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kenza_abdelhaq

TPAY Mobile Acquires Payguru, the Leading Payment Platform in the Middle East - 0 views

thefintechtimes.com/nt-platform-in-the-middle-east

TPay Mobile Algeria Operations

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Mobile payments are a key payment method in the Middle East and Africa, used by over 50% of the population, most of which is underbanked, and TPAY MOBILE leverages direct carrier billing and wallet billing to unlock access to these customers across 24 countries for its merchant partners.TPAY MOBILE is currently present in Egypt, UAE, KSA, Palestine, Jordan, Qatar, Kuwait, Bahrain, Oman, Tunisia, Iraq, Algeria, Morocco, Turkey, Libya, Sri Lanka, Nigeria, Tanzania, Kenya, Ghana, Mozambique, Uganda, Zambia, and Zimbabwe.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Geographical scope of Tpay Mobile's Operations.
  • The Company is headquartered in the UAE, with teams based in Egypt. Our shareholders are – Helios Investment Partners , the leading Africa-focused private investment firm, and A15 , the Middle East’s leading tech investment fund.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile shareholders are African and Middle East leading firms.
  • kenza_abdelhaq on 12 Feb 21
     
    "Mobile payments are a key payment method in the Middle East and Africa, used by over 50% of the population, most of which is underbanked, and TPAY MOBILE leverages direct carrier billing and wallet billing to unlock access to these customers across 24 countries for its merchant partners. TPAY MOBILE is currently present in Egypt, UAE, KSA, Palestine, Jordan, Qatar, Kuwait, Bahrain, Oman, Tunisia, Iraq, Algeria, Morocco, Turkey, Libya, Sri Lanka, Nigeria, Tanzania, Kenya, Ghana, Mozambique, Uganda, Zambia, and Zimbabwe."
sawsanenn

Simbapay - Prime Bank - 0 views

www.primebank.co.ke/...simbapay

FinTech E-payments Kenya

shared by sawsanenn on 12 Feb 21 - No Cached
  • RECEIVE COUNTRIES Send money to recipients in these countries ASIA: China, IndiaEUROPE: Austria, Belgium, France, Germany, Italy, United Kingdom, Portugal, Spain, TurkeyAFRICA: Burundi, Rwanda, Tanzania, Uganda, MadagascarCOMING SOON: Canada, USA & Australia among other countries
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Countries that are recipients to SimbaPay
  • Send money to recipients in these countries ASIA: China, IndiaEUROPE: Austria, Belgium, France, Germany, Italy, United Kingdom, Portugal, Spain, TurkeyAFRICA: Burundi, Rwanda, Tanzania, Uganda, MadagascarCOMING SOON: Canada, USA & Australia among other countries
    • ghtazi
      ghtazi on 13 Feb 21
       
      Simbapay can send money to recipients in these countries: Asia, Europe, Africa coming soon: Canada, USA & Australia among other countries.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is good at introducing the countries that can receive money sent through SimbaPay. This also reflects the geographical scope of SimbaPay's operations.
  • Through SimbaPay’s international money transfer solution, you will now be able to send money directly to bank accounts or mobile wallets in 16 countries across Africa, Europe, and Asia, instantly and securely.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt introduces SimbaPay's international money transfer solution, launched after the partnership with Prime Bank. It also shows the initiative's scope of operations (16 countries from 3 different continents).
  • ...1 more annotation...
  • RECEIVE COUNTRIES Send money to recipients in these countries ASIA: China, IndiaEUROPE: Austria, Belgium, France, Germany, Italy, United Kingdom, Portugal, Spain, TurkeyAFRICA: Burundi, Rwanda, Tanzania, Uganda, MadagascarCOMING SOON: Canada, USA & Australia among other countries
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt shows countries that simbapay is working with, plus the countries that will soon join the company. It will allow them to attract new customers from east
ghtazi

