Mansa, a new fintech for African businesses, has been launched by CEO Mouloukou Sanoh of Cassava Network, one of the continent’s most progressive Web3 platforms specializing in rewards, entertainment, and the arts.
Mouloukou has announced his departure, following a remarkable year running the company. Cassava’s rapid rise in Africa was set in motion under his direction.
He developed a strong network of partners during his time there, bringing together the Cassava brand with well-known Web2 and Web3 companies like Boomplay, Carry1st, Scooper, VSkit, Ficool, BoundlessPay, Stakefair, Katana Inu, and Awujo.
In light of his exit, Mouloukou said, “Working at Cassava Network has been nothing short of amazing. Our successes in leading the way for Web3 in Africa are a testament to the unwavering support we have received from our board, team, and local authorities.”
Cassava Network has been a trailblazing force from its founding in 2021, spearheading the blockchain infrastructure required to usher in Africa’s Web3 future. Its introduction of NFTs, a multi-chain wallet, an awards platform, and a digital identity system has pushed the transition from Web2 to Web3, creating a vibrant community in the process.
“It has been an exceptional privilege to contribute towards the Web3 renaissance across Africa. However, the time is ripe for a leadership transition at Cassava Network and for me to invest my efforts in a new venture,” said Mouloukou.
Mouloukou intends to concentrate on the financing crisis that African SMEs are currently facing.
The main flaw in the DeFi lending methods currently in use is that borrowers must furnish an excessive amount of cryptocurrency collateral.
His new startup, Mansa, is a technology that tackles this issue. This stifles the world’s prospective borrowers.
Thanks to Mansa’s creative strategy, venture-backed companies can use a wide range of assets as collateral, giving cryptocurrency access to a far wider range of potential borrowers.
Mansa is positioned to break through the constraints of established financial institutions and usher in a new era of decentralized money by adopting this progressive methodology.
By using blockchain technology to provide firms specialized funding options, Mansa hopes to “democratize access to financing for businesses in emerging markets.”
Mansa seeks to close the gap between conventional financial systems and the developing global economy by putting companies in touch with lenders and investors worldwide.