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aminej

Egypt's e-commerce startup Capiter to invest EGP 500 mn in 2021 | Enterprise - 0 views

enterprise.press/...nvest-egp-500-mn-in-2021-23304

Egypt Fintech Service Investment E-commerce Network SMEs

shared by aminej on 12 Feb 21 - No Cached
  • STARTUP WATCH- E-commerce company Capiter plans to invest EGP 500 mn next year to expand its geographical presence and the network of its SME clients, CEO and founding partner Mahmoud Nouh said, according to Al Mal. The Cairo-based company, which was founded in May 2019, operates an app that connects small and medium companies to suppliers.
    • aminej
      aminej on 12 Feb 21
       
      That's a huge investment by the Fintech Capiter in 2021. It will help many entrepreneurs to start their business or improve theirs if they already have one. The relation between companies and suppliers will also improve and distribution facilities will be smoother
aymanelmamoun

SimbaPay launches Kenya to China payment service over WeChat | TechCrunch - 1 views

techcrunch.com/...ina-payment-service-via-wechat

E-Payment Africa FinTech

shared by aymanelmamoun on 12 Feb 21 - No Cached
  • The new product — which piggy-backs on WeChat’s messaging service — is aimed at Kenyan merchants who purchase goods from China, Kenya’s largest import source.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Simbapay developed a third party payment aggregator that enables funds delivery when the buyer and seller both use Wechat
  • Forging another link between Africa and China’s digital economies, the African-focused money transfer startup SimbaPay and Kenya’s Family Bank have launched an instant payment service from East Africa to China.
  • The new product — which piggy-backs on WeChat’s messaging service — is aimed at Kenyan merchants who purchase goods from China, Kenya’s largest import source.
    • aminej
      aminej on 12 Feb 21
       
      SimbaPay offers a new connection between Africa and China for people who buy their goods from there. Kenya is one of the biggest importers of products from China equivalent of 4 billion $ which is huge.
  • ...5 more annotations...
  • SimbaPay transfers funds to 11 countries — nine in Africa then to China and India. “Early next year we’ll increase this to 29 countries,” said Sagini. This includes offering the WeChat China payment service elsewhere in East Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I like how simbapay finds its way through the African market and will increase the countries where customers can transfer funds from 11 to 29.
  • SimbaPay and Family Bank will generate revenues on the WeChat-based transfer service through a fee share arrangement on transactions. “We have a sliding scale of charges [for the service]. For example, to send the equivalent of $80 will cost $3.50,” said Sagini.This presents a significant reduction of fees and opportunity cost for Kenyan traders who import from China, according to Sagini and Family Bank.Current available payment methods to China for Kenyan businesses are less secure and more expensive options, such as traditional money transmitters (Western Union), SWIFT and off the grid services, according to Sagini and Family Bank Chief Operation Officer (COO) Godfrey Kamau Kariuki.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains how SimbaPay plans on promoting Sino-Kenyan trade: reduction of fees and opportunity costs for kenyan traders importing from China through a partnership with the chinese WeChat.
  • “Kenya imports about $4 billion goods from China. That’s the total market that we’re getting into. We’re looking at a single digit market share of the transactional volume around that,” SimbaPay co-founder Sagini Onyancha told TechCrunch.“The users [of the new product] are primarily small Kenyan businesses, that import phones, gadgets, electronics…small to medium size traders who import goods from China,” he said.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it explains the reasons underlying SimbaPay's decision to launch an instant payment service from East Africa to China. Indeed, exchanges between Kenya and China are huge, and SimbaPay attempts to capitalize on this market. The potential users of this service are expected to be Kenyan small to medium-size business owners who import electronics from China.
  • SimbaPay and Family Bank estimate over seven million customers and businesses will be able to access their China WeChat payment service, based on projections of Kenya’s current SMEs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this estimation can be reached because of the huge customer portfolio that china has. Plus kenya is known to be one of the main importers from China
  • SimbaPay and Family Bank will generate revenues on the WeChat-based transfer service through a fee share arrangement on transactions. “We have a sliding scale of charges [for the service]. For example, to send the equivalent of $80 will cost $3.50,” said Sagini.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Reducing fees and opportunity cost for Kenyan traders importing from China is a very crucial step to Family Bank.
  • mehdi-ezzaoui on 13 Feb 21
     
