A Zoom call that connected Washington DC in the United States (US), Kenya’s capital city Nairobi and Johannesburg in South Africa at the same time made this interview possible; just one minor example of what is now a norm in a hyperconnected world.
And yet, a concept as basic as financial independence and access to financial services for all is still a challenge on the African continent. Waya, a fintech based in the US that especially caters to immigrants, minorities and underserved communities, aspires to change this. “For us it’s that broad recognition that financial independence is not a solitary endeavor. It’s a collective pursuit. The goal here is for us to unlock financial opportunities and provide the tools and services and resources that will enable people achieve their dreams,” says Waya co-founder Dr David Wachira.
“We find that if someone is not financially connected, or they are not integrated into the system, they are largely overlooked. As a result of that overlook, it has a huge impact on other facets of life. So we think of ourselves as coming in to actually solve that social impact problem.” A Waya account allows you to fund your account and hold money, make instant and secure Waya-to-Waya transfers, international money transfers, and go cashless or pay online with your Waya card.
Wachira, who previously served as a finance and economics specialist at the World Bank Group, started the company in 2019 with co-founders Hempstone Maroria, Aenoi Chanthavong and Renzo Sotomayor. Coming from diverse backgrounds, they each experienced first-hand the challenges with financial inclusion.
This story is from the October - November 2023 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October - November 2023 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
HIP-HOP'S HOTTEST HUSTLER
The Memphis rap star runs one of the biggest music labels, owns a piece of an MLS team and is looking to expand his empire like his billionaire mentor Jay-Z. But first, he's going to business school.
Kigali Triennial, The Ambitious New Event On The African Cultural Calendar
Rwanda has rightly earned the nickname of \"a land of a thousand hills and a thousand and one opportunities\" because of the country's impressive economic progress. However, after the recently-concluded celebration of arts which was the inaugural Kigali Triennial festival, you can now add culture to the list of things the country offers for tourists and investors.
The dark Side of AI
There is a thin line between innovation and abuse. A look at how large language models (LLMs) are making cyber-criminals even better at mastering the art of deception.
Gene Gamechanger
Disease-resistant crops? Cows that can withstand climate change? Here's how CRISPR is already transforming the continent, and why building a network of skilled scientists can help position Africa as a key global contributor in this frontier of crop development.
Women Empowerment And Transformation In Mining: A Distinctive Perspective
GMDC is a mining company that specializes in tungsten (wolfram) and operates in the city of Kigali, Nyarugenge District, Mageragere Sector.
How The Mining Sector Contributes To Community Development Initiatives
It plays a significant role in Rwanda's overall development, contributing to infrastructure, job creation, health, education, and even environmental conservation. It's not just about extracting resources; mining is mandated to build up the communities and nation alongside its operations.
Reflecting On 2023 Milestones And A Look Ahead
Last year solidified Rwanda's position as a prime African mining investment destination and a burgeoning hub for mineral value addition. What will 2024 hold?
Rwandan Mining Regulator Unveils Three-Year Mineral Exploration Campaign
A holistic approach to responsible mineral resource management in the country.
TASTING SUCCESS
Paul Siguqa has had an unlikely journey in the wine business in South Africa. His mother worked in the vineyards as a laborer during the apartheid era and now, his fully black-owned wine farm sells premium products.
Creating Stronger Communities In Africa Through Digital And Financial Inclusion
In Sub-Saharan Africa, a silent barrier to economic inclusion and social mobility persists: one in four adults lacks identification, according to a World Bank report.
