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Contents contributed and discussions participated by mehdibella

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mehdibella

Why this Nigerian fintech startup is volunteering audited financials | TechCrunch - 0 views

techcrunch.com/...olunteering-audited-financials

Bank Transfer Money Telecom Fintech Strategy

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  • Why this Nigerian fintech startup is volunteering audited financials
  • Clients and recruiting were two reasons. “From a customer perspective, we are trying to get people to trust us with their financial services…so they can see this is the institution I’m dealing with and this is their financial position,” explained Carbon’s Dozie.
  • Carbon has evolved from its original focus as an online lender to offer a broader array of mobile-based financial services — including payments, investment products, credit reports and business banking services. In March, the company acquired Nigerian payment solutions company Amplify for an undisclosed amount.
mehdibella

Nigerian fintech startup Carbon launches $100k entrepreneurship fund - Disrupt Africa - 0 views

disrupt-africa.com/...hes-100k-entrepreneurship-fund

Bank Transfer Money Telecom Fintech Strategy

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  • Nigerian fintech startup Carbon has set up a US$100,000 pan-African fund to address the lack of funding and support holding back entrepreneurs on the continent.
  • Consumer lending platform Carbon, which rebranded in April as parent company OneFi continues to transition into being a full digital banking platform after raising US$5 million in debt funding and acquiring Nigerian payments startup Amplify, has been busy expanding its offering, and has also moved into new markets with a Kenyan launch
  • Carbon expects the initiative to spark more collaboration and further investment that should drive growth across the ecosystem, and is accepting applications from companies with operations in Uganda, Kenya, Nigeria, Ghana, Ivory Coast and Egypt. 
mehdibella

Leading digital financial services company Carbon from Nigeria posted all-time high gro... - 0 views

thefintechtimes.com/all-time-high-growth-last-year

Bank Transfer Money Telecom Fintech Strategy

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  • Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.
  • Leading digital financial services company Carbon from Nigeria posted all-time high growth last year
  • “The company will continue to share it’s audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.
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  • So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.
mehdibella

Carbon , Nigerian fintech startup processed $240M payments transactions in 2020 - Techg... - 0 views

www.techgistafrica.com/...-payments-transactions-in-2020

Bank Transfer Money Telecom Fintech Strategy

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  • Carbon , Nigerian fintech startup processed $240M payments transactions in 2020 - Techgist Africa | Africa Leading Tech
mehdibella

Carbon - Quick loans in Nigeria | SME loans | Download Carbon App - 0 views

ng.getcarbon.co

Bank Transfer Money Telecom Fintech Strategy

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  • Digital banking for all lifestyles
  • Your Carbon account allows you enjoy cheaper transactions, zero account fees, and an annual interest of 2% per annum.
  • Your money is always working harder for you.Earn up to 11% interest p.a. when you invest with Carbon.
  • ...3 more annotations...
  • Be notified of any issues you may have. We’ll help you stay on top of things.. and it’s completely free.
  • Our physical debit cards give you access to cash withdrawals anywhere. And with our secure virtual cards, you can pay for products on your favourite online stores, in dollars.
  • The best online loan service hands down. Just ensure to pay your loans on time and you'll get access to better loans and so many other rewards. Very ideal for fast track business owners who need quick access to funds on the go.
mehdibella

Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 201... - 0 views

techcrunch.com/...ssed-last-year-up-89-from-2019

Bank Transfer Money Telecom Fintech Strategy

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  • Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019
  • In 2018, Carbon, a Nigerian fintech startup, made its financials public for the first time. Although typical for foreign private startups, it’s almost an anomaly in Africa. There have been rare cases in the past, for instance, when Rocket Internet had to include Jumia’s financials in its yearly reports after going public. At the time, the German investment outfit was a founding shareholder in the African-based unicorn.
  • A $15.8 million VC-backed company, Carbon was founded by Chijioke Dozie and Ngozi Dozie in 2012. The brothers started the company in a niche digital lending market, but now, the company offers a plethora of services from savings to payments and investments.
mehdibella

Carbon reveals the appeal of fintech transparency in second profitable year, with $17mi... - 0 views

techcabal.com/...ear-profitability-transparency

Bank Transfer Money Telecom Fintech Strategy

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  • In an audited report published this week, Carbon, the Nigerian fintech company, declared that it made the naira equivalent of $312,905 in profit after tax in 2019. 
  • Carbon reveals the appeal of fintech transparency in second profitable year, with $17million in revenue
  • Carbon offered 975,000 loans valued at $64.1million in 2019. The average loan offered to borrowers is $65.8 which, according to CEO Chijioke Dozie, is at the same level from 2018. A larger income tax bill ate into the company’s 2019 balance, reducing net profit by 23.5%
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  • Carbon lent 76% more and, with $17million, accrued 70% more in revenue. But the real metric for progress last year was in the other lines of business feeding its base in Nigeria, and now being exported to Kenya where it launched last December. 
mehdibella