    Forging another link between Africa and China's digital economies, the African-focused money transfer startup SimbaPay and Kenya's Family Bank have launched an instant payment service from East Africa to China.
ayachehbouni

Prime and SimbaPay partner to launch international money transfer service | Mobile Paym... - 0 views

www.mobilepaymentstoday.com/...ational-money-transfer-service

shared by ayachehbouni on 12 Feb 21 - No Cached
  • "Businesses as well as Kenyans and expatriates with friends and family abroad send over $18 Billion to other African countries," Karanja said in the release. "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."
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains that $18 billion are transferred by businesses, other kenyans and expatriates with friends and family abroad to other African countries. Hence, the partnership between SimbaPay and Prime Bank is expected to improve international money transfer for these people, who represent a large market.
  • SimbaPay's head of operations, Victor Karanja, stated the service will provide a seamless platform for Prime Bank's customer base to send money abroad.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I found the collaboration between Prime Bank and SimbaPay really smart because it will help them to extend their capacity and attract new customers. it is a win-win situation.
    • rayanbenabdallah
      rayanbenabdallah on 13 Feb 21
       
      Indeed the collaboration between Prime Bank and SimbaPay is a smart move for both compagnies. The joint force will enable a very important customer expansion.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains that $18 billion are transferred by businesses, other kenyans and expatriates with friends and family abroad to other African countries. Hence, the partnership between SimbaPay and Prime Bank is expected to improve international money transfer for these people, who represent a large market.
  • ...4 more annotations...
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt shows different countries that simbapay is working with.It shows that the app is not only limited to kenya and china but to other countries which will allow simbapay to acquire more customers worldwide
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Simbapay partnership with Prime Bank has allowed it to launch an international branch in the fintech in which you can transfer money to different other countries.
  • Prime and SimbaPay partner to launch international money transfer service
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This partnership is fruitful for both sides as it will increase both parties reach and customer base.
mbellakbail69

Egyptian digital payments company Fawry IPO oversubscribed 30 times | Reuters - 0 views

www.reuters.com/...scribed-30-times-idUKKCN1UV1ET

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • CAIRO (Reuters) - The initial public offering for Egyptian digital payments company Fawry was oversubscribed by 30.3 times at a price of 6.46 Egyptian pounds (39 U.S. cents), data from the Egyptian stock exchange showed on Monday.
    • aminej
      aminej on 12 Feb 21
       
      The subscriptions for both the public and private offerings for Fawry were large and strong because the industry itself is new to the market and has greater than average growth which means that the company has been innovative and managed to maximize their profit and increase their market shares in the Egyptian Market
  • Fawry plans to list 36% of its share capital, worth up to 1.6 billion Egyptian pounds ($97 million), in the flotation.It said Actis, Banque Misr and National Bank of Egypt would each be offered about 7% of the stock, and 5% would be offered to retail investors.A private placing representing the remaining 10% of the share capital was 15.9 times oversubscribed, raising about 360 million Egyptian pounds, investment bank EFG Hermes said last Thursday.
  • “The subscriptions for both the public and private offerings for Fawry were large and strong because the industry itself is new to the market and has greater than average growth,” said Radwa El-Swaify, head of research at Pharos Securities Brokerage.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      There were many subscriptions for Fawry because of its ability to make operations easier. The subscriptions for public and private offerings were very large.
  • ...1 more annotation...
  • “The view of investors this time around is toward the long-term payoff and not the short-term,” El-Swaify said. Fawry expects trading in its shares to start on the bourse on Aug. 8 after receiving approval from the exchange.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Fawry, founded in 2009, is owned by local and foreign investment banks. About 8% of its shares are held by management and employees.
  • hichamachir on 12 Feb 21
     
