UEMOA with Innovative Fintech Solutions”>GIMpay Unveils Unified Financial Platform Open to 142 Million Consumers in West Africa
A Digital Revolution for Financial Services
At the end of November, Dakar played host to the 8th edition of the regional electronic banking fair, organized by the interbank electronic banking group of the West African Economic and Monetary Union (GIM-UEMOA). The event was dedicated to financial inclusion and driving the digital transformation of the financial ecosystem across the region. The highlight of the fair was the official unveiling of GIMpay, a unified and interoperable platform that promises to revolutionize online financial transactions.
Imagine ordering a ride, purchasing clothes, or transferring funds all from a single digital interface. This is the ambitious vision behind GIMpay, a platform that has been years in the making.
“Today in the region, there is payment of bills, electricity, water, some catering services, but nothing more,” notes Minayegnan Coulibaly, the general director of GIM-UEMOA. “So the idea here is to try to convert as many daily services as possible for consumers in the region into digital form. And so, we need to address the friction that exists in the process. And the presence of a market infrastructure simply aims to consolidate this and allow everyone to benefit from it.”
Collaboration, Not Competition
Some players in the digital payment sector may have seen GIMpay as a potential competitor. However, Sasoum Niang, product and marketing director of InTouch, a company that has offered similar services for ten years, views this development with optimism.
“This is a good thing because it means that States and organizations are keeping up with the needs of our ecosystem by ensuring they always remain in their role as catalyst and an organization that supports the ecosystem,” she highlights.
Opening Doors to a Vast Market
GIMpay currently brings together more than 130 banks and companies. This initiative directly aligns with GIM-UEMOA’s mission and responds to a pressing need in the region. Mikael Naciri, director of the Digital Rails of Africa firm, emphasizes this point.
“GIM-UEMOA is first and foremost a unifier of an ecosystem of players around payment. GIMpay is completely in its role to provide what we call DPIs, that is to say public platforms which are in fact accessible to all stakeholders without discrimination and with an enrollment process which is transparent,” he analyzes.
For Fintechs like African Payment Gateway, GIMpay represents an exciting opportunity to reach a much larger market.
“As a Fintech, we actually need to have access to an open market in **UEMOA** without making any effort to contact all the stakeholders individually. GIMpay has offered us this opening, which means for us access to a much broader financial market beyond the borders of Senegal, which means an opportunity for us. This is why we did not hesitate to seize it,” Explains Mbaye Seck Diop, CEO of African Payment Gateway.
Accessible and Convenient
GIMpay is poised to be a game changer, opening up to a market of 142 million consumers across eight countries. According to stakeholders, the platform is expected to be accessible to the first users from January. The transaction fee, expectedly covering operational costs, will range from 1 to 2% of each transaction.
How does GIMpay aim to overcome challenges of financial access and inclusion in West Africa?
## A Giant Leap for West Africa: Unveiling GIMpay
**Interviewer:** Welcome to the show. Today we’re discussing the exciting launch of GIMpay, a unified financial platform aiming to revolutionize digital transactions for 142 million consumers across West Africa. Joining us is Mr. Minayegnan Coulibaly, the General Director of GIM-UEMOA, the driving force behind this ambitious project. Welcome, Mr. Coulibaly.
**Minayegnan Coulibaly:** Thank you for having me.
**Interviewer:** Mr. Coulibaly, GIMpay promises a comprehensive digital experience. Can you elaborate on its features and how it will impact daily life for West Africans?
**Minayegnan Coulibaly:** Absolutely. GIMpay is designed to be a one-stop shop for a wide range of digital services. Imagine being able to order food, pay your bills, transfer money, and even hail a ride, all through a single platform.
Currently, while some basic services like paying bills or utilities are available digitally, GIMpay aims to significantly expand this. Our goal is to digitize as many daily services as possible, removing the friction points that currently exist and creating a seamless user experience.
This infrastructure will benefit everyone from individuals to businesses, ultimately contributing to a more inclusive and efficient financial ecosystem in the region. [[1](https://www.itedgenews.africa/gim-uemoa-partners-backbase-to-boost-financial-inclusion-in-west-africa-with-super-app-gimpay/)]
**Interviewer:** This is a bold vision. How will GIMpay achieve this ambitious goal, and what sets it apart from existing digital payment platforms?
**Minayegnan Coulibaly:** GIMpay is not about competition. We believe in collaboration. Our platform is designed to be interoperable, meaning it can interact with existing services and systems. This encourages collaboration with other players in the digital payment space and fosters a more integrated and beneficial ecosystem for everyone.
**Interviewer:** That’s a refreshing perspective. What’s next for GIMpay?
**Minayegnan Coulibaly:** We are excited to continue developing and refining GIMpay based on the needs and feedback of our users. We strongly believe that GIMpay has the potential to transform the financial landscape in West Africa and empower millions of people through accessible and convenient digital services.
**Interviewer:** Thank you for sharing your insights with us, Mr. Coulibaly. We look forward to seeing how GIMpay develops and changes the financial landscape in West Africa.
