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mohammed_ab

Crowdsourcing student loans: Student financing in Kenya with Kiva and Strathmore Univer... - 1 views

resources.norrag.org/...kiva-and-strathmore-university

Kiva Crowdfunding Entrepreneurs Microfinance

shared by mohammed_ab on 12 Feb 21 - No Cached
  • n 2012, the micro-lending institute Kiva partnered with Kenya’s Strathmore University to offer tuition loans to low-income students. The loans were crowdfunded by Kiva and distributed by Strathmore University, who selected applicants based on the criteria of having high academic performance and coming from a low-income household, among other requirements. From 2012 to 2018, Kiva fundraised USD 762,675, which was distributed to 84 students who received an average loan of USD 9,004. The program ended in 2018 because the delinquency rate had risen to 14.65%, with many students being unable to pay back their loan owing to scarce job opportunities after graduation (Kiva, 2018).
    • hichamachir
      hichamachir on 12 Feb 21
       
      Kiva is treating a very important point in the society. It's to facilitate students loans. I think that kiva is playing it smart at this point because as we know students loans can be expensive to get and kiva found a solution for which can make the company very successful.
  • In 2012, the micro-lending institute Kiva partnered with Kenya’s Strathmore University to offer tuition loans to low-income students. The loans were crowdfunded by Kiva and distributed by Strathmore University, who selected applicants based on the criteria of having high academic performance and coming from a low-income household, among other requirements. From 2012 to 2018, Kiva fundraised USD 762,675, which was distributed to 84 students who received an average loan of USD 9,004
  • mohammed_ab on 13 Feb 21
     
    I think that Kiva is a platform that could benefit different market segments. Their main value proposition is to help entrepreneurs find funds for their business. However, as it can be seen in this article, Kiva could also serve students who have difficulties in financing their studies. I think that this is the power of crowdfunding, It can be used in many areas of life.
hibaerrai

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

ec.europa.eu/...fintech_en

Fintech Strategy Distributed Ledger technology Digital

shared by hibaerrai on 13 Feb 21 - No Cached
  • 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
      hibaerrai on 13 Feb 21
       
      Distributed ledger technology can be a very efficient strategy in fintechs because it is time saving, safe and cheaper than other strategies.
mbellakbail69

South African fintech JUMO scooped up $55 million in funding - 0 views

www.businessinsider.com/d-55-million-in-funding-2020-2

shared by mbellakbail69 on 09 Feb 21 - No Cached
  • JUMO offers a wide range of services to users in emerging markets via partnerships with other financial institutions
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo delivers services to third parties in emerging markets using partnership with other financial institutions.
  • JUMO offers financial services infrastructure to third parties and has served over 15 million customers across countries, including Ghana, Kenya, Pakistan, and Tanzania, and it plans to use the fresh capital to launch new products and expand into new markets: It's set to launch in Bangladesh, India, Côte d'Ivoire, and Nigeria soon, per its website.
    • nourserghini
      nourserghini on 09 Feb 21
       
      The article shows that Jumo specializes in financial services infrastructure to third parties. It operates in African countries such as Ghana, Kenya and Tanzania.
  • South African fintech JUMO scooped up $55 million in funding
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo's original location is in South Africa.
  • ...8 more annotations...
  • And while JUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products, like loan products, to better close the financial inclusion gap in these regions.
  • JUMO's partners include Telenor and Telenor Microfinance Bank, with which it launched its first commercial product in Asia in 2018, and Tigo, Airtel, and MTN with which it offers short-term loans in Kenya, Zambia, and Uganda. With help of the latest funding, JUMO will be able to further boost such partnerships, and become a more dominant player in the financial services industries in emerging markets.
    • mehdibella
      mehdibella on 13 Feb 21
       
      jUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products
  • JUMO offers this technology stack to partners, including telecommunication firms and other financial institutions, to power their financial products and serve consumers via their respective platforms.
  • The fintech's technology stack includes a lending product that gives entrepreneurs quick access to funds or asset finance, and JUMO has so far disbursed over $1.8 billion in loans. It also provides savings options to clients, including short-term, structure, and long-term products, and works together with underwriters and insurers to create standalone insurance products to "safeguard incomes, families, assets, and businesses".
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO has already distributed 1.8 billion USD loans, it gives also the possibility to its users to have savings options to clients, including short term, structure, and long-term products. The company also ensures the creation of standalone insurance products.
  • JUMO's debt and equity round included participation from both new and existing investors, like Goldman Sachs, Odey Asset Management, and Leapfrog Investments, per TechStartups.com.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the nature of funding that Jumo secures whether through debt or equity; new or existing investors.
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because first it clearly states the business model of Jumo. Then, it discusses the possibilities of (geographical) expansion and diversification of offerings (more consumer products, loan options, bank accounts etc).
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt included the services that jumo offers, the business model, and some recommendation that the company should consider improving the platform
  • Additionally, only 27% of the population in Southeast Asia has a bank account, leaving a financial inclusion gap of around 438 million consumers. And we've seen fintechs that aim to close this gap attract significant investor interest in the past year: Investment in African fintechs increased by 155% from $111 million in 2018, to $283 million, while Southeast Asian fintechs saw funding surge of 69% from $588 million to $993 million over the same period, per CB Insights.
kenzabenessalah

Lumkani - 0 views

lumkani.com

Lumkani Protection Fire Alarm

shared by kenzabenessalah on 07 Feb 21 - No Cached
  • As part of Lumkani’s mission to mitigate the loss of life and property caused by fires in South Africa and across the globe, we implement large scale roll-outs of our fire detection system into urban informal settlements and townships.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      Before Lumkani was introduced, there was very little hope for people to rebuild their houses when fire erupted. Making this business known could help save plenty of lives.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Before Lumkani was introduced, there was very little hope for people to rebuild their houses when fire erupted. Making this business known could help save plenty of lives.
  • Before Lumkani introduced Fire Cover in 2016, there was little hope for households and businesses that had been excluded from insurance cover, to quickly rebuild, refurnish and return to a state of dignity.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      This excerpt is important because it highlights how beneficial and essential the concept of the company is. It helped protect people's homes and reassure them that their households would return to their original state.
  • For only R60 per month, you get: A Lumkani Fire Alarm that warns you when fire breaks out. Cover for your home or business structure and all of your belongings/stock for up to R40,000 provided by Hollard. There is no waiting period, you are protected immediately after your first payment.Foreign Nationals may apply.No documentation required to apply..properties we protect: Informal homes Small homes and low-cost homes (RDPs) Small businesses
    • tahaemsd
      tahaemsd on 07 Feb 21
       
      Details of what is covered by the LUMKANI company
  • ...2 more annotations...
  • Lumkani is a technology company which distributes insurance products to financially excluded households and businesses in townships and informal settlements. We use our award-winning fire detectors to mitigate the risk of fires and a world-first insurance product to cover losses when disasters occur. We have distributed tens of thousands of fire alarms to homes across South Africa which have drastically lowered the instances of fires in our communities, ensuring that those who are most vulnerable have a sense of security. Tens of millions of Rands of possible fire damage have been saved through our early-warning fire detectors.
    • aminej
      aminej on 11 Feb 21
       
      I think that this is an excellent idea since it will help many people in rural areas who very often suffer from losses due to weather or natural disasters and also a very weak infrastructure. It will also bring more unbanked people to learn about different services of insurance and finance.
  • Fires destroy homes, belongings and businesses which leads to personal and financial insecurity. We provide protection against fires to informal homes, small homes, RDPs and small businesses
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Having such a concept is essential to the community because it deals with one of most popular issues in the world; financial insecurity
  • hibaerrai on 08 Feb 21
     
    LUMKANI launched indeed a networked heat detector to protect people's properties.
kenza_abdelhaq