Omidyar Network Awards $5 Million Grant to Kiva to Spur Growth of Microfinance in Under... - 0 views

omidyar.com/...finance-in-underserved-markets

Kiva kenya Nairobi Fintech finance

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  • Omidyar Network will match up to $2 million of online donations from individual Kiva lenders. Amy Klement, Vice President, Investments at Omidyar Network, will join Kiva’s board of directors.
  • Kiva will use the funding to further develop its technology platform, expand its network of field partners, and continue to invest in due diligence and monitoring capabilities across its growing portfolio. The commitment, which marks the largest grant in Kiva’s history, reflects Omidyar Network’s focus on bringing microfinance to underserved markets as well as catalyzing social impact through technology.
mehdibella

Turo partners with Kiva to launch a novel initiative to help close the racial wealth gap - 0 views

www.prnewswire.com/...cial-wealth-gap-301174125.html

Kiva kenya Nairobi Fintech finance

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  • "Our commitment of up to $1 million in funding to address the growing wealth inequality in the United States is not only the right thing to do, but a necessity,"
  • Kiva's crowdfunding platform, Kiva.org, allows individuals to lend as little as $25 to make a difference in someone's life. Kiva Protocol aims to establish financial identity and credit history for unbanked populations using distributed ledger technology (DLT), with its inaugural project currently being implemented in Sierra Leone.
  • Kiva Capital Management is a forthcoming subsidiary of Kiva that will operate as an impact-first asset manager connecting Kiva's network of Field Partners with institutional capital, scaling Kiva's ability to lend to underserved populations around the world.
mehdibella

KIVA News!!! | Rotary District 5010 - 0 views

rotarydistrict5010.org/...kiva-news

Kiva kenya Nairobi Fintech finance

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  • The club’s decade-long KIVA lending portfolio exceeded $83,000 last week. KIVA is a micro-lending organization. Of the total loan value of $83,150, about $12,000 has been collected via loose change cups at meetings; the rest is comprised of paybacks, with interest.
  • All but one of the seven loans – typically of $100 each – were made to individual entrepreneurs in construction. To date, the club has made 849 loans in 72 countries. Just under half of the loans have been made to agricultural endeavors, another 20 percent to manufactures and construction, followed by food production. Fifty-five percent of the recipients have been women. 
mehdibella

Microloans for Waco businesses the focus of new operation | Local Business News | wacot... - 0 views

wacotrib.com/...be-11eb-b802-5f9d153a4d4b.html

Kiva kenya Nairobi Fintech finance

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  • Kiva, a nonprofit founded in 2005, has chosen to make Waco a “Kiva Hub,” the first city in Texas to receive such a designation
  • He welcomed small business needing a loan up to $15,000 to contact Startup Waco, headquartered at 605 Austin Ave.
  • The Waco City Council gave the local Kiva Hub a financial kick-start, awarding it a $50,000 grant. Passavant said he hopes to approach individuals and foundations about putting additional money behind Kiva.
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  • “I’m sure Austin, Dallas and Texas’ other larger cities will follow suit, but we moved quickly to make this happen in Waco. We were the first,”
mehdibella

Kiva Is Really A Crowdfunded Bank For Refugees And Other 'Unbankables' - 0 views

www.forbes.com/...refugees-and-other-unbankables

Kiva kenya Nairobi Fintech finance

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  • You’ve probably heard of Kiva, but if you aren’t among the 1.7 million people who have made loans on the platform, you may not really know what it is. This crowdfunding platform is, in effect, a bank funded by people who lend their money with an expectation of losing only a little, to 2.9 million people who stand to gain a lot.
  • Today, Kluge serves as an advisor on Kiva’s leadership council. Kiva’s senior investment manager for refugees and displaced populations, Lev Plaves, serves on the steering committee for the Refugee Investment Network.
  • The fund provided $5 million in loans to more than 8,000 refugees and yielded something that is almost invaluable: data. The fund proved that refugees are just as likely as most—and more likely than some—to repay their loans, making way for more loans and economic support for this particularly vulnerable population.
mehdibella

