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hibaerrai

Fawry Makes Bill Payment Easier for Egyptians | Middle East/Africa Hub - 2 views

newsroom.mastercard.com/...l-payment-easier-for-egyptians

Fawry Egypt E-payments Online Fintech Security

shared by hibaerrai on 11 Feb 21 - No Cached
  • This innovation not only simplifies consumers’ lives, but allows more merchants to become a part of the electronic payments cycle, giving them the opportunity to safely conduct transactions and appeal to consumers who prefer not using cash. We have seen significant growth rates, and have managed to reach up to 1 million transactions per da
  • When we founded Fawry, an electronic bill payment and presentment company, we were very aware of the gap between card usage and the limited acceptance points in Egypt. Our aim was to extend acceptance channels beyond the traditional card acceptance points to make life easier for consumers in Egypt.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      People have considered Fawry's facilities to be very convenient. We can save precious time by using online payments and it also offers ease of use.
  • Fawry’s service is playing a key role in revolutionizing the payment industry in Egypt, a country where only 10% of the population of 85 million people has access to formal banking services.
  • ...2 more annotations...
  • Fawry’s service is playing a key role in revolutionizing the payment industry in Egypt, a country where only 10% of the population of 85 million people has access to formal banking services
  • We started our operations in early 2010 when Fawry enabled convenient and secure bill payments through a single, unified electronic network. Today, the Fawry network is comprised of 40,000 payment service points, including bank ATM machines, Egypt Post offices, pharmacies, supermarkets and convenience stores.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      As Fawry's main goal and purpose is to make financial transactions safer and easier for the customers, I believe that it is bound to gain a larger customer base overtime; new users are attracted by companies and services that put the clientele's best interest as a priority.
  • chaimaa-rachid on 11 Feb 21
     
    People have found Fawry's services to be very convenient. By using online payment we can save valuable time and it also provides ease of use.
  • hindelquarrouti on 13 Feb 21
     
    When Fawry was first established they were well aware of the gap between using card and using online payments, yet they manage to create acceptance for their service. They showed their customers in Egypt that it is much easier using online payments. And now they are revolutionizing the payment industry in Egypt.
sawsanenn

Paga Definition - 0 views

www.investopedia.com/...paga.asp

FinTech E-payments Nigeria competition

shared by sawsanenn on 13 Feb 21 - No Cached
  • In order to prevent fraudulent transactions, Paga has put certain measures in place to protect its users. A user logging into an unrecognized device, for example, will have to answer a couple of security questions before proceeding. Again, every transaction using Paga has to be finalized with a personal PIN known only to the user.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga has placed such steps in place to protect its users in order to discourage fraudulent transactions. For example, a user logging into an unrecognized computer would have to answer a few safety questions before continuing. Again, with a personal PIN is known only to the user, any transaction using Paga must be finalized.
  • With Paga, customers are able to deposit and save money, purchase prepaid phone credit, pay utility and cable bills, and make payments to retailers. The partnership between Paga and Western Union also has the added benefit where Western Money transfers sent to users can be deposited into their Paga accounts.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses Paga's offerings fist, before moving to how Paga's partnerships, here with Western Union, helped the fintech improve its offerings.
  • Paga was introduced in Nigeria to take advantage of the cash buildup in the system and to create a means whereby financial services are available to all. Although the banking sector in Nigeria is not easily accessible to everyone, the telecommunications industry has been more successful in reaching a large portion of the country’s population. The collaboration of both the banking and telecom sector has given rise to mobile banking platforms like Paga, where a user can perform basic financial transactions with the use of a cellphone. Paga works through a mobile phone application or online through the company’s website.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it narrates the context in which Paga emerged. The combination of a large unbanked/underbanked population and high accessibility to telecommunications contributed to the establishment and subsequent success of Paga n Nigeria.
  • ...1 more annotation...
  • A number of other mobile wallet and payment service platforms are increasingly being implemented in emerging nations that have a high percentage of unbanked groups. M-Pesa, MTN Mobile Money, Airtel Money, and Orange Money are examples of mobile banking applications that are being employed to include all people in the growing digital financial sphere.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt talks about companies that strated to offer the same services as paga which made them competitors to paga
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.
samiatazi

