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ayachehbouni

YCombinator backed investment platform, Thndr, receives first new brokerage license in ... - 0 views

  • Thndr, a YCombinator backed investment platform, makes it easy to invest in stocks, bonds, and funds completely commission free. Thndr aims at solving Egypt and the region’s painful, outdated and time consuming process to open, fund and actively manage investment accounts. Thndr’s first product is a mobile first equities trading platform in Egypt. The startup just acquired the necessary licensing from the Financial Regulatory Authority (FRA) making the fast growing startup the first company to acquire a brokerage license in Egypt since 2008. Issuing a license to a tech company is a testament to the regulator’s strong commitment to seek modern methodologies to enhance the investment landscape in Egypt.
    • aminej
       
      They acquired an important license from the Financial Regulatory Authority (FRA) which shows that they are following strict regulations. It is good for the traders because it is a official trading platform that offers safety when investing and trading
  • Thndr pre-seed funding involved an array of distinct investors such as Y-Combinator, 4DX Ventures, Endure Capital, The Raba Partnership, MSA Capital, along with some other notable investors that include Tom Stafford, Managing Partner, DST “Savings and investing is a critical part of building wealth and economic development, and Egypt’s youth needs a mobile first platform like Thndr to open the floodgates of investing in the coming decades.
    • ayachehbouni
       
      Investors are attracted to Thndr because of its ideals and goals but mostly because of its innovative services. The platform removes all barriers and friction that users face throughout their investment journey, be it when it comes to account opening, associated costs, access to resources or ease of use. The important mission these services carry out are what made the success of the company among its competitors.
mohammed_ab

Matchi.biz - EasyEquities talks fintech challenge events - 0 views

  • Our goal is to democratise all things investment. We’re approaching our break-even point as a business and we’ve achieved some significant milestones. The first is that we’ve built a valuable brand that is highly trusted and is engaging a new audience in investing – one that is demographically representative of the South African opportunity. Everyone is included, from a 12-year-ols running their own stock portfolios to a 94-year-old previously disadvantaged South African who felt they would never participate in owning shares in this country. It’s been an incredibly rewarding journey.
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    I really like the fact that EasyEquities is facilitating and allowing the access to financial markets to different age groups going as low as 12 years old. I once tried online trading, and I can understand the difficulties that people face to find reliable platforms in which you can trade foreign financial instruments.
hibaerrai

Fawry draws a line for Egypt's unbanked | Financial Times - 0 views

  • To minimise risk, shops where the services are available buy credit in advance from Fawry before they collect any money from the public, earning a cut from the fees.
  • “Acceptance is critical to us and we have been keen to develop solutions to expand the acceptance footprint,” he says. “The alliance with Fawry helps this by adding segments that were not accessible before. It is a typical fit with our strategy for penetrating the unbanked segment.”
    • ayachehbouni
       
      For those who do not know how to use technology or never visited banks, which represent the majority of the population, Fawry offers bill payment at the corner store. Fawry's services are available at 16,000 retailers and 1,300 post offices. This kind of services is the main reason behind the sudden development of the country's economy as financial services were available to more people, and more importantly to unbanked and underbanked.
  • For the majority of the population, who have never touched a keyboard or stepped through the doors of a bank, Fawry offers bill payment at the corner store. It has a growing network of collection points at small grocers, stationers and chemists, which are equipped with point-of-sale machines – the same ones used for credit card payments. Fawry’s services are available at 16,000 retailers and 1,300 post offices, advertised by its bright blue and yellow logo.
    • nouhaila_zaki
       
      This excerpt is important because it describes the scope of the current network that Fawry enjoys in Egypt, something that can be useful for developing strategies for growth.
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  • It has teamed up with MasterCard to launch an online payments portal, and 12 banks (representing 80 per cent of Egypt’s banking capacity) offer its services through their ATMs, over the counter, or on their websites.
    • nouhaila_zaki
       
