Group items tagged

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.

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.

We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.

We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.

We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.

#SolidariTECH The CGEM continues to invest in startup development. In collaboration with the Moroccan Start-up Ecosystem Catalysts (MSEC), it has launched a social initiative called #SolidariTECH. It orientates the startups to develop agile solutions to the COVID19 and quarantine issues for the benefit of civil society, companies and the Government. They provide new solutions in the fields of health, education and even DabaDoc medical consultation online. Now this initiative is welcoming a new stakeholder, the International Finance Corporation. It also aims to deploy the solutions proposed by these startups in neighboring countries such as Algeria and Tunisia and identify new synergies between #SolidariTECH and similar initiatives carried out in the Maghreb region.

The CGEM continues to invest in startup development. In collaboration with the Moroccan Start-up Ecosystem Catalysts (MSEC), it has launched a social initiative called #SolidariTECH.

For instance, the platform “DabaDoc “offers citizens the option to have a medical consultation online. Now this initiative0.959

Abacus is an online multi-asset class brokerage agent in Kenya. It is one of the few Fintech companies in Kenya that help local and international investors to access unit trusts, mutual funds, bonds, and stocks online. Through Abacus, Kenyans can save and invest in areas that give them the best returns for their money, without necessarily having access to a bank account.Abacus also builds mobile and web software platforms that help investors to access financial markets in Africa. The solutions it offers make it possible for people to research and invest online, anytime, anywhere. Because of the type of business it conducts, Abacus is licensed as a data vendor by Kenya’s Nairobi Securities Exchange.

FarmDrive (FD), a Kenyan startup set to unlock millions of dollars in loans for smallholder farmers in Kenya and sub-Saharan Africa, received a follow-on investment from EWB Canada last month, with participation from AK IMPACT INVESTORS, 1 to 4 Foundation, ADAP SEED FUND 2 and The Lakes Charitable Foundation.

Automated financial advising (robo-advising) has become an established practice in wealth management, yet very few studies have looked at the cross-section of the robo-advisors and the factors explaining the persistent variability in their portfolio allocation recommendations. Using a sample of 53 advising platforms from the US and Germany, we show that the underlying algorithms manage to identify different risk profiles, although substantial variability is evident even within the same investor types' groups. The robo-advisor expertise in a particular asset class seems to play a significant role, as does the geographical location, while the breadth of the offered investment choice (number of portfolios) across the robo-advisors under study does not seem to have an effect.

The product of WorldCover is certainly customer centric at its core. When initially launching, Chris went to Ghana and began speaking to the farmers there. To him, it was important they didn’t “sit around and design a product by committee,” but instead that they actually went and understood what the customer problems were.“I would ask a farmer, what’s your biggest problem today? What are you worried about today? Just a very general question, and they would say I’m worried that the rain won’t come. I’m worried that my crop will fail and there will be drought this year.” — Chris Sheehan, CEO WorldCover

Egypt-based Moneyfellows, a tech startup that digitizes informal lending between friends and family networks, has raised US$600,000 in an investment round led by Dubai Angel Investors and 500 Startups.

Founded in 2015, the idea for Moneyfellows hit the startup’s founder and CEO Ahmed Wadi in Germany, where as a fresh graduate with a modest pay, he was looking to fund his own wedding and honeymoon. “Doing an offline money circle with friends and family back home was my only resort,” Wadi recalls. “It was extremely painful to find a suitable one, manage it, and keep track of it. If there existed a digitized version of this, I would’ve been a frequent user myself. There wasn’t; so, I decided to do something about it, and do it myself.”

FarmDrive generates real-time credit reports for smallholder farmers, allowing them to access loans. Their proprietary platform collects traditional and alternative data points like revenue and satellite imaging to create detailed yield estimates and assess credit risk and then delivers loans via mobile money. As a result, farmers can increase their crop yields, improve their incomes and invest their additional revenue back into their families and communities.

Capitec has added share trading to its portfolio after entering into a partnership with low-cost investment platform EasyEquities. The move, which was announced on Friday, could be seen as a sign that Capitec wants to be able to satisfy the diverse requirements of more upper-income clients for broader financial services. The company has traditionally used no-frills bank accounts to attract budget-savvy low- to middle-class banking clients. ..

