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ayachehbouni

FarmDrive in Kenya | Future Young Leaders - 0 views

www.futureyoungleaders.org/...farmdrive-in-kenya

shared by ayachehbouni on 13 Feb 21 - No Cached
  • In addition to the validated farm-level data collected through the app, FarmDrive also collects big data from satellite companies, weather stations, government agencies, and more. Using these aggregated data, the model generates credit scores and provides automated decisioning tools that enable financial institutions to develop loan products that fit the economic and agronomic needs of smallholder farmers.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      FarmDrive makes sure to gather all possible data from different agencies and using different models to provide their clients with suitable loan deals. This supports automated financial services and better risk assessment.
  • In 2016 FarmDrive completed the initial phase of product-market fit in partnership with a Kenyan MFI. Through this pilot over KES 15 mil (USD 150,000) in loans were disbursed throughout 16 counties in Kenya. The pilot served as a proof point that better risk assessment can unlock capital for smallholder farmers, and informs the product development we’re doing today to drive more capital to farmers
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      The achievements of FarmDrive exceed what was expected. That is thanks to, along with other things, the partnerships it had that allowed to provide more and extend its reach.
nouhaila_zaki

M-Pesa - Wikipedia - 0 views

en.wikipedia.org/M-Pesa

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 12 Feb 21 - No Cached
  • M-Pesa is a branchless banking service; M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA is unique because it offers branchless banking which makes transactions more efficient.
  • It has since expanded to Tanzania, Mozambique, DRC, Lesotho, Ghana, Egypt, Afghanistan and South Africa. Meanwhile services in India, Romania, and Albania have been terminated amid low market uptake. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      I like this excerpt because it describes where M-Pesa has successfully expanded and where the company's expansionist efforts failed.
  • M-Pesa is widely seen as demonstrating that it is possible to make a profit while also improving the lives of the poor.[28] Tavneet Suri, based at the Massachusetts Institute of Technology, and William Jack, based at Georgetown University have produced a series of papers extolling benefits of M-Pesa. In particular, their 2016 article published in "Science" has been very influential in the international development community. The much cited result of the paper was, that 'access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.[29] Global development institutions focusing on the development potential of financial technology frequently cite M-Pesa as a major success story in this respect, citing the poverty-reduction-claim and including a reference to Suri and Jack’s 2016 signature article. In a report on "Financing for Development", the United Nations write: "The digitalization of finance offers new possibilities for greater financial inclusion and alignment with the 2030 Agenda for Sustainable Development and implementation of the Social Development Goals. In Kenya, the expansion of mobile money lifted two per cent of households in the country above the poverty line."[30]
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reports on academic research describing how M-Pesa is the living example of how the search for profit is not antithetical to inclusion and improvement of lives of the poor. Using M-Pesa as a case study, several researchers praise fintech for its ability to offer greater financial inclusion.
ayachehbouni

How Digital Technology Is Changing Farming in Africa - 0 views

hbr.org/...-is-changing-farming-in-africa

shared by ayachehbouni on 13 Feb 21 - No Cached
  • FarmDrive, a Kenyan enterprise, connects unbanked and underserved smallholder farmers to credit, while helping financial institutions cost-effectively increase their agricultural loan portfolios.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Agriculture accounts for more than 30% of the continent's GDP and employs more than 60% of its working population. I believe that the agricultural sector may be the most important one in Africa, which is why many financial solutions saw the light in order to help farmers. Farmdrive is one of these solutions.
mehdibella

Turo partners with Kiva to launch a novel initiative to help close the racial wealth gap - 0 views

www.prnewswire.com/...cial-wealth-gap-301174125.html

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • "Our commitment of up to $1 million in funding to address the growing wealth inequality in the United States is not only the right thing to do, but a necessity,"
  • Kiva's crowdfunding platform, Kiva.org, allows individuals to lend as little as $25 to make a difference in someone's life. Kiva Protocol aims to establish financial identity and credit history for unbanked populations using distributed ledger technology (DLT), with its inaugural project currently being implemented in Sierra Leone.
  • Kiva Capital Management is a forthcoming subsidiary of Kiva that will operate as an impact-first asset manager connecting Kiva's network of Field Partners with institutional capital, scaling Kiva's ability to lend to underserved populations around the world.
mehdibella

Kiva's Person-to-Person Claim Questioned | News | PND - 0 views

philanthropynewsdigest.org/...son-to-person-claim-questioned

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Kiva has promoted itself as a link between individual lenders in the developed world and individual borrowers in the developing world, allowing visitors to its Web site to learn about and lend money to people in poor nations seeking small loans for specific purposes.
  • the loans made by individual lenders through the Kiva site do not actually end up in the pockets of individual borrowers. Instead, those loans are aggregated and used to backstop microfinance institutions that have already paid out microloans to the borrowers featured on the site.
  • Kiva president Premal Shah said he could foresee a day when Kiva really did provide a direct person-to-person connection, once certain legal hurdles are cleared and as more individuals in the developing world began using mobile phones to access credit and make electronic payments. In the meantime, the organization has changed the wording on its homepage from "Kiva lets you lend to a specific entrepreneur, empowering them to lift themselves out of poverty" to "Kiva connects people through lending to alleviate poverty."
mehdi-ezzaoui