      Here the excerpt is important because it introduces a key partnership underwent by Fawry, namely the one with Mastercard; in addition to what this partnership entails for Fawry's operations (positive impact since Fawry could launch an online payments portal + offering of Fawry services by several banks).
  • “The problem in Egypt is that companies which have bank accounts sell services to people with no bank accounts,” says Ashraf Sabry, chief executive and a founder of Fawry. Among its owners are the technology development fund; a public-private partnership, Raya; a local technology company; and a group of banks including HSBC. “You could say the sellers are at the top of a pyramid and the buyers at the bottom. We connect them.”
    • hibaerrai
       
      Unbanked individuals rights in Egypt are ignored. Fawry's goal was to give them the opportunity to financial services as well, and increase the country's financial inclusion.
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    This is a smart move because minimising the risk in this kind of operations is very important.
nouhaila_zaki

My PAGA - transact mobile payments; send cash via mobile; pay bills via mobile. - 0 views

  • We are a team of passionate Africans determined to tackle what we consider a critical issue paramount to Africas development - the availability of financial services to all Africans. Paga was founded early 2009 on the simple belief that the ubiquity of mobile phones can be leveraged to bring financial services to all Africans. We aim to accomplish our mission by working in partnership with select Banks, Microfinance institutions, and all Mobile Network Operators. Innovation is at the core of our company - we strive to develop "appropriate technology" suited for the local markets where we operate. We also work hard to ensure our services are low cost and accessible via our agent network - in doing so we can strive towards universal access. Paga works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their finger tips regardless of what phone or network they are using. For consumers, our core offering is a money transfer service - with Paga you can send money to anyone with a mobile phone. You can either use Paga by yourself (if you own a Paga account) or by going to any Paga Agent. We also offer several other products such as: buying/sending airtime credits, bill payments, and retail payments. For ultimate convenience we provide several channels for consumers to use Paga - SMS, Online, a mobile application, USSD, or IVR (automated line). Paga Merchant Services allows businesses to collect payment from all spectrums of the population - whether banked or not. By leveraging the Paga e-widget, businesses can integrate a world class online checkout process on their own websites. Businesses can also leverage our agent network to collect payment for goods and services or provide customers the convenience of paying via SMS or online at Pagas customer portal. Our current services are the beginning of a journey. Through our innovation lab "Paga labs" and in conjunction with our partners we will continue to develop and deliver valuable offerings to our customers. Together with our partners we will achieve our mission and bring financial services within reach of millions of Africans!
    • nouhaila_zaki
       
      This excerpt is an introductory statement of the company Paga, its operations, its goals, its customers, its core offerings, and its innovation programs.
hibaerrai

Fawry Makes Bill Payment Easier for Egyptians | Middle East/Africa Hub - 2 views

  • This innovation not only simplifies consumers’ lives, but allows more merchants to become a part of the electronic payments cycle, giving them the opportunity to safely conduct transactions and appeal to consumers who prefer not using cash. We have seen significant growth rates, and have managed to reach up to 1 million transactions per da
  • When we founded Fawry, an electronic bill payment and presentment company, we were very aware of the gap between card usage and the limited acceptance points in Egypt. Our aim was to extend acceptance channels beyond the traditional card acceptance points to make life easier for consumers in Egypt.
    • samielbaqqali
       
      People have considered Fawry's facilities to be very convenient. We can save precious time by using online payments and it also offers ease of use.
  • Fawry’s service is playing a key role in revolutionizing the payment industry in Egypt, a country where only 10% of the population of 85 million people has access to formal banking services.
  • ...2 more annotations...
  • Fawry’s service is playing a key role in revolutionizing the payment industry in Egypt, a country where only 10% of the population of 85 million people has access to formal banking services
  • We started our operations in early 2010 when Fawry enabled convenient and secure bill payments through a single, unified electronic network. Today, the Fawry network is comprised of 40,000 payment service points, including bank ATM machines, Egypt Post offices, pharmacies, supermarkets and convenience stores.
    • hibaerrai
       
