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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.
kenza_abdelhaq

Digital Innovation in Emerging Markets: A Case Study of Mobile Money | MIT CISR - 0 views

cisr.mit.edu/...tionVodafone_OrlikowskiBarrett

M-Pesa Kenya Payments Services

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • We describe the success of M-PESA in Kenya and the subsequent disappointment when M-PESA was replicated in Tanzania. We show how emerging markets are likely to be more different from than similar to one another. Thus, companies should consider a strategy of exploration as they attempt to expand within emerging markets. 
  • In 2008, a year after launching in Kenya, Vodafone attempted to replicate this success in neighboring Tanzania, a country that resembled Kenya in many important ways—size of population (40+ million) and main languages spoken (Swahili and English), as well as levels of literacy, unbanked, and mobile phone usage. But M-PESA in Tanzania did not grow on anything like the scale and scope of M-PESA in Kenya
  • M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Developed by the mobile telecommunications company Vodafone, M-Pesa was first a microfinancing solution promoting financial inclusion in East Africa.
  • ...2 more annotations...
  • Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope—focused on addressing issues of financial inclusion within the developing world. 
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      M-Pesa's niche market: microfinancing institutions and their clients.
  • The redesigned M-PESA system launched in Kenya in April 2007, growing rapidly through uptake and user innovation of new services. Now used by over 17 million Kenyans—which is more than two-thirds of the adult population—it is estimated that annually some 31% of the country’s GDP flows through it.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      - Important customer reach. - Facilitates the transfer of funds as 31% of the country's GDP flows through the platform.
  • mohammed_ab on 12 Feb 21
     
    I think that this article shows something very important that we should into consideration in our capstone research. It shows how the same service was launched in very similar African countries, yet the penetration and growth results were far from the same. It's important because it shows that if we want to use a fintech strategy followed by a foreign company to an African one, it could result in very bad consequences even if this same strategy works for the foreign company.
  • kenza_abdelhaq on 13 Feb 21
     
    "M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa. Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope-focused on addressing issues of financial inclusion within the developing world. "
ghtazi

Mukuru - ECP Investments - 0 views

www.ecpinvestments.com/...mukuru

Mukuru Funds Expenses

shared by ghtazi on 13 Feb 21 - No Cached
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects some important aspects of the company's operations and business model. 1- The customer segment: low and middle-income migrants in Africa. 2- What problem Mukuru helps to solve: it provides migrants who send money to their families through informal channels with a formal and regulated platform.
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This article shows us the customers that Mukuru is targetting which are low and middle-income migrants and help them to send or receive money to or from their families or surroundings by offering easy services that everybody can understand and proceed it even the illiterate people.
  • Founded in 2004, Mukuru has established a powerful brand affinity with customers built on trust, reliability, and local engagement. The company has grown to operate over 90 remittance corridors, enabling more than 5 million individuals to receive funds to cover living expenses, school fees, medical expenses, and utility bills. Mukuru is supported by world-class regulatory and compliance systems, highly scalable technology architecture, and a comprehensive sales and distribution network.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Mukuru was founded in 2004, and since then the company has built a trustful, reliable with its customers. the company enables more than 5 million individuals to receive funds to cover everyday expenses.
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

SmartelMoney | Home - 0 views

smartelmoney.com

Smartel Money E-payments Lesotho Kenya Fintech

shared by hibaerrai on 12 Feb 21 - No Cached
  • Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible - we are the most affordable option on the market
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      The smartelmoney is distinguished by its low costing feature. Obviously, these facilities need to be affordable for many people in order to benefit from them because they are meant to improve lives by enabling people to transfer money at a lower cost.
  • Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible. We are the most affordable option on the market.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      One interesting selling point of this fintech is that you can do all your money transfer and transactions with low costs. It's the cheapest option in Lesotho. The aim is to help consumers so that they can afford these kinds of services.
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.
mohammed_ab

An investigation of Safaricom M-Pesa strategies in enhancing mobile money transfer serv... - 0 views

erepository.uonbi.ac.ke/...59108

M-Pesa Mobile Money Africa Fintech

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The positioning of the M-Pesa product to capture the unbanked segment of the population especially in the lower income level bracket by providing a product that can easily and conveniently be accessed has made the M-Pesa become popular among the low income earners customers.
  • Strategies used by Safaricom to popularize the M-pesa product were an adoption of technology in the product development that has given it an edge over the other players. This has come about due to the increased investment in innovation and that employee’s use modern technology in their processes. The low cost strategy model also came out as yet another strategy that is used, Japanese concept of continuous improvement of a product or Kaizen, product differentiation through offering M-Pesa products with unique or superior value to the customer through product quality, features, or after-sale support.
  • mohammed_ab on 12 Feb 21
     