PULA | LinkedIn - 0 views

ch.linkedin.com/...pula-advisors

PULA Service Africa

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • We work across Africa and Asia, and in 2019 alone, we facilitated crop and livestock insurance cover to 1.1mln farmers and have offered our products in 11 markets from Senegal, Mali, Nigeria, Ethiopia, Kenya, Rwanda, Uganda, Tanzania, Malawi, Zambia, and Mozambique. Since starting in 2015 our products have reached over 3.4mln households. Our Founders work in insurance has been recognized by several international awards including the Financial Times/IFC Award for Sustainable Finance, the Singapore Fintech Festival, Womens World Banking, Credit Suisse, and InsureTech3.0.
  • mehdi-ezzaoui on 13 Feb 21
     
    pula profile on linked in
ayachehbouni

SimbaPay Launches International Access to Kenya's M-Pesa PayBill - Techpoint Africa - 0 views

techpoint.africa/...ccess-to-kenyas-m-pesa-paybill

shared by ayachehbouni on 13 Feb 21 - No Cached
  • Kenyans living abroad. will now be able to use their bank accounts, debit or credit cards, to pay their bills back home using the SimbaPay app. The service is piloting in the UK, with further expansion into other EU regions in the works.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      What this partnership propose is not only perfect for existing customers but it is also very attractive to new potential customers.
nourserghini

US FinTech Will Expand Cryptocurrency Use Case, But Unknowns Remain - 0 views

www.fitchratings.com/...but-unknowns-remain-12-02-2021

Fintech Strategy Technology

shared by nourserghini on 13 Feb 21 - No Cached
  • FinTech companies such as PayPal, Visa, Square, Mastercard and others are expanding cryptocurrency (crypto) and blockchain capabilities but several factors could limit widespread acceptance in the near term, says Fitch Ratings. We expect strategic crypto investments to have a limited near-term effect on credit profiles, given modest capital deployed and the long ramp time. However, adding crypto capabilities opens up incremental revenue streams for these companies, even if the return on investment over time and compliance risks are uncertain.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Exactly like mobile money started a revolution in the African financial environment since the early 2000s, fintechs have to race for the first place in expanding cryptocurrency and blockchain abilities in the coming years. Especially considering the fact that Africa is already getting more familiar with cryptocurrency services.
mbellakbail69

JUMO breaks the US$2.5B disbursement mark in Africa and Asia - JUMO - 0 views

www.jumo.world/...sement-mark-in-africa-and-asia

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • This milestone has been reached just over 18 months after crossing the US$1B mark in 2019, and indicates exponential growth in the access to and availability of working capital for customers, with an average customer default rate of less than 5%. Andrew Watkins-Ball, Founder & Group CEO, said this achievement is evidence of the success of JUMO’s unique business model, its ability to reach unbanked populations and to provide market-leading infrastructure for financial services.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      JUMO partners with funders, banks and telecommunications companies to power a new generation of financial tools. The company was founded in London in 2015 and uses mobile wallet technology with data-driven credit prediction models to provide digital financial services infrastructure to partners, and products at scale to customers in emerging markets.
mbellakbail69

Digitising Traditional Money Circles: An Interview with MoneyFellows CEO Ahmed Wadi - 0 views

thestartupscene.me/...th-MoneyFellows-CEO-Ahmed-Wadi

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • The MoneyFellows app is pretty simple. You create a profile and go through an onboarding process, which includes a financial assessment which determines each user’s maximum limit of money circle they can join. From there, each user can browse the available money circles by searching and filtering by monthly payment, total cash-out and the cash-out schedule most suitable to them. Once you’ve joined a money circle - and that money circle is complete - there are several ways to both send and receive money, including bank transfers, credit card payments, mobile wallets and Fawry. Some corporate companies have also signed up with MoneyFellows, allowing their employees to have their money circle dues directly taken from their salaries.
mbellakbail69

Exclusive: Egypt's MoneyFellows raises over $1 million in a bridge round to digitize mo... - 0 views

www.menabytes.com/moneyfellows-1-million

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • With steady growth in our user base, we have been working hard over the past year in order to optimize and perfect our product and are now ready to begin our scaling journey. We will dedicate the money from this bridge round to raise greater awareness for MoneyFellows, in order to allow a much greater number of users to access our application and meet their saving and financial needs
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Moneyfellows is still growing and developing and thanks to the many investments it receives and its many ideas that attract even more investors, the company in my opinion can expect to become one of the greatest Fintech companies.
  • MoneyFellows with its group pooling platform for credit and savings is digitizing the entire process of money circles with a scoring model that compliments current offline model, making it more scalable, safe and efficient.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      The startup also has secured corporate deals with different companies in Egypt in order to facilitate participation of their employees in money circles.
mbellakbail69

