplace, we recognize our pivotal role in propelling the cause of financial inclusion.

Saad Syed, CEO of Chenosis