M-Pesa: A Case Study in Financial Inclusion | by Matt ฿ | ChainRift Research ... - 0 views

medium.com/...nancial-inclusion-5b14cb7c612f

M-Pesa Kenya Payments Service

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • M-Pesa was launched in 2007, and it’s still going strong. The concept of a phone-based money transfer service originated back in 2002, when researchers realized the popularity of the market for phone airtime — individuals in a handful of African nations often transferred it to friends and family for subsequent use or resale.
  • Their analysis found that, as a result of M-Pesa’s proliferation, 2% of Kenya’s households had been lifted out of poverty. Moreover, the study established (due to the lack of hard cash in said households) that money was better managed and less prone to being allocated to unimportant endeavors (I feel there’s a loose parallel to be drawn to the HODL/long time preference mentality here).
  • When M-Pesa (launched by Safaricom) made its debut a few years later, it had initially been conceived as a solution for microfinancing — allowing institutions to distribute and collect loan payments without the hassle of cash. However, during this pilot, its widespread adoption in a myriad of alternative use cases caused the company to reconsider and relaunch with a focus on ensuring individuals could send money to their families and execute payments.
  • ...3 more annotations...
  • Whilst things like Apple Pay and Google Pay leverage some interesting technologies, they still rely on the participant being ‘banked’ in the first place. That, and they’re about ten years too late to the party.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Unlike Apple pay and Google Pay, M-Pesa does not need its customers or users to have a bank account.
  • Clearly, there are benefits to virtual currency that physical fiat can’t mirror. Beyond convenience and security (no need to carry cash), the M-Pesa offering allows for remittance across long distances cheaply and without a bank account.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      In addition to being convenient and secure, M-Pesa provides easy solutions for remittance or money transfer across long distances with low cost.
  • M-Pesa has proven that relatively low-tech ‘dumb phones’ can be transformed into tools for better wealth control. The leap from virtual money to cryptocurrency isn’t a massive leap from there. Indeed, tools such as BitSIM (development appears to be stalling, though the concept is simple; overlaying a SIM card with a small sticker so that even archaic phone models can transact in BTC), Samourai’s PonyDirect and CoinText (currently aimed at Bitcoin Cash) facilitate entry into the Bitcoin ecosystem with cellphones.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      M-Pesa is setting the example in how regular phones can be used for virtual money transfer and how this could incorporate in the same sense cryptocurrencies.
  • chaimaa-rachid on 12 Feb 21
     
    The organization becomes exceptionally well known among the low-income local area. It furnished people with a simple solution to send money from any location.
  • mohammed_ab on 12 Feb 21
     
    It's quite fascinating to see that 2% of Kenyan households were lifted out of poverty just because they start using M-Pesa services. I think that M-Pesa has some great potential in dealing with poverty as people get to manage their money more efficiently when they use mobile money.
  • hindelquarrouti on 13 Feb 21
     
    M-pesa was launched in 2007 and it is based on the concept of phone based money. It was established for the main purpose of allowing institutions to distribute and collect loan payments without having to deal with actual cash, yet they were smart and made it a company that has the main goal of giving people the opportunity of making payments and send money.
tahaemsd

Lumkani: The little blue box that saves lives - CNN - 0 views

edition.cnn.com/...index.html

FinTech Africa Service modernization protection

shared by tahaemsd on 13 Feb 21 - No Cached
  • Funded through a government innovation agency and a successful crowdsourcing campaign, the start-up has also won several awards and grants, including best start-up in 2014's Global Innovation through Science & Technology competition.Last year, it was chosen by the International Red Cross as a provider for its Fire Sensors initiative, a project that has distributed 900 of the devices along with extensive market research.Julie Arrighi, Innovation Advisor at the American Red Cross, said that using networked heat sensors like Lumkani is crucial to mitigating the growing risk of slum fires around the world.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani's technology prevented many disasters and was successful at raising funds through government innovation agency and crowdsourcing campaign. The innovative aspect and importance of the technology received many recognitions and awards.
  • Lumkani devices are networked to each other using radio frequency, the same technology used in garage remotes. When a fire is detected, the alarm sounds in all homes within a 40 meter radius, using a different tone to signify to users when the blaze is in a separate dwelling.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Technology used by Lumkani, the same used in garage remotes.
  • kenza_abdelhaq on 13 Feb 21
     