African fintech startup Jumo raises $12.5M more to fund Asia expansion | TechCrunch - 0 views

techcrunch.com/...jumo-raises-12-5m

Tanzania Jumo Loans

shared by ghtazi on 13 Feb 21 - No Cached
  • African fintech startup Jumo has pulled in a fresh $12.5 million to add more fuel for its expansion into Asia Pacific.
  • Jumo specializes in social impact financial products, such as microloans, savings and insurance.
  • It started in Tanzania, and today claims to have originated more than $1 billion in loans.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Jumo started in Tanzania and claims that it has originated more than 1 billion loans. Jumo specializes in financial goods with social effects, such as microloans, deposits, and insurance. it was fonded in 2014
  • hindelquarrouti on 13 Feb 21
     
    After being successful in the African continent, Jumo is now expanding to Asia as it seems being a good fit for a company that is offering microloans.
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

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. "
sawsanenn

SA fintech breaks the $2.5-billion disbursement mark in Africa and Asia - - 0 views

ventureburn.com/...sement-mark-in-africa-and-asia

Financial inclusion FinTech Service Africa Asia

shared by sawsanenn on 13 Feb 21 - No Cached
  • Operating in Uganda, Zambia, Kenya, Ghana, Tanzania, and Pakistan, the fintech plans to expand its offering and service to Côte d’Ivoire and Nigeria. 
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO operates in Uganda, Zambia, Kenya, Ghana, Tanzania, and Pakistan. the company is thinking of expanding its activities to Cote d'Ivoire and Nigeria
  • Watkins-Ball comments on cost-effective technology used to collect information which strengthened the business model.  “When we founded JUMO, we were always clear that we can only achieve our mission by leveraging sophisticated information technologies at really low cost. The increase in our prediction capability decreases the cost of credit risk, allowing us to share more value with customers while driving sustainable returns for our bank partners.”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it touches upon the ways in which Jumo manages to satisfy its customers by proposing cheap services and products, while at the same time being profitable and generating sustainable returns for corporate partners (banks). The business model here is clearly stated.
  • We’re optimistic about the possibilities in these markets and continue to see huge growth opportunities in Africa, with the potential to replicate our successes in other markets over the longer term.”
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This estimation is possible because of the large use of smartphones nowadays in different ways. This habit developed also during the covid since we had to use our smart gadgets to fulfill our tasks.
sawsanenn

M-PESA | Innovations for Poverty Action - 1 views

www.poverty-action.org/...m-pesa

Financial inclusion Africa FinTech Service

shared by sawsanenn on 12 Feb 21 - No Cached
  • M-Pesa (M for mobile, pesa is Swahili for money) is a mobile-phone based money transfer and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Eastern Europe. M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Instead of going through the hassle of depositing or transferring money face to face, people can do that through a mobile device.
  • M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • ghtazi
      ghtazi on 13 Feb 21
       
      M-Pesa allows users that have a national ID card or passport to use their mobile phones either to transfer money, deposit, or withdraw easily and safely.
  • M-Pesa (M for mobile, pesa is Swahili for money) is a mobile-phone based money transfer and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Eastern Europe. M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      M-Pesa extended its business in different countries and in the different continent which allowed her to attract more customers and grew its business
mehdi-ezzaoui

Entrepreneurs from Ethiopia, Tanzania, Kenya, South Africa and Zimbabwe now fundraising... - 0 views

vc4a.com/...babwe-fundraising-on-vc4africa

Belcash banking payments

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • Belcash provides an ICT platform to banks and coordinates the roll out, with special focus on rural areas. LOI with local banks are signed for implementation. The project is advised by a former CEO of a large Dutch Development Bank and 2 international banks sit in the advisory board.
  • mehdi-ezzaoui on 13 Feb 21
     