FinTech for All: Moneyfellows founder on helping friends and family to save or borrow i... - 0 views

medium.com/...r-borrow-in-egypt-228e5a98c356

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Unique challenges are mainly regulations for Fintech companies usually being a grey area, without enough clarity on what exactly they might fall under.With lack of enough funds and diversity, fundraising is also another challenge for most of the startups in the MENA region.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Fundraising is a priority for start-ups and companies in the MENA region as it is thanks to it that the companies can grow and work at full potential
  • Tackling these challenges, the EFSE Fund and the SANAD Fund for MSME, advised by Finance in Motion, have partnered with Village Capital and the LHoFT to develop the Fincluders Bootcamp 2017, unique investment readiness program designed for entrepreneurs offering inclusive financial products.
  • ‘Financial Inclusion’ might be the most noble sector of financial technology, solving problems the traditional finance industry won’t — servicing underbanked demographics in areas with poor financial infrastructure.
  • ...1 more annotation...
  • In my opinion, Financial inclusion isn’t just about opening a bank for those that are unbanked, but rather being able to offer them actual financial services like lending, savings and improving their credit scoring (which is the building block for all financial services), helping them improve their actual living standards, eventually.
kaoutarchennoufi

Instant Mobile Loans in Kenya, KCB M-PESA Account, M-Shwari - Safaricom - 0 views

www.safaricom.co.ke/...loans-and-savings

Paperless Efficient TimeSaving M-Shwari

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • M-Shwari is a paperless banking service offered through M-PESA. It will: Enable you open and operate an M-Shwari bank account through your mobile phone, via M-PESA, without having to visit banks or fill out any forms. Provide you the ability to move money in and out of your M-Shwari savings account to your M-PESA account at no charge. Give you an opportunity to save as little as KSHs.1 and earn interest of up to 6.65% p.a on your saving balance. This cash is moved into the savings account via M-PESA. Enable you to access micro credit product (loan) of a minimum of KSHs.100 any time and receive your loan instantly on your M-PESA account charged at a facility fee of 7.5% Save for a fixed period of time (Lock Savings Account) and earn interest of up to 70% of the Central bank Rate. This is a product for everyone who feels that banking should be hassle-free. No forms to fill in, no branches to visit. Just one click on your phone and you have a savings account!
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-pesa has also a paperless banking service option named M-Shwari. This is avery useful and time saving solution. The majority of people don't appreciate to go to the banks and have to wait for many hours for a simple service.
kaoutarchennoufi

Conflict zones | Kiva - 0 views

www.kiva.org/...conflict-zones

Unbanked UnstablePlaces 61Loans

shared by kaoutarchennoufi on 12 Feb 21 - No Cached
  • Support small business owners in regions affected by violence or instability, where credit is often very difficult to access.
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      Kiva is also helping unbanked people who are living in violent and instable places to reach out financial services. Many organizations tried and did not managed to reach those places and provide the necessary financial aid to people living there. However, Kiva has succeeded to provide 61 loans to different groups and individual which is very impressive.
mehdibella

"WatchIT" Provides its Services Electronically through "FawryPay" - Fawry - 0 views

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry has signed up an agreement with Watch IT in order to expand the Fintech network and encourage online payment in Egypt. Therefore, I believe that this partnership will enable both businesses to reach more customers, increase productivity, and therefore increase profits.
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • ...2 more annotations...
  • Mohamed Okasha, Managing Director of Fawry, said that the partnership with WATCH iT! is the result of a joint cooperation to provide outstanding services to customers, highlighting that “Fawry Pay” payment methods include payment either cash through any of Fawry outlets or online using credit cards (MizaCard, MasterCard and Visa) in addition to bank channels linked to Fawry’s network (ATM, Internet banking, mobile wallets) and also through “myFawry” application available for smart phones.
  • “Fawry Pay” platform provided by Fawry for the online shopping sector, offers customers different payment methods and various e- services. Over one million and 100,000 transactions were made on “Fawry Pay” platform during this year till the end of August 2019 for more than 280 e-merchants dealing with the service.
kaoutarchennoufi

Okoa Stima, Kopa Stima, Safaricom Okoa Stima Service - Safaricom - 0 views

www.safaricom.co.ke/...okoa-stima

Loans Electricity OkoaStima

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • You can now get electricity when you need it then later pay later! Okoa Stima allows you to borrow any amount based on your pre-determined credit limit. This limit is based on your historical relationship with Kenya Power. The loan comes at a facility fee of 10% and is payable in 7 days. Your M-PESA account will be deducted with amount of top plus facility fee so there is no delay. You will be able to register up to 3 meters and tokens purchased/Bill paid cannot be used on another meter except the 3 you have registered. To take advantage of this great service just dial *885# from your mobile phone.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      This is the first time I realize that there are such favourable and valuable facilities in Africa. Okoa Stima has allowed kenyans to borrow a speciafic amount to pay their electricity Bill and then repay it in 7 days. The amount is taken from one's M-Pesa account. I hope that there will be more similar solutions in Africa.
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