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chaimaa-rachid

Women | Kiva - 0 views

  • Worldwide, women have much less economic opportunity, security, and freedom. Support women starting their own businesses, going to school, and investing in the health of their communities and families.
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    I love the way Kiva thought about helping women. Most of the time, women have difficulty obtaining contractual loans to start their own projects.
mbellakbail69

JUMO wins UNCDF's Sprint4Women Design Competition in Zambia - UN Capital Development Fu... - 0 views

  • UN Capital Development Fund (UNCDF) is pleased to announce that JUMO has won their Sprint4Women Design Competition for women’s financial inclusion in Zambia. JUMO was one of three finalists competing for a grant to roll-out digital financial services (DFS) solutions for the rural women of Zambia, alongside Fenix Zambia and Hobbiton Investments.
  • JUMO wins UNCDF’s Sprint4Women Design Competition in Zambia - UN Capital Development Fund (UNCDF)
  • JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
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  • Jumo scored highest of the three companies and will be awarded a $85,000 grant once the UNCDF grant review process is completed.
  • JUMO partners with forward-thinking funding and data/distribution partners to deliver digital financial services and will be working with Absa Bank Zambia PLC and MTN Zambia to provide these improvements.
    • mehdibella
       
      Jumo won many awards all over the worlds and grants that will help it as a company to grow and expand its business into other countries
  • As one of the first providers of non-collateral-based, digital lending products that can make funds available in minutes, JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
  • To win the competition, the companies needed to demonstrate: that their product fits the needs of rural women, how they would increase the number of women customers signing up for and using DFS, and that the company could scale their product to at least 30,000 new customers, with at least 60% of them being women.
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    JUMO's social work is a brilliant idea because it's a key to win customers heart. Also, expanding to other African countries with the idea of improving their lifestyle can only be beneficial for the company because people of that country are going to spread positive word of mouth about the company.
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    I like how JUMO is helping businesswomen in Zambia to access lending products to run their business. Women suffer a lot from the lack of financial inclusion, and with JUMO, we can fight this phenomenon.
kaoutarchennoufi

HEYA fawry Initiative - 0 views

  • Heya- fawry is an initiative in collaboration with arab women enterprise fund, Baheya, AXA and unilever to empower women, increase their opportunities in the financial market and help them to climb up the financial inclusion pyramid in Egypt Fawry as the leading e-payment network in Egypt is supporting poor and disadvantaged women by training them to become Heya fawry-agents, providing POS machines offering them complementary micro-insurance coverage. Ultimately, this initiative will allow poor unbanked women to have access to life-enhancing financial services (mobile top-ups, bill payments, money transfers, microloan payments, as well as essential nutrition and healthcare goods) directly via their nearest Fawry’s agents to raise income for them and their families and to enhance the well-being of the society. Fawry’s main aim is “to ensure that women access our services in the same extent as men do”
    • kaoutarchennoufi
       
      It is very appreciable and significant to see big cooperates thinking about women and their desires and putting on actions to help them achieve their dreams. Fawry has launched the"Heya-Fawry initiative in order to empower women by encouring them to become Fawry's agents so that they can provide them with different kinds of help such as insurance coverage, POS machines... This is very exceptional!
kenza_abdelhaq

AgroCenta CEO on the Challenges of Entrepreneurship in Ghana - 0 views

  • Does being an entrepreneur in Ghana – and in a developing economy in Africa – presents any ulterior challenges you had overcome?Being an entrepreneur in Africa and in emerging markets, in general, is quite difficult because of the lack of structure and supports put in place by the government. It requires a lot of courage and persistence to get the simplest things done. Any simple tech solution that you might want to build can end up being a very complex challenge because it relies on services that do not exist or don’t work properly. Access to funding also remains a big problem for many entrepreneurs who will need money to test, pilot and scale a platform or a solution. Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
    • nouhaila_zaki
       