    "Funded through a government innovation agency and a successful crowdsourcing campaign, the start-up has also won several awards and grants, including best start-up in 2014's Global Innovation through Science & Technology competition. Last year, it was chosen by the International Red Cross as a provider for its Fire Sensors initiative, a project that has distributed 900 of the devices along with extensive market research. Julie Arrighi, Innovation Advisor at the American Red Cross, said that using networked heat sensors like Lumkani is crucial to mitigating the growing risk of slum fires around the world."
hibaerrai

Blockchain Beyond Bitcoin: Transforming FinTech, Healthcare, And More - 0 views

www.forbes.com/...ng-fintech-healthcare-and-more

Fintech Strategy Blockchain Digital Regulations

shared by hibaerrai on 13 Feb 21 - No Cached
  • The goal of blockchain is to digitally record information to be distributed but not tampered with. It is an open, decentralized ledger that records transactions and entries that are confirmed by peer-to-peer networks and encrypted. The data is stored into a “block,” or a fixed event that has been approved and locked into place. Each block is then added to the “chain” of events, leading to the methodology’s moniker. Each record is easily verifiable and incorruptible. The network cannot be influenced by a single party nor taken down because it exists in multiple distributed places.  
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      The use of blockchain strategy in fintech will make the processes more controlled, secure and efficient
mehdibella

AgroCenta: Digital food distribution platform creating shared value for businesses and ... - 2 views

agrocenta.com/about

Fintech Agrocenta ghana

shared by mehdibella on 07 Feb 21 - No Cached
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics. LendIt, our financial inclusion platform enables farmers access digital services such mobile money payments for commodities sold, micro-lending/input financing, crop insurance and pension scheme for the informal sector.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This excerpt is important because it highlights how AgroCenta solves two persistent problems in the Ghanian agricultural value chain. First, agricultural supply chain management is ensured through the Cropchain platform. Second, the financial inclusion mission of the company is ensured by the LendIt platform.
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics. LendIt, our financial inclusion platform enables farmers access digital services such mobile money payments for commodities sold, micro-lending/input financing, crop insurance and pension scheme for the informal sector.
    • aminej
      aminej on 08 Feb 21
       
      This article shows that AgroCenta is built around an online trading platform which connects smallholder farmers to a larger structured market. It was founded by two ex-esoko employees Francis Obirikorang and Michael K. Ocansey in 2015. It is located in Ghana and more precisely in the capital which is Accra. The service is used through a smartphone so the main target customer here will be small holder farmers who have a phone.
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities. 2 Facilitating trade deals on behalf of Smallholder farmers. Agents deal with buyers who wish to purchase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily. 3 Gathering market information and statistical data. Agents are assigned to major trading markets across the country to collate data on market pricing for various commodities. This information is relayed to smallholder farmers via Voice technologies in languages they read and understand.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      This excerpt is important because it shows how Agrocenta's agents help smallholder farmers, what are the responsibilities they have towards their customers. Plus, it encourage other farmers to join the digitalization world to improve their businesses.
  • ...6 more annotations...
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities. 2 Facilitating trade deals on behalf of Smallholder farmers. Agents deal with buyers who wish to purchase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily. 3 Gathering market information and statistical data. Agents are assigned to major trading markets across the country to collate data on market pricing for various commodities. This information is relayed to smallholder farmers via Voice technologies in languages they read and understand.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      This excerpt is important because it shows how the Agrocent'as agents help the smallholders' farmers access different financial services, plus it encourages the other farmers to join the digitalization world and develop their businesses
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics.
    • mehdibella
      mehdibella on 13 Feb 21
       
      this section shows how much Agrocenta is dealing with its supply chain management to allow farmers benefit from different schemes
  • AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities.
    • mehdibella
      mehdibella on 13 Feb 21
       
      AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
  • ase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily.
  • AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
    • ghtazi
      ghtazi on 13 Feb 21
       
      this part is important because we can see how devoted and dedicated is agrocenta when it comes to choosing their team
  • aminej on 08 Feb 21
     
