Sub-Saharan Africa is a vibrant, forward-looking continent where innovation and early digital adoption is practically the norm. There are opportunities to progress at a pace that could outstrip other regions. Esther Chibesa, TTS Head for Sub-Saharan Africa, Citi, and Sheetal Shah, TTS Sales Head for Sub-Saharan Africa, Citi, explain how this region is adapting and advancing.
Like almost everywhere else on the planet, Sub-Saharan Africa is now emerging from the impact of the Covid-19 pandemic. Thankfully, due to the readiness of the population to be early digital adopters, the region is bouncing back quickly and strongly. With the digital-first mindset prevailing across many Sub-Saharan Africa countries, there is a real opportunity to show other regions how it can be done.
TTS Sales Head for Sub-Saharan Africa, Citi
For instance, South Africa removed cheque books from its menu of payment mechanisms in 2020, whereas the UK and, in particular, the US still cling to this legacy format. Payments on mobile phones are now perhaps more embedded across Africa than in any other geography. There are many more examples, and for Shah, Citi has been taking on a key role in the digitalisation journey, as treasuries across the continent evolve to embrace the new digital normal.