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mehdibella

Kenyan agri-tech startup FarmDrive secures latest funding round - 0 views

  • Kenyan agri-tech startup FarmDrive has accessed further financing as it expands operations to provide access to credit for three million smallholder farmers.
    • tahaemsd
       
      the investment from strategic investors enabled farmdrive to build financial identities for more smallholder businesses
  • Founded by Peris Bosire and Rita Kimani, FarmDrive delivers productive digital loans and lay away savings products to smallholder farmers in Kenya, helping them grow their incomes and resilience.
  • Having previously raised funding from the likes of Safaricom and EWB Canada, FarmDrive has now secured further investment. EWB Canada is again involved in the round, which also includes AK Impact Investors, 1 to 4 Foundation, ADAP Seed Fund 2, The Lakes Charitable Foundation and Sunu Capital.
    • mehdibella
       
      The follow-on investment will allow FarmDrive to scale to US$13 million of loan, with minimal losses and exceptional returns
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  • Using a combination of agriculturally relevant data, Know Your Customer (KYC) data, and advanced behavioral analytics, the startup has developed a proprietary lending engine to extend loans to these farmers.
    • kenza_abdelhaq
       
      The relevant financial technologies behind FarmDrive.
  • The follow-on investment will allow FarmDrive to scale to US$13 million of loan originations in 2019 with minimal losses and exceptional returns using RiPe, a customisable lending engine that will allow lenders to plug in and access low-cost loan origination channels such as USSD, credit scoring, identity verification, and a portfolio management suite that includes recovery and collections, payments, customer support and advanced real time data analytics.
    • kenza_abdelhaq
       
      FarmDrive is providing a range of services while focusing on its low-cost approach and maximizing its profit.
  • “We are delighted for this investment from strategic investors to enable us to build financial identities for more smallholder businesses and scale our low cost distribution model. We are going where banks haven’t reached and are creating a trust ecosystem in the most unstructured sector in sub Saharan Africa – Agriculture,” said Bosire.
    • hibaerrai
       
      FarmDrive agritech has the potential to take over the banking system in sub saharan Africa as it provides more structured services.
  • Kenyan agri-tech startup FarmDrive has accessed further financing as it expands operations to provide access to credit for three million smallholder farmers.
    • ayachehbouni
       
      As I see it, Farmdrive needs and deserves all the financing it can get as it is creating a trust ecosystem in the most unstructured sector in sub Saharan Africa, which makes its operations extremely important.
hibaerrai

RegTech Definition - 0 views

  • Regtech is the management of regulatory processes within the financial industry through technology. The main functions of regtech include regulatory monitoring, reporting, and compliance. Regtech, or RegTech, consists of a group of companies that use cloud computing technology through software-as-a-service (SaaS) to help businesses comply with regulations efficiently and less expensively. Regtech is also known as regulatory technology. Financial institutions and regulators both use Regtech to deal with complicated compliance processes.
    • hibaerrai
       
      Employing regtech strategy to monitor, regulate and comply all fintech related processes and activities .
hibaerrai

Fintech, distributed-ledger technology and the token economy | Internal Market, Industr... - 0 views

  • Distributed-ledger technology (DLT) enables safer, faster and cheaper transactions in an ever-increasing number of sectors. The Commission considers DLT as a breakthrough technology that is key for the EU's competitiveness.
    • hibaerrai
       
      Distributed ledger technology can be a very efficient strategy in fintechs because it is time saving, safe and cheaper than other strategies.
mbellakbail69

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

  • 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
       
      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.
mehdi-ezzaoui

The Most Effective Marketing Strategy Used by FinTech Companies - 0 views

  • PROMOTE Find the most effective channel for your niche In consideration of some financial constraints, fintech companies must distribute their content in the channel where they’ll reach their target audience – and this may not necessarily be the most popular channel. For example, Facebook may have 2.3 billion active users but most of your customers might be a certain type of professional who mostly hang out on LinkedIn, then that may be the best channel for you. Some fintech companies find traction in Reddit, while others are big on Telegram. Find an online space where most of your customers go to seek solutions and tailor your content to reach them.
    • hichamachir
       
