Cassava Network, one of Africa’s most innovative Web3 platforms specializing in incentives, entertainment, and arts, has announced the resignation of CEO Mouloukou Sanoh.
Sanoh is alleged to have left to start Mansa, a new fintech for African enterprises.
Mouloukou’s retirement follows a remarkable year as CEO of the organization.
His vision established the groundwork for Cassava’s rapid rise in Africa. During his tenure, he built a formidable network of collaborators, bringing under the Cassava name notable Web2 and Web3 firms such as Boomplay, Carry1st, Scooper, VSkit, Ficool, BoundlessPay, Stakefair, Katana Inu, Awujo, and others.
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.”
Cassava Network has been an avant-garde force from its establishment in 2021, driving blockchain infrastructure required to shift Africa into the Web3 age. It has championed the transfer from Web2 to Web3, building a healthy community along the way, by introducing a digital identification system, multi-chain wallet, rewards platform, and NFTs.
“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.
Mouloukou Sanoh’s next chapter will focus on the loan crisis afflicting African SMEs. His new startup, Mansa, is a technology that overcomes the primary flaw in current DeFi lending protocols: the demand for borrowers to supply an excess of cryptocurrency collateral. This condition deters potential borrowers worldwide.
Mansa’s novel strategy allows venture-backed enterprises to use a wide range of assets as collateral, giving crypto access to a much bigger pool of borrowers. Mansa is prepared to break the constraints of old financial systems and usher in a new era of decentralized money by adopting this forward-thinking concept.
Mansa’s mission is to “democratize access to financing for businesses in emerging markets,” by offering firms with bespoke financing options via blockchain technology.
Mansa intends to bridge the gap between established financial institutions and the evolving world of decentralized finance by linking businesses with global investors and lenders.
