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sawsanenn

Visa, Nigeria's Paga Team For Global FinTech | PYMNTS.com - 0 views

www.pymnts.com/...sa-nigeria-paga-global-fintech

Nigeria FinTech E-payments

shared by sawsanenn on 13 Feb 21 - No Cached
  • “We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well-aligned. As we scale our wallet across emerging markets such as Nigeria, Mexico and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us,” the company said in a press release.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I believe that this collaboration is a plus for both companies. It will help VISA to concur Africa and it will help Paga to reach new horizons.
  • Share Tweet Share Share Share EmailVisa is partnering with the Nigeria-based startup Paga to bring payments technology to Africa and abroad, according to reports on Monday (March 9).Paga has created a multi-channel network that enables more than 14 million Nigerian users to transfer money, make payments and shop digitally, either through its mobile app or via its 24,840 agents. The payments platform acts as a mobile wallet, giving users the power to electronically transfer money and make mobile payments.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it presents the user base of Paga, which amounts to 14 million Nigerians. The excerpt also briefly introduces the main services and products offered by the start-up.
  • Although Visa’s partnership with Paga doesn’t include a monetary investment, the collaboration aligns with the company’s strategy to expand across Africa and work with the continent’s top startups. The move is expected to drive larger payment volumes for both firms.“We want to digitize cash – that’s a strategic priority for us. We want to expand merchant access to payment acceptance and we want to drive financial inclusion,” said Otto Williams, head of strategic partnerships, FinTech and ventures for Visa in Africa. “Based on the partnership, we’re going to launch QR codes and NFC [payments] into the market in Nigeria – alternative ways of receiving payments than bringing out a physical card.”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the partnership between Visa and Paga and what that entails for the latter. The collaboration is expected to be a first move towards an expansion of Paga in the African continent, and as a great opportunity to further advance with the financial inclusion mission of Paga.
  • ...1 more annotation...
  • The partnership gives Paga account holders the ability to transact on Visa’s global network, and will also see both companies work together on technology developments. The arrangement will bring new merchant options to Paga’s network.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows the good side of this partnership which will bring new options to both companies
kenzabenessalah

Cassava Fintech International Launches Africa's first integrated Social Payments platfo... - 0 views

businesstrumpet.com/rated-social-payments-platform

Mobile Application Social media

shared by kenzabenessalah on 12 Feb 21 - No Cached
  • It combines instant messaging, social media and mobile payments into one App which will be available for download on Google Play and iOS app stores from 1 August 2019. A similar social payments platform model is already active in Asia, where payment apps are bundled with e-commerce, chat and ride-hailing services offered by firms such as Alibaba and Tencent in China. Imagine a WeChat of Africa!
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Instead of having an application for every service, Cassava has one application that contain messaging, payments, and social media. This is more efficient.
nouhaila_zaki

Fawry's market cap swells to over $2 billion - MENAbytes - 1 views

www.menabytes.com/fawry-2-billion

Fawry Egypt Stock Market Pandemic

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • ess than six months after becoming the first billion-dollar technology company in Egypt, Fawry has hit another milestone by surpassing the $2 billion market cap for the first time. Its stock has doubled in the last six months and closed at an all-time high of EGP 46.90 today, pushing its market cap to over EGP 32 billion. This makes it the fourth most valuable company listed on The Egyptian Exchange (EGX) and it seems that it’s only a matter of days before it takes the second position. The Egyptian payments firm had gone public in August 2020 by listing its shares on EGX at the price of EGP 6.46 per share. The share price has surged over 7x after company’s public market debut about eigtheen months ago.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Rapid Stock growth of Fawry after introduction in the Egyptian Exchange On August 2020. It is currently the fourth most valuable company listed in the EGX.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses Fawry's market cap which increased to $2 billion in 2021, thus becoming the fourth most valuable company listed on the Egyptian stock exchange. Fawry is also expected to take the second position in a matter of days.
  • Being the leading the electornic payments player in Egypt, Fawry is arguably the biggest benificiary of acceleration of digital payments there. It offers hundreds of electronic payment services through its network of over over close to 200,000 service points across Egypt – whcih include ATMs, mobile wallets, retail shops, post offices, and vendor kiosks. Fawry has introduced many new payments and lending products for both consumers and businesses over the last tweleve months and is apparently on additional new services too that are expected to be rolled out within the next few months.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Large network and diversified services related to payments makes Fawry the leading electronic payments player in Egypt and the only technology stock listed on the Egyptian Exchange.
  • Fawry is yet to announce the results for fourth quarter of 2020 but for the first nine months of last year, the company made about $57 million (EGP 892.7 million) in revenue, an 45.2 percent increase year-on-year basis. For the same period, it doubled its net profit (on a YoY basis) to $7.5 million (EGP 119 million). The company has been witnessing decent growth over the last few years but it seems that Covid-19 has accelerated it even further.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects how the covid-19 pandemic accelerated the growth and increased the net profit of Fawry.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is experiencing a drastic growth and it is becoming the leading electronic payments company in Egypt. It is benefiting from the acceleration of digital payments in Egypt.
kenza_abdelhaq

