Nathan Annobi, CEO of PaySwitch Ghana, explained plans to expand across Africa and solutions involving alternative credit scoring and digital lending for people without bank accounts.
In the interview, Nathan Annobi, CEO, identified a lack of digital literacy and barriers to practical use after adoption as challenges to digital financial inclusion, and highlighted the need to expand financial services across Africa.
PaySwitch said it is considering expansion into new markets beyond Ghana and aims to expand regionally based on financial technology solutions it has already piloted in Ghana.
The company explained that it plans to focus on improving access for underserved financial users and use alternative credit assessments and inclusive digital lending to ensure that a lack of credit information does not become a barrier to financing.
The use of data from everyday economic activity for credit assessment was described as effective, with particular emphasis on the potential for low-cost financing for smallholder farmers in the agricultural sector to increase production and employment.