      This excerpt is important because it reflects the challenges faced by AgroCenta in Ghana, i.e. corruption, lack of financing, lack of proper infrastructure, lack of government help, among other things.
  • Our business model is simple, we are a B2B business that generates commission fees on trade volumes from the businesses we work with.
    • nouhaila_zaki
       
      This excerpt is extremely important because it clearly states the business model of the company.
  • we are definitely improving the financial livelihood of smallholder farmers through fair trade. Many smallholder farmers are paid less than $1 a day and our objective is to increase it to $4 a day by 2020.
    • kenzabenessalah
       
      AgroCenta is an extremely important concept because it is helping to increase farmers' salaries. Going from $1 a day to $4 a day is already an improvement.
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  • AgroCenta focuses on 3 key impact goals for Ghana:No Poverty: Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • mehdibella
       
      as you can see this company cares a lot about the livelyhood of their farmers and is trying to provide them only with the best features that would make life easier which in fact the main things that they tackle in the SDGs.
  • Seedstars Summit has been phenomenal. It has put AgroCenta on a pedestal and in the spotlight of a huge community in Africa. The experience after the Summit has been amazing: we received a lot of proposals from potential investors, partners and other service providers keen on working with us for growth and expansion.
  • Winning the vote of the entire jury, AgroCenta from Ghana was crowned the Seedstars Global Winner of the 5th edition of Seedstars Summit. At Seedstars, we are convinced that AgroCenta will shape the future of AgriTech in Africa. Indeed, the start-up’s mission is to improve the financial livelihood of smallholder farmers through fair trade.
    • aminej
       
      Agrocenta will have a great impact on farmers in Africa since it will enable them to protect their production and have an insurace in case of any risks. It will also help them regulate the market of agricultural products in order to set a price for each one
  • We identified a missing gap in the value chain that was the capacity to access the market for smallholder farmers after they have successfully cultivated their commodities. Access to the market was a huge problem for millions of smallholder farmers.
    • kenza_abdelhaq
       
      AgroCenta is fulfilling a market gap that is the need for smallholder farmers to access the market.
  • AgroCenta focuses as well as Seedstars on achieving the Sustainable Goals set up by the UN
    • sawsanenn
       
      one of the main goals is to reach economic growth by empowering smallholders farmers to see agriculture not only as a survival solution but as an investment
  • Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • hibaerrai
       
      Agrocenta main goals are the following: first and the most evident one no poverty especially for farmers who are not paid enough. second, gender equality and finally economic agricultural development within the country.
  • A great team for sure! Our major strength has been a team made of people with diverse backgrounds and experiences and a deep understanding of the agricultural value chain. This asset allowed us to save a lot of time we would have naturally spent on trying to fine tune and launch the AgroCenta platform. Thanks to that we avoided making the common mistakes many new and unexperienced founders make.
    • ghtazi
       
      what we can understand is that having a great team is the key asset that led to the rapid growth of Agrocenta. cross-cultural team has been a plus for the development of agrocenta. it helped the company to save time and avoid making common mistakes that many new and inexperienced founders make.
  • Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
hindelquarrouti

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

  • 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
       
      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.
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  • First of all, mobile money is significantly cheaper than cash-based remittance services
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    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.
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    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.
chaimaa-rachid

Kiva (organization) - Wikipedia - 0 views

  • As of October 2017, 81% of Kiva's loans have been made to women.[19] Kiva emphasizes supporting women because women can gain the most from microcredit. Patriarchy and a strict division of labor still dominate the societies of many developing countries, and women often suffer the most from poverty because scarce resources are often allocated to a family's males, rather than its females.
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    As it is known that when a woman wishes to create or develop her own business, the chances of obtaining a business loan are strongly against her. So Kiva is now helping women make their dreams come true.
chaimaa-rachid

GSMA | Mobile money: A product of choice for women to send and receive remittances | Mo... - 0 views

  • Women constitute the majority of remittance recipients globally and remittances have an impact on both women’s actual income as well as on social norms
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    WorldRemit has presented a favorable position by expanding security and protection which has plainly helped in including unbanked women.
mehdi-ezzaoui