M-PESA Foundation - Safaricom - 0 views

www.safaricom.co.ke/...m-pesa-foundation

M-Pesa Kenya Payments Values

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • This is an independent charitable trust established to invest in interventions that improve the social and economic status of Kenyans. Since 2010, the Foundation has invested in large scale health, environmental conservation, education and integrated water projects. The M-PESA Foundation integrates the use of mobile technology in its investments while focusing on areas of greatest need and impact.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      M-Pesa is a socially responsible company giving large grants and investments to create lasting positive changes.
  • kenza_abdelhaq on 13 Feb 21
     
    "This is an independent charitable trust established to invest in interventions that improve the social and economic status of Kenyans. Since 2010, the Foundation has invested in large scale health, environmental conservation, education and integrated water projects. The M-PESA Foundation integrates the use of mobile technology in its investments while focusing on areas of greatest need and impact."
ghtazi

BezoMoney Technologies Limited - VC4A - 0 views

vc4a.com/...bezomoney-technologies-limited

BezoMoney fintech startup

shared by ghtazi on 27 Feb 21 - No Cached
  • Globally, two (2) billion people are unbanked, pushing them into extreme poverty and making them unable to manage financial emergencies. However, digital financial technologies present a unique opportunity to financially include the unbanked. Our mission is to leverage digital financial technologies to provide upward social mobility for the unbanked.
  • Our mission is to leverage digital financial technologies to provide upward social mobility for the unbanked.
  • BezoMoney is a fintech startup that provides digital financial products for the unbanked. Globally, two (2) billion people are unbanked, pushing them into extreme poverty and making them unable to manage financial emergencies. However, digital financial technologies present a unique opportunity to financially include the unbanked. Our mission is to leverage digital financial technologies to provide upward social mobility for the unbanked.
    • ghtazi
      ghtazi on 27 Feb 21
       
      BezoMoney is a direct competitor of Invest Mobile
samielbaqqali

'Human ATMs': M-Pesa and the expropriation of affective work in Safaricom's Kenya | Afr... - 1 views

www.cambridge.org/...6F3981007684F265530C7FEECC6813

M-Pesa Fintech ATM

shared by samielbaqqali on 12 Feb 21 - No Cached
  • This article explores the austere labour regime of Safaricom – Kenya's largest telecommunications firm and financial services provider – from the perspective of the women and men who work as ‘human ATMs’ for Safaricom's breakout service, M-Pesa. Far from women and men simply acting as ATMs, I argue that the affective and social labour of these people working at sites across the country constitutes a form of maintenance work that, while essentially free in Safaricom's accounts, critically underwrites the success of M-Pesa and Safaricom.
  • I argue that the work of ‘human ATMs’ constitutes both the ‘front story’ and the ‘backstory’ of contemporary modes of accumulation unfolding in Kenya. Their labour is formally exploited while broader forms of work required to build and maintain the social and material networks on which Safaricom depends are expropriated, forming the basis of new frontiers of accumulation. This process is mirrored in Safaricom's contemporary business strategy, which is premised on enclosing people's everyday habits and social networks in their digital forms as sites of innovation and market-making.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa has targeted people in need and solved their problems, which I believe is the aim of digitalization. Because of that, M-Pesa was successful.
  • hichamachir on 12 Feb 21
     
