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mohammed_ab

Jumo Pitches Its Fintech Services at the Global SME Finance Forum 2018 | SME Finance Forum - 1 views

www.smefinanceforum.org/...-global-sme-finance-forum-2018

JUMO SME Emerging Markets Africa

shared by mohammed_ab on 12 Feb 21 - No Cached
  • During the Global SME Finance Forum 2018, Jumo's Martin Vogdt, Chief Product Officer, demoed the company's services at the TechPitch on November 6.  Jumo is an alternative lender in Africa and Asia providing nano loans to consumers and MSMEs through mobile money rails. The Forum's TechPitch provided an opportunity for 13 innovative fintechs to demo their product to global and emerging market investment firms, financial institutions and other Forum participants. This exclusive opportunity is one of the key features of the conference and is open to a limited number of financial technology innovators working in the SME space.
  • Jumo is an alternative lender in Africa and Asia providing nano loans to consumers and MSMEs through mobile money rails.
  • hichamachir on 12 Feb 21
     
    JUMO is participating in forums with the aim of improving the entrepreneurial skills of SME. This shows that JUMO cares about the improvement of other companies in order to develop the Fintech market.
  • mohammed_ab on 13 Feb 21
     
    This excerpt highlights the main product offerings of JUMO.
mohammed_ab

Nephila assists insurtech WorldCover with reinsurance via Lloyd's syndicate - Artemis.bm - 1 views

www.artemis.bm/...insurance-via-lloyds-syndicate

WorldCover Fintech partnership Crop Insurance

shared by mohammed_ab on 11 Feb 21 - No Cached
  • Emerging markets and climate insurance focused  insurtech start-up WorldCover has partnered with the world’s largest ILS fund manager Nephila Capital, who will now provide some of the firms reinsurance protection through its Lloyd’s syndicate 2357.
  • With Nephila Capital onside for reinsurance capital as well, WorldCover is well-positioned for growth, working with a team that has an understanding of the challenges associated with parametric data-driven insurance products, as well as emerging market climate risk exposure.
  • mohammed_ab on 11 Feb 21
     
    This partnership will allow WorldCover to be more reliable in the eyes of its customers
tahaemsd

WorldCover gains $6m fund to offer climate insurance in emerging markets - 0 views

www.lifeinsuranceinternational.com/...worldcover-climate-insurance

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover CEO and co-founder Christopher Sheehan told Business Ghana: “WorldCover has uniquely combined technological advances and developed a solution that allows us to support smallholder farmers caught in conditions that are worsening due to climate change.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover intends to invest proceeds to ofer coverage in additional emerging markets
sawsanenn

Is M-Pesa really Kenyan or British? - 1 views

www.iafrikan.com/...m-pesas-origins

Financial inclusion FinTech Service Africa Kenya

shared by sawsanenn on 12 Feb 21 - No Cached
  • Hailed as the “Kenyan technology success story”, many have claimed M-PESA to be a testimony to the greatness of the East African country’s technology scene, producing world-class technology companies that rival those in South Africa. However, is the acclaimed mobile money service really Kenyan at all? The answer is no. M-PESA is British.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa can be a british company but it's becoming part of the Kenyan culture. It's not important whether it's British or Kenyan, the most important thing is that M-Pesa revolutionized the Kenyan economy and played a huge role to develop the financial industry in Kenya.
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa may be a British business, but it is becoming a part of the culture of Kenya. Whether it's British or Kenyan, the most important thing is that M-Pesa has revolutionized the Kenyan economy and played a major role in the growth of Kenya's financial sector.
  • Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and claims that Vodafone and its representatives stole the idea of Mobile Cash Transfer from him.
    • ghtazi
      ghtazi on 13 Feb 21
       
      there is a lot of perspectives about the fact that M-Pesa is not really a Kenyan product but a British product. Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and accuses Vodafone of plagiarism. but the story vanished quicker than it appears.
  • ...2 more annotations...
  • Despite this certificate being awarded in 2012 and being stated as being in the LITERARY category, Ouko insists he is the original M-PESA innovator and further elaborates by saying that he has been “trying to Patent a Money Transfer system way back in 2003”. Even though he says that he believes many more Kenyans contributed to the innovation and development of M-PESA without recognition or reward, he writes, “Even though I currently believe I am the one, I start this with an open mind. If another person or firm comes forward with compelling proof I am ready to step aside and support that person.”
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows how M-Pesa helped in the economic growth of Kenya. They also helped in expanding the fintech culture in the country
hibaerrai