      As Fawry's main goal and purpose is to make financial transactions safer and easier for the customers, I believe that it is bound to gain a larger customer base overtime; new users are attracted by companies and services that put the clientele's best interest as a priority.
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    People have found Fawry's services to be very convenient. By using online payment we can save valuable time and it also provides ease of use.
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    When Fawry was first established they were well aware of the gap between using card and using online payments, yet they manage to create acceptance for their service. They showed their customers in Egypt that it is much easier using online payments. And now they are revolutionizing the payment industry in Egypt.
hibaerrai

Fawry Microfinance to receive 310M loan for expansion - Business Today - 1 views

  • Fawry subsidiary Fawry Microfinance will receive a combined 310 million through loan and credit facilities with the Egyptian-American Enterprise Fund (EAEF) and Banque Misr respectively. The ordinary general assembly of Fawry for e-payments has approved a EGP 160 million loan between Fawry Microfinance and the Egyptian-American Enterprise Fund. They also approved a financing offer by Banque Misr, a board member and shareholder, which would grant Fawry credit facilities with an authorized limit of EGP 150 million. EAEF owns a 9.7 percent stake in Fawry while Banque Misr owns 6.3 percent.
    • hibaerrai
       
      Fawry microfinance capital has increased in favor of old shareholders. The fintech's portfolio increased to about 453M closer to the company's goal 500M before the end of 2021, and that's good news for Fawry.
ghtazi

Mukuru | Company Profiles | Africa Outlook Magazine - 0 views

  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • hibaerrai
       
      Mukuru targets unbanked individuals, ignored migrants and others. The goal was to make money and remittance transfers easier and safer. I believe that they should follow WorldRemit's path and expand more internationally.
  • “We’ve attempted to stay true to this approach as our business has grown, expanded and evolved – if we continue to obsess about trying to understand what customers really need and build solutions to address these requirements, then we’ll be well placed to walk alongside our customer base as their needs evolve.”  Following this philosophy, Mukuru has developed a remittance portfolio that is characterised by a high degree of customer loyalty, trust and repeat business – features that have enabled the company to reach a total 25 million transactions, a figure recorded in late 2018.   
    • sawsanenn
       
      This excerpt is important because it shows that innovation and improvement of customers experience are the keys to Mukuru's success since they put all their focus and attention into their customers
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • ghtazi
       
      through this excerpt, we can see that Mukuru wanted to produce a transformation solution that will be easy to use for everyone and accessible to anyone with a mobile phone. they put themselves in the customer's shoes in order to better understand their needs and preferences.
hibaerrai

Y Combinator-backed Thndr receives first new brokerage license of Egypt in ten years fo... - 0 views

  • Founded in 2019 by Uber Egypt’s former General Manager Ahmad Hammouda, Thndr is starting with a Robinhood-like mobile-first equities trading platform that enables people to invest in stocks in The Egyptian Exchange.
    • ayachehbouni
       
      Thndr hopes to increase Egypt's financial literacy which is key for families to move up in social mobility.
    • hibaerrai
       
      This fintech encourages egyptian individuals to invest more in stocks and bonds and other securities. The goal is to enhance investments in the country.
  • Ahmad Hammouda, the co-founder and CEO of Thndr, said, “Our vision is to put wealth in the hands of everyday individuals. With the rise of technology, and the foresight of a very supportive Financial Regulatory Authority, we can make this vision come to life — Egypt is expected to be the 7th largest economy by 2030 and has more than 100 mn people, most of which are young and are looking for a convenient and digital way to invest their money. That’s why we are excited to bring a new breed of young investors to the market.”
    • aminej
       
      I love the fact that people in Egypt are really concerned about teaching the young generation some important concepts such as trading and investing in either national or international markets
mohammed_ab