    Participation of Belcash in the foundraising
mehdibella

M-Pesa - 0 views

www.vodafone.com/...m-pesa

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 12 Feb 21 - No Cached
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
  • It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services. Now, M-Pesa provides over 42 million people with a safe, secure and affordable way to send and receive money, top-up airtime, make bill payments, receive salaries, get short-term loans and much more.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Even if people do not have bank accounts, they can still use M-PESA because it allows them to have access to financial services through their mobile phones.
  • In early 2020, Vodacom & Safaricom completed the acquisition of the M-Pesa brand from Vodafone Group through a newly created joint venture. The joint venture will accelerate the growth of M-Pesa through Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-Pesa into new African markets
    • ghtazi
      ghtazi on 13 Feb 21
       
      after that Vodacom & Safaricom acquired M-Pesa brand from the Vodafone group, they created a new joint venture that will help M-pesa to grow across Africa, which I believe is a big opportunity for the group
  • ...9 more annotations...
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Thanks to its large Fintech platform, M-Pesa has managed to target both banked and unbanked people. Also, what distinguishes it, is that it does not require people to have a bank account in order to have access to its financial services, they only need to have a mobile phone.
  • In 2019, our 41.5 million active customers carried out over 12 billion transactions
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article states that M-pesa is the continent's leader in mobile money services with over 41,5 million customers from all over the continent.
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it defines M-Pesa as Fintech Platform, their services, and their customer target
  • Send and receive moneyDomestic transfers: M-Pesa customers can send money in real time to any other M-Pesa customer with an account registered in the same country. In most markets customers can now send money to mobile money users on other networks as well.International transfers: Through our international remittance partners, M-Pesa customers can receive and send money across borders in real time.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt describes the core services provided by M-Pesa, namely domestic transfers and international transfers.
  • LoansM-Pesa customers build a credit score that enables them to access loans via our bank partners. Products include M-Shwari and KCB M-Pesa in Kenya and M-Pawa in Tanzania. We work hard to ensure customers not only have access to credit but are also educated so they understand the implications of a loan.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This particular excerpt explains how M-Pesa provides underbanked/unbanked customers with access to loans that would change their lives and ameliorate their condition.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This page is important because it enumerates all of the different product and service offerings provided by M-Pesa, which is important to know in order to acquire a comprehensive knowledge and understanding of the company's actions.
  • What is M-Pesa?
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.  It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services.
  • Established on 6th March 2007 by Vodafone's Kenyan associate, Safaricom, M-Pesa is Africa's leading mobile money service with more than 430,000 active agents operating across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique and Tanzania.
  • chaimaa-rachid on 12 Feb 21
     
    This service permits clients to store cash into an account put away on their cell phone, and send it utilizing an individual recognizable proof number and secure SMS. This makes it conceivable to pay for products and services and to guarantee standard payments.
mehdibella

JUMO reaches 15 million customers across Africa and Asia - JUMO - 0 views

www.jumo.world/...stomers-across-africa-and-asia

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO reaches 15 million customers across Africa and Asia
  • JUMO has disbursed over USD 1.6 billion in funding and is growing its base of savings products. “By empowering MSMEs, we’re also positively impacting communities, families and employees. Technology is removing barriers to financial inclusion making it possible to responsibly provide everyone with access to good financial choices,” Watkins-Ball added.
  • “We are working to connect every entrepreneur to the financial products they need to grow and prosper,” says Watkins-Ball. “Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”
  • ...4 more annotations...
  • JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, is celebrating connecting over 15 million people to credit and savings in their six markets in Africa and Asia today.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has partnered with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • Founded in London in 2015, JUMO has partnered with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • Andrew Watkins-Ball, Founder & Group CEO, said this milestone demonstrates JUMO’s unique ability to reach underserved entrepreneurs – over 60% of JUMO’s customers are micro, small and medium-sized enterprises (MSMEs).
  • “We are working to connect every entrepreneur to the financial products they need to grow and prosper,” says Watkins-Ball. “Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”
  • chaimaa-rachid on 12 Feb 21
     
    JUMO is celebrating interfacing more than 15 million individuals to credit and investment funds in their six business sectors in Africa and Asia today.
  • hindelquarrouti on 13 Feb 21
     
    Jumo are strategically targeting unbanked entrepreneur in order to help them become part of the consumers of the financial product, and consequently develop themselves. It initially targets low-income classes and gives them the opportunity to grow and prosper
mbellakbail69