    A lot of companies are investing in Fawry's shares. I can say that this is a sign of how good the company is performing in the financial market.
hindelquarrouti

Startuplist Africa | Startuplist Africa - 1 views

startuplist.africa/jumo

Jumo Data Technology Fintech

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • Since JUMO was founded in 2014, the company doubled its staff complement each year for two consecutive years, and it was recently recognized by the London Stock Exchange Group as one of the Companies to Inspire Africa in 2019.
  • JUMO is a full technology platform, developed for building and running financial services
  • JUMO’s extensive network of partners includes financial services providers such as the Barclays Africa Group, Letshego Bank, and Telenor Microfinance Bank, as well as mobile network operators such as MTN, Airtel, Telenor, and Tigo.
  • chaimaa-rachid on 12 Feb 21
     
    I think the company deserves to be chosen as one of the companies to inspire Africa in 2019 because they are creative, provide great services to their clients, and are consistent.
  • hindelquarrouti on 13 Feb 21
     
    Jumo makes a good combination of data and technology in order to serve the 80% of the world's unbanked people while at the same time collecting enough information that allows it to make informed decisions.
hichamachir

Microsoft Word - Mbiti Weil NBER Working paper revised June 2014.pdf - 1 views

M-Pesa Savings Banks

shared by hichamachir on 12 Feb 21 - No Cached
  • Researchers have also noted the potential of M-Pesa to affect savings. Morawcyznski and Pickens (2009) observe that users often keep a balance on their M-Pesa accounts, thereby using the system as a rudimentary bank account despite the fact that the system does not provide interest.
  • hichamachir on 12 Feb 21
     
    M-Pesa might affect the savings because people are believing in this app. This business solved their problems and they are using it daily. It's becoming a lifestyle in Kenya.
nouhaila_zaki

What Kenya's mobile money success could mean for the Arab world - 1 views

www.worldbank.org/...-could-mean-for-the-arab-world

M-Pesa Kenya Arab World

shared by nouhaila_zaki on 12 Feb 21 - No Cached
  • For a successful model, the Arab World can look to Kenya’s development of mobile money or “M-Pesa”. In many ways, the elements that lead to M-Pesa’s success in Kenya are already present in the Arab World. Young people in MENA are digitally savvy, are active on social media and are some of the heaviest users of mobile phones in the world.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa can influence many countries to believe in the power of technology and innovation. I think that embracing the entrepreneurial lifestyle can help many countries to innovate and create successful business and M-Pesa is a great example.
  • The growth of M-Pesa is the result of many factors, including the ease of setting up an account (which is free and only requires an official ID), its simplicity of use, its affordability, the high literacy rate of the population, and the high penetration of mobile phones.Another key element to M-Pesa’s growth worth emphasizing is the regulatory stance adopted by the Central Bank of Kenya (CBK). It decided not to oppose the entry of the telecom operator into the financial sector as long as it offered sufficient guarantees. CBK adopted an “above the fray” position as a regulator and allowed for experimentation in order to foster innovation.
  • The successful adoption of M-Pesa in Kenya reverberated across the African startup scene. It acted as a catalyzer and a signal for young entrepreneurs in Kenya and Africa as a whole: revolutionary ideas could be successfully implemented in Africa and generate both business opportunities and a development path for local communities.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa will influence many nations to believe in the potential of creativity and technology. I think it will help many countries to innovate and build effective companies by adopting the entrepreneurial lifestyle, and M-Pesa is an excellent example.
  • ...1 more annotation...
  • A MENA perspectiveMENA could easily follow in Kenya’s footsteps, and reap immense benefits. The adoption of mobile payment systems makes transactions cheaper, easier and safer. By simplifying how clients can pay for goods and services, it helps firms reach out to new customers and foster private sector development across the economy. Moreover, as is often the case with innovations, it has the potential to be built upon and used by other new technologies and to create a positive momentum in fintech as a whole.Governments in the Middle East and North Africa should enable digital innovation with conducive regulations and the development of a regulatory ‘sandbox’, which guarantees the security of transactions but allows for experimentation, that would stimulate the development and adoption of disruptive innovations.Today, economic connectivity is achieved by the development and harmonization of optic fibers, IT equipment, online payment systems, information transmission and data protection policies. If the MENA region puts sufficient efforts in this direction, it could propose a new path to its citizens, in particular the youth, and bring about a new development strategy adapted to the modern age.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This except is very interesting because it touches upon the way in which M-Pesa could benefit MENA societies. It encourages MENA governments to legislate in favour of innovation and digital products in order to propose a new development strategy that befits the modern age.
  • mohammed_ab on 12 Feb 21
     