Pula Wins Women's World Banking FinTech Innovation Challenge's "Making Finance Work for... - 1 views

  • FinTech Innovation Challenge “Making Finance Work for Women 2019” Award! Pula is an agriculture insurance provider for smallholder farmers in African emerging markets lead by CEO and cofounder Rose Goslinga. They are radically restructuring agricultural insurance, using technology to insure the previously unbanked, uninsured, untapped market of 1.5 billion smallholders worldwide.
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    Pula win the Women's World Banking FinTech Innovation Challenge "Making Finance Work for Women 2019" Award
chaimaa-rachid

About | Kiva - 0 views

  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
    • aminej
       
      Kiva is an interesting platform that offers very interesting funding access to people in different areas of the world. It would enable them to either start a new business or improve theirs. There are already 1.9 million lenders which is quite huge and a repayment rate of 95.9% so I believe that it is really developped.
  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
    • kaoutarchennoufi
       
      Kiva is a very impactful organization since it financially helps students and women who want to start their own business. It is well known that these two categories usually face difficulties to contract loans or get any financial service. We need more organizations like Kiva all around Africa.
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  • Kiva started as a pioneer in crowdfunding in 2005, and is constantly innovating to meet people’s diverse lending needs. Whether it’s reinventing microfinance with more flexible terms, supporting community-wide projects or lowering costs to borrowers, we are always testing and learning.
  • We envision a financially inclusive world where all people hold the power to improve their lives.
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    I love the concept of Kiva where you can see technology helping people in their lives. The company aims to link borrowers with lender in order to improve the lifestyle of the people interested in this service. I just like the way Fintech plays a big role in improving our life and Kiva is just a good example of it.
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    Kiva provides attractive access to funding individuals to improve their lives.
mbellakbail69

AgroCenta CEO on the Challenges of Entrepreneurship in Ghana - 0 views

  • AgroCenta focuses on 3 key impact goals for Ghana:No Poverty: we are definitely improving the financial livelihood of smallholder farmers through fair trade. Many smallholder farmers are paid less than $1 a day and our objective is to increase it to $4 a day by 2020.Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • mbellakbail69
       
      AgroCenta is primarily a digital food and logistics network that generates shared value for local companies and small farmers. Their  business model is simple; it's a B2B company that earns commissions from the companies they deal with for commercial transactions.
samielbaqqali

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

  • 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
       
      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.
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    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!
mehdi-ezzaoui

Lending Marketplace Lendio Provides $500,000 in Microloans to Women Owned Businesses in... - 1 views

  • Kiva is a non-profit lending platform well known for its microloan service targeted underserved markets globally. Lendio states that the program has now provided over $500,000 in microloans to business owners worldwide, 98% of whom are female. Lendio first launched the program in 2016. The company describes the program as part of its commitment to entrepreneurship and inclusivity. Lendio provides a microloan to a low-income entrepreneur for every new loan facilitated on its marketplace platform. This voluntary employee-contributed, employer-matched program reports a 94% participation rate among Lendio employees.
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    The importance of Kiva of empowering those business owners and knowing we're helping them keep their passion with offering microloans
kenzabenessalah

FarmDrive: Connecting farmers to financing | Mercy Corps - 0 views

  • While financial inclusion in the country has increased, many farmers remain excluded. Limited financing for farmers is due, in part, to a lack of available credible risk-assessment information for financial institutions. Many small farmers are unbanked and off the financial grid, without credit profiles to verify or back up details on their annual income, business expenses or yields.
    • tahaemsd
       
      Without thiis information, farmers are left with little to no access to financial services, while lenders miss out on the opportunity to build their client base and agricultural loan portfolios.
  • FarmDrive generates real-time credit reports for small farmers, allowing them to access loans from financial institutions and agricultural input providers via mobile phone. 
  • FarmDrive collects expense and revenue data from farmers via SMS and combines it with satellite imaging, remote sensing technology and alternative data points (e.g., soil analysis, weather forecasts) to create detailed yield estimates and assess credit risk.
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  • FarmDrive overlaps our focus areas of agriculture and financial inclusion, empowering the world’s most vulnerable farmers with the digital financial services they need to strengthen and improve their livelihoods. 
    • mehdibella
       