How project with London, NY financier led to JUMO serving 15m credit, saving users [Q&A... - 1 views

ventureburn.com/...jumo-15-million-users-q-a

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • JUMO claimed it has helped disburse over $1.6-billion in funding to small and micro enterprises and is growing its base of savings products.
  • JUMO currently partners with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • The International Finance Corporation (IFC) estimates that 40% of small and micro enterprises in the formal sector in developing countries have an unmet financing need of $5.2-trillion every year.
  • ...1 more annotation...
  • Earlier this month fintech startup JUMO — which was founded by SA entrepreneur Andrew Watkins-Ball in 2014 — celebrated a new milestone, having helped connect over 15 million people to credit and savings in their six markets in Africa and Asia to date.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      JUMO currently partners with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • chaimaa-rachid on 12 Feb 21
     
    JUMO is reaching especially micro-entrepreneurs and thus indirectly generating employment.
  • hindelquarrouti on 13 Feb 21
     
    Jumo has distributed over $1.6 billion to small and micro-enterprises. The company's recorded numbers can be related to the fact that according to the International Finance Corporation 40% of the small enterprises in the formal sector have an unmet financial need of around $5.2 trillion every single year.
ayachehbouni

Kenya's Family Bank partners SimbaPay for WeChat transfers - 1 views

www.finextra.com/...-simbapay-for-wechat-transfers

shared by ayachehbouni on 13 Feb 21 - No Cached
  • Family Bank Limited, a leading bank in Kenya, has partnered with London-based financial technology firm SimbaPay to launch an instant money transfer service from Kenya to China through WeChat – a service that will help boost Kenya-China trade. Over seven million customers and businesses in Kenya will now access SimbaPay’s international money transfer service to send money to China’s WeChat Pay from Family Bank’s PesaPap mobile banking application and USSD service. Non-customers too will enjoy the service via a dedicated PayBill number 261059 on MPESA.
  • In addition to the China (WeChat) service, SimbaPay also supports money transfer to Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Nigeria, Madagascar, Niger and India. 
    • nourserghini
      nourserghini on 13 Feb 21
       
      This is interesting because Family bank partnered with Simbapay to offer the Wechat money transfer service to china. Besides this, Simbapay also transfers money to Kenya, Uganda, Tanzania, Rwanda, etc.
  • China is Kenya’s biggest trading partner. In 2017 alone, businesses in Kenya imported well over USD 4 billion worth of goods from China. The current existing solutions for sending money to China take multiple days to reach the recipient’s bank account, with some requiring the supplier to physically visit an agent to collect their money. This new service easily overcomes these barriers.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      I believe that, with this new service increasingly effective, Kenya's traders can replenish stocks more quickly and thus improve trade with the two countries
  • ...1 more annotation...
  • With over 1 billion subscribers, WeChat is the largest payment and social media app in China. This initiative therefore connects Africa’s largest mobile money ecosystem to China’s largest payment service in real-time.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      I believe that the service born from this partnership is very unique and attractive to customers of both platforms as it offers the sender a chance to review the transaction and exchange rate applicable before releasing the payment.
  • mehdi-ezzaoui on 13 Feb 21
     
    Partnership with wechat to send money to China's WeChat Pay from Family Bank's PesaPap mobile banking application and USSD service.
mbellakbail69

South African fintech JUMO scooped up $55 million in funding - 0 views

www.businessinsider.com/d-55-million-in-funding-2020-2

shared by mbellakbail69 on 09 Feb 21 - No Cached
  • JUMO offers a wide range of services to users in emerging markets via partnerships with other financial institutions
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo delivers services to third parties in emerging markets using partnership with other financial institutions.
  • JUMO offers financial services infrastructure to third parties and has served over 15 million customers across countries, including Ghana, Kenya, Pakistan, and Tanzania, and it plans to use the fresh capital to launch new products and expand into new markets: It's set to launch in Bangladesh, India, Côte d'Ivoire, and Nigeria soon, per its website.
    • nourserghini
      nourserghini on 09 Feb 21
       
