Building the "Boring" Stuff: Infrastructure for Money Movement & Trade

The Trajectory Africa

In Episode 1 of this series, Abraham Augustine, Research Partner of trendsAf and Comms and Programs Lead at Norrsken warned against “long arm, no mouth” syndrome and the risks of digitalizing one part of a system (distributed solar energy, for example) without considering where the barriers and effects might materialize (think missing payment rails). Infrastructure is great, but it can’t be half-baked, and those pipes need something to carry. That something is trade.

Previous guests Samora Kariuki and Wiza Jalakasi both emphasized the power of interoperability—cross-continental (and international) money movement to catalyze the development of Africa’s digitally-enabled financial systems. And in the previous episode, ‘Tayo Bamiduro suggested that while physical infrastructure takes time to build, you can rapidly scale digital infrastructure to deliver inclusion, access, and inclusive growth.

In this episode, I’m chatting with Gwera Kiwana, VP of Partnerships, Blockchain Payments for Onafriq and Nika Naghavi, Chief Network Officer, also of Onafriq, a “network of networks” that makes borders matter less. We dig into what it looks like to build infrastructure that connects mobile money networks, banks, fintechs and cash pick up points to support African trade.

What role can crypto still play in fintech infrastructure? How does a cross-border payment work? And what are the implications of USD dominance in international trade? It’s all here. I hope you enjoy the conversation.

Tune in to hear about:

[2:25] - Role of crypto as enabling infrastructure for trade flows

[9:40] - The role of USD in trade/Implications of USD dominance for international trade

[13:16] - The evolution of Onafriq, market and channel expansion and acquisitions

[27:55] - Anatomy of payment transactions and cross-border payments

[39:01] - Distribution of infrastructure jobs to be done and the problems Onafriq solves

[59:20] - Business model, competition vs. cooptition and future growth

[1:08:00] - Counterintuitive first principle

Recommendations:

Chasing Outliers. Why Context Matters for Early Stage Investing in Africa, a report I co-authored on VC investing in Africa.

Connect on social media:

• Gwera Kiwana on LinkedIn
• Gwera Kiwana on Twitter
• Nika Naghavi on LinkedIn
• Nika Naghavi on Twitter
• The Trajectory Africa on LinkedIn
• Tayo Akinyemi on LinkedIn
• Tayo Akinyemi on Twitter