From November 12 – 15, 2024, the Mojaloop Community gathered in Kigali, Rwanda, alongside key stakeholders from 43 countries in the financial inclusion ecosystem. This event provided a platform for DFSPs, regulators, and private sector leaders to exchange insights and ideas for building scalable IIPS.
The meeting highlighted Mojaloop’s progress and the challenges ahead in advancing financial inclusion, with a focus on innovations like ISO 20022 standards and their potential to enhance money and inter-scheme flows within the COMESA region. Attendees engaged in a diverse array of session formats, including individual and group presentations, panel discussions, and technical demonstrations, each offering valuable perspectives for those committed to financial inclusion.
Every year, the Mojaloop Foundation posts the videos from the sessions on our YouTube channel. You can view the videos from this meeting in a dedicated playlist.
Julie Guetta, Mojaloop Foundation’s technical solutions lead, put together some great posts on LinkedIn that provided her takeaways for the three days. Each post includes a video with discussion with a financial inclusion insider.
- Read Julie Guetta’s takeaways from Day 1 >
- Read Julie Guetta’s takeaways from Day 2 >
- Read Julie Guetta’s takeaways from Day 3 >
Highlights from the Convening
The Community Council serves as the Mojaloop Community’s governing body, tasked with setting strategic goals and resolving any conflicts that arise.
1. Keynote
Minister Paula Ingabire, Information and Communications Technology (ICT) and Innovation, Rwanda
Minister Ingabire began her speech by highlighting the dedication to advancing digital public infrastructure (DPI) and financial inclusion. In Rwanda, 86% of adults are financially included, but around 1 million people remain excluded. Bridging this gap is critical for achieving development goals that help individuals, small businesses, and communities thrive. To address this, Rwanda has launched a multi-foundation initiative linking over 400 savings and credit co-operatives (SACCOs) to expand access to digital financial services, especially in rural areas.
Underscoring the importance of Mojaloop in making payment systems interoperable, resilient, accessible in real time, and available at reduced transaction costs, Minister Ingabire noted, “As we leverage Mojaloop, we’re now building on this momentum to support a national payment system that integrates mobile wallets, banks, and government services.”
She also noted the goal of bolstering financial resilience — enabling Rwandans to manage unexpected expenses without turning to debt. With only 40% of adults globally considered financially resilient according to OECD data, this is an important priority.
Mojaloop’s framework is expected to foster innovation within Rwanda’s fintech sector, allowing tailored solutions that meet local needs, from payments to microloans. Minister Ingabire noted, “Rwanda’s vision is clear: to build a digitally connected, inclusive and empowered society. In this journey, Mojaloop is not merely a tool but a strategic partnership that aligns with our ambitions to establish Rwanda as a digital hub for the continent.”
2. Mobile Money, Financial Inclusion and Regional Guidelines
Innocent Ephraim (IDEA, Sharp Financial Services)
This session explored the revised Southern African Development Community (SADC) Mobile Money Guidelines, focusing on their pillars and success factors to enhance digital financial service adoption through mobile money. Key themes included cross-border harmonization, financial inclusion strategies, and integration into real-time payment systems.
The updated SADC Mobile Money Guidelines emphasize cross-border harmonization and intentional financial inclusion. By leveraging established frameworks like PAFi and FATF, the guidelines ensure measurable progress while supporting the development of a dedicated mobile money stack to drive innovation.
Mobile money fosters financial inclusion by addressing user desirability, business viability, and technical feasibility. However, to effectively compete with cash, digital systems must achieve similar levels of simplicity and convenience.
Integrating domestic payment systems with regional platforms is essential for seamless cross-border transfers. This approach also broadens participation by encouraging payment providers to join regional systems.
Protecting personal information and enabling trade without sharing sensitive data strengthens trust and enhances adoption, making data privacy a cornerstone of the guidelines.
Key success factors include implementing e-KYC, establishing centralized registries, and promoting smart regulatory oversight. Transparent licensing processes, collaboration between central banks and telecom regulators, and expanding intermediary products like savings accounts further support the ecosystem’s growth.
3. Cloud Deployments for Mojaloop: Insights and Business Impact
Nathan Delma (Mojaloop Foundation), Festus Were (PesaLink), Baboucarr Drammeh (Gamswitch), Dr. Jonathan Pinifolo (COMESA)
This session explored the growing trend of deploying Mojaloop in the cloud, highlighting its advantages and challenges compared to traditional on-premises implementations. While on-premises deployment remains the preferred option for many, cloud-based approaches are gaining traction due to their scalability, flexibility, and potential for quicker time to market.
Key advantages of cloud deployment include enhanced scalability, operational resilience, and access to advanced services like AI. However, businesses must evaluate the total cost of ownership carefully, considering factors like FinOps frameworks for cost management and the need to adapt DevSecOps practices for cloud environments. On-premises solutions still provide greater control over data sovereignty and compliance, though cloud providers are making strides in addressing these concerns.
Challenges to cloud adoption include potential system latency, limitations of non-cloud-native applications, and regulatory hurdles like data localization and GDPR compliance. Organizations must also address the loss of direct control to cloud vendors and the need to build trust and buy-in from stakeholders to overcome resistance. Despite these obstacles, the session underscored the transformative potential of cloud deployments and their ability to enhance operational efficiency and drive innovation.
4. Reconciliation and Dispute Module
Bonaparte Ituze (WiredIn), Alain Kajangwe (WiredIn)
This session showcased the Reconciliation and Dispute Modules, which were developed as peripheral components to support a Mojaloop implementation by WiredIn. The modules were built in response to RSwitch’s specific business requirements in the Rwandan market.
The demonstration provided a practical overview of how these modules facilitate efficient reconciliation and dispute-resolution processes. Attendees were able to see firsthand how the modules streamline operations, ensuring accuracy and transparency in financial transactions.
Key takeaways included the importance of customizable solutions tailored to business needs and the value these components add to Mojaloop’s core infrastructure. By integrating these modules, organizations can achieve greater efficiency and reliability in handling transaction disputes and reconciling accounts.