      FarmDrive collects expense and revenue data from farmers and combines it with satellite imaging, remote sensing technology and alternative data points to create detailed yield estimates and assess credit risk.
  • We’ve connected FarmDrive to various partners and expertise to help them scale, as its usage increases in other developing markets in sub-Saharan Africa. 
  • Reports allow credit providers to make informed lending decisions and easily reach rural clients, expanding access to financing for small farmers. As a result, farmers have greater control over their livelihoods – equipped with what they need to increase their crop yields, improve their incomes and invest their additional revenue back into their families and communities.
    • kenza_abdelhaq
       
      FarmDrive collects data from farmers using different technologies which allows the company to generate farmers' credit reports which allow loan providers to make informed decisions and therefore give more access to financing to small farmers.
  • Since, FarmDrive has reached hundreds of farmers with its suite of financial services, credit reports and financing options, with a particular focus on serving women and youth farmers typically neglected by the formal financial system.
    • kenzabenessalah
       
      The focus that FarmDrive has on serving women is essential to keep in mind. We must dig deep as to why they are being neglected by the financial system and make sure that they never get fooled by them in the future.
  • In Kenya, most small farmers — around 7.5 million — lack access to small loans to help them buy what they need to improve their production and make the most of their land – things like quality fertilizers, better seeds, livestock and micro-irrigation.  
    • kenzabenessalah
       
      Knowing the percentage of the population who do not own bank accounts as well as the percentages of loans that others have access to is a must to help improve the economic situation in Kenya. Such details, like interest rate, etc. are essential in helping people construct a well structured economic strategy so that all Kenyans benefit from these financial services and never fall back again.
nourserghini

Bismart Insurance | DO4AFRICA - 0 views

  • Created in 2017, Bismart is a leading Kenyan insurance aggregator, leveraging on digital platforms and technologies to connect customers to the best insurance and investments solutions available in the market. It offers clients education and the ability to compare and buy premier insurance and investment solutions at the convenience of their palms. Bismart secured incubation from Standard Chartered and Strathmore University’s Women in Tech Programme.
    • nourserghini
       
      This article explains Bismart's business and also informs about an incubation of Bismart from Standard Chartered and Women in Tech program at Stathmore University which can be helpful for further research.
mohammed_ab

0% Interest Small Business Loans | Kiva - 1 views

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

Kiva Receives USAID Design Funding to Structure Innovative $100M Fund to Support 1 Mill... - 0 views

  • Kiva has been awarded $2.5 million from the W-GDP Fund at USAID in an effort to identify innovative approaches to catalyze commercial investment for women’s economic empowerment and equality.
  • The Kiva Capital team will use this innovative funding to launch a comprehensive fund design and structuring process. This will include the development of an impact framework and a shared learnings platform.
kenza_abdelhaq

Finalists Named for the 2020 TAG Fintech South Innovation Challenge - TAG Online - 0 views

  • Applications were submitted by companies across the region. The 10 finalists include: Artis Technologies, LLC – modern financing made simple through an embedded financial services platform for digital lending and real-time payments EnrichHER – offers funders the best selection of vetted investment opportunities in companies that have women in leadership roles, while cultivating a thriving ecosystem of New Majority businesses Ethiopay – safe and convenient way to pay loved ones’ bills from anywhere in the world Finosec – IT and cybersecurity management platform for the banking industry Griffin Technologies – customer intelligence platform that provides banks modern day context on new and existing customers Immediate – helps businesses recruit, engage, and retain employees by providing a financial wellness solution that delivers on-demand access to earned pay InvestGuard – technology-enabled exchange for independent PE sponsors Lendsmart AI – AI-enabled technology platform transforming the homebuying process Ryze – Bitcoin-first financial institution, starting with the most powerful way to save and accumulate Bitcoin VIVA Finance – improving employees’ financial well-being through an affordable lending program and financial education
  • At the conclusion of the program, the startups will present to a panel of investors during Fintech South’s Investor Preview event on Monday, Oct. 5. The top three companies will hit the virtual conference’s main stage for a chance to win $25,000.
    • nouhaila_zaki
       