Spotting Emerging Fintech: Y Combinator Summer '20 Batch - Tomas Vysny - 0 views

www.tomasvysny.com/...h-y-combinator-summer-20-batch

Thndr Egypt Fintech

shared by hibaerrai on 13 Feb 21 - No Cached
  • Thndr is aiming to build a Robinhood for the Middle East, helping users invest in stock, bonds and funds commission-free via the company’s free app. Robinhood has taken the US exchanges by storm, but the trend hasn’t hit investors in the Middle East; Thndr is aiming to replicate their success with investors there.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      The probability of this fintech to become a robinhood of the Middle East is high as it already is one of the most popular investment apps in the country.
hindelquarrouti

The Rise of the Robo-advisor: How Fintech Is Disrupting Retirement - Knowledge@Wharton - 2 views

knowledge.wharton.upenn.edu/...-fintech-disrupting-retirement

Strategy robo-advisors fitech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • Robos came on the scene about a decade ago, and two early startups were Wealthfront and Betterment. Today, there are dozens of robos in the market, Fisch said. There are pure robo services, as well as those that offer the option of talking to a human advisor, with or without an extra fee. Since they’re automated, robos can more easily avoid conflicts of interest that could beset a human advisor, who might push investments that pay the highest commissions.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Having Robo-advisors in EasyEquities would prevent the risk of having conflicts with "human" advisors. Digital assistance is the key.
  • Robo fees can range from zero — if the investor has less than $10,000 to invest — to as high as 0.89% of assets under $1 million in some cases, said Brett Hammond, research leader of Capital Group. But 0.25% to 0.30% of assets is more typical, he added. (The fee is on top of the cost of the investment itself.) As for performance, it’s a mixed bag with some robos doing better than others, Hammond said. The big question is how they will do in the long run, especially during a big market crash, since they don’t have an extended track record yet. “We don’t know in a complete cycle what these [robos] are going to deliver,” he said. “The real issue is, does it improve outcomes?”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because, on the one hand, it introduces us to the fees that can be charged by Robo-advisors. On the other, performance is hard to measure for robo-advisors since nobody knows how the will behave in the long run and in severe circumstances i.e. a market crash.
  • Artificial intelligence is changing the world of retirement planning. By using improved datasets and algorithms to efficiently deliver solutions tailored to people’s needs, AI can help them save, invest and retire better. One of the hottest trends to emerge in this area in recent years is the use of robo-advisors. These are software programs that use the data supplied by clients to create and automatically manage their investment portfolios
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The use of Robo Advisors alongside artificial intelligence could be used by different fintech companies and in different fields like for investments, portfolio management or retirement planning.
  • ...1 more annotation...
  • One of the hottest trends to emerge in this area in recent years is the use of robo-advisors.
  • hindelquarrouti on 13 Feb 21
     
    It is a very interesting strategy that of benefiting from the use of AI and its advances that include improved datasets and algorithms that efficiently deliver solutions that are appropriate to users need. One of the trend that was raised by this strategy is that of robo-advisors.
sawsanenn

Ethiopay | F6S - 0 views

www.f6s.com/ethiopay

FinTech E-payments ethiopia Africa modernization

shared by sawsanenn on 11 Feb 21 - No Cached
  • As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      I personally didn't know Ethiopia skipped the laptop and computer phase, therefore, the fact that it is succeeding in the mobile technology industry, makes a great story. This statement is important because it was able to help over 2.5 million Ethiopian families.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Ethiopay is an emerging Fintech solution to adress the social and economic gaps
  • Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows how CEOs of ethiopay are willing to invest in the telecom infrastructure, and how Ethiopia has a great potential for e-payment and fintech developement
  • ...4 more annotations...
  • Our Bill-Pay platform concentrates on the core monthly needs such as water, electricity, gas. But we also provide options to purchase Data, manage property payments, and even school tuition fees.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it highlights what the products and services proposed by Ethiopay serve for. It allows us to better understand what customers need Ethiopay for, which could prove to be very useful when designing products.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.
  • Ethiopay is an emerging FinTech solution to address the social and economic gaps left by established payment solutions. Deeply embedded in the communities they serve, the founders of Ethiopay have the combination of entrepreneurial drive, technical skill and through the Georgia FinTech Academy, the FinTech ecosystem support to thrive.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Ethiopay is a platform that is used in Ethiopia to help the citizens a new way to manage bills and give an opportunity for Ethiopians living in the united states to help their families. they have a great combination of entrepreneurial drive and technical skills.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is com
  • nouhaila_zaki on 13 Feb 21
     