    Some of the advantages that will come with this platform are reducing unemployment and connecting between the lower social class and the high social class in order to develop relations and improve their services. Farmers will gain more profit since it will become more regulated and distribution facilities will be smoother between the two
chaimaa-rachid

MTN pumps millions into MoMo as it nears 2m users in SA | ITWeb - 1 views

www.itweb.co.za/...mYZRXM9alDrMOgA8

MoMo two-million Finetch

shared by chaimaa-rachid on 12 Feb 21 - No Cached
  • According to Kamenga, key success factors of mobile wallets are distribution networks and building an ecosystem around the product to encourage usage and transactions.“These are the areas where the previous deployment was lacking. The new MTN Mobile Money service comes with new innovative features that cater to the current economic landscape and consumer behaviour.
  • The MTN Mobile Money (MoMo) platform is closing in on a total of just over two million users since its relaunch in February.
  • mohammed_ab on 12 Feb 21
     
    This article emphasizes the importance of a good ecosystem and distribution networks for the success of mobile fintech solutions. I liked how the article linked between the telecommunication systems and fintech solutions like MoMo.
  • chaimaa-rachid on 13 Feb 21
     
    The new platform (MoMo) has reached 2 million users as it is easy and secure, with no monthly expenses, you can also use it even if you don't have a bank account.
nouhaila_zaki

M-Pesa - 2 views

www.investopedia.com/...mpesa.asp

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 07 Feb 21 - No Cached
  • One of the drives for Fintech innovations, like M-Pesa, is financial inclusion, which is mostly geared toward an underbanked or unbanked group of people.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      Financial inclusion is a main priority of M-Pesa.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This excerpt is important because it explains how this mobile banking service operates. 1. Payments are made through SMS messages. 2. Cash collected by M-Pesa is deposited in bank accounts held by Safaricom. 3. Phone numbers act as account numbers. 4. M-Pesa provides receipts as proof of transaction.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • ghtazi
      ghtazi on 08 Feb 21
       
      this article shows us how M-Pesa is a virtual system that provides transaction services through a SIM card. 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.
  • ...9 more annotations...
  • A farmer has no bank account and wants to deposit his commodity sale proceeds of 1,000 shillings goes to an M-Pesa outlet and deposits the money with the kiosk agent or attendant. The agent, in turn, uses her phone to access the client’s account with the client’s registered phone number and credit the account for 1,000 shillings.
    • ghtazi
      ghtazi on 08 Feb 21
       
      M-Pesa target customers are anybody who has a phone.
  • M-Pesa is a mobile banking service that allows users to store and transfer money through their mobile phones. M-Pesa was introduced in Kenya as an alternative way for the population of the country to have access to financial services. Safaricom, the largest mobile phone operator in Kenya, launched M-Pesa in 2007. The service is a blend of two entities where M means mobile and Pesa means money or payment in the Swahili language.
  • Financial inclusion is an initiative that seeks to include residents who have no access to banks or who can’t afford the required minimum deposits in the digital banking era. In order for this initiative to succeed, different sectors must collaborate in sharing data with each other and build a meaningful digital platform.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      I like how M-PESA gave opportunities for those who cannot afford to have bank accounts , an alternative to still have access to those services.
  • Through mobile payment services like M-Pesa, the standard of living in Kenya has improved greatly. Market traders, debt collectors, farmers, and cab drivers don’t need to carry around or transact in a large amount of cash. This means that the occurrence of theft, robbery, and fraud is reduced. Also, individuals and business owners don’t have to wait in long lines for hours to make their electricity and water bill payments because these can be made using M-Pesa.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The mobile payment industry was revolutionized by M-Pesa. The value of this business in the financial industry is demonstrated by the fact that the term M-Pesa has a financial significance. I believe that by using digitalisation in a way that can benefit people and solve their problems, M-Pesa has gained its impact.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
    • ghtazi
      ghtazi on 13 Feb 21
       