    M-Pesa targeted people in need and solved their problems which is the aim of digitalization in my opinion. M-Pesa got successful because of that!
mehdibella

Covid-19 - Morocco.pdf - 0 views

Fintech finance Morocco Dabadoc

shared by mehdibella on 11 Feb 21 - No Cached
  • #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.
    • samiatazi
      samiatazi on 11 Feb 21
       
      I am amazed to hear that a Moroccan start up ended up being one of the biggest companies operating not only in Morocco but also in Algeria and Tunisia, and doing their best to spread this positive impact through collaborating with some initiatives like 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.
  • For instance, the platform “DabaDoc “offers citizens the option to have a medical consultation online. Now this initiative0.959
hindelquarrouti

Mobile money: A product of choice for women to send and receive remittances - 2 views

www.ifad.org/...41410919

Worldremit Fintech females

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • Women constitute the majority of remittance recipients globally and remittances have an impact on both women’s actual income as well as on social normsRemittances are believed to directly touch the lives of 1 billion people globally, maintaining millions of receiving families above the poverty line with remittances often representing 60 per cent or more of household income.
  • Remittances are believed to directly touch the lives of 1 billion people globally, maintaining millions of receiving families above the poverty line with remittances often representing 60 per cent or more of household income. Globally, women represent almost half of the 258 million migrants and back home in the countries of origin, women represent the majority of remittance recipients.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      For people in need, WorldRemit has solved a big problem. It isn't just about women on the poverty line who can benefit from this program, but it can be done for anyone in need. I believe that programs that address social issues will easily win the trust of customers.
  • data from WorldRemit indicates that in 2014, 20.46 per cent of their female customers globally would use mobile money as payout mechanism compared to only 13.99 per cent of men.
  • ...1 more annotation...
  • First of all, mobile money is significantly cheaper than cash-based remittance services
  • hichamachir on 12 Feb 21
     
    WorldRemit solved a huge problem for people in need. It's not about just women who are in the poverty line that can benefit from this service, but everyone in need can do so. I think that services that solve social problems can gain customers trust easily.
  • hindelquarrouti on 13 Feb 21
     
    World remit has introduced an advantage by increasing convenience security, and privacy which has clearly helped a lot in including unbanked females as they are inclined toward this kind of characteristics.
tahaemsd

An alternative investment with WorldCover - 1 views

www.seedstars.com/...ernative-investment-worldcover

FinTech Africa Service modernization climate change

shared by tahaemsd on 11 Feb 21 - No Cached
  • 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
    • mohammed_ab
      mohammed_ab on 11 Feb 21
       
      WorldCover service offering is customer centric. It's interesting to see that the founder, Chris Sheehan, actually visited many farmers to clearly understand their problems in order to create a solution that fits perfectly their needs. The majority of these farmers were afraid of weather uncertainty which affects their crop. Being a financial nerd, Chris Sheehan saw the opportunity of providing a financial product ( parametric insurance) and created one of the greatest fintech companies.
  • WorldCover is a socially conscious alternative to traditional investment avenues. Started in 2015 by Chris Sheehan and Shiliang Tang, they have focused on using finance as a “tool for good in the world,” to prove “that businesses with inherently positive social impact can also grow rapidly and create wealth for investors.”
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover protects farmers from natural disasters, while giving investors diversified returns and direct social impact
  • samielbaqqali on 11 Feb 21
     
    In order to make the right decisions, the CEOS must meet with cutsomers in order to understand their problems.
hindelquarrouti

Full article: Institutional entrepreneurship and social innovation at the base of the p... - 1 views

www.tandfonline.com/...13662716.2017.1409104

M-PESA Strategy fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • M-Pesa development, and the strategies employed to engage with different actors in the financial services sector. Purposive theoretical sampling strategy (Strauss 1987Strauss, Anselm L. 1987. Qualitative Analysis for Social Scientists. Cambridge: Cambridge University Press.10.1017/CBO9780511557842 [Crossref], [Google Scholar]) was used to identify relevant sources of data both for the secondary data collection process and identification of informants for the interviews.
  • hindelquarrouti on 13 Feb 21
     
    In M-pesa, the strategy was implemented for the identification of relevant sources of data.
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. "
mohammed_ab

