Tanzania sees fortune in AfricaNenda’s digital financial ecosystem backed by Gates Foundation, Equity Group

DAR ES SALAAM: TANZANIA’S digital financial ecosystem is expected to benefit from a new continental partnership between AfricaNenda Foundation, supported by the Gates Foundation, and Equity Group Holdings Plc aimed at accelerating the development of Digital Public Infrastructure (DPI) across Africa.

The initiative comes as Tanzania continues to expand digital payments, financial inclusion and interoperability through platforms such as the Tanzania Instant Payment System (TIPS), with experts saying stronger Digital Public Infrastructure could improve payment efficiency, reduce transaction costs and strengthen connectivity between banks, mobile money operators, merchants, government services and regional markets.

Digital Public Infrastructure refers to shared digital systems that enable individuals, businesses and public institutions to access trusted services including digital payments, digital identity and secure data exchange. These systems are expected to support faster financial transactions, improve service delivery, facilitate cross-border trade and expand access to financial services, particularly for underserved communities.

Under the partnership, AfricaNenda Foundation, Equity Group Holdings and the Gates Foundation will collaborate to support the development of interoperable payment systems, digital payment innovation, merchant and government payment solutions, cross-border payment ecosystems, regulatory engagement, technical assistance, knowledge sharing and policy advocacy across African countries.

The collaboration is considered relevant to Tanzania’s ongoing efforts to deepen financial inclusion and modernize its payment ecosystem. Industry stakeholders say stronger Digital Public Infrastructure could complement national initiatives by reducing transaction friction, supporting small and medium-sized enterprises (SMEs), promoting regional trade and increasing access to formal financial services.

The partnership will initially be implemented in Rwanda under the leadership of President Paul Kagame before expanding to the Democratic Republic of Congo and subsequently to other African markets. Organizers say lessons learned during the initial implementation are expected to guide broader adoption across the continent, including in countries such as Tanzania.

As part of the initiative, Equity Group Managing Director and Chief Executive Officer, Dr James Mwangi, has been appointed Continental Digital Public Infrastructure Champion in recognition of his contribution to advancing inclusive digital financial systems across Africa.

In his new role, Dr Mwangi is expected to advocate for interoperable Digital Public Infrastructure that supports financial inclusion, lowers the cost of accessing trusted digital platforms, promotes innovation among young entrepreneurs, enables seamless cross-border payments and strengthens regional economic integration under the African Continental Free Trade Area (AfCFTA).

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Speaking during the signing of the Memorandum of Understanding, AfricaNenda Foundation Chief Executive Officer Dr Robert Ochola said the partnership builds on Equity Group’s experience in promoting financial inclusion and seeks to move Digital Public Infrastructure from policy discussions to practical implementation.

He noted that although Equity has expanded financial inclusion for millions of Africans, nearly 400 million people across the continent remain outside the formal financial system, making collaborative efforts essential to expanding access to digital financial services.

Dr Ochola also emphasized the importance of private sector participation in implementing Digital Public Infrastructure, saying financial institutions bring the operational capacity, market reach and innovation needed to scale digital solutions.

Speaking after his appointment, Dr Mwangi described Digital Public Infrastructure as a key driver of Africa’s next phase of economic transformation, adding that stronger collaboration between governments and the private sector could accelerate the rollout of critical digital infrastructure, including digital identity and interoperable payment systems.

Meanwhile, Nanjira Sambuli, Senior Advocacy Manager for Africa, Inclusive Financial Systems and Digital Public Infrastructure at the Gates Foundation, said the Foundation supports the initiative because Digital Public Infrastructure should deliver tangible benefits to citizens through improved access to digital financial services.

For Tanzania, analysts say the partnership has the potential to reinforce ongoing efforts to strengthen digital banking, merchant payments, SME financing and cross-border financial services, while supporting broader financial inclusion and regional economic integration as the country’s digital economy continues to grow.