      The article shows that Jumo specializes in financial services infrastructure to third parties. It operates in African countries such as Ghana, Kenya and Tanzania.
  • South African fintech JUMO scooped up $55 million in funding
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo's original location is in South Africa.
  • ...8 more annotations...
  • And while JUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products, like loan products, to better close the financial inclusion gap in these regions.
  • JUMO's partners include Telenor and Telenor Microfinance Bank, with which it launched its first commercial product in Asia in 2018, and Tigo, Airtel, and MTN with which it offers short-term loans in Kenya, Zambia, and Uganda. With help of the latest funding, JUMO will be able to further boost such partnerships, and become a more dominant player in the financial services industries in emerging markets.
    • mehdibella
      mehdibella on 13 Feb 21
       
      jUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products
  • JUMO offers this technology stack to partners, including telecommunication firms and other financial institutions, to power their financial products and serve consumers via their respective platforms.
  • The fintech's technology stack includes a lending product that gives entrepreneurs quick access to funds or asset finance, and JUMO has so far disbursed over $1.8 billion in loans. It also provides savings options to clients, including short-term, structure, and long-term products, and works together with underwriters and insurers to create standalone insurance products to "safeguard incomes, families, assets, and businesses".
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO has already distributed 1.8 billion USD loans, it gives also the possibility to its users to have savings options to clients, including short term, structure, and long-term products. The company also ensures the creation of standalone insurance products.
  • JUMO's debt and equity round included participation from both new and existing investors, like Goldman Sachs, Odey Asset Management, and Leapfrog Investments, per TechStartups.com.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the nature of funding that Jumo secures whether through debt or equity; new or existing investors.
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because first it clearly states the business model of Jumo. Then, it discusses the possibilities of (geographical) expansion and diversification of offerings (more consumer products, loan options, bank accounts etc).
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt included the services that jumo offers, the business model, and some recommendation that the company should consider improving the platform
  • Additionally, only 27% of the population in Southeast Asia has a bank account, leaving a financial inclusion gap of around 438 million consumers. And we've seen fintechs that aim to close this gap attract significant investor interest in the past year: Investment in African fintechs increased by 155% from $111 million in 2018, to $283 million, while Southeast Asian fintechs saw funding surge of 69% from $588 million to $993 million over the same period, per CB Insights.
hibaerrai

WorldRemit Partners with Palawan Pawnshop in the Philippines to Let Filipinos Pick Up C... - 0 views

finance.yahoo.com/...hop-philippines-234900834.html

WorldRemit Algeria Remittance E-payments

shared by hibaerrai on 09 Feb 21 - No Cached
  • WorldRemit is a leading digital cross-border payments business. We disrupted an industry previously dominated by offline legacy players by taking international money transfers online—making them safer, faster, and lower-cost. We currently send from 50 to 150 countries, operate in 6,500 money transfer corridors worldwide, and employ over 1,100 people globally.On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up, and mobile money.
    • hibaerrai
      hibaerrai on 09 Feb 21
       
      WorldRemit started the year successfully with a new remittance partner in the Philippines (Palawan Pawnshop) expanding thus its activities in the country.
  • Backed by Accel, TCV, and Leapfrog—WorldRemit’s headquarters are in London, United Kingdom with regional offices in the United States, Canada, Australia, New Zealand, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe, and Belgium.
    • hibaerrai
      hibaerrai on 10 Feb 21
       
      WorldRemit is based in London but expanded in numerous countries all over the world namely in Africa.
nourserghini

African Digital Credit Goes West - 0 views

www.cgap.org/...rican-digital-credit-goes-west

Carbon Ghana Competitors

shared by nourserghini on 13 Feb 21 - No Cached
  • While CGAP could not confirm the profiles of borrowers in Ghana, experience in East Africa suggests that many are borrowing from formal lenders for the first time. JUMO, one of Ghana’s most successful digital lenders, also operates in Tanzania, where it found that 81 percent of its borrowers had never before borrowed from a formal financial institution. The ability to reach excluded customers and help them to build formal credit histories has always been touted as the promise of digital credit. And while more data are necessary before forming any conclusions about the potential impact of digital loans in West Africa, the results from Ghana are cause for optimism.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article is interesting because it gives insights on Ghana's digital lending situation which is the sector of operation of Carbon. Also, because it states that Jumo is Ghana's most successful digital lending service which means that it's a strong competitor of Carbon since they offer the same services in Ghana.
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.
mehdibella