TPAY | Helios Investment Partners | Helios Investment Partners - 0 views

www.heliosinvestment.com/tpay

Tpay Algeria Fintechs MEA

shared by samiatazi on 08 Feb 21 - No Cached
  • Helios completed the acquisition of a 76% stake in TPAY, a fast growing direct carrier billing provider in the Middle East and North Africa from A15, a leading tech investment fund based in Egypt. With offices in Cairo and the UAE, TPAY currently operates across 16 countries with almost half of its total transaction volume coming from African markets such as Egypt, Tunisia, Algeria and Morocco.
    • mehdibella
      mehdibella on 08 Feb 21
       
      here we notice that TPAY is ruling over the MEA region
  • TPAY provides a much-needed mobile payment solution in markets with low banking penetration and high mobile adoption.
    • mehdibella
      mehdibella on 08 Feb 21
       
      we can clearly understand that it is providing a huge solution for those in need of a banking system and cannot access it.
  • Helios completed the acquisition of a 76% stake in TPAY, a fast growing direct carrier billing provider in the Middle East and North Africa from A15, a leading tech investment fund based in Egypt. With offices in Cairo and the UAE, TPAY currently operates across 16 countries with almost half of its total transaction volume coming from African markets such as Egypt, Tunisia, Algeria and Morocco.
    • samiatazi
      samiatazi on 13 Feb 21
       
      here we notice that TPAY is ruling over the MEA region we can clearly understand that it is providing a huge solution for those in need of a banking system and cannot access it
  • ...1 more annotation...
  • Helios completed the acquisition of a 76% stake in TPAY, a fast growing direct carrier billing provider in the Middle East and North Africa from A15, a leading tech investment fund based in Egypt. With offices in Cairo and the UAE, TPAY currently operates across 16 countries with almost half of its total transaction volume coming from African markets such as Egypt, Tunisia, Algeria and Morocco.
aminej

FarmDrive Raises Funding to Help Africa's Smallholder Farmers Get Finance with Credit S... - 0 views

agfundernews.com/-credit-scoring-algorithm.html

Kenya Online Fintech Mobile Agriculture Farmers Funds

shared by aminej on 13 Feb 21 - No Cached
  • So far, 3,000 farmers have registered with FarmDrive, borrowing over $130k in loans. That’s a tiny portion of what’s needed across Africa where 65% of the workforce is involved in agriculture, but less than 1% of bank loans go to the industry. And globally there’s a $450 billion funding gap in agriculture, according to FarmDrive.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      FarmDrive is fulfilling a market gap by providing loans and access to financing to farmers who represent 65% of the workforce in Africa.
  • FarmDrive, a Kenyan data analytics startup helping smallholder farmers in Africa access credit from local banks, has raised funding from the venture arm of Safaricom, the biggest communication company in East and Central Africa, Safaricom Spark Venture Fund.
    • aminej
      aminej on 13 Feb 21
       
      More and more companies are raising funds for agricultural fintechs since they are realizing that agriculture is very important mostly during crisis period. Also, small holder farmers need protection and investments in order to maximize their profit
  • kenza_abdelhaq on 13 Feb 21
     
    "So far, 3,000 farmers have registered with FarmDrive, borrowing over $130k in loans. That's a tiny portion of what's needed across Africa where 65% of the workforce is involved in agriculture, but less than 1% of bank loans go to the industry. And globally there's a $450 billion funding gap in agriculture, according to FarmDrive."
mehdi-ezzaoui

​Belcash Technology Solutions PLC - 2 views

www.belcash.com/about

Belcash platform Online

shared by mehdi-ezzaoui on 11 Feb 21 - No Cached
  • Though each Hello brand represents a different service, they all share one key feature - the mobile phone is the access point for their service.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      What's important about BelCash and the e-payment industry is that mobile phones are the key access points for the services to be maintained.
  • Belcash is the proprietor and provider of the 'Hello' brand. We attempt to find the perfect fit for our customers and partners. This heavy focus on customer service, innovation and professionalism means that our stakeholders are proud to identify themselves with us
  • mehdi-ezzaoui on 13 Feb 21
     
    the services that Belcash offers to customers and solutions
ayachehbouni

Kenyan Startup FarmDrive Uses Data Analytics to Connect Unbanked Farmers to Financial S... - 0 views