0% Interest Small Business Loans | Kiva - 1 views

  • Kiva expands access to and lowers the cost of capital for small business owners by providing 0% interest, crowdfunded loans, raised from its network of 1.6 million supportive lenders around the world. Many of these lenders become borrowers' new customers, brand advocates, and biggest fans.
  • WE NYC has partnered with Kiva, a platform specializing in crowdfunded loans, to help more women entrepreneurs achieve crowdfunding success. Participating in WE Fund Crowd means WE NYC will be your first lender, pledging 10%, or up to $1,000, of your crowdfunding goal. Friends, family, and new supporters who see your campaign will know that WE NYC believes in your business and your dreams.
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    Kiva has a very interesting platform that aims to help small businesses that have no interest.
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    This partnership between the city of New York and Kiva should be an example for all major cities.
ayachehbouni

La révolution digitale au service de l'agriculture en Afrique - Orange Juice ... - 0 views

  • Aujourd’hui plus de 3 000 agriculteurs sont inscrits sur la plate-forme mobile. En 2016, en travaillant avec un partenaire financier, FarmDrive a permis d’attribuer environ $130 000 de prêts à 400 agriculteurs.
    • ayachehbouni
       
      To this day, Farmdrive has more than 3000 farmers that uses its platform and, after working with a partner in 2016, it was able to procure about $130000 of loans to 400 farmers. The numbers speak of themselves, Farmdrive was able to reach its goal and expand it to a more ambitious one: reach even more farmers and help them more.
nouhaila_zaki

M-Pesa - Wikipedia - 0 views

  • M-Pesa is a branchless banking service; M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
    • kenzabenessalah
       
      M-PESA is unique because it offers branchless banking which makes transactions more efficient.
  • It has since expanded to Tanzania, Mozambique, DRC, Lesotho, Ghana, Egypt, Afghanistan and South Africa. Meanwhile services in India, Romania, and Albania have been terminated amid low market uptake. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
    • nouhaila_zaki
       
      I like this excerpt because it describes where M-Pesa has successfully expanded and where the company's expansionist efforts failed.
  • M-Pesa is widely seen as demonstrating that it is possible to make a profit while also improving the lives of the poor.[28] Tavneet Suri, based at the Massachusetts Institute of Technology, and William Jack, based at Georgetown University have produced a series of papers extolling benefits of M-Pesa. In particular, their 2016 article published in "Science" has been very influential in the international development community. The much cited result of the paper was, that 'access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.[29] Global development institutions focusing on the development potential of financial technology frequently cite M-Pesa as a major success story in this respect, citing the poverty-reduction-claim and including a reference to Suri and Jack’s 2016 signature article. In a report on "Financing for Development", the United Nations write: "The digitalization of finance offers new possibilities for greater financial inclusion and alignment with the 2030 Agenda for Sustainable Development and implementation of the Social Development Goals. In Kenya, the expansion of mobile money lifted two per cent of households in the country above the poverty line."[30]
    • nouhaila_zaki
       
      This excerpt is important because it reports on academic research describing how M-Pesa is the living example of how the search for profit is not antithetical to inclusion and improvement of lives of the poor. Using M-Pesa as a case study, several researchers praise fintech for its ability to offer greater financial inclusion.
mehdibella

Exciting news! Kiva's next chapter | Kiva - 0 views

  • Today, we’re proud to introduce a new look and feel for Kiva, and a new, mobile-responsive website that makes supporting small businesses around the world easier than ever.
  • When Kiva began in 2005, we had a simple goal: to connect borrowers who need small amounts of capital to improve their lives, with lenders who want to help.
  • Kiva’s grown into a true global community, where people come together to support and believe in each other. That's part of the story we hope to capture with our new imagery.
mbellakbail69