    I think that this article has some great information on how to replicate the success story of M-Pesa in the Arab World. I think that the Arab World is in need of such service to facilitate the life of unbanked people, and especially women. This article also highlights the importance of having a lenient regulatory system.
sawsanenn

Is M-Pesa really Kenyan or British? - 1 views

www.iafrikan.com/...m-pesas-origins

Financial inclusion FinTech Service Africa Kenya

shared by sawsanenn on 12 Feb 21 - No Cached
  • Hailed as the “Kenyan technology success story”, many have claimed M-PESA to be a testimony to the greatness of the East African country’s technology scene, producing world-class technology companies that rival those in South Africa. However, is the acclaimed mobile money service really Kenyan at all? The answer is no. M-PESA is British.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa can be a british company but it's becoming part of the Kenyan culture. It's not important whether it's British or Kenyan, the most important thing is that M-Pesa revolutionized the Kenyan economy and played a huge role to develop the financial industry in Kenya.
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa may be a British business, but it is becoming a part of the culture of Kenya. Whether it's British or Kenyan, the most important thing is that M-Pesa has revolutionized the Kenyan economy and played a major role in the growth of Kenya's financial sector.
  • Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and claims that Vodafone and its representatives stole the idea of Mobile Cash Transfer from him.
    • ghtazi
      ghtazi on 13 Feb 21
       
      there is a lot of perspectives about the fact that M-Pesa is not really a Kenyan product but a British product. Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and accuses Vodafone of plagiarism. but the story vanished quicker than it appears.
  • ...2 more annotations...
  • Despite this certificate being awarded in 2012 and being stated as being in the LITERARY category, Ouko insists he is the original M-PESA innovator and further elaborates by saying that he has been “trying to Patent a Money Transfer system way back in 2003”. Even though he says that he believes many more Kenyans contributed to the innovation and development of M-PESA without recognition or reward, he writes, “Even though I currently believe I am the one, I start this with an open mind. If another person or firm comes forward with compelling proof I am ready to step aside and support that person.”
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows how M-Pesa helped in the economic growth of Kenya. They also helped in expanding the fintech culture in the country
kaoutarchennoufi