      This article is important because it shows that Ethiopay uses competitions in order to 1- Get financing, 2- Earn regional and international recognition for winning a prestigious competition, 3- Use this competition as a marketing opportunity.
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  • Ethiopay – safe and convenient way to pay loved ones’ bills from anywhere in the world
    • ghtazi
       
      ethiopay is in the top three companies that will hit the virtual conference's main stage for a chance to win 25 000 dollars. which shows us how Ethiopay is invested in what it's doing.
  • Technology Association of Georgia (TAG)  announces 10 startups selected for the Fintech South Innovation Challenge 2020 class. Beginning Sept. 3, the companies will participate in a four-week virtual Education and Mentoring program, which aims to accelerate early stage fintech companies in the region through instruction and mentoring
    • kenza_abdelhaq
       
      Ethiopay is selected as a finalist for the 2020 Fintech South Innovation Challenge.
mbellakbail69

WSA IMPACT STORIES AGROCENTA | WSA - 0 views

  • Since 2017, AgroCenta has successfully completed two rounds of funding to the tune of $750,000 to expand operations in Ghana. In 2017, AgroCenta won the Seedstars Global Competition against other 72 startups from emerging markets across the globe. AgroCenta has grown its farmer base to 45,000 providing additional services of access to finance for smallholder farmers, bringing smallholder farmers onto the financial sector to enjoy services such as crop insurance, micro lending/input financing, mobile payments through mobile money and finally pensions schemes targeted at farmers and beneficiaries in the informal sector with special attention to women and youth. Since 2017, AgroCenta has helped over 28,000 farmers sell over 20,000MT of commodities to large, medium and small scale buyers across the country.   In December 2018, AgroCenta won a grant of $250,000 from GSMA Ecosystem Accelerator Fund to further build its financial inclusion platform AgroPay targeted at rural smallholder farmers.
    • mbellakbail69
       
      This start-up in agriculture has an impact and works towards zero starvation. Farmers make more profits by directly selling the goods to the off-taking companies and the company agrees to bring the products in a record time from point A to B, by passing intermediaries and paying wide price ranges.
nouhaila_zaki

M-Pesa: a Mobile Money success story from Kenya - Technology and Operations Management - 0 views

  • Given the up-front costs of acquiring agents, it is tempting for mobile money providers to want to take short cuts and minimize the agent-to-customer ratio. However, this does not set an individual agent up for success. If Safaricom were to recruit too few agents, customers would find M-Pesa difficult to use and difficult to access.. On the other hand, if there were too many agents, many of them would not be able to generate enough business to cover the cost of managing their e-cash and cash liquidity. As a result, they would stop maintaining their electronic money float and cash balances. M-Pesa’s success lies in the fact that they grew their agent network at the same pace as their customer base, keeping transactions per agent per month steady at around 1,000 / agent / month.
  • According to a McKinsey report on Mobile Money, proximity of nearest agent makes a significant impact on transaction volumes. “When a cash agent is more than 15 minutes away, mobile money has relatively little appeal, and customers use it once or twice a month. But when the agent is less than 10 minutes away, usage rises to 10 times a month—and for those within 2 minutes of an agent, to 30 times a month.” Safaricom spread its agents out across Kenya so as to truly enable network effects and enable Kenyans to send e-cash to their family members and friends even if they did not live in the same geography.
  • Customers who sign up for the M-Pesa service can convert between e-cash and real cash (these are called cash-in / cash-out transactions), and can transfer e-cash from their account to that of another account holder via SMS.
    • kenzabenessalah
       