techweez.com/...ve-connecting-unbanked-farmers

shared by ayachehbouni on 13 Feb 21 - No Cached
  • In its next phase of algorithm development, FarmDrive seeks to expand the environmental arm of the algorithm by incorporating more alternative data-sets, including satellite imagery and remote sensing data. They are currently engaging with Planet, a satellite company from Silicone Valley, and The Impact Lab, a Chicago-based data analytics firm to analyze the possibilities of using satellite images in predicting a farmer’s creditworthiness.In addition, FarmDrive also plans to use these environmental data-sets, in combination with crop cycle data to predict seasonal yield and influence agricultural insurance products.The startup also uses machine learning in generating the farmer’s profile by learning from the farmer’s input. Data points about the farmer’s behaviour, education level, and their interaction with the app are all analyzed to contribute to the farmers profile score.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      FarmDrive employs different advanced methods to predict a client's creditworthiness. They also conduct psychometric tests to figure out their clients' characters. This makes the process professional and the customer base monitored.
  • Smallholder farmers, especially in Kenya face difficulties when it comes to accessing loans and financing from banks and other financial institutions. The agricultural sector is the backbone to Kenya’s economy, yet banks have very little incentive to work with farmers.
    • aminej
      aminej on 13 Feb 21
       
      FarmDrive use very advanced data analytics to evaluate the credit risk of farmers across Africa in order to help them access investments and funds. They use algorithms developed by their own team which is really good
  • FarmDrive founded in 2014 has built an innovative solution that provides “detailed risk profiles of smallholder farmers to financial institutions”. FarmDrive does this through a credit score, generated by an algorithm developed by the team, in-house. The algorithm relies on data-sets collected from the farmers through their mobile phones, alternative data and machine learning.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      The agricultural sector is crucial to Kenya. Yet, farmers have a very hard time getting loans from banks. Hence, as it helps in this aspect, Farmdrive might as well be saving the backbone of the country.
ghtazi

Mukuru unveils shopping discount initiative for South Africa-based customers - Intellig... - 0 views

www.intelligentcio.com/...r-south-africa-based-customers

Mukuru customers benefits

shared by ghtazi on 13 Feb 21 - No Cached
  • The discounts will be available on over 60 staple products (such as canned items, household cleaning products, maize meal, baby products, dairy products, etc.) and the discounts will be valid at any Shoprite and Checkers store in South Africa. Mukuru customers simply have to create and pay for their orders on the Mukuru platform to receive access to the discounts. Customers then access the codes on the Mukuru self-help platforms such as USSD and WhatsApp and present the codes at the Shoprite and Checkers stores to claim the discounts off the selected products. “We are always looking for ways to recognise and reward our loyal customers, and the Mukuru Shopping Discounts are a great way in which we can pass valuable savings on to our customers by funding the discounts ourselves,” said Andy Jury, CEO, Mukuru.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Mukuru proposed lately different discounts to thank their loyal customers. This is a brilliant idea as it will mke them use their services more, and also help them have more savings to cope with south africa's lockdown.
  • Most importantly, the Mukuru Shopping Discounts initiative will help customers and their families achieve savings at a time when many are still recovering from the economic fallout of South Africa’s lockdown. “As a company, we are with our customers side by side through both the good times and the difficult ones, and we are well-positioned to continue innovating and to provide important benefits to our loyal customers around the world.”
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      the initiative of shopping discount will not only help their customers but also attract more clients which will increase their customer portfolio
  • Having helped our customers send money home to their family and friends for over 14 years, we feel part of their daily lives and as a result, Mukuru is constantly engaging with customers and adding tangible value wherever and whenever we can. We are able to leverage both partnerships and technology to pass important benefits on to our customers and to reward them for their loyalty and engagement over so many years,” added Jury. “
    • ghtazi
      ghtazi on 13 Feb 21
       
      Mukuru wants to help customers to help their families in order to get closer to them, which I think is a kind and helpful idea. thanks to their partnerships and technologies they are able to pass important benefits to their customers to thank them for their loyalty and engagement.
hibaerrai

nellyelewa, Author at The Thndr blog - 0 views

thndrapp.blog/nellyelewa

Thndr Egypt Fintech

shared by hibaerrai on 13 Feb 21 - No Cached
  • At Thndr we believe that everyone should have access to financial services and that means access to different products that can make your money work for you.  That’s why we’ve partnered up with Azimut, one of Europe’s leading independent asset managers to bring you the new Egypt-focused fixed income mutual fund AZ-Savings. AZ Savings is one of the first funds of its kind, where you can invest in daily certificates that you can redeem weekly—no more liquidity worries.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Thndr is aiming to associate with numerous investment platforms in other countries to exchange securities and currencies.
nouhaila_zaki

