Corporates Kenya

Cassava Network CEO Mouloukou Sanoh Steps Down to Launch Mansa – a Financing Fintech for African Businesses

Hong Kong, CHINA / London UK – November 7th, 2023 – Cassava Network, one of Africa’s most progressive Web3 platforms specialising in rewards, entertainment, and arts, today announced that CEO Mouloukou Sanoh has stepped down to launch Mansa, a new fintech for African businesses.

Mouloukou’s departure comes after a transformative year leading the company. His leadership laid the foundation for Cassava’s accelerated growth in Africa. During his tenure, he cultivated a formidable network of collaborators, uniting prominent Web2 and Web3 brands such as Boomplay, Carry1st, Scooper, VSkit, Ficool, BoundlessPay, Stakefair, Katana Inu, Awujo, and others under the Cassava banner.

Reflecting on his departure, Mouloukou commented, “The journey at Cassava Network has been nothing short of awe-inspiring. Our achievements in paving the way for Web3 in Africa speak volumes about the unyielding support from our team, board, and community leaders.”

Since its inception in 2021, Cassava Network has been an avant-garde force, driving blockchain infrastructure needed to transition Africa into the Web3 era. By introducing a digital identity system, multi-chain wallet, rewards platform, and NFTs, it has championed the migration from Web2 to Web3, fostering a thriving community along the way.

“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,” Mouloukou shared.

As for his next chapter, Mouloukou is turning his focus to the credit issue crippling SMEs in Africa. His new company, Mansa, is a protocol that addresses current DeFi lending protocols’ major shortcoming: the requirement for borrowers to provide an excess of cryptocurrency collateral. This requirement stifles potential borrowers globally.

Mansa’s innovative approach enables venture-backed businesses to leverage a myriad of assets as collateral, providing crypto access to a significantly larger pool of borrowers. By embracing this forward-thinking model, Mansa is poised to shatter the limitations of traditional financial systems and introduce a new era of decentralised finance.

Mansa’s goal is to “democratise access to financing for businesses in emerging markets,” providing tailored financing solutions to businesses through blockchain technology. By connecting businesses with global investors and lenders, Mansa aims to bridge the gap between traditional financial systems and the evolving world of decentralised finance.

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