#40Days40FinTechs: JUMO is offering social impact financial products to the unbanked. |... - 1 views

money.hipipo.com/...ncial-products-to-the-unbanked

JUMO SME Emerging Markets

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The HiPipo chief executive officer Innocent Kawooya expressed his excitement about JUMO’s financial inclusion efforts, saying that its products are taking a lead in democratising lending and borrowing.“We are excited to interact with JUMO, a company that is enhancing financial inclusion in over 10 countries and serving more than 16 million customers.”
  • Reimagining finance in emerging markets by extending financial services to the underserved and the excluded has been JUMO’s goal since inception.
  • Reimagining finance in emerging markets by extending financial services to the underserved and the excluded has been JUMO’s goal since inception. This explains why it chose to specialize in social impact financial products where small businesses that are financially excluded can access loans and savings products.
  • ...1 more annotation...
  • During the same period, they have disbursed over $1 billion and record over 51 million interactions with customers monthly.  Over 120 million people have been connected to financial choices while the cost of transaction has been reduced significantly.
  • hichamachir on 12 Feb 21
     
    JUMO's great job made other companies to be proud of making a partnership with them. This is a good example of a successful company.
  • mohammed_ab on 13 Feb 21
     
    I like the service Jumo offers. The company provides loans to small businesses and SMEs that have difficulties accessing financial services. It's amazing to see the number of transactions they have made during one year.
ghtazi

Mukuru Adds Sign-Up Feature to WhatsApp - IT News Africa - Up to date technology news, ... - 1 views

www.itnewsafrica.com/...ds-sign-up-feature-to-whatsapp

Mukuru Transaction Control

shared by ghtazi on 13 Feb 21 - No Cached
  • By signing up for Mukuru via WhatsApp, users will be able to bypass the onerous task of submitting Know-Your-Customer (KYC) documents to an agent or Mukuru branch in person. Instead, they can submit documents directly to Mukuru’s verifications team. Mukuru will then provide timely feedback via WhatsApp as to whether a prospective customer’s ID documents have been effectively verified or not (and if the customer needs to take further steps). “Our customers already use WhatsApp extensively to create money transfer transactions (comprising more than 30% of our total monthly transaction volume in SA) so we are naturally extending self sign-up services on this channel,” says Jury. “This capability removes key barriers for our customers and increases accessibility to important financial services in South Africa and across our network. By harnessing our technology expertise and ability to innovate around customer pain points, we are boosting financial inclusion by allowing customers to submit their own KYC documents and gain access to higher limits.”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the importance of WhatsApp in the operations of Mukuru. 1- Whatsapp allows cheap KYC 2- Whatsapp is an extension of customer habits 3- Whatsappremoves barries to access financial services.
  • “Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      It is a good idea to use one of the most used social media application which is WhatsApp, it will be more easy for customers to make a payment or receive it. It is a good approach to make the transactions accessible and easy for everybody.
  • “Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”
    • ghtazi
      ghtazi on 13 Feb 21
       
      the introduction of Mukuru to social media is a great move since we live in an era where social media controls everything. it will also touch the z generation and will extend their target customers.
kaoutarchennoufi

GLC, Fawry cooperate to offer EGP 500 grants to painters - Fawry - 0 views

fawry.com/glc-fawry

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • GLC Paints is providing EGP 500 grants to construction painters through Fawry outlets across Egypt in an initiative to help those affected by the ongoing coronavirus (COVID-19) pandemic.The move by GLC Paints comes as part of its corporate social responsibility (CSR) programme. The company has also responded to government and social calls for private sector companies to support workers in the current conditions.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      The pandemic has negatively affected people in many ways. Social support is much needed during these tough times. Therefore, Fawry is providing 500 grants to painters across Egypt through Fawry outlets. Also, Fawry made the distribution of these grants very easy and efficient.Once a painter receives an sms he/she can go directly to the nearest Fawry outlet and collect his/her grant.
ghtazi