M-PESA Tips - Safaricom - 1 views

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

PIN Safety Security

shared by kaoutarchennoufi on 12 Feb 21 - No Cached
  • M-PESA Tips Tips Safaricom investigates all reported cases of fraud or attempted fraud on the network; and our dedicated Fraud team works together with the relevant authorities to seek legal address where appropriate. Fraudsters are known to use tactics that take advantage of customers; they require you to provide information or do something yourself.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa's partner Safaricom is responsible of any fraud that customers might face. This a good way to show that the company cares about customers data and want to keep it safe. I think that protecting the privacy of customers data is very crucial in the company's success
  • Check M-PESA balance When you perform an M-PESA transaction, you will receive a text message that confirms your transaction and tells you your new balance. You can also check your M-PESA balance by going to “My account” on the M-PESA phone menu.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Safaricom, M-affiliate, Pesa's is responsible for any fraud that customers may face. This is a good way to demonstrate that the organization cares and wants to keep consumer data secure. I believe that preserving consumer data privacy is very important to the success of the business.
  • Your M-PESA PIN is used to protect the money in your M-PESA account. You have to key in your PIN before you can perform any M-PESA transactions, so choose a PIN that you can easily remember. Use a PIN that is not easy for other people to guess, and do not share your PIN with anyone, not even Safaricom staff. You can change your PIN at any time by going to ‘My account’ on the M-PESA phone menu. 
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-Pesa cares more about the security of its clients and ensure their safety by providing them with a unique PIN that they need to enter before performing any transaction.
  • ...1 more annotation...
  • Your M-PESA PIN is used to protect the money in your M-PESA account. You have to key in your PIN before you can perform any M-PESA transactions, so choose a PIN that you can easily remember. Use a PIN that is not easy for other people to guess, and do not share your PIN with anyone, not even Safaricom staff. You can change your PIN at any time by going to ‘My account’ on the M-PESA phone menu. 
samielbaqqali

Kenya: M-Pesa and mobile data boost Safaricom's 2019 growth - 1 views

www.theafricareport.com/...a-boost-safaricoms-2019-growth

M-Pesa Remittances Safaricom

shared by samielbaqqali on 12 Feb 21 - No Cached
  • This is why the Vodacom-Safaricom duo has created a joint venture with full powers to make M-Pesa a “super-app” to provide for various needs such as booking taxis, making various appointments or paying for various services by mobile phone.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa is becoming a super app due to the power of its partners. M-Pesa is present in all the aspect of the economy. The app made the lifestyle of the Kenyans better because it provides various services that are very important. The key to become a successful Fintech is to solve cutomers problems in a easy way and M-Pesa is a great example.
  • Safaricom launched new services as early as 2013, with M-Shwari, Fuliza and KCB M-Pesa came later to provide savings and micro-loans. By 2019, these “apps within apps” will account for two-thirds of M-Pesa’s revenues (84.4 billion shillings in total). “Remittances are still performing well and are up 14.6 per cent over the previous year,” said Sateesh Kamath, Safaricom’s chief financial officer.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Due to the strength of its partners, M-Pesa is becoming a super-app. In all facets of the economy, M-Pesa is present. The app made the lifestyle of the Kenyans better because it provides numerous services that are very important. The secret to becoming a good Fintech is to quickly solve client issues and M-Pesa is a perfect example.
sawsanenn

Simbapay - Prime Bank - 0 views

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

FinTech E-payments Kenya

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

Former Kiva.org CEO Brings New App, a 'Branchless Bank' to Kenya - WSJ - 0 views

www.wsj.com/...BL-VCDB-16975

Kiva Loans Africa

shared by hichamachir on 12 Feb 21 - No Cached
  • The former chief executive and co-founder of nonprofit lending platform Kiva.org, Matt Flannery, on Wednesday revealed his latest initiative Branch International Inc., which he calls “a mobile-based microfinance institution for the world.” Branch raised $1.4 million in equity seed funding from Formation 8 and the Khosla Impact Fund. In many ways, Branch operates like a bank in the cloud, one that is accessible not through local “branch” offices, but through a user’s smartphone. It provides small amounts of credit--up to $20--to Android users in Africa, specifically Kenya today, but doesn’t take deposits.
    • hichamachir
      hichamachir on 12 Feb 21
       
      Kiva is a problem solving company! It's a brilliant business that contributed on making loans easy. I think that this company has great future because the crowdfunding services in Africa are yet to improve.
sawsanenn