    I liked how M-Pesa positioned itself in the consumers who were unbanked and with little access to financial service. The company provided them with an easy to access solution to transfer money, which made the company very popular among the low-income community. It's also very interesting to see that the strategy used by the company was to use technology that allowed the service to work on non-smart phones.
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.
ayoubb

SmartelMoney | About Us - 2 views

smartelmoney.com/about

shared by ayoubb on 07 Feb 21 - No Cached
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world. We also aim to improve the quality of cloud computing (payment as a service) and interaction between computers and people to achieve their payment processes.
    • kenza_abdelhaq
      kenza_abdelhaq on 07 Feb 21
       
      Smartel Money Ltd provides a range of financial services (mobile payments,savings, lending, transfers) for different customer segments including banked and unbanked individuals and societies. It mainly uses cloud computing and the use of computers for payment processes.
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems.
    • aminej
      aminej on 12 Feb 21
       
      Smartel Money is a very competitive application in the market when it comes to E-payments services and many other products thanks to the very low costs and convenience in using the platform. They will also connect people in rural areas to different part of the continent and even the world in order to get access to funding and credit
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world. We also aim to improve the quality of cloud computing (payment as a service) and interaction between computers and people to achieve their payment processes. Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      The core element of Smartel Money is to provide a simple and reliable payment system and provide credit to the customer base whilst in that regard providing competitive prices around the clock.
  • ...2 more annotations...
  • SmartelMoney | About Us
    • ayoubb
      ayoubb on 13 Feb 21
       
      Smartel Money LTD
  • SmartelMoney | About Us
    • ayoubb
      ayoubb on 13 Feb 21
       
      Smartel Money LTD
  • mehdibella on 08 Feb 21
     
    There are 5 reasons why this company is being used: Low cost lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. they have kept fees as low as possible - they are the most affordable option on the market. Easy To use you get to use the platform that you are most comfortable with, app, USSD codes, or internet, no need to cram codes that run forever if it doesn't work for you. It's Convinient YOU CAN DO IT ANYTIME ANYWHERE Use My Wallet anytime anywhere for anything, money transfers, bills, airtime, groceries, fuel. See, easy! It's safe When you use my Wallet Services, you are not bound to any carrier, you can even use it without any carrier, bring your ID or passport. Secure Uses accredited national banking security and standards to protect your money whether you are transacting or not.
mehdi-ezzaoui

Capitec partners with EasyEquities to offer share trading in SA and US - 1 views

www.businesslive.co.za/...fer-share-trading-in-sa-and-us

Easyequities Service Africa

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • 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. ..
    • aminej
      aminej on 13 Feb 21
       
      It's good to see that different Fintechs are going into partnerships in order to develop more and improve their situations. Capitec wants to target more people and mostly high income who want to maximize more their profits by investing in Stocks and Bonds
  • 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
  • mehdi-ezzaoui on 13 Feb 21
     
    Capitec has added share trading to its portfolio after entering into a partnership with low-cost investment platform EasyEquities.
mehdibella

Credit scoring the unbanked - alternative solutions used in global markets | Penser - 0 views

www.penser.co.uk/...lutions-used-in-global-markets

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
    • hindelquarrouti
      hindelquarrouti on 13 Feb 21
       
      Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • ...4 more annotations...
  • JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
    • mehdibella
      mehdibella on 13 Feb 21
       
      They are currently active in six markets (Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan) with plans to soon launch in India, Bangladesh, Côte d'Ivoire and Nigeria.
  • This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data. This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface. JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
  • chaimaa-rachid on 12 Feb 21
     
    It makes a monetary identity and a financial assessment for low-pay people and organizations, who would then be able to get to reserve funds, credits through mobile phone.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    JUMO is a very interesting company that offers many important services like micoloans and insurance products. I believe that this company is doing a great business because of its variety of important services.
  • hindelquarrouti on 13 Feb 21
     
    Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • mohammed_ab on 13 Feb 21
     
    This article explains the procedures and technology used by JUMO in order to create a credit rating for its customers. This credit rating allows the company to know the amount of loan they can give to someone.
kenza_abdelhaq

Where preparation meets opportunity: How TPay Mobile put Egypt on the Fintech map | Ent... - 0 views

enterprise.press/...e-put-egypt-on-the-fintech-map

TPay Mobile Algeria context

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014. Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      The introduction of Tpay Mobile was in a context of high mobile adoption and low banking penetration, using telecom operators as a tool allowing payment.
  • kenza_abdelhaq on 12 Feb 21
     
    "In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014. Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day."
nourserghini