    "Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model. Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families. Our Bill-Pay platform concentrates on the core monthly needs such as water, electricity, gas. But we also provide options to purchase Data, manage property payments, and even school tuition fees."
nourserghini

Nigeria's Paga acquires Apposit, confirms Mexico and Ethiopia expansion | TechCrunch - 1 views

techcrunch.com/...-mexico-and-ethiopia-expansion

Paga Fintech Competitors

shared by nourserghini on 07 Feb 21 - No Cached
  • As it grows abroad, Paga faces greater competition in Nigeria. For the last decade, South Africa and Kenya — with the success of Safaricom’s  M-Pesa product — have been Africa’s standouts in digital payments.But over the last several years, Nigeria has become a magnet for VC and fintech startups. This trend reached a high-point in 2019 when Chinese investors put $220 million into Opera owned OPay and Transsion backed PalmPay — two fledgling startups with plans to scale in Nigeria and broader Africa.
    • nourserghini
      nourserghini on 07 Feb 21
       
      Paga's competitors in its origin country Nigeria and broader Africa are M-pesa and PalmPay.
  • With its Apposit acquisition and continued expansion, PayPal may become more than a model for Paga.Founder Tayo Oviosu sees big fintech players, such as PayPal and Alipay, as future competitors with Paga’s plans to move into more emerging markets.
    • nourserghini
      nourserghini on 07 Feb 21
       
      Competition in emerging markets for Paga are big fintechs such as PayPal and Alipay.
hindelquarrouti

South African fintech Jumo raises $55 million in Goldman-led funding - 0 views

internationalfinance.com/55-million-goldman-led-funding

Jumo funding new-markets fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • The startup will use the proceeds from the funding to expand into new markets and launch new products. Jumo is targeting entrepreneurs in emerging markets — and plans to offer next-generation savings, lending and insurance products to them. 
  • The startup currently operates in five African countries — Kenya, Ghana, Uganda, Zambia and Tanzania. It closely works with financial firms and telecoms to provide its services, media reports said. 
  • hindelquarrouti on 13 Feb 21
     
    Jumo received an amount of $55 million in founding, and it will use them in order to penetrate new emerging markets; as well as, introducing new products that will increase customer's satisfaction.
chaimaa-rachid

WorldRemit raises $175M at $900M+ valuation to help users send money to contacts in eme... - 0 views

techcrunch.com/...o-contacts-in-emerging-markets

WorldRemit quick-money million

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • WorldRemit, the London startup that has focused on enabling competitively-priced, quick money transfers from migrant workers and immigrants living in developed countries back home, typically in developing countries, has raised $175 million in a Series D round of funding from TCV, Accel and Leapfrog.
  • chaimaa-rachid on 13 Feb 21
     
    In this article, we can notice that the company has grown and I think it will maintain this growth as people are satisfied with its services.
sawsanenn