About Us - cassava fintech - 1 views

www.cassavafintech.com/about-us

Fintech E-payments Digital Banking E-payment

shared by ghtazi on 08 Feb 21 - No Cached
  • Cassava FinTech is a pan-African business using an integrated model to drive financial inclusion and digital transactions across the continent. Our core operations in Mobile Money, Social Payments Services, Digital Banking, International Remittances and Mobile Micro Insurance with presence in Zimbabwe, South Africa, Burundi, Lesotho and UK and partnerships in other African countries
    • ghtazi
      ghtazi on 08 Feb 21
       
      Cassava fintech is a Pan-African business, they try to use an integrated model to accelerate the continent's financial inclusion and digital transactions. the company has many innovative digital solutions: such as mobile money, social payments, payments services, digital banking, micro insurance, sasai.
  • hibaerrai on 08 Feb 21
     
    Financial inclusion is indeed the main aim of Cassava FinTech.
samielbaqqali

#40Days40FinTechs: JUMO is offering social impact financial products to the unbanked. -... - 0 views

www.digital-impact-awards.com/...ncial-products-to-the-unbanked

Financial services Fast Jumo

shared by samielbaqqali on 11 Feb 21 - No Cached
  • They use advanced data science and machine learning to create the fastest and leanest financial services infrastructure, according to Joel Muhumuza, the country manager JUMO Uganda.
  • samielbaqqali on 11 Feb 21
     
    Rapidity in the digital world is an important detail for businesses to encourage customers.
aminej

Dayra, an Egyptian fintech wins $15,000 grant from Y Combinator's Startup School - MENA... - 0 views

www.menabytes.com/dayra-yc-startup-school-grant

Fintech Online Service Mobile Transfer Money Platform Insurance

shared by aminej on 12 Feb 21 - No Cached
  • Share246TweetShareWhatsAppEmail246 SharesCairo-based fintech Dayra has won $15,000 grant from Y Combinator’s Startup School, becoming the first startup from the Middle East & North Africa to win it. The winners, most of which were from the United States, were announced by Y Combinator on Friday. MENAbytes also understands that there are at least three startups from the region that have made it to Y Combinator’s current accelerator batch (Winter 2020) that YC will reveal at its demo day in March 2020 – good few months for MENA at YC.
    • aminej
      aminej on 12 Feb 21
       
      It is amazing to see that North African Fintechs are also doing really well and even winning some competition and money to help develop themselves.
kenza_abdelhaq

Dubai fintech Tpay Mobile acquires Turkish payments company Payguru - 0 views

www.menabytes.com/tpay-mobile-payguru

TPay Mobile Algeria Acquisitions

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, “Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.”
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Four years after its creation, Tpay Mobile was acquired by Helios Investment Partner firm. To eliminate its competition, position its self as the leading digital payment platform in the MEA region and offer diverse and innovative services to their customers, Tpay Mobile acquired Cairo based rival DCBEgypt in 2017 and Payguru in 2020.
  • kenza_abdelhaq on 12 Feb 21
     
    "Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, "Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.""
nourserghini

Swvl's co-founder and former COO is building a fintech to offer commercial credit solut... - 0 views

www.menabytes.com/mahmoud-nouh-capiter

Capiter ML model Egypt

shared by nourserghini on 12 Feb 21 - No Cached
  • Capiter, according to its website, offers on-demand cash flow solutions to small businesses and vendors, paying vendors immediately for the goods they sell to small business buyers and then collecting payments from the buyers using flexible payment plans. There are not a lot of details on the website but it would be safe to assume that Capiter makes money by charging a fee, interest, or a combination of both from the small businesses using its solutions.
    • aminej
      aminej on 12 Feb 21
       
      I like this service provided by Capiter because it helps young entrepreneurs and SMEs to maximize their profit. Transactions between supplier and customer happen in a smooth way so that each one is happy. They still have some concerns when it comes to raising money but I'm sure they gonna make it because it is an innovative service that would help a lot of people
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article precisely describes how Capiter pays vendors immediately for the sold merchandise and collects small business' payments all while allowing a flexible payment and charging an extra fee or interest.
  • “Capiter’s unique technologies and sophisticated ML models empower businesses to increase their sales, grow their customer base and improve their cash flow,” the startup notes on its LinkedIn page.
    • nourserghini
      nourserghini on 13 Feb 21
       
      According to the startup notes, Capiter has a unique and sophisticated machine learning models that help it perform efficiently and increase their cash flows. It would be very interesting to discover the uniqueness of their model.
ghtazi