Cultural, religious barriers: Practitioners canvass indigenous approach to grow Africa ... - 0 views

www.businessamlive.com/roach-to-grow-africa-insurance

Bismart African insurance Kenya

shared by nourserghini on 13 Feb 21 - No Cached
  • From a larger context, Eunice Maina, the CEO of Bismart Insurance in Kenya, associated the low penetration of insurance in the east African country to the traditional nature of insurance practiced in Kenya.  She asserted that the largest economy in east Africa practices informal insurance resulting in the low penetration of the market.“Kenya practices informal insurance in the form of crowdfunding and that has affected the penetration rate,” she said. However, Maina is of the view that rather than adopting the European pattern, traditional insurance should be developed without having to deviate from the African model. She, therefore, solicited for the use of African perspective in developing insurance in the region as techniques to tackle cultural and religious barriers in the insurance industry.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article helps in understanding the reason behind the low penetration of the insurance market which is the practice of informal insurance and also shows that Bismart's CEO prefers to afix the problems of the African insurance rather than following the European model.
hibaerrai

WorldRemit launches new product for business payments to Ghana | Africanews - 0 views

www.africanews.com/...for-business-payments-to-ghana

WorldRemit Remittance E-payments

shared by hibaerrai on 13 Feb 21 - No Cached
  • WorldRemit’s low fees and exchange rates are shown up-front and customers can send money easily via the company’s website and app. By extending its money transfer service to SMEs, WorldRemit will save businesses time and money when they make international payments.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      WorldRemit transfer fees are quite low, and I believe that is caused by competition. In fact, banks provide the same services, however their fees are higher. So decreasing fees is a huge selling point for the fintech.
  • Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many pay, especially when sending to Ghana. We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business.”
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Low costs strategy is a winning strategy.
mehdibella

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

disrupt-africa.com/...e-secures-latest-funding-round

Fintech Farmdrive kenya funds

shared by mehdibella on 12 Feb 21 - No Cached
  • Kenyan agri-tech startup FarmDrive has accessed further financing as it expands operations to provide access to credit for three million smallholder farmers.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the investment from strategic investors enabled farmdrive to build financial identities for more smallholder businesses
  • Founded by Peris Bosire and Rita Kimani, FarmDrive delivers productive digital loans and lay away savings products to smallholder farmers in Kenya, helping them grow their incomes and resilience.
  • Having previously raised funding from the likes of Safaricom and EWB Canada, FarmDrive has now secured further investment. EWB Canada is again involved in the round, which also includes AK Impact Investors, 1 to 4 Foundation, ADAP Seed Fund 2, The Lakes Charitable Foundation and Sunu Capital.
    • mehdibella
      mehdibella on 13 Feb 21
       
      The follow-on investment will allow FarmDrive to scale to US$13 million of loan, with minimal losses and exceptional returns
  • ...4 more annotations...
  • Using a combination of agriculturally relevant data, Know Your Customer (KYC) data, and advanced behavioral analytics, the startup has developed a proprietary lending engine to extend loans to these farmers.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The relevant financial technologies behind FarmDrive.
  • The follow-on investment will allow FarmDrive to scale to US$13 million of loan originations in 2019 with minimal losses and exceptional returns using RiPe, a customisable lending engine that will allow lenders to plug in and access low-cost loan origination channels such as USSD, credit scoring, identity verification, and a portfolio management suite that includes recovery and collections, payments, customer support and advanced real time data analytics.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      FarmDrive is providing a range of services while focusing on its low-cost approach and maximizing its profit.
  • “We are delighted for this investment from strategic investors to enable us to build financial identities for more smallholder businesses and scale our low cost distribution model. We are going where banks haven’t reached and are creating a trust ecosystem in the most unstructured sector in sub Saharan Africa – Agriculture,” said Bosire.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      FarmDrive agritech has the potential to take over the banking system in sub saharan Africa as it provides more structured services.
  • Kenyan agri-tech startup FarmDrive has accessed further financing as it expands operations to provide access to credit for three million smallholder farmers.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      As I see it, Farmdrive needs and deserves all the financing it can get as it is creating a trust ecosystem in the most unstructured sector in sub Saharan Africa, which makes its operations extremely important.
samielbaqqali

WorldRemit Online Money Transfer - How It Works - 1 views

www.worldremit.com/...how-it-works

Worldremit Money Transfer

shared by samielbaqqali on 11 Feb 21 - No Cached
  • Why choose WorldRemit?We're SimpleNo need to visit an agent. Send 70 currencies to 130 countries, from your smartphone or computerWe’re SafeWe use industry-leading technology that protects your money and guarantees it arrives safely every time.We're Fast90% of our transactions are completed in minutesWe’re Low-costSee our low fees and our best exchange rates up front, with no hidden costs
  • We're SimpleNo need to visit an agent. Send 70 currencies to 130 countries, from your smartphone or computerWe’re SafeWe use industry-leading technology that protects your money and guarantees it arrives safely every time.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      I think that Fintechs's idea is to enhance our lifestyle and help us use fast services. WorldRemit provides a fast, successful and secure company, and by making it more creative, they can enhance their service.
  • hichamachir on 11 Feb 21
     