Paga Definition - 0 views

www.investopedia.com/...paga.asp

FinTech E-payments Nigeria competition

shared by sawsanenn on 13 Feb 21 - No Cached
  • In order to prevent fraudulent transactions, Paga has put certain measures in place to protect its users. A user logging into an unrecognized device, for example, will have to answer a couple of security questions before proceeding. Again, every transaction using Paga has to be finalized with a personal PIN known only to the user.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga has placed such steps in place to protect its users in order to discourage fraudulent transactions. For example, a user logging into an unrecognized computer would have to answer a few safety questions before continuing. Again, with a personal PIN is known only to the user, any transaction using Paga must be finalized.
  • With Paga, customers are able to deposit and save money, purchase prepaid phone credit, pay utility and cable bills, and make payments to retailers. The partnership between Paga and Western Union also has the added benefit where Western Money transfers sent to users can be deposited into their Paga accounts.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses Paga's offerings fist, before moving to how Paga's partnerships, here with Western Union, helped the fintech improve its offerings.
  • Paga was introduced in Nigeria to take advantage of the cash buildup in the system and to create a means whereby financial services are available to all. Although the banking sector in Nigeria is not easily accessible to everyone, the telecommunications industry has been more successful in reaching a large portion of the country’s population. The collaboration of both the banking and telecom sector has given rise to mobile banking platforms like Paga, where a user can perform basic financial transactions with the use of a cellphone. Paga works through a mobile phone application or online through the company’s website.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it narrates the context in which Paga emerged. The combination of a large unbanked/underbanked population and high accessibility to telecommunications contributed to the establishment and subsequent success of Paga n Nigeria.
  • ...1 more annotation...
  • A number of other mobile wallet and payment service platforms are increasingly being implemented in emerging nations that have a high percentage of unbanked groups. M-Pesa, MTN Mobile Money, Airtel Money, and Orange Money are examples of mobile banking applications that are being employed to include all people in the growing digital financial sphere.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt talks about companies that strated to offer the same services as paga which made them competitors to paga
tahaemsd

WorldCover Raises $6 Million in Series A Funding to Provide Climate Insurance in Emergi... - 0 views

www.businessghana.com/...-Insurance-in-Emerging-Markets

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover has uniquely combined technological advances and developed a solution that allows us to support smallholder farmers caught in conditions that are worsening due to climate change," said Christopher Sheehan, WorldCover CEO and co-founder. “With the rise of many insuretech startups around the world, we are excited about this successful round of Series A funding as it enables us to accelerate growth in existing markets while working towards expansion into new regions. This will allow us to fulfill our ultimate vision of making the world more resilient to climate change”.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      worldcover is addressing the 50-100$ Billion in annual losses from natural disasters, of wich less than 1% is insured
aminej

WorldCover raises $6M round for emerging markets' climate insurance | TechCrunch - 1 views

techcrunch.com/...ging-markets-climate-insurance

Climate Change Agriculture Farmer Insurance Funds Investing Online Fintech

shared by aminej on 07 Feb 21 - No Cached
  • WorldCover investor and EchoVC founder Eghosa Omoigui believes the startup’s insurance offerings can actually help farmers improve yield. “Weather-risk drives a lot of decisions with these farmers on what to plant, when to plant, and how much to plant,” he said. “With the crop insurance option, the farmer says, ‘Instead of one hector, I can now plant two or three, because I’m covered.’ ”
  • WorldCover’s platform uses satellite imagery, on-ground sensors, mobile phones and data analytics to create insurance options for farmers whose crop yields are affected adversely by weather events — primarily lack of rain.
  • For the moment, WorldCover only insures for events such as rainfall risk, but in the future it will look to include other weather events, such as tropical storms, in its insurance programs and platform data analytics.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      worldcover model oes not assess or provide insurance payouts specificially for climate change
  • ...3 more annotations...
  • the startup will look to possibilities to update its platform to offer farming advice to smallholder farmers, in addition to insurance coverage.
    • aminej
      aminej on 13 Feb 21
       
      WorldCover has managed to raise funds of 6 milllion which is huge. It shows that companies are more and more helping farmers and agriculture because it is very important for the development of a country
  • WorldCover, a New York and Africa-based climate insurance provider to smallholder farmers, has raised a $6 million Series A round led by MS&AD Ventures.Y Combinator, Western Technology Investment and EchoVC also participated in the round.WorldCover’s platform uses satellite imagery, on-ground sensors, mobile phones and data analytics to create insurance options for farmers whose crop yields are affected adversely by weather events — primarily lack of rain.
  • mohammed_ab on 07 Feb 21
     
    WorldCover provides a solution for crop and smallholder farmers to protect themselves from weather uncertainty. The company gives an opportunity to those farmers to hedge against weather risks, which helps them increase their yield.
  • hindelquarrouti on 13 Feb 21
     
    Worldcover is an African-based Insurance that covers climate. It mainly targets farmers. It benefits from the use of satellite imagery and data analytics in order to create good insurance options to farmers.
  • chaimaa-rachid on 13 Feb 21
     