Goldman Sachs cash confirms Jumo as fintech heavyweight - 1 views

www.theafricareport.com/...ms-jumo-as-fintech-heavyweight

Jumo Fintech finance SouthAfrica

shared by mehdibella on 11 Feb 21 - No Cached
  • Created in 2015 in Cape Town by Andrew Watkins-Ball, the company, which specializes in savings, loans and insurance for people and small businesses far from the traditional banking system, has raised $55 million (50 million euro) in debt and venture capital from the American bank.
    • samielbaqqali
      samielbaqqali on 11 Feb 21
       
      The company asked for a big amount from an American bank in order to perfect their investment.
  • Created in 2015 in Cape Town by Andrew Watkins-Ball, the company, which specializes in savings, loans and insurance for people and small businesses far from the traditional banking system, has raised $55 million (50 million euro) in debt and venture capital from the American bank.
  • The company has raised nearly $146 million since its creation from renowned players such as Google, which integrated Jumo into its accelerator in May 2017, the Mastercard foundation, development institutions such as Finnfund and Proparco (the private branch of the French Development Agency).
  • ...9 more annotations...
  • Goldman Sachs cash confirms Jumo as fintech heavyweight
  • By entering Jumo's final $55 million round of financing, the US bank Goldman Sachs is raising the South African fintech's profile
    • mehdibella
      mehdibella on 13 Feb 21
       
      the company has taken millions of dollars to secure the continuation of this project
  • Jumo is connected to continental telecom operators such as Tigo, Airtel, and MTN as well as traditional banks such as Letshego in Ghana and Barclays in Zambia, to integrate its offers with those of its partners.
    • mehdibella
      mehdibella on 13 Feb 21
       
      it made a lot of partnerships arround many companies that would make transactions easier
  • Since 2018, the start-up has partnered with Uber in Nairobi to provide drivers with access to loans for the purchase of cars based on their rating and with flexible repayment options.By 2019, the start-up, claimed to have provided more than $bn in loans to 15 million customers, and to employ 300 people across 11 countries.
  • Since 2018, the start-up has partnered with Uber in Nairobi to provide drivers with access to loans for the purchase of cars based on their rating and with flexible repayment options.
    • ghtazi
      ghtazi on 13 Feb 21
       
      this is once again a smart move from jumo, they diversify their activity, which can be more than benefic for them.
  • Jumo is already active in Ghana, Kenya, Pakistan, Tanzania, Uganda, and Zambia and has representation in Cape Town, New Delhi, London, Mumbai, Nairobi, Porto, and Singapore, where its founder is now based.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt introduces us to the geographical scope of Jumo, which appears to be pretty large (in Africa and Asia).
  • By 2019, the start-up, claimed to have provided more than $bn in loans to 15 million customers, and to employ 300 people across 11 countries.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it gives us a measurement of how active Jumo is in providing customers with loans (one of their products). It also gives us an idea about the size of the company (300 employees accross 11 countries).
  • Jumo is connected to continental telecom operators such as Tigo, Airtel, and MTN as well as traditional banks such as Letshego in Ghana and Barclays in Zambia, to integrate its offers with those of its partners. Since 2018, the start-up has partnered with Uber in Nairobi to provide drivers with access to loans for the purchase of cars based on their rating and with flexible repayment options.
  • With this new round of financing — its fourth since April 2018 — the company, which targets emerging markets and is part of the very select club of African start-ups active beyond the continent’s borders, now intends to conquer Côte d’Ivoire, Nigeria, as well as Bangladesh and India
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this countries can bring new options to jumo, not only new customers but also new services. These new entrances can bring to Jumo high revenues as well
  • hichamachir on 12 Feb 21
     