Capitec partners with EasyEquities to offer share trading in SA and US The move is part of a broader strategy to provide diverse financial services through a partnership network

EasyEquities owner Purple Group intends to speed up its entry into new markets and the rollout of new products following its first annual profit since 2012.The financial services company is pursuing its mission of "democratising all things investment" with an almost evangelical zeal, and years of slog have finally paid off with earnings of R17m for the year ended August...

EasyEquities owner Purple has finally turned a profit, which is key to the group’s ambitious growth plans

The investment will allow FarmDrive to scale to US$13 million of loan originations in 2019 with minimal losses and exceptional returns using RiPe, a customisable lending engine that will allow lenders to plug in and access low-cost loan origination channels such as USSD, credit scoring, identity verification, and a portfolio management suite that includes recovery and collections, payments, customer support, and advanced real-time data analytics.

CAIRO (Reuters) - The initial public offering for Egyptian digital payments company Fawry was oversubscribed by 30.3 times at a price of 6.46 Egyptian pounds (39 U.S. cents), data from the Egyptian stock exchange showed on Monday.

Fawry plans to list 36% of its share capital, worth up to 1.6 billion Egyptian pounds ($97 million), in the flotation.It said Actis, Banque Misr and National Bank of Egypt would each be offered about 7% of the stock, and 5% would be offered to retail investors.A private placing representing the remaining 10% of the share capital was 15.9 times oversubscribed, raising about 360 million Egyptian pounds, investment bank EFG Hermes said last Thursday.

“The subscriptions for both the public and private offerings for Fawry were large and strong because the industry itself is new to the market and has greater than average growth,” said Radwa El-Swaify, head of research at Pharos Securities Brokerage.

An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs.

A 300% rally from a mid-March low has boosted its market value to 20 billion Egyptian pounds ($1.3 billion). That puts Fawry among the country’s 10 most valuable companies alongside firms such as Telecom Egypt Co. and Elswedy Electric Co., which generate many times more revenue and profit.

echnology and its trends has made our lives easier especially in the fields of financial technology and payments. Now there are more advanced ways of payments and one of the most important players in Egypt in this field is Fawry. Fawry offers financial services to consumers and businesses through different channels and locations. Through Fawry you can pay your mobile, landline and utilities bills, donate money, renew your car license and more. Fawry was founded in 2008 and officially started in the market in 2010. They now have offered their service to reach 80,000 points of service in 300 cities all over Egypt. Their portfolio of businesses include: Orange, Vodafone, Etisalat, Go Bus, Lynks, Anghami, Ahl Misr Foundation, Resala and more

We started by hiring the best people we could find, for any startup to succeed it needs a really strong team especially at the beginning. We also got a good fund at the beginning from different entities such as Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and other banks, this is what helped us build our brand.

Strong team management and good negotiation skills. The second thing is that it was a mutual investment fund, those investors already liked Fawry’s model and didn’t want to change anything but just help accelerate our growth with some cash. We are now a large corporate but with the spirit of a startup. Even until now, we appreciate everyone’s input at the company whether they have been working here for a month or 5 years. it doesn’t matter.

Lagos, Nigeria – Leading digital financial services company, Carbon, has released it’s 2019 financial statements audited by KPMG, detailing its product growth and $17.5mm in revenue.Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.Formerly called Paylater, Carbon pioneered instant lending in Nigeria and was the first mobile app to provide access to credit digitally and without requesting individuals to present the documents and collateral traditionally associated with accessing loans. Earlier this year, Carbon introduced its iOS app and USSD (*1303#) service. It also announced its Disrupt Fund, a $100,000 Pan-African fund to address the lack of capital for African tech startups.“The company will continue to share it’s audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.Carbon also plans to introduce debit cards, a reward program for loyal customers and SME accounts for entrepreneurs, in the months to come.You can find the full annual report here (https://bit.ly/2YNuvPw).About Carbon: Carbon (https://getCarbon.co) is a pan-African digital financial institution accessible via smartphones and which provides individuals with access to credit, a fee-free/interest-earning wallet, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management.Our mission is to empower opportunity globally through friction-free finance that empowers individuals and businesses. We are a global company of over 100 employees with operations in Nigeria, England and Kenya.

Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.

Leading digital financial services company Carbon from Nigeria posted all-time high growth last year