    Worldcover gives small farmers the correct sort of insurance relying on their region.
mohammed_ab

FinTech Innovation Map Reveals Emerging Technologies - 0 views

www.startus-insights.com/...-reveals-emerging-technologies

Fintech Big Data Strategy

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Big DataIn addition to traditional financial data collection, new data sources such as mobile banking and the Internet of Things (IoT) provide an additional layer of data gathering. Combined with Artificial Intelligence, Big Data analytics utilize large amounts of old and new data to discover hidden patterns for better risk management and fraud detection. New insights from big data improve the understanding of customer behaviors and help banks to create better and more customized products and services.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Big data analytics is another technology that fintechs have to consider in oredr to manage the important number of customers and data they have.
  • AI helps banks to analyze their Big Data to improve existing solutions and make better decisions. A more recent AI trend is to use its cognitive abilities to go through a large amount of unstructured text and data to generate more insights and to learn natural language. A more intelligent AI chatbot or virtual assistant can take over repetitive “low-value” operations, such as performing small amount transactions, explaining financial products and providing basic financial advice to customers.
  • mohammed_ab on 13 Feb 21
     
    Artificial Intelligence is a great technology that fintech like M-Pesa has to consider as it could have a big impact on their operations. It could help the company to deal with and analyze big data and generate insights that might have taken months to discover with traditional approaches.
omarlahmidi

The Snapscan effect: how mobile payments made QR codes relevant in South Africa - Memeburn - 3 views

memeburn.com/...codes-relevant-in-south-africa

shared by omarlahmidi on 11 Feb 21 - No Cached
  • “Mobile payment systems are quickly becoming mainstream, and it will be fascinating to see how the more mechanical systems like QR Codes compete,” says World Wide Worx managing director Arthur Goldstuck. “Ideally, there should be room for any system, with each one finding its ideal niche. But there are no certainties in a sector that is moving so fast.”
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like. By the end of 2014, the research says, more than 2.1-million South Africans were using QR Codes. Of those 1.1-million were male, with female users only marginally behind, at 1.04-million.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      It is not always simple to develop a new concept. The article showed that applications for QR codes were struggling at first, but I believe that in order to offer a new efficient service, you have to work on your concept and develop it, and SnapScan did an excellent job with that.
  • ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world.
  • ...4 more annotations...
  • According to the research, QR Code usage is strongly age-related, with 673 000 users in the peak age group of 25-34. In contrast, the 15-24 segment amounts to only 471 000, while 494 000 are aged from 35 to 44. A similar number (425 000) makes up the 45-65 age group. Usage drops significantly with retirement age: the 65+ age group comprises 88 000 users. One possible reason for QR code mobile payment solutions such as Snapscan, Zappa, and FlickPay being so popular in South Africa is their ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world. This is especially the case with Snapscan, which supplies its merchants with a point of sale QR code and a basic mobile phone to track payments. This has allowed it, for instance, to be rolled out as parking payment method in Cape Town’s congested CBD.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Mobile payment systems are becoming popular quickly and the more mechanical systems like QR codes are successful it will be interesting to see. Ideally, I believe that every system should be able to find its ideal niche. But in a market that is evolving so rapidly, there are no certainties.
  • Flash back a few years and things weren’t looking great for QR codes.
  • Over the last year however, that’s changed in South Africa, largely thanks to mobile payment apps like SnapScan.
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan is a mobile payment that changed South Africa
  • hichamachir on 11 Feb 21
     
    Creating a new idea is not always easy. The article showed that QR codes apps were struggling at first but I do believe that you have to work on your idea and improve it in order to deliver a new efficient service and SnapScan did an amazing job with that.
  • hindelquarrouti on 13 Feb 21
     
    SnapScan made a good move in introducing Fintech to developing countries through using QR codes as they don't necessarily require large-scale tech investments that are used in developed area.
  • chaimaa-rachid on 13 Feb 21
     
    In the article, we notice that QR codes struggled at first, but in the end, they did a good job in developing and making their platform better and attractive.
mohammed_ab