    JUMO is opting for a good strategy which is doing a partnership with Google. Partnerships with giant companies like google are always beneficial because they offer you great technology and a big capital to improve your business.
  • mohammed_ab on 13 Feb 21
     
    I like the way JUMO chose its partners in the telecommunication industry. Partnering with MTN that is the first telecom operator in Africa and also a big fintech advocate is a good decision for JUMO to grow.
ayachehbouni

Family Bank, SimbaPay Launches Instant Money Transfer to China Over WeChat - 0 views

technext.ng/...nt-money-transfer-china-wechat

shared by ayachehbouni on 13 Feb 21 - No Cached
  • This is not the first cross border transfer initiative by SimbaPay. The London-based company supports more cost-effective and efficient transfer of funds across Africa and Asia (11 countries – 9 African, 2 Asian). These are Nigeria, Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Madagascar, Niger, India and now China.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article proves that Simbapay is known for its strategic initiatives in international transfers from 11 countries in Africa and Asia.
  • SimbaPay developed a third-party payment aggregator that enables funds delivery between Kenyan merchants and their largest source of imports, China. Through SimbaPay’s international money transfer service, merchants and individuals in Kenya would be able to send money to China’s WeChat Pay users from Family Bank’s PesaPap mobile banking application. This can be achieved through M-Pesa and a USSD service
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This partnership allows for a faster and fa less expensive exchange between China and Kenya.
mehdibella

South African lending startup Jumo raises $12.5 million - 0 views

www.finextra.com/...tartup-jumo-raises-125-million

Jumo Fintech finance SouthAfrica

shared by mehdibella on 11 Feb 21 - No Cached
  • CEO of Jumo, Andrew Watkins-Ball, comments: “We have a proven business model, evidenced in the strategic partnerships we have built with forward-thinking banks, mobile money operators and partners like Uber."
  • Since launch in 2014, more than 10 million people have saved or borrowed on the Jumo platform, with nearly 70% of these being micro and small business owners across Africa and Asia. To date, the company has originated almost US$1 billion in loans and maintained savings growth of over 50% month-on-month on its platform, which manages over 45 million customer interactions per month.
  • South African lending startup Jumo raises $12.5 million
  • ...2 more annotations...
  • Jumo currently has offices in Kenya, Uganda, Tanzania, Ghana, Zambia, Pakistan, United Kingdom, Singapore and South Africa. It set up its Asia Pacific headquarters in Singapore earlier in the year and has plans to enter several new Asian markets in 2019.
  • Since launch in 2014, more than 10 million people have saved or borrowed on the Jumo platform, with nearly 70% of these being micro and small business owners across Africa and Asia. To date, the company has originated almost US$1 billion in loans and maintained savings growth of over 50% month-on-month on its platform, which manages over 45 million customer interactions per month.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO secured another funding round of US$55 million to support market and product expansion.
  • samielbaqqali on 11 Feb 21
     
    The business model is one of the bases of a company success, and making a partnership with a brand name like Uber would increase the number of customers.
  • chaimaa-rachid on 12 Feb 21
     
    Through this article, we notice a lot of people have used the JUMO platform and they are happy with it. The company is ready to enter many new Asian markets since it has been successful in different countries.
mehdibella

Latest News on M-Pesa | Cointelegraph - 0 views

cointelegraph.com/m-pesa

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Latest News on M-Pesa | Cointelegraph
  • M-Pesa is Kenyan mobile, phone-based payment service provider for the mobile companies’ customers. M-Pesa is a money transfer service that, additionally, provides financing and micro-financing operations. The company was launched in 2007 by the two largest mobile network operators in Kenya and Tanzania. In 2013, M-Pesa in Africa became available for money transfers in Bitcoin, which are very popular among Kenyan and other African countries’ citizens due to their national currencies’ hyperinflation. Initially, M-Pesa was developed for Kenyan and other African citizens who don’t have access to ATMs or bank accounts to send or receive money, but the service has now reached Afghanistan and some European countries.
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