M-Pesa - Wikipedia - 0 views

en.wikipedia.org/M-Pesa

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 12 Feb 21 - No Cached
  • M-Pesa is a branchless banking service; M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA is unique because it offers branchless banking which makes transactions more efficient.
  • It has since expanded to Tanzania, Mozambique, DRC, Lesotho, Ghana, Egypt, Afghanistan and South Africa. Meanwhile services in India, Romania, and Albania have been terminated amid low market uptake. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      I like this excerpt because it describes where M-Pesa has successfully expanded and where the company's expansionist efforts failed.
  • M-Pesa is widely seen as demonstrating that it is possible to make a profit while also improving the lives of the poor.[28] Tavneet Suri, based at the Massachusetts Institute of Technology, and William Jack, based at Georgetown University have produced a series of papers extolling benefits of M-Pesa. In particular, their 2016 article published in "Science" has been very influential in the international development community. The much cited result of the paper was, that 'access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.[29] Global development institutions focusing on the development potential of financial technology frequently cite M-Pesa as a major success story in this respect, citing the poverty-reduction-claim and including a reference to Suri and Jack’s 2016 signature article. In a report on "Financing for Development", the United Nations write: "The digitalization of finance offers new possibilities for greater financial inclusion and alignment with the 2030 Agenda for Sustainable Development and implementation of the Social Development Goals. In Kenya, the expansion of mobile money lifted two per cent of households in the country above the poverty line."[30]
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reports on academic research describing how M-Pesa is the living example of how the search for profit is not antithetical to inclusion and improvement of lives of the poor. Using M-Pesa as a case study, several researchers praise fintech for its ability to offer greater financial inclusion.
mehdi-ezzaoui

SimbaPay unleashes Pan-African remittances chatbot - FinTech Futures - 1 views

www.fintechfutures.com/...an-african-remittances-chatbot

SimbaPay Kenya payments service

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • The chatbot will also enable 24/7 instant customer service for its customers across Africa and Europe. Daniel Howard, CTO for SimbaPay, says: “Another major objective we achieved with the chatbot service is that it also works without internet. This means customers with a mobile phone, even a basic phone without internet access, can access the SimbaPay chatbot using SMS.” Together with Interswitch, SimbaPay says its B2B division offers its instant remittance technology to banks and telcos who want to provide their customers with the service. To send money with an SMS users need the recipient’s phone number and the chatbot will automatically obtain the recipient bank account or mobile money details.
  • mehdi-ezzaoui on 13 Feb 21
     
    The chatbot will also enable 24/7 instant customer service for its customers across Africa and Europe.
mehdi-ezzaoui

SimbaPay launches purely SMS-based Money Remittance option for Feature Phone users powe... - 1 views

innov8tiv.com/nce-option-feature-phone-users

SimbaPay Kenya payments service

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • he London-based digital money transfer services SimbaPay has now launched a new money remittance services that will purely operate via SMS. That means even people with no internet and using just a feature phone can now use SimbaPay to send or receive money. This is a huge step for the company, as it now enters a bigger pool of users, both with smartphones plus internet access combined with those without smartphones and/or not internet access. The new SimbaPay SMS money remittance services went live yesterday, and now users from around the world can use the service on any device from anywhere via the good-old SMS. The new SMS service is powered by artificial intelligence that has seen SimbaPay integrate a chatbot at the other end of the user.
  • mehdi-ezzaoui on 13 Feb 21
     
    new feature in simbapay service
mbellakbail69

Prime Bank launches a international money transfer service, SimbaPay - Intelligent CIO ... - 0 views