      Pula operates in a niche market. I suggest that Pula creates a platform where it customers can share their experiences or suggestions.
  • A study shows that 80% of decision makers prefer to gather information about a company via articles than make their purchase decisions based on advertisement and marketing materials. It’s clear. The most effective marketing strategy used by fintech companies is content marketing. By allocating significant efforts in creating, publishing and distributing digital content tailored to a specific market or audience, customers, as well as bottom line, are served well.
    • sawsanenn
       
      Because when a want to do a research about a company he doesn't focus on marketing materials mainly because they are not used to it or because there some internet adverts that are not reliable. That s why as a fintech company they really should put an effort into the design and plan a marketing strategy
  • Most fintech companies get the biggest bunch of their sales from the internet. This is because the first thing people do when they need to find out more information about a finance product or service is to search for solution providers online. For this reason, every fintech company needs to have a robust online presence. When buyers start researching, their first aim is to gather information. They don’t necessarily focus on your marketing materials because there are lots of adverts on the internet, which aren’t always reliable
    • ghtazi
       
      Many fintech firms get the largest amount of their income from the internet. This is because looking for solution providers online is the first thing individuals do when they need to find out more detail about a financial product or service. Every fintech business needs to have a robust online presence for this purpose. When buyers start investigating, their first objective is to collect data. Since there are tons of ads on the internet, they don't always rely on your publicity materials, which are not always accurate.
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  • A study shows that 80% of decision makers prefer to gather information about a company via articles than make their purchase decisions based on advertisement and marketing materials.
  •  
    effective strategies used by fintech companies could be helpful
omarlahmidi

Enriching nutritive value of cassava root by yeast fermentation - 0 views

  • Cassava (Manihot esculenta, Crantz) is extensively cultivated throughout the tropics and subtropics regions due to its ability to grow in diverse soil conditions and minimal management (Wanapat, 2003; Wanapat et al. 2006; Wanapat & Khampa, 2007). The root is composed almost entirely of carbohydrate which can be used as important food source. However, it contains cyanogens (1- 3% CP) depending on cultivars (Stupak et al., 2006) and large amount of cyanogenic glucosides in the cassava flour (Cumbana et al., 2007) which could limit cassava root utilization for consumption and for livestock feeding. The laminarin and lotaustralin cassava's cyanogenic compounds are changed to hydrocyanic acid (HCN) by the action of the laminarase enzyme when roots are crushed or sliced (Wanapat et al., 1999; Cardoso et al., 2005).
    • omarlahmidi
       
      Belcash International is a Netherland based company which provides its Digital Business Technology Platforms to businesses. Its core business is in the designing of automated solutions to Mobile and Agent Banking service providers and it is mainly offered to financial institutions.
aymanelmamoun

Germany's GreenTec Capital invests in Kenyan start-up Bismart - Capital Business - 0 views

  • Bismart was awarded seed capital of Sh1 million in April 2018 by Standard chartered Women in Tech programmed and office space for nine months at IBIZ Africa incubator, as the most innovative and scalable business model in Kenya.
    • aymanelmamoun
       
      Bismart awarded the most innovative business model in Kenya.
  • NAIROBI, Kenya, Jul 9- GreenTec Capital, a German investment boutique focused on African start-ups, has entered into an investment agreement with Bismart, a Kenyan start-up insurance aggregator leveraging on digital platforms and technologies to educate and advice customers on the best insurance and investment solutions available in the Kenya market.
    • ayachehbouni
       
      This investment will allow bismart to benefit from greentec's experience and expertise in funding start-ups in Africa in order to accomplish its vision which is to enable customers to access insurance and investment services in a transparent, convenient, and friendly manner.
kaoutarchennoufi

