Econet Group and Mastercard to collaborate on fintech solutions for Covid-19 response in AfricaMay 7, 2021 | Africa
The Econet Group through its subsidiary Cassava Fintech International (Cassava Fintech) and Mastercard have entered into a strategic partnership to advance digital inclusion across Africa and collaborate on a range of initiatives including expansion of the Africa CDC TravelPass.
TravelPass is a digital health pass developed by Cassava Fintech and offered in conjunction with the Africa Centres for Disease Control and Prevention (Africa CDC). It is accessible to users of Cassava Fintech’s Sasai SuperApp, and is recognised as one of the leading initiatives in the fight against the cross-border spread of Covid-19 in Africa. Mastercard is partnering with Cassava Fintech to enhance the security of TravelPass through Mastercard’s Community Pass platform. Mastercard Community Pass is an interoperable digital platform facilitating service delivery for marginalised individuals and communities, including access to critical health services like patient care plan tracking for Covid-19.
The joint initiative between Mastercard and Cassava Fintech seeks to offer a unified solution with greater convenience and enhanced security, that is expected to promote safe cross border travel in Africa in response to the Covid-19 pandemic.
The partnership will also allow the two organizations to explore collaboration such as the further integration of the Community Pass with Cassava Fintech’s mobile and financial services, acquiring and processing of card payments across the continent, along with the introduction of a virtual or physical card on the Sasai SuperApp.
Cassava Fintech’s CEO, Darlington Mandivenga said the partnership with Mastercard would pave the way for both companies to jointly tackle the challenges facing African economies as they re-open post the COVID-19 pandemic.
“We are excited to work with Mastercard to explore solutions that will, among other things, mitigate the risk of falsified presentation of a third party’s Travel Pass at access and transit points,” Mandivenga said, adding that the same technology could also be used in payment solutions.
Cassava Fintech uses an integrated model to provide financial and digital services to ensure a “financially inclusive future that leaves no African behind”.
“We look forward to to joining hands with Cassava Fintech in exploring new solutions that will make a difference and benefit the continent. In addition to digital innovation for future travel, Cassava will also leverage our secure payments network to advance access to financial services,” said Mark Elliott, Divisional President, Southern Africa, Mastercard.
Mastercard is a leading global technology company focused on building an inclusive, sustainable digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart and accessible.
About Cassava Fintech International
Cassava Fintech International (CFI) is the fintech subsidiary of the Econet Group. CFI built Africa’s first truly global SuperApp – Sasai a multi-service technology platform that brings together digital payment solutions, on-demand services, instant messaging, and digital content in a single, easy-to-use mobile application. In selected markets across Africa, CFI has been able to drive financial inclusion from under 10% to as high as 80% through solutions that have created thousands of jobs and business opportunities for African entrepreneurs.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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