www.intelligentcio.com/...oney-transfer-service-simbapay

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • “Through our digital platforms, we aim to make available a one stop solution to our customers in terms of funds transfer and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones,” added Kantaria.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Customers need only to log into the bank's mobile banking app "primemobi" and click on international money transfer icon. After that, the sender's bank account will be debited and money credited to the beneficiary instantly.
  • “Businesses, as well as Kenyans and expatriates with friends and family abroad, send over US$18 billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the Simbapay network. Therefore, this service will offer Prime Bank’s customers a world-class fully digital international money transfer service,” added Karanja.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Having a world-class fully digital international money transfer will be a plus for the African countries. Since businesses, Kenyans, and expatriates with family and friends abroad, send over 18 billion US dollars. With the collaboration of the two companies, people will feel more secure to send their money.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      A complete online international money transfer would be a bonus for African countries to have a world class. Since Kenyan businesses and expatriates send out over US$18 billion with family and friends abroad. The partnership of both businesses will ensure that people are safer in sending their money.
  • Prime Bank’s Director for Business Development, Vijay Kantaria, said the tier 2 lender has embarked on investment in technology through partnering with various FinTechs to accelerate its digital integration plan.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      it is a good initiative to extend the digital world and bring more people into it
  • ...2 more annotations...
  • To access the service, customers will need to log in to the bank’s mobile banking app – PrimeMobi, then click on International Money Transfer icon on the homescreen. After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      The easy access allows customers to transfer money internationally using a single account in homescreen.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      A complete online international money transfer would be a bonus for African countries to have a world class. Since Kenyan businesses and expatriates send out over US$18 billion with family and friends abroad. The partnership of both businesses will ensure that people are safer in sending their money.
ayachehbouni

Kenyan bank launches mobile payments service | ALB Article - 1 views

iclg.com/...unches-mobile-payments-service

shared by ayachehbouni on 13 Feb 21 - No Cached
  • The service will allow customers to send money to bank accounts and mobile wallets in 15 countries, including Uganda, the United Kingdom, India, China and Germany. SimbaPay previously set up a similar service for transfers to Asia with Kenya’s Family Bank in 2018. Africa has been among the most prominent regions for fintech development as users, banks and technology companies have bypassed traditional banking to embrace mobile banking and payment services.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      This partnership with a Uk based company shows that Africa has become the predominant region of the fintech industry. As customer, bank and technology firms have overtaken conventional banking to include mobile banking and payment services,
  • SimbaPay head of operations Victor Karanja said in a statement: “Businesses as well as Kenyans and expatriates with friends and family abroad send over USD 18 billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the SimbaPay network.”
  • ...1 more annotation...
  • A partnership with a UK-based company will give Prime Bank customers in Kenya access to mobile payments. Nairobi-headquartered private bank Prime Bank has taken a further step into the fintech market by launching an international money transfer service, in collaboration with London-headquartered company SimbaPay.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      this service will give the possibility to customers to transfer money to bank accounts and mobile wallets in 15 countries. Once again, this is a partnership that will make simbapay's customer base increase.
  • mehdi-ezzaoui on 13 Feb 21
     
    A partnership with a UK-based company will give Prime Bank customers in Kenya access to mobile payments.
mehdibella

FarmDrive - 0 views

farmdrive.co.ke

Fintech Farmdrive kenya

shared by mehdibella on 08 Feb 21 - No Cached
  • FarmDrive’s alternative credit risk assessment model is providing financial institutions with an agriculturally relevant and data-driven model to assess risk and develop loans that fit the needs of smallholder farmers. Not only will this solution unlock millions of dollars of previously risk-averse capital for smallholder farmers, it will improve the livelihoods of entire communities, thereby alleviating poverty, hunger, and inequalities.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      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. FarmDrive connected to various partners and expertise to help them scale, as its usage increases in other developing markets in sub-Saharan Africa.
  • Nearly 50 million smallholder farmers in Africa are struggling to support their families and communities through agri-business because less than 10% have their economic needs met by the financial sector. Without access to credit, they remain unable to purchase quality inputs, make productive investments, and improve their production and harvests.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      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.
  • FarmDrive’s alternative credit risk assessment model is providing financial institutions with an agriculturally relevant and data-driven model to assess risk and develop loans that fit the needs of smallholder farmers. Not only will this solution unlock millions of dollars of previously risk-averse capital for smallholder farmers, it will improve the livelihoods of entire communities, thereby alleviating poverty, hunger, and inequalities.
    • aminej
      aminej on 11 Feb 21
       
      FarmDrive helps small holder farmers get access to credit and funding in order to develop more and improve their capabilities and ressources. They also offer another service that consist of giving a score to each farmer according to his credits which is a good way to evaluate each one and to include more people that are unbanked.
  • ...2 more annotations...
  • FarmDrive uses mobile phones, alternative data, and machine learning to close the critical data gap that prevents financial institutions from lending to creditworthy smallholder farmers.
  • $450 Billion Financing Gap Agriculture employs 65% of Africa’s population and makes up 32% of its GDP. However, less than 1% of bank lending in Africa goes to agriculture. In absence of accurate and cost-effective methods for assessing small-scale agricultural lending risk, financial institutions choose not to lend to smallholder farmers, thereby contributing to the $450 billion global agriculture financing gap.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Not only will this solution unlock millions of dollars of previously risk-averse capital for smallholder farmers, it will improve the livelihoods of entire communities as the GDPR is maiinly based on agriculture these similar technologies help push it over the limit.
  • hibaerrai on 08 Feb 21
     