The emergence of crypto banking: who is poised for success? | Venture Capital | Fintech... - 1 views

www.fintechmagazine.com/...o-banking-who-poised-success-1

Fintech Strategy Crytocurrencies M-Pesa Currency exchange

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Latest figures put the value of the cryptocurrency market at almost $240bn in 2019, nearly double the 2018 figure of $128bn. Could this mean that the global crypto market is starting to move into the mainstream? Significantly, the sector is enjoying rapid growth globally, with the UK, Nigeria, Australia, Canada, Mexico and India all experiencing a recent surge in users. Crypto is also starting to attract interest from institutional investors, which see it as possible insurance against the global rise in quantitative easing.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can let successful farmers use cryptocurrencies which will make the company even more digitalized. I know that small scale framers will mostly not understand the concept of cryptocurrencies that's why it can be optional. The idea is to let big farmers that have some cryptocurrencies use it for Pula's service.
  • The big banking brands have shown little interest in cryptocurrency to date. In part, this is due to their general aversion to high levels of risk and an institutionalised culture ill suited to digital change and innovation – but there is also a legitimate fear that they will fall foul of financial regulators. 
  • It stands to reason that cryptocurrency exchanges are well positioned and strongly motivated to exploit the narrowing gap between crypto and fiat – because they have first-move advantage. Having already built huge cash reserves and crypto-familiar customer bases, it would be relatively straightforward technically for them to add on banking services. 
  • mohammed_ab on 13 Feb 21
     
    M-Pesa could target a new market which is a currency exchange and more specifically cryptocurrencies. This strategy could allow boosting the revenue streams of the company as cryptocurrencies are becoming more used.
aminej

Ghana Interest Rate - Ghana Economy Forecast & Outlook - 0 views

www.focus-economics.com/...interest-rate

Economic Factors Inflation Interest Rates Montary Policy Threat Ghana

shared by aminej on 27 Feb 21 - No Cached
  • At its 26–29 January meeting, the Monetary Policy Committee of the Bank of Ghana decided to keep the policy rate steady at 14.50%, marking the fifth consecutive hold. The decision reflected the Bank’s assessment that despite inflation accelerating recently, it expects it to return to target in the second quarter of this year. Inflation jumped to 10.4% in December 2020 (November: 9.8%) as a result of quicker food inflation, thus landing above the Bank’s target range of 6.0%–10.0%. Although short-term risks to inflation are also emerging from fiscal expansion and rising oil prices, they remain broadly contained according to the Bank, enabling it to maintain its accommodative stance.
    • aminej
      aminej on 27 Feb 21
       
      The economic factors in Ghana are a little bit worrying since inflation is really high (10.4%), interest rates at 14.50%. It shows that the Ghanean economic is really volatile and can affect demand and competitivity within the country if not maintained controlled
ghtazi

Setting Up or Registering a FinTech Company in Ghana - CQ Legal - 1 views

www.cqlegal.net/ing-a-fintech-company-in-ghana

fintech Ghana Bank

shared by ghtazi on 27 Feb 21 - No Cached
  • the regulator of FinTech in Ghana is the Bank of Ghana. The Act states that the Bank of Ghana shall have overall supervisory and regulatory authority in all matters relating to payment, clearing and settlement systems.
    • sawsanenn
      sawsanenn on 27 Feb 21
       
      I think it is a good idea to avoid any complexity or fraud.
  • According to Section 3 of the Payment and Services Act, 2019 (Act 987), the regulator of FinTech in Ghana is the Bank of Ghana. The Act states that the Bank of Ghana shall have overall supervisory and regulatory authority in all matters relating to payment, clearing and settlement systems. As a result of the emergence of FinTech solutions, a lot of complexities have been introduced requiring the Bank of Ghana’s focus to understand and supervise FinTech activities effectively.
    • ghtazi
      ghtazi on 27 Feb 21
       
      This excerpt shows that fintech would be a great idea for the Ghanaian banking sector.
  • Purposeful effort will be required from regulators to shape the future of FinTech and push it in a productive direction in Ghana. It is hopeful that with the introduction of the FinTech and Innovation Office of the Bank of Ghana, there would be regular updates to the licensing requirements of FinTech companies that would ensure adequate compliance with international best practice and also encourage more entrepreneurs to set up FinTech companies in Ghana.
    • ghtazi
      ghtazi on 27 Feb 21
       