AV Ventures Invests in AgroCenta, Supporting Digital and Financial Inclusion of Ghanaia... - 0 views

www.acdivoca.org/...f-ghanaian-smallholder-farmers

Agrocenta COVID19 Security

shared by ghtazi on 12 Feb 21 - No Cached
  • AV Ventures, ACDI/VOCA’s impact investing subsidiary, recently completed its investment in AgroCenta, a technology-driven agricultural platform provider in Ghana. The funding made by AV Ventures is part of a US$790,000 pre-Series A investment round with other participating international institutions, including Shell Foundation, the United Kingdom’s Foreign, Commonwealth and Development Office, and Rabo Foundation, with support from AgroCenta’s strategic advisor, Qbera Capital.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      With the newly secured funding, agrocenta will widen the reach of its smallholder farmer financial inclusion programs
  • The digital services AgroCenta provides along the selected cereals value chain also improve the repayment of loans by smallholder farmers. The services provide farmers with an end market through the offtaking of produce and through facilitating the provision of high-quality agricultural inputs, which maximize their yields and productivity. To date, the average farmer on CropChain has increased their income by 35 percent and their crop yields by 40 percent, while reducing their food waste by 25 percent. AgroCenta has also made strides to promote gender and social inclusion; nearly half of its CropChain users and more than half of its microloan borrowers on LendIt are female smallholder farmers. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the results of using AgroCenta on smallholder farmers, ranging between the maximization of productivity, of income, reduction of food waste,to gender and social inclusion.
  • Founded in 2016, AgroCenta operates two integrated digital platforms in Ghana, CropChain and LendIt, to help address challenges related to smallholder farmers’ access to markets and financial services.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Since 2016, AgroCenta operates 2 digital platforms: - CropChain: integrated agricultural supply chain management platform. - LendIt: allowing access to financial services like mobile payments, microloans, crop insurance.
  • ...4 more annotations...
  • Poor infrastructure and logistics prevent many smallholder farmers in Ghana from accessing large, urban markets where they could obtain better prices for their crops. Many of these farmers lack information on fair market prices, which leaves them susceptible to selling at low prices to middlemen. Without a strong credit history, many of them also have limited access to finance for purchasing high-quality agricultural inputs that would enable them to scale beyond subsistent production.  
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt shows reasons why smallholder farmers should consider agrocenta to increase their profitability and their revenues
  • For AV Ventures, the investment is part of its long-term strategy of providing innovative and catalytic capital to support growth-oriented small- and medium-sized enterprises (SMEs) like AgroCenta that make up the “missing middle” of investment — too large for microfinance but too small or too early-stage to attract private equity investors. These SMEs are often the backbone of economies and potential drivers of innovation, but too often they miss out on financing that could enable their growth and longevity.  
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Agrocenta attracts more investors as it is considered among small and medium businesses that promote innovation. In fact, the fintech is specialized in agricultural loans, something not that common in the country.
  • CropChain is an integrated agricultural supply chain management platform that provides smallholder farmers with access to markets. Farmers use the platform to advertise their produce, while large offtakers or buyers of selected cereals use it to make purchases or enter long-term offtaker purchase contracts with AgroCenta. AgroCenta leverages the platform to source cereals directly from smallholder farmers to supply to large offtakers who have contracts with the company. This allows AgroCenta to earn margins between the price it pays farmers and the contractually agreed upon price with offtakers.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Agrocenta draws even more investment amongst SMEs that promote innovation. This extract shows some of the reasons why smallholders should consider Agrocentra for increasing the profitability and income .
  • “This is a significant milestone for AgroCenta, having the support of leading institutions, particularly with the COVID-19 backdrop, underlining the strength of AgroCenta and the importance of its mission. The demand for agricultural raw materials from offtakers in the brewery, manufacturing, and consumer sector is increasing exponentially because of the easing of COVID-19 restrictions that were put in place by the government of Ghana. Hence, this capital injection will help to secure purchases at fair and transparent prices from smallholders — a much needed lifeline for many who are at the proverbial bottom of the pyramid.”
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this excerpt, we can see how agrocenta takes the pandemic situation and what are the solutions that the company adopts to face it.
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