      to combat fraud they use either a sim card, ID card, or passport. in this way every transaction made will be marked with identifications of the parties transferring money, paying or whatever action it was made.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
  • M-Pesa is one of the innovative tools that have been birthed from the collaboration of telecommunication and banking sectors in East Africa.M-Pesa began in Kenya and is being utilized in 10 countries, including India and Romania. Emergent technology in the financial sector, or Fintech, has made it possible for financial services and products, like M-Pesa, to be more accessible at small costs.M-Pesa makes it possible for unbanked people to pay for and receive goods and services using a mobile phone instead of utilizing a brick-and-mortar bank.
    • nourserghini
      nourserghini on 13 Feb 21
       
      this article explains that M-pesa is a virtual banking platform that gives the opportunity for unbanked or underbanked individuals to conduct transactions through a SIM card.
  • This cross-communication tactic used by M-Pesa is developing rapidly in sub-Saharan Africa, where the telecommunication and banking sectors are working together to create mobile banking services for those with limited access to traditional banking.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Mobile payment is progressively being used in emerging regions in which a large percentage of the population has little or no access to traditional banking such as Africa
  • Mobile money is increasingly being adopted in developing nations where a high percentage of the population has little or no access to traditional banking. Revolutionary services like Paga, MTN Mobile Money, Airtel Money, and Orange Money are disrupting the traditional payment systems used frequently by residents of emerging nations, by changing the economy from a cash society to a digital one.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the increasing importance of mobile money i.e. as proposed by M-Pesa in developing countries.
  • hichamachir on 12 Feb 21
     
    M-Pesa revolutionized the mobile payment industry. The fact that the word M-Pesa got a financial meaning shows the importance of this company in the financial industry. I think that M-Pesa gained its influence by using digitalization in way that can help people and solve their problems.
aymanelmamoun

Kenyan insurtech startup Bismart raises funding from GreenTec - 0 views

disrupt-africa.com/...t-raises-funding-from-greentec

BiSmart E-Payment Africa FinTech

shared by aymanelmamoun on 12 Feb 21 - No Cached
  • Kenyan insurtech startup Bismart has raised an undisclosed amount of funding from the Germany-based GreenTec Capital, which alongside initial investment will allow it to develop its platform and launch its service offerings by the start of Q4.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the interface being developed by te bismart team allowing the distribution of insurance products across africa
  • The startup will initially offer a small range of service and products that will be expanded quickly, with the interface being developed by the Bismart team allowing the distribution of insurance products across Africa, facilitating the rapid roll-out and scaling of the business. Bismart will also use blockchain-based smart contracts in order to facilitate policy management and offer the security of decentralised databases
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      A valuable strategy to attract more customers with different needs.
mehdi-ezzaoui

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

contentcapitalonline.com/tegy-used-by-fintech-companies

Fintech strategies banking

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • 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
      hichamachir on 13 Feb 21
       
      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
      sawsanenn on 13 Feb 21
       
      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
      ghtazi on 13 Feb 21
       
      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.
  • ...1 more annotation...
  • 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.
  • mehdi-ezzaoui on 13 Feb 21
     
    effective strategies used by fintech companies could be helpful
aminej

Average Salary in Ghana 2021 - The Complete Guide - 0 views

www.salaryexplorer.com/salary-survey.php

External Analysis Income Distribution Ghana Salaries Low Threat

shared by aminej on 27 Feb 21 - No Cached
  • A person working in Ghana typically earns around 5,070 GHS per month. Salaries range from 1,280 GHS (lowest average) to 22,600 GHS (highest average, actual maximum salary is higher).
    • aminej
      aminej on 27 Feb 21
       
      Unfortunately, The mean salary in Ghana are really low so it can be considered as a threat for people who would like to use our app but cannot due to low salaries that only permit them to eat and pay their housing.
aminej

Egypt's e-commerce startup Capiter to invest EGP 500 mn in 2021 | Enterprise - 0 views

enterprise.press/...nvest-egp-500-mn-in-2021-23304

Egypt Fintech Service Investment E-commerce Network SMEs

shared by aminej on 12 Feb 21 - No Cached
  • STARTUP WATCH- E-commerce company Capiter plans to invest EGP 500 mn next year to expand its geographical presence and the network of its SME clients, CEO and founding partner Mahmoud Nouh said, according to Al Mal. The Cairo-based company, which was founded in May 2019, operates an app that connects small and medium companies to suppliers.
    • aminej
      aminej on 12 Feb 21
       