    The efficiency of WorldRemit is brilliant. I believe that the concept of Fintechs is to improve our lifestyle and help us use fast services. WorldRemit do provide a fast, efficient and safe business and they can improve their service by making it more innovative.
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.
samielbaqqali

The remittance industry is failing those who need it most - By Dr Ismail Ahmed, founder... - 1 views

africanarguments.org/...il-ahmed-founder-of-worldremit

Remittance Payment Algeria

shared by samielbaqqali on 11 Feb 21 - No Cached
  • The remittance market in Africa has for too long been monopolised by companies imposing very high fees that are on average three times those charged on remittances to Asia. They combine a pricing structure that imposes extortionate minimum charges with consistently poor services.
  • This has its roots in Western Union’s early activities in the African continent. As the first formal mover in the money transfer market, it worked to establish long-standing exclusivity agreements with all major African banks and money transfer agents, barring them from working with competitors. Such exclusivity agreements have propelled Western Union to a near-monopoly position in key African corridors, and have prevented the industry from being competitive.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      WorldRemit's founder claimed that the remittance industry is failing individuals who most need it. I believe that by offering low fees and gaining consumer confidence, WorldRemit will profit from this issue.
  • hichamachir on 11 Feb 21
     
    The founder of WorldRemit stated that the remittance industry is failing people who need it the most. I think that WorldRemit can benefit from this problem by providing low fees and gain customer trust.
ghtazi

Financial Services & Banking Technology | JUMO - 0 views

www.jumo.world

Jumo risks technology cost-effective

shared by ghtazi on 07 Feb 21 - No Cached
  • Get the ability to provide banking services to people who were previously unreachable, thanks to a lower cost of risk and the ability to accurately predict future behaviour.
  • Unlock the value of individuals’ digital footprints and power a generation of entrepreneurs, small businesses and communities with real financial choice.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      JUMO not only provides fast, secure, and cost-effective financial services, but it is able to give an opportunity to entrepreneurs who are new to the market to invest and make money.
  • Credit Our lending products give entrepreneurs quick access to funds or asset finance. The loan amount, life cycle and repayment method can be configured to fit the needs of the individual. Savings JUMO builds and operates short-term, structured and long-term savings products that bear interest. They’re available to anyone who needs a safe place to store and grow their money. Insurance JUMO is able to work with underwriters and insurers to create standalone or wrapped insurance products to safeguard incomes, families, assets and businesses, no matter how small. Points We’re developing a white label points programme that can be used as a tool to drive and incentivise mobile transactions and empower people to build a personal, digital financial profile.
    • ghtazi
      ghtazi on 08 Feb 21
       
      in this article, we can see all of the financial services that jumo is offering. they presented a new wave of financial products such as credit, saving, insurance, and points. this website shows us how Jumo has redefined the banking service for a mobile, digital age, and has built a full technology stack to create financial services for everybody.
  • ...2 more annotations...
    • aminej
      aminej on 09 Feb 21
       
      This website shows that JUMO is a service that provides insurance, savings and lendings to entrepreneurs in developping countries. There are five different types of services like credit, savings, insurance and points for loyal customers. It is a very safe service backed with advanced data engine and end to end banking technology. Finally, their main customer target are entrepreneurs and people who want to start their own business and who own a phone.
  • This cloud and AI-powered technology stack connects banks with traditionally inaccessible customers in cost-effective, low-risk and responsible ways. Today our partners deploy loans, savings and insurance services from Africa to Asia, helping entrepreneurs in emerging markets to grow and prosper.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this article, it shows that JUMO ensures security and low risks to its customer. it aims to deploy loans, savings, and insurance services from across the globe so that it can help entrepreneurs with their projects in emerging markets.
chaimaa-rachid

International Money Transfers - Send Money Online - 1 views

www.worldremit.com/en

low-fees technology protection

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • ow fees and our best exchange rates up front, with no hidden costs
  • We use industry-leading technology that protects your money and guarantees it arrives safely every time.
  • See our low fees and our best exchange rates up front, with no hidden costs
  • hindelquarrouti on 13 Feb 21
     
    Worldremit is smartly increasing and promoting financial inclusion by using industry leading technology in order to guarantee safe, fast, and cheap money transfers.
  • chaimaa-rachid on 13 Feb 21
     
    WordRemit services ensure protected, quick, and cheap money transfers.
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