In a cash-strapped age, are microloans the answer? | World news | The Guardian - 0 views

www.theguardian.com/...ancing-poverty-good-news-loans

Kiva kenya Nairobi Fintech finance

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  • Kiva is the slickest of the microfunding websites, offering a mind-bogglingly glossy catalogue of projects sorted into different categories, countries and attributes, all illustrated with backstories and pictures.
  • Kiva is often already in the borrower’s pocket, lent by a local MFI long before the loan target has been met. There are good practical reasons for this, explains Kathy Guis,
  • Kiva is using blockchain technology in Sierra Leone to create an online ID database so that loan applicants outside the formal banking system can prove their credit history, and it hopes to extend the system to other countries if successful.
mehdibella

Exciting news! Kiva's next chapter | Kiva - 0 views

www.kiva.org/...citing-news-kivas-next-chapter

Kiva kenya Nairobi Fintech finance

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  • Today, we’re proud to introduce a new look and feel for Kiva, and a new, mobile-responsive website that makes supporting small businesses around the world easier than ever.
  • When Kiva began in 2005, we had a simple goal: to connect borrowers who need small amounts of capital to improve their lives, with lenders who want to help.
  • Kiva’s grown into a true global community, where people come together to support and believe in each other. That's part of the story we hope to capture with our new imagery.
mehdibella

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

www.businesswire.com/...pport-1-Million-Women-Globally

Kiva kenya Nairobi Fintech finance

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  • 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.
mehdibella

Kiva's Person-to-Person Claim Questioned | News | PND - 0 views

philanthropynewsdigest.org/...son-to-person-claim-questioned

Kiva kenya Nairobi Fintech finance

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  • Kiva has promoted itself as a link between individual lenders in the developed world and individual borrowers in the developing world, allowing visitors to its Web site to learn about and lend money to people in poor nations seeking small loans for specific purposes.
  • the loans made by individual lenders through the Kiva site do not actually end up in the pockets of individual borrowers. Instead, those loans are aggregated and used to backstop microfinance institutions that have already paid out microloans to the borrowers featured on the site.
  • Kiva president Premal Shah said he could foresee a day when Kiva really did provide a direct person-to-person connection, once certain legal hurdles are cleared and as more individuals in the developing world began using mobile phones to access credit and make electronic payments. In the meantime, the organization has changed the wording on its homepage from "Kiva lets you lend to a specific entrepreneur, empowering them to lift themselves out of poverty" to "Kiva connects people through lending to alleviate poverty."
mehdibella

Finances | Kiva - 0 views

www.kiva.org/finances

KIVA Donations Lenders OperationsCosts

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  • 100% of your loans go to the field Kiva never takes a fee from lenders, which means 100% of the funds you lend on Kiva go toward supporting borrowers’ loans.
  • Kiva Microfunds is based in California and registered as a 501(c)(3) nonprofit organization. All donations made to Kiva go to support Kiva Microfunds and are used to cover the operating costs of running Kiva.
mehdibella

"Fawry" took over "Waffarha" shares | Fawry - 0 views

fawry.com/awry-took-over-waffarha-shares

Kiva kenya Nairobi Fintech finance

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  • Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.
  • “Fawry” took over “Waffarha” shares | Fawry
  • Tarek Magdy, CEO of Waffarha, said: “Waffarha” was launched 6 years ago as the only platform that provides offers ranging from 50% for B2B and B2C, with more than 1 million social media followers and more than 1000 commercial series.”
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  • And he pointed out that “Waffarha” provides many services as (restaurants, cafes, travel, health and beauty, entertainment, etc.). There are 250 thousand customers who have saved nearly 50 million EGP after using “Waffarha”. All offers starting from 50% include taxes and services, and can be paid in different ways by choosing “Fawry Pay” service, which allows customers to pay cash in more than 90 thousand stores of Fawry or by banks (credit cards or direct debit). In addition to paying with “PayPal” through Fawry Pay”
mehdibella

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

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

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  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • 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.
  • 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.
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  • “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.
mehdibella

Bank Deals - Fawry - 0 views

fawry.com/...bank-deals

CustomerRelationships Unique Engaged Deals

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  • InstallmentsAllow credit cardholders to benefit from every purchase by splitting the transaction into fix and equal installments based on the default ranges of 3, 6, 9- and 12-months installment plans. It can be offered in two ways: via POS at store. Via e-commerce websites through Fawrypay
  • How it works?
  • Upon successful purchase the bank locks customer’s credit limit at the full amount, and within 1 working day after receiving the daily reports from Fawry, the bank will convert the transaction into installment plan and only charges the customer the monthly payment with/without interest depends on program type.
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