      That's a huge investment by the Fintech Capiter in 2021. It will help many entrepreneurs to start their business or improve theirs if they already have one. The relation between companies and suppliers will also improve and distribution facilities will be smoother
nouhaila_zaki

AgroCenta: Digital food distribution platform creating shared value for businesses and ... - 0 views

agrocenta.com/partners

AgroCenta Agricultural Value Chain Partners Investors Ghana

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • The agricultural value chain is huge. We cannot do it all so we have fostered very strategic partnerships with institutions aligned with our values and mission. We are always seeking more of such partnerships and invite you to reach out if interested in working with us.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This article is important because it enumerates AgroCenta's different investors and partners. This is important because it allows us to understand the financing scheme that AgroCenta is having. In addition, it enables us to have an idea about the large scope of the agricultural value chain and which institutions contribute to mitigating the risks and challenges AgroCenta might face as a result of this large supply chain.
hichamachir

Partnership between AIG Egypt and Fawry in Egypt - 1 views

www.atlas-mag.net/...ip-between-aig-egypt-and-fawry

Fawry AIG-Egypt Fintech Insurance

shared by hichamachir on 12 Feb 21 - No Cached
  • AIG Insurance Company has signed an agreement with Fawry, a digital payment platform.The partnership concerns the marketing of "Qershak el Abyad", an electronic policy managed by Fawry Insurance Brokerage.The product will thus be available through Fawry's network of 151 000 sales outlets and numerous distribution channels (banks, telephone operators, etc.) used by more than 30 million consumers.
  • hichamachir on 12 Feb 21
     
    Partnerships are mostly beneficial for Fintech companies because it helps them discover other market segment. I encourage Fawry to look for the best partners that can help improve its business.
hibaerrai

Enterprise Trustees Partners Agrocenta to provide retirement income security for small ... - 0 views

www.myjoyonline.com/urity-for-small-holder-farmers

AgroCenta Agritech Fintech Ghana Africa Loans

shared by hibaerrai on 13 Feb 21 - No Cached
  • Enterprise Trustees Limited has launched a partnership with Agrocenta, a digital food distribution platform, to provide retirement solutions as a value addition to small holder farmers in Afram Plains of Ghana.Under the scheme, farmers will make voluntary personal pension contributions during the harvesting seasons from the sale of their produce to Agrocenta.  The benefits will include lump sum payouts, periodic withdrawals and a life insurance cover.Agrocenta currently works with about 46,000 farmers across several regions in Ghana. These farmers will be assisted by Agrocenta field officers to enroll onto the Pensions Scheme via a USSD shortcode at the community level. 
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      AgroCenta customers will be granted retirement income and will have the peace of mind working and knowing that it is secured.
mohammed_ab

'Smart' insurance helps poor farmers to cut risk | Financial Times - 1 views

www.ft.com/...46-d886-11e8-aa22-36538487e3d0

WorldCover Blockchain CropFarmers Insurance

shared by mohammed_ab on 11 Feb 21 - No Cached
  • The policies or “smart contracts” currently under development are based on blockchain, the distributed ledger technology that underpins cryptocurrencies like bitcoin. This avoids the need for paperwork and means payouts can be triggered automatically when certain conditions are met, such as a specific number of days of drought. The system uses high-resolution satellite images to detect rainfall and plant growth data.Conventional crop insurance is too expensive for more than 500m small farmers worldwide, says Christopher Sheehan, founder and chief executive of US-based WorldCover, which developed the system. “But with machine learning and blockchain technology, we can process these data very cheaply to produce a really simple crop insurance product with premiums of $20 to $50 for a farmer who might only be earning $3,000 a year.” Payments can be made using mobile money transfer services such as M-Pesa.
  • mohammed_ab on 11 Feb 21
     
