The Payments Barrier: Financial Inclusion in a Fragmented System

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Voices of Resilience

Na'amal

31 episodes

2 months ago

The number of people who have been forcibly displaced continues to increase alarmingly; as of mid 2022, the UNHCR has reported that for the first time on record, the number of forcibly displaced people worldwide has surpassed 100 million. This is a staggering figure in itself, but another tragedy of the enormity of this number is that it often overshadows the fact that every one of those 100+ million is a distinct individual who has had their life irrevocably altered and their inspiring story tends to be buried under the statistics. During the first edition of the Migration Summit in 2022, we hosted various storytelling sessions where we heard from displaced individuals, with the aim of humanising these statistics. Similar to these sessions, we are looking to amplify the voices of some incredible individuals who have overcome obstacles far beyond our imagination. The aim of this podcast is to share the journeys of six individuals striving for the dignified life they deserve. Given that education and employment are often a pivotal part of the road to a financially stable, dignified life, this podcast will share insight on their journeys, with a focus on their education paths and livelihoods. In this podcast, we hope to contribute to the shift in the narrative of refugees across the world and encourage stakeholders and listeners alike to take action. We do not want the label of refugee to define these individuals as powerless victims, instead, we intend to portray them as the determined individuals that they are with full agency to succeed in any way they desire, given the right resources. This podcast series will consist of seven episodes. It will be released in January, in the run-up to the Migration Summit 2023 which will explore the theme “Co-creating pathways to learning, livelihood, and dignity”.

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Documentary

Education,

Society & Culture

The Payments Barrier: Financial Inclusion in a Fragmented System

Voices of Resilience

1 hour 2 minutes

2 months ago

The Payments Barrier: Financial Inclusion in a Fragmented System

Welcome to Voices of Resilience Season 3, brought to you by Na'amal, a non-profit and social enterprise dedicated to empowering forcibly displaced individuals through dignified remote work. In this episode, we delve into the exciting and sometimes challenging landscape of AI and Africa's digital future.

Co-hosted by Clay Lowe and Lorraine Charles, this conversation features Nick Murphy, CEO and Co-Founder of Kutana Pay, a fintech company reimagining payments across Africa and other emerging markets. Nick shares how his decade of experience helping UK and EU companies expand into Africa revealed a massive problem, slow, expensive, and inaccessible payments, and why removing that friction is essential for unlocking economic opportunity.

About Our Guest:
Nick Murphy leads strategy, growth, and mission at Kutana Pay, which is working to build a world where financial borders no longer hold people or businesses back. Kutana Pay’s platform enables companies in the Global North to send payments into emerging markets, while giving African SMEs and individuals access to global currencies in a secure, cost-effective, and compliant way.

About Kutana Pay:
With a focus on robust compliance, smart treasury systems, and financial inclusion, Kutana Pay addresses the two-way challenge of moving money into and out of African markets. Their mission is rooted in creating payment infrastructure that supports trade, digital work, and the participation of marginalized communities in the global economy.

Episode Highlights

The Payments Barrier and Why It Matters

How slow, expensive cross-border systems, built for the West, exclude much of Africa from global markets
Why access to USD and other major currencies is critical for importing goods, paying workers, and enabling digital work
The two waves of African fintech: sending money in (diaspora remittances) vs. sending money out (trade and services)

The Role of Compliance and Documentation

How KYC (Know Your Customer) rules can exclude refugees and people without formal IDs
Balancing compliance with access, Kutana Pay’s approach to saying “yes” first and solving documentation hurdles creatively
The human impact of being shut out from financial systems, particularly for displaced individuals earning digitally

Kutana Pay’s Model and Innovations

What onboarding, verification, and secure transfers look like in practice
Building trust through infrastructure and partnerships with NGOs, employers, and payment processors
Stories that show the tangible impact of inclusive payment systems

Systemic Solutions for Financial Inclusion

Policy and regulatory changes that could open up access for millions
The role of private sector innovation vs. government-led reform
What an inclusive, human-centered payments ecosystem could look like, and how to avoid replicating old patterns of exclusion

Discussion Topics:

Why cross-border payments are critical for enabling digital work in Africa
Financial barriers faced by refugees and marginalized people
Trust, infrastructure, and systemic reform in Africa’s financial landscape
Designing inclusive systems that work for everyone, everywhere

Connect with Us:

Na'amal Website: namal.org
LinkedIn: https://www.linkedin.com/company/naamal/posts/?feedView=all
Instagram: _naamal_