Fawry | IBM - 3 views

  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
  • The technology offers data compression and deduplication features that enable Fawry to boost utilization of storage resources. Abbas adds: “IBM FlashSystem A9000R offers much greater performance than our previous storage platform, meaning that we get both optimized data economics and short response times. We were able to achieve a seamless migration to the new platform with zero downtime.”
  • Each day, Fawry processes 2 million financial transactions, giving Egyptians an easy, secure payment alternative to the complex, time-consuming procedures that are the norm. To help grow customer satisfaction and speed the roll-out of new services, Fawry deployed IBM® Storage, IBM Db2® and Oracle database on IBM Power Systems™ solutions.
  • ...6 more annotations...
  • With a population of over 100 million people, Egypt is a land of opportunity for consumer services providers. In a country where payment procedures are often slow, fragmented and complex, Fawry identified a gap in the market for a simple, secure omnichannel payment gateway.
    • nouhaila_zaki
       
      This excerpt is important because it introduces the need that Fawry was created to tackle and the market gap that it saw as an opportunity to prosper. It is very important to understand the core problem around which Fawry services were designed, in order to be able to design and develop strategies that are faithful to this same goal.
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
    • samielbaqqali
       
      Fawry strives to make the life of their customer simpler. They have an e-commerce solution that links sellers to buyers that provide different methods of payment.
  • Fawry Putting Egypt on the global digital payments map
  • The company’s success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution.
    • kenza_abdelhaq
       
      Fawry focuses on fast and dependable services based on innovation. The company also works on making better use of the data collected to make informed decisions; while keeping in mind the importance of a good technology infrastructure ready for the implementation of any new phase.
  • Haytham Abbas, Infrastructure Director at Fawry, picks up the story: “When we launched in 2008, the average household had to deal with around 13 separate utility and service providers. Since they typically had to set up payments with each service provider separately, often by visiting a branch, this was a lot of hassle. We created an omnichannel digital payment network to make life easier for consumers and the businesses that serve them.”
  • Fawry has a long history with IBM, having chosen IBM solutions to underpin its business again and again over the last decade. The company relies on both IBM Db2 and Oracle database software running on IBM Power Systems to support its bespoke electronic financial platform, processing 2 million transactions per day. “Together, IBM Db2, Oracle database and IBM Power Systems solutions give us the ability to process huge transaction volumes,” comments Abbas. “They provide a powerful foundation for our business, and have scaled seamlessly as we’ve grown.”
    • mbellakbail69
       
      To ensure that it selected the best offerings on the market for its latest refresh, the company's IT team undertook a thorough evaluation of storage and server options from multiple vendors.
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    Fawry aims to make their client's life easier. They have an e-commerce solution that connects sellers with buyers offering various payment methods.
  • ...1 more comment...
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    The success of the compnay relies on its partnerships. Fawry's partnership with IBM is brilliant because IBM can offer Fawry some advanced technology that can help improve the business.
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    Fawri is a secure alternative to the traditional procedures. It is user friendly and Egiptians are benefiting from it.
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    "The company's success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution."
kaoutarchennoufi

Leadership | Kiva - 0 views

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

From M-Pesa to Ushahidi: how African tech is fighting the coronavirus - Friends of Europe - 0 views

  • The main telecoms operators in the country are all pitching in too – starting with Safaricom which uses the M-Pesa mobile application. In my book “Startup Lions, at the heart of African Tech” I explain how M-Pesa was born organically (and unexpectedly) from contact with the poorest Kenyan populations who didn’t even have bank accounts. A great many of them used ‘m-banking’ to gain financial independence which led to the M-Pesa service having over 22.6 million users in Kenya in 2019 – almost two-thirds of the adult population. A few hours after the president’s announcement, M-Pesa decided to drastically reduce its usage fees and to remove the daily transaction volume limit across the board in order to increase cash flow.
    • kaoutarchennoufi
       
      M-Pesa has made the decision to increase its cash flow by reducing its usage fees and removing the daily transaction volume limit across the board. However, I think that it is not a good strategy to reach that goals. They need to follow other ways such as encouraging E-payments, paying less their suppliers, offer discounts, increase their fees..
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