Interoperability as a Public Good: What Two-Sided Market Economics Tell Us About Digital Payments and Financial Inclusion

By Estelle Brack The global payments landscape is at a turning point. Bank deposits, mobile money, card schemes, BigTech wallets, stablecoins and now CBDCs all coexist—yet most remain trapped inside walled gardens, fragmenting the market and limiting financial inclusion. The recent BIS Working Paper “Competing digital monies” (2025) offers a timely analytical framework to understand … Lire la suite Interoperability as a Public Good: What Two-Sided Market Economics Tell Us About Digital Payments and Financial Inclusion →

Stablecoins and Mobile Money

Same Promise, Different Risks The rise of stablecoins — digital tokens designed to maintain a fixed value, often pegged to a fiat currency like the US dollar — has reignited old questions about the nature of money, trust, and financial stability. Their promise of “stability” hides a paradox: they resemble traditional money in form, but … Lire la suite Stablecoins and Mobile Money →

Sénégal : la taxe sur la « mobile money », un coup d’épée dans l’eau fiscal (et social)

Le contexte Au Sénégal, l’usage de la monnaie électronique s’est imposé comme un pilier de l’inclusion financière. Avec 95 % d’adultes disposant d’un compte de monnaie électronique, contre 26 % seulement titulaires d’un compte bancaire classique, la monnaie mobile constitue le principal canal de transfert d’argent et de paiement du quotidien. En 2024, près de … Lire la suite Sénégal : la taxe sur la « mobile money », un coup d’épée dans l’eau fiscal (et social) →

COMESA’s Digital Retail Payments Platform: A Turning Point for Local-Currency Trade and Financial Inclusion in Africa

1. A milestone for Africa’s payment landscape In a move that could reshape the way African countries trade with one another, the Common Market for Eastern and Southern Africa (COMESA) officially launched its Digital Retail Payments Platform in early October 2025. Designed to allow businesses and consumers to settle transactions directly in local currencies, the … Lire la suite COMESA’s Digital Retail Payments Platform: A Turning Point for Local-Currency Trade and Financial Inclusion in Africa →

When Openness Meets Strategy: What the EU’s FiDA Decision Means for the Future of Digital Finance and Inclusion

The European Union has taken a decisive step toward reshaping the architecture of digital finance. In late September 2025, EU finance ministers agreed to advance the Financial Data Access (FiDA) Regulation, a cornerstone of Europe’s “open finance” framework that builds on PSD2 but extends far beyond banking.Yet one aspect of the decision drew global attention: … Lire la suite When Openness Meets Strategy: What the EU’s FiDA Decision Means for the Future of Digital Finance and Inclusion →

Illuminating the “Darker Corners”: Why Lagarde’s Call to Rein In Non-Banks Matters for Inclusion

European Central Bank President Christine Lagarde has recently renewed her call to extend greater regulatory scrutiny over non-bank financial intermediaries—hedge funds, private equity, credit funds, and other “shadow banking” actors—that currently enjoy lighter oversight than banks. Given the structural growth of these actors and their increasing links to the banking system, Lagarde warns of an … Lire la suite Illuminating the “Darker Corners”: Why Lagarde’s Call to Rein In Non-Banks Matters for Inclusion →

Is CBDC a Solution to Favor Financial Inclusion in West Africa?

The emergence of Central Bank Digital Currencies (CBDCs) offers both hope and caution for West Africa, where nearly 60% of adults remain unbanked (World Bank, 2022). While mobile money has expanded access, critical gaps persist, particularly in savings, insurance, credit, and cross-border transactions. CBDCs could become a transformative tool for financial inclusion. They offer a … Lire la suite Is CBDC a Solution to Favor Financial Inclusion in West Africa? →

The digital assets opportunity in Africa

According to Chainalysis 2024 Geography of Crypto Report, Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and June 2024, with an estimated USD 125 billion in on-chain value during this period, a USD 7.5 billion increase compared to the previous year. But adoption of digital currencies … Lire la suite The digital assets opportunity in Africa →

Les institutions financières et les fonds de la diaspora africaine

J'ai participé au podcast de Welly Diallo suite à sa charmante invitation et nous avons parlé de l'argent de la diaspora africaine, et des inititiatives des institutions financières dans ce domaine. Le podcast est disponible sur Apple Podcast, Spotify. Bonne écoute!

Du contexte – Et la Terre est devenue plate

Connaître le contexte local est primordial - bien évidemment - pour les phases de diagnostic de l'existant, du cadrage, de la mise en oeuvre et l'évaluation d'un projet. Chaque pays a ses spécificités multifactorielles - historiques, culturelles, géographiques, économiques - qui sont suffisamment nombreuses pour se combiner dans des possibilités infinies. On parle d'Europe ou … Lire la suite Du contexte – Et la Terre est devenue plate →