The Future of African Payments: Nkebet Mesele Outlines Intreensic’s Strategy
The Future of Payments and Financial Inclusion Across Africa
Founder and CEO, Nkebet Mesele, discusses the launch of Intreensic, a payments education and advisory group, and its significance for payments and financial inclusion across Africa.
Exploring Payment Evolution
What piques your interest the most about the transformation in payments, and how do women play a role in this journey, particularly in Africa?
The payment evolution is indeed fascinating. From my early days in the industry, where card payments were limited to magnetic strips prone to cloning, we’ve arrived at an era where paying could be as simple as a glance or a touch. We pay with our eyes and fingerprints, even through wearables! It’s an exciting time, not merely about owning something but becoming an integral part of the process. It’s thrilling especially when you realize you’re contributing to such profound changes.
Moving on to women in payments, many inspiring women have led from the front in an industry typically dominated by men. Their perseverance and determination have been nothing short of awe-inspiring. Behind every advancement are remarkable stories, like the woman-led introduction of Nigeria’s first Mastercard for international use. Women have also spearheaded remittance revolutions that transformed Africa’s financial scene.
Charting the Journey to Intreensic
So, let’s delve into your impressive career, spanning sectors like banking, payments, telecommunications, and education. How did these experiences pave the way for Intreensic?
Answer: My career began in education—my first job, back in 1999, was teaching alongside running a school with my mother that still operates today. While education remains my passion, the allure of the corporate world led me to explore telecommunications initially, followed by a decade in banking at GTBank. It was a time when the payment sector was just emerging, and being part of milestones like the shift from magnetic stripe to chip-and-pin cards and setting up Nigeria’s first POS systems was incredibly fulfilling.
The transition to payments on a global stage broadened my insight into technologies like QR codes and contactless payments at Visa. Coming full circle into education, I now aim to foster a new wave of professionals equipped to navigate and innovate in the ever-evolving payments landscape.
Defining Moments and Industry Challenges
Can you share some career-defining moments?
Answer: Numerous significant events have shaped my journey. Issuing GTBank’s first Naira Mastercard for cross-border payments stands out, as does creating the GT World app, actively used today. At Visa, spearheading QR payments’ rapid rollout was an essential contribution. In South Africa, I led a project transforming retail spaces into financial access hubs, significantly enhancing financial inclusion across Africa.
What challenges and opportunities do you see in Africa’s payments industry, and how does Intreensic address them?
Answer: Despite a fragmented and rapidly growing sector, structured education in payments remains scarce. People typically learn on the job about specific areas like mobile money or remittances, without a comprehensive certification framework encompassing the entire industry.
Intreensic was envisioned to bridge this gap by establishing a standardized certification system, ensuring businesses can trust our credentials.
Intreensic’s Offerings and Unique Value
Our strategy involves three verticals:
- Consulting – We guide corporates on digital strategies, process re-engineering, and payment optimization with our Payment Economics platform.
- The Payments School – Our educational arm offers training to help individuals excel in the payments space.
- Resourcing – We provide well-trained professionals to businesses, particularly crucial in the midst of workforce migration.
What unique value does Intreensic offer?
Answer: Our faculty is our strength. Encapsulating global expertise and local insights, we unite specialists to profoundly impact Africa’s payment landscape. Our Africa-centric curriculum, though incorporating global best practices, is tailored to address unique challenges within the continent. Our commitment to real-world case studies and fostering professional communities further underscores our distinctiveness.
Engaging Diverse Audiences
Who can benefit from Intreensic’s programs?
Answer: We cater to corporate entities seeking consulting, training, or advisory services. Furthermore, individuals aiming to transition into fintech, or fresh graduates looking to make an industry impact, find value in our offerings.
Government agencies significantly influence the payments ecosystem, and we plan to work closely with them to foster regulatory advancements.
Innovation in Training
Can you describe some training and certification programs?
Answer: Our offerings vary to meet different expertise levels:
- Introduction to Payments—a foundational, self-paced course for industry newcomers.
- The Payments Professional—a comprehensive course exploring different payment types, emphasizing case studies and group learning.
- Specialized Courses—advanced programs on payment operations, cybersecurity, and more, designed for corporate clients, typically spanning two to three months.
Tackling Talent Challenges
How does Intreensic address talent acquisition and retention challenges?
Answer: Through consulting services, we assess companies’ needs, identifying and filling talent gaps with trained professionals. We are also launching a graduate boot camp, aligning new entrants with companies struggling to find skilled talent in fintech and payments sectors.
Expanding Across Africa
What are Intreensic’s expansion plans?
Answer: Although rooted in Lagos, our digital learning platform facilitates cross-border operations. We’ve trained professionals in Gambia, Botswana, Namibia, and beyond, with an upcoming cohort in Ghana.
Our initial Nigeria focus has expanded due to increasing demand across African markets, prompting a rapid scaling of our reach and offerings.
Strategic Visions and Partnerships
What is Intreensic’s broader vision, and what strategic partnerships are you pursuing?
Answer: Within three years, we aim to establish operations in three pivotal African markets, creating tailored hubs like Intreensic Kenya or South Africa. We pursue strategic alliances with financial institutions, fintechs, and regulatory bodies to bolster Africa’s payment ecosystem. Although Africa remains our focus, we welcome global collaborations aligned with our mission.
Driving Financial Inclusion
How will Intreensic contribute to financial inclusion across Africa?
Answer: Our goal is to foster an educational framework that enhances problem-solving skills, driving focus beyond just creating duplicated solutions. We plan to establish labs for innovators to test solutions, offering counsel and connections for financial backing, ensuring broader societal impacts are achieved.
The Ultimate Vision
What is Intreensic’s ultimate vision and what impact do you envision in five years?
In five years, we aspire to be Africa’s payment oracle—integral to any decision within the continent’s payment landscape. Any endeavor involving payments in Africa must engage with Intreensic, providing a key partnership conduit, even for international enterprises seeking an African footprint.