    This excerpt is important because FarmDrive tries to gather all data needed to create loans that suit farmers situations.
ayachehbouni

SimbaPay Launches International Access to Kenya's M-Pesa PayBill - Techpoint Africa - 0 views

techpoint.africa/...ccess-to-kenyas-m-pesa-paybill

shared by ayachehbouni on 13 Feb 21 - No Cached
  • Kenyans living abroad. will now be able to use their bank accounts, debit or credit cards, to pay their bills back home using the SimbaPay app. The service is piloting in the UK, with further expansion into other EU regions in the works.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      What this partnership propose is not only perfect for existing customers but it is also very attractive to new potential customers.
kaoutarchennoufi

HEYA fawry Initiative - 0 views

fawry.com/heya-fawry-initiative

WomePower Insurance Coverage Healthcare DreamsComeTrue

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • 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
      kaoutarchennoufi on 13 Feb 21
       
      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!
mehdibella

"WatchIT" Provides its Services Electronically through "FawryPay" - Fawry - 0 views

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry has signed up an agreement with Watch IT in order to expand the Fintech network and encourage online payment in Egypt. Therefore, I believe that this partnership will enable both businesses to reach more customers, increase productivity, and therefore increase profits.
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
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  • Mohamed Okasha, Managing Director of Fawry, said that the partnership with WATCH iT! is the result of a joint cooperation to provide outstanding services to customers, highlighting that “Fawry Pay” payment methods include payment either cash through any of Fawry outlets or online using credit cards (MizaCard, MasterCard and Visa) in addition to bank channels linked to Fawry’s network (ATM, Internet banking, mobile wallets) and also through “myFawry” application available for smart phones.
  • “Fawry Pay” platform provided by Fawry for the online shopping sector, offers customers different payment methods and various e- services. Over one million and 100,000 transactions were made on “Fawry Pay” platform during this year till the end of August 2019 for more than 280 e-merchants dealing with the service.
hichamachir

Kenya Is Becoming a Global Hub of FinTech Innovation - 0 views

hbr.org/...obal-hub-of-fintech-innovation

Fintech M-Pesa GDP Kenya

shared by hichamachir on 27 Feb 21 - No Cached
  • The country has seen skyrocketing mobile penetration rates, with subscriptions surpassing the total population amount by 12%, and FinTech innovations have followed. For example, the telecommunications giant Safaricom, which contributes 5% of the county’s GDP, led the push in 2007 with its M-Pesa money transfer service, which functions much like a limited mobile bank but without the need for an Internet connection. M-Pesa combines Safaricom’s mobile infrastructure with an agent model; Safaricom stores their balance and customers can go to one of 110,000 agents throughout the country to conduct transactions in person. The whole system runs on technology similar to text messaging, and has expanded to seven countries.
    • hichamachir
      hichamachir on 27 Feb 21
       
      Safaricom the company responsible for M-Pesa contribute with 5% to the GDP of Kenya. This data shows the influence of this company in Kenya.
ghtazi

List of FinTech companies in Ghana - 0 views

www.jbklutse.com/fintech-companies-in-ghana

Services Money Ghana

shared by ghtazi on 27 Feb 21 - No Cached
    • sawsanenn
      sawsanenn on 27 Feb 21
       
      Invest Mobile competitor
  • ezoMoney provides a digital solution to informal savings schemes, allowing savings groups and individuals via their digital savings platform. BezoMoney has a wallet for each of the individuals who save with them. The digital savings platform provides access to loans and helps those saving with them create a comprehensive savings history to ensure transparency.  Bezo Money also provides investments, investment payment options, insurance, group purchase, and pensions services.
  • Undoubtedly, Ghana’s drive towards a cashless economy cannot be achieved without Financial Technology — FinTech. We’ve been pushed to an era where most people use mobile money services in the country, and have seen the birth of FinTech companies who render financial services and also provide foreign remittance services from countries across the world.
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    • ghtazi
      ghtazi on 27 Feb 21
       
      this excerpt shows how much fintech is important for the growth of the banking sector
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