      finteches are important
kenza_abdelhaq

AgroCenta CEO on the Challenges of Entrepreneurship in Ghana - 0 views

www.seedstars.com/...llenges-entrepreneurship-ghana

AgroCenta Ghana Specialized market

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Does being an entrepreneur in Ghana – and in a developing economy in Africa – presents any ulterior challenges you had overcome?Being an entrepreneur in Africa and in emerging markets, in general, is quite difficult because of the lack of structure and supports put in place by the government. It requires a lot of courage and persistence to get the simplest things done. Any simple tech solution that you might want to build can end up being a very complex challenge because it relies on services that do not exist or don’t work properly. Access to funding also remains a big problem for many entrepreneurs who will need money to test, pilot and scale a platform or a solution. Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
    • nouhaila_zaki
      nouhaila_zaki on 12 Feb 21
       
      This excerpt is important because it reflects the challenges faced by AgroCenta in Ghana, i.e. corruption, lack of financing, lack of proper infrastructure, lack of government help, among other things.
  • Our business model is simple, we are a B2B business that generates commission fees on trade volumes from the businesses we work with.
    • nouhaila_zaki
      nouhaila_zaki on 12 Feb 21
       
      This excerpt is extremely important because it clearly states the business model of the company.
  • we are definitely improving the financial livelihood of smallholder farmers through fair trade. Many smallholder farmers are paid less than $1 a day and our objective is to increase it to $4 a day by 2020.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      AgroCenta is an extremely important concept because it is helping to increase farmers' salaries. Going from $1 a day to $4 a day is already an improvement.
  • ...8 more annotations...
  • AgroCenta focuses on 3 key impact goals for Ghana:No Poverty: Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • mehdibella
      mehdibella on 13 Feb 21
       
      as you can see this company cares a lot about the livelyhood of their farmers and is trying to provide them only with the best features that would make life easier which in fact the main things that they tackle in the SDGs.
  • Seedstars Summit has been phenomenal. It has put AgroCenta on a pedestal and in the spotlight of a huge community in Africa. The experience after the Summit has been amazing: we received a lot of proposals from potential investors, partners and other service providers keen on working with us for growth and expansion.
  • Winning the vote of the entire jury, AgroCenta from Ghana was crowned the Seedstars Global Winner of the 5th edition of Seedstars Summit. At Seedstars, we are convinced that AgroCenta will shape the future of AgriTech in Africa. Indeed, the start-up’s mission is to improve the financial livelihood of smallholder farmers through fair trade.
    • aminej
      aminej on 12 Feb 21
       
      Agrocenta will have a great impact on farmers in Africa since it will enable them to protect their production and have an insurace in case of any risks. It will also help them regulate the market of agricultural products in order to set a price for each one
  • We identified a missing gap in the value chain that was the capacity to access the market for smallholder farmers after they have successfully cultivated their commodities. Access to the market was a huge problem for millions of smallholder farmers.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      AgroCenta is fulfilling a market gap that is the need for smallholder farmers to access the market.
  • AgroCenta focuses as well as Seedstars on achieving the Sustainable Goals set up by the UN
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      one of the main goals is to reach economic growth by empowering smallholders farmers to see agriculture not only as a survival solution but as an investment
  • Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Agrocenta main goals are the following: first and the most evident one no poverty especially for farmers who are not paid enough. second, gender equality and finally economic agricultural development within the country.
  • A great team for sure! Our major strength has been a team made of people with diverse backgrounds and experiences and a deep understanding of the agricultural value chain. This asset allowed us to save a lot of time we would have naturally spent on trying to fine tune and launch the AgroCenta platform. Thanks to that we avoided making the common mistakes many new and unexperienced founders make.
    • ghtazi
      ghtazi on 13 Feb 21
       
      what we can understand is that having a great team is the key asset that led to the rapid growth of Agrocenta. cross-cultural team has been a plus for the development of agrocenta. it helped the company to save time and avoid making common mistakes that many new and inexperienced founders make.
  • Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
chaimaa-rachid

MTNGH-2019-Annual-Report-final-10mb.pdf - 0 views

MTNGhana Africa Telecommunication Leader

shared by chaimaa-rachid on 13 Mar 21 - No Cached
  • MTN Ghana is part of the MTN Group, a leading emerging market mobile operator, driven by the belief that everyone deserves the benefits of a modern connected life. MTN Group has operations in 21 countries in Africa and the Middle East.
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