Leadership | Kiva - 0 views

  • Jason has over 20 years of executive product and general management experience helping early-stage and growth-stage companies build and deliver innovative products and experiences. Prior to Kiva, Jason spent 7 years at Minted. There, he led the Product Management and Design teams after running Growth, Digital Products, and Customer Operations. He began his career at Yodlee where he eventually led global engineering and custom products, then moved on to establish and lead the product teams at Lift Media and Extole.
  • Neville Crawley, Chief Executive Officer, Kiva Neville joined Kiva as CEO in the fall of 2017. He brings nearly 2 decades of experience leading global business and technology ventures, most recently as the CEO of Quid, a platform that analyzes the world's collective intelligence to help answer strategic questions. During Neville’s career he has worked in China, Nigeria, Brazil, Malaysia and across the Middle East, including 4 years working for McKinsey & Company and as the publisher of China Economic Review. Board member since 2017
    • kaoutarchennoufi
       
      It is clear the Kiva considers human resources as the pillars of the day to day operations. For this reason, it choses very qualified and experienced human energies in different fields and therefore who will help it achieve its organizational goals.
aymanelmamoun

Kenyan insure-tech company Bismart unveils e-commerce platform | AFRICA INC. MAGAZINE - 0 views

  • Bismart, a Kenyan insure-tech company has unveiled an online e-commerce platform that will enable insurance companies, brokers and agents to connect with their customer’s end- to- end. Known as Pamsmart, the cloud-based platform will allow different players to create products relevant to specific target group and businesses.
    • aymanelmamoun
       
      The platform also easily integrates with existing insurance digital platforms and eliminates the need for cumbersome insurance paperwork.
mehdibella

The Financial Regulatory Authority agrees on delivering "Qershak el Abyad" insurance po... - 0 views

  • Fawry Insurance Brokerage partners with AIG Egypt Insurance Company to launch the digital insurance policy “Qershak el Abyad” through 166,500 Fawry outlets and e-wallets, allowing the insurance policy for more than 30 million Egyptian Fawry users throughout Egypt. The policy provides 75k EGP insurance coverage upon accidents of the candidate, with a monthly premium starting at 10 EGP.
    • kaoutarchennoufi
       
      Another remarkable feature in Fawry cooperate, is that it provide insurance coverage along with other services. It allows more than 30 Million Egyptian to benefit from an insurance policy with a reasonable monthly premium. I really appreciated the fact that in case of accidents, Fawry help the beneficiaries to cover their children's education expenses upon death or total disability as well as recovery expenses.It is a very thoughtful initiative.
  • The Financial Regulatory Authority agrees on delivering "Qershak el Abyad" insurance policy through e-channels - Fawry
  • “Fawry Insurance Brokerage, a subsidiary of Fawry, will play a genuine role in marketing and selling the insurance policies of “Qershak el Abyad” program to millions of Egyptians and payments will be available through more than 166,500 Fawry machines and through e-wallets, so that customers will receive their policies electronically on mobile phones easily, this in cooperation with AIG Egypt Insurance Company, in a step that enhances financial inclusion in Egypt according to the plans and directives of the Egyptian government.”
kenza_abdelhaq

Egyptian fintech in 2020: A tale of crosswinds and tailwinds [Part One] - Wamda - 0 views

  • Fortunately, Egypt’s first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations – an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  
    • kenza_abdelhaq
       
      Egypt managed to have a positive GDP growth in 2020 even though the pandemic impacted negatively more than 80% of the startups.
  • If we look back on 2020, the largest funding rounds for Egyptian startups were not in fintech but healthcare and transport, with Vezeeta raising more than $40 million and Swvl more than $20 million. Yet, fintech still managed to make headlines on several occasions, including new regulations, high profile investment rounds and exciting launches. It was an eventful and exhilarating year for the fintech ecosystem in Egypt.
    • kenza_abdelhaq
       
      Even though more importance was given to healthcare and transport with regard to the largest funding rounds, fintech was still getting a lot of attention (making headlines, new regulations, etc).
  • Fawry’s success story has undoubtedly encouraged investments in other e-payments venture that will help dynamise this space in coming years. The industry is still massively underpenetrated as cash remains king but will remain as one of the more active areas within fintech in coming years.
    • kenza_abdelhaq
       
      Fawry being the leader of digital payments in Egypt definitely helped encourage investments in this field/industry.
  •  
    "Fortunately, Egypt's first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations - an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  "
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