      M-PESA gives people the option of converting their e-cash to real cash which is not the case in most services.
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  • Customers who sign up for the M-Pesa service can convert between e-cash and real cash (these are called cash-in / cash-out transactions), and can transfer e-cash from their account to that of another account holder via SMS. Cash-in / cash-out operations take place at one of many designated M-Pesa retail outlets, also known as “agents”. These agents are not employed by Safaricom, but are simply retailers / regular businessmen and women that are ‘authorized’ to trade e-cash for real cash.
    • ghtazi
       
      m-pesa is a company that allows its customers to convert between e-cash and real cash.
  • Although some of M-Pesa’s initial success could be attributed to a uniquely favorable context for mobile-payments (strong customer need, welcoming regulatory environment, support from banks, strong brand awareness of Safaricom), its rapid and sustained growth was only possible due to a thoughtful operating model design, particularly regarding M-Pesa’s “agent network.”
    • nourserghini
       
      M-pesa's success goes back to its advantageous situation in Africa as well as it successful operating model design.
  • Revenue from transaction fees that Safaricom collects via the agent during cash withdrawal operations and transfer operations (depositing money into mobile wallet is free). Reduce Safaricom customers’ churn, improve engagement, lifetime value etc.
    • sawsanenn
       
      This excerpt shows the business model that M-pesa follows and thier values
    • nouhaila_zaki
       
      This excerpt is important because it reports the two ways in which Safaricom makes value through M-Pesa: on the one hand revenues from transaction fees collected via agents, and on the other hand, the reduction of Safaricom customers' churn.
  • Safaricom pays commission to its “agents”, usually on a monthly basis, based on metrics such as transactions per branch, customers per branch, and quantities transacted, etc. Because it takes agents a couple months to ‘ramp up’ at their branch by attracting M-Pesa customers and convincing them to start transacting, the business model of M-Pesa incurs significant up-front costs and is one of the reasons many mobile-money deployments fail in the early days. Mobile-Money becomes profitable only when it goes viral. According to a McKinsey report, to make mobile money for the unbanked commercially viable, operators and telco’s like Safaricom “must sign up 15 to 20 percent of the addressable market.”
    • nouhaila_zaki
       
      This excerpt describes M-Pesa's business model, which consists of paying commissions to agents, incurring significant up-front costs and relying on mobile-money to become viral for success.
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    I think that it's interesting to see that agents are playing a vital role in the success of M-Pesa in Kenya. The company knew about the costs related to acquiring agents, but they also knew that recruiting too few agents will kill the solution M-Pesa is providing. In addition to that, M-Pesa tried to spread its agents all over Kenya to make their solution available and easy to access anywhere in Kenya.
mehdibella

Kenya's FarmDrive Receives Additional Investment Led By Existing Backer - 0 views

  • This FinTech startup founded by two Kenyan women is positioned to reach 3 million smallholder farmers in Kenya in the next 5 years.
  • FD uses mobile technology, predictive modelling, AI and a customer first approach to democratize access to loans to all farmers; ensuring farmers can apply for a loan from any type of phone and receive a decision on their loan application in seconds. FD has achieved this by building multiple channels of access and a fully automated lending process.
  • Previously, FD received $50,000 USD of early-stage seed funding from EWB Canada to develop their platform and prove to financial service providers that smallholder farmers are profitable clients.
    • mehdibella
       
      In the last 4 years, FD has seen that their loans increase the productivity and incomes of farmers and has led to reduced costs, increased scale, and improved quality of agricultural portfolios for lenders.
  • ...2 more annotations...
  • In the last 4 years, FD has seen that their loans increase the productivity and incomes of farmers and has led to reduced costs, increased scale, and improved quality of agricultural portfolios for lenders.
  • FarmDrive (FD), a Kenyan startup set to unlock millions of dollars in loans for smallholder farmers in Kenya and sub-Saharan Africa, received a follow-on investment from EWB Canada last month, with participation from AK IMPACT INVESTORS, 1 to 4 Foundation, ADAP SEED FUND 2 and The Lakes Charitable Foundation.
    • kenza_abdelhaq
       
      FarmDrive received financing from different global parties.
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