    I think that this article highlights the main benefits of blockchain technology on the insurance industry. It shows how blockchain has enabled easy and quick transactions to take place in the insurance world especially crop insurance. This technology has enabled companies like WorldCover to offer cheap insurance contracts for crop farmers to help them hedge against weather risks.
sawsanenn

Jumo - LeapFrog Investments - 1 views

leapfroginvest.com/jumo

Financial inclusion FinTech Africa Service Asia

shared by sawsanenn on 12 Feb 21 - No Cached
  • So far JUMO has analysed more than 33 terabytes of data to serve more than nine million customers in seven countries across Africa and Asia, including Tanzania, Kenya, Uganda, Ghana, Zambia and Pakistan.
  • Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • As an investor partner, LeapFrog’s financial services expertise is being used for product design and multi-country rollouts, to turbocharge Jumo’s growth and spur financial inclusion across Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I think that this is a very smart move since it will help the company to grow and spur financial inclusion across Africa.
  • ...4 more annotations...
  • 100% of its customers are estimated to be low-income, earning less than $10 per day PPP, and approximately 80% have never interacted with formal financial offerings before using the platform. The company has extensive expansion plans for both Africa and now Asia, with CEO and Founder, Andrew Watkins-Ball having relocated to Singapore to drive expansion.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it describes the customer segment targetted by Jumo straightforwardly. It says that 100% of Jumo customers are low-income, and around 80% of them have never been exposed to formal financial offerings before using Jumo.
  • Jumo is a disruptive fintech business that is rapidly reshaping how ethical financial products reach consumers and SMEs in emerging markets. Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • By creating a customer-centric platform that enables the distribution of leading-edge financial offerings instantly and on-mobile, JUMO is generating access at an unprecedented rate
  • Advancing inclusive access to and usage of affordable formal financial services is vital to promoting vital financial health, economic empowerment, financial stability and sustainable growth. Yet emerging markets have negligible penetration of formal financial services: savings is chronically underdeveloped and the majority of the world’s 2 billion unbanked adults are found in low- and middle-income emerging markets.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      we can conclude that Jumo offers diversified financial services that are affordable to their customer's target which is mainly new entrepreneurs
  • chaimaa-rachid on 12 Feb 21
     
    JUMO clients are evaluated to be low-income, obtaining less than $ 10 every day, and around eighty percent have never collaborated with formal monetary offers utilizing the stage.
  • hindelquarrouti on 13 Feb 21
     
    Jumo's goal is that of including the 80% of the world's population that is currently not benefiting from financial services. This company is targeting low and low-middle class as they are the categorise that are usually neglected by traditional finance services. In doing this, it is mainly targeting Asia and Africa
  • mohammed_ab on 13 Feb 21
     
    JUMO serves a big market of underbanked people or people will low access to financial services. I like how the company gives the opportunity to small businesses that wish to grow and expand to borrow money at a low cost.
mbellakbail69

AgroCenta: Digital food distribution platform creating shared value for businesses and ... - 1 views

agrocenta.com/impact

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • AgroCenta is contributing to the agenda of feeding 9 Billion people by 2050 through helping smallholder farmers with information of best farming practices, access to capital to produce more to ensure sustainable food security
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      This would ensure sustainable food security
  • By eliminating exploitative buying from the value chain, smallholder farmers are able to become financially independent, get enough money to take care of their families and needs thereby alleviating them from poverty
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      it will raise one of the biggest challenges which is poverty and reduce it.
  • AgroCenta is contributing to the agenda of feeding 9 Billion people by 2050 through helping smallholder farmers with information of best farming practices, access to capital to produce more to ensure sustainable food security
    • ghtazi
      ghtazi on 13 Feb 21
       
      I think that this is good and very respectable that Agrocenta wants to get rid of hunger and help people in need. this is a very sustainable idea.
  • ...1 more annotation...
  • AgroCenta is contributing to the agenda of feeding 9 Billion people by 2050 through helping smallholder farmers with information of best farming practices, access to capital to produce more to ensure sustainable food security
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      AgroCentra will solve and minimize hunger and ensure sustainable food stability as one of the greatest society challenges
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