How PawaPay is unlocking Africa’s mobile money ecosystem for businesses
Ismaël Kouassi, Director of Côte d’Ivoire at PawaPay, describes his company as a technological bridge connecting African businesses to the continent’s thriving mobile money economy. In an exclusive discussion, he explains how PawaPay simplifies payments, transfers, transaction tracking, and financial flows for companies, banks, and SMEs through a single integration.
PawaPay functions as a facilitator, enabling businesses across Africa to tap into the mobile money ecosystem seamlessly.
At the heart of this role is the orchestration of payments across multiple markets. Whether a money transfer provider wants to send funds to mobile wallets, an internet service provider needs to collect subscriptions, a ride-hailing platform must pay drivers, or digital enterprises aim to serve customers in several African countries, PawaPay provides the technical layer that makes it possible. Meanwhile, mobile money operators retain responsibility for customer accounts and electronic money issuance, banks handle core banking and fund custody, and regulators ensure market integrity.
The company currently operates in 20 African markets, a footprint guided by three key priorities: customer demand, the strength of local payment ecosystems, and long-term partnership potential. Kouassi notes that companies like Bolt, Yango, LemFi, and GiveDirectly—each expanding across multiple countries—directly influence PawaPay’s expansion strategy. The goal isn’t merely geographic expansion but building a cohesive network that allows businesses to scale operations continent-wide.
Why West Africa’s UEMOA region—and Côte d’Ivoire in particular—is a fintech powerhouse
West Africa, led by the UEMOA zone, has emerged as one of Africa’s most dynamic regions for digital payments. In 2025 alone, mobile money transactions in the region surpassed $500 billion, with over 517 million registered accounts—the highest density of active mobile money services globally. Within this landscape, Côte d’Ivoire stands out as a strategic hub: the region’s largest economy, a financial center with more than 28 million mobile money accounts (13 million active), and a market where mobile money has become a cornerstone of daily commerce.
The BCEAO’s interoperable instant payment platform, PI-SPI, illustrates the region’s commitment to modern financial infrastructure. By April 2026, over 80 institutions—including banks, electronic money issuers, and microfinance institutions—were already integrated, signaling a robust foundation for digital commerce.
Kouassi highlights several factors that make Côte d’Ivoire and the UEMOA particularly attractive for pan-African payment infrastructures like PawaPay. The depth of the banking sector, high mobile money adoption rates, entrepreneurial dynamism, and Abidjan’s role as a regional economic hub all contribute to a fertile environment for fintech innovation. Regulatory decisions or partnerships forged in Côte d’Ivoire can have ripple effects across the UEMOA, amplifying their impact.
Beyond technical access: how banks benefit from integrating mobile money infrastructure
For banks in Francophone Africa, collaborating with payment infrastructures like PawaPay isn’t just about connecting to mobile money—it’s about unlocking new growth opportunities. While banks remain central to liquidity management, compliance, and client relationships, the mobile money ecosystem has become an integral part of the financial landscape. According to industry data, cross-border transfers between bank accounts and mobile wallets reached approximately $167 billion in 2025, with similar volumes flowing in the opposite direction.
This integration allows banks to expand their reach, improve cash flow visibility, and offer tailored services to SMEs—many of which already rely on mobile money for collections. By bridging the gap between traditional banking and digital payments, infrastructures like PawaPay enable financial institutions to meet their clients where they are, fostering financial inclusion and business growth.
The future of mobile money: diversified growth beyond transfers
The next phase of mobile money’s evolution will be driven by multiple segments. While person-to-person transfers remain foundational, merchants are increasingly adopting mobile money for payments, with transaction volumes rising over 40% in 2025. This shift reflects a broader trend: mobile money is no longer a niche solution but a daily tool for commerce, spanning sectors like digital services, internet subscriptions, transportation, education, and retail.
In the UEMOA, financial inclusion surged from 56% to 71% between 2018 and 2022, largely thanks to digital financial services and mobile money.
Cross-border payments are also poised for growth as African businesses expand regionally. Initiatives like the mutual recognition agreement between Ghana and Rwanda highlight a broader trend: African regulators are increasingly collaborating to support integrated commerce while maintaining necessary safeguards. While harmonization won’t follow a single model, the growing willingness to align frameworks bodes well for the continent’s economic integration.
Building a seamless pan-African payment network: challenges and prerequisites
The foundation for a fluid, interoperable African payment network already exists. Strong mobile money adoption, continuous investments in digital infrastructure, and regional initiatives like PAPSS and PI-SPI demonstrate a shared ambition to enhance connectivity. However, achieving this vision will require deeper collaboration among operators, banks, infrastructure providers, and regulators. The focus must extend beyond faster transactions to fostering trade, exchanges, and economic participation across borders.
The goal isn’t just technological connectivity—it’s enabling businesses to serve customers across markets, consumers to access more options, and financial institutions to tap into a larger regional economy.
Yet technology alone won’t suffice. Addressing currency management, compliance, fraud prevention, and governance will be critical to ensuring a secure and scalable ecosystem.
PawaPay’s role in strengthening Côte d’Ivoire as a regional fintech hub
For a regional hub like Côte d’Ivoire, PawaPay’s value lies in reducing complexity. Every time a business seeks to expand across African markets, it faces technical, regulatory, and operational hurdles. By providing a unified platform, PawaPay enables companies, banks, and fintechs to enter multiple markets with minimal friction.
Our infrastructure accelerates access to regional and continental opportunities, driving investment, innovation, and economic circulation.
The next chapter of Africa’s financial development won’t just be digital—it will be distinctly pan-African, with Côte d’Ivoire playing a pivotal role in this transformation.