Jumo - LeapFrog Investments - 1 views

leapfroginvest.com/jumo

Financial inclusion FinTech Africa Service Asia

shared by sawsanenn on 12 Feb 21 - No Cached
  • So far JUMO has analysed more than 33 terabytes of data to serve more than nine million customers in seven countries across Africa and Asia, including Tanzania, Kenya, Uganda, Ghana, Zambia and Pakistan.
  • Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • As an investor partner, LeapFrog’s financial services expertise is being used for product design and multi-country rollouts, to turbocharge Jumo’s growth and spur financial inclusion across Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I think that this is a very smart move since it will help the company to grow and spur financial inclusion across Africa.
  • ...4 more annotations...
  • 100% of its customers are estimated to be low-income, earning less than $10 per day PPP, and approximately 80% have never interacted with formal financial offerings before using the platform. The company has extensive expansion plans for both Africa and now Asia, with CEO and Founder, Andrew Watkins-Ball having relocated to Singapore to drive expansion.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it describes the customer segment targetted by Jumo straightforwardly. It says that 100% of Jumo customers are low-income, and around 80% of them have never been exposed to formal financial offerings before using Jumo.
  • Jumo is a disruptive fintech business that is rapidly reshaping how ethical financial products reach consumers and SMEs in emerging markets. Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • By creating a customer-centric platform that enables the distribution of leading-edge financial offerings instantly and on-mobile, JUMO is generating access at an unprecedented rate
  • Advancing inclusive access to and usage of affordable formal financial services is vital to promoting vital financial health, economic empowerment, financial stability and sustainable growth. Yet emerging markets have negligible penetration of formal financial services: savings is chronically underdeveloped and the majority of the world’s 2 billion unbanked adults are found in low- and middle-income emerging markets.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      we can conclude that Jumo offers diversified financial services that are affordable to their customer's target which is mainly new entrepreneurs
  • chaimaa-rachid on 12 Feb 21
     
    JUMO clients are evaluated to be low-income, obtaining less than $ 10 every day, and around eighty percent have never collaborated with formal monetary offers utilizing the stage.
  • hindelquarrouti on 13 Feb 21
     
    Jumo's goal is that of including the 80% of the world's population that is currently not benefiting from financial services. This company is targeting low and low-middle class as they are the categorise that are usually neglected by traditional finance services. In doing this, it is mainly targeting Asia and Africa
  • mohammed_ab on 13 Feb 21
     
    JUMO serves a big market of underbanked people or people will low access to financial services. I like how the company gives the opportunity to small businesses that wish to grow and expand to borrow money at a low cost.
mohammed_ab

Crowdsourcing student loans: Student financing in Kenya with Kiva and Strathmore Univer... - 1 views

resources.norrag.org/...kiva-and-strathmore-university

Kiva Crowdfunding Entrepreneurs Microfinance

shared by mohammed_ab on 12 Feb 21 - No Cached
  • n 2012, the micro-lending institute Kiva partnered with Kenya’s Strathmore University to offer tuition loans to low-income students. The loans were crowdfunded by Kiva and distributed by Strathmore University, who selected applicants based on the criteria of having high academic performance and coming from a low-income household, among other requirements. From 2012 to 2018, Kiva fundraised USD 762,675, which was distributed to 84 students who received an average loan of USD 9,004. The program ended in 2018 because the delinquency rate had risen to 14.65%, with many students being unable to pay back their loan owing to scarce job opportunities after graduation (Kiva, 2018).
    • hichamachir
      hichamachir on 12 Feb 21
       
      Kiva is treating a very important point in the society. It's to facilitate students loans. I think that kiva is playing it smart at this point because as we know students loans can be expensive to get and kiva found a solution for which can make the company very successful.
  • In 2012, the micro-lending institute Kiva partnered with Kenya’s Strathmore University to offer tuition loans to low-income students. The loans were crowdfunded by Kiva and distributed by Strathmore University, who selected applicants based on the criteria of having high academic performance and coming from a low-income household, among other requirements. From 2012 to 2018, Kiva fundraised USD 762,675, which was distributed to 84 students who received an average loan of USD 9,004
  • mohammed_ab on 13 Feb 21
     
    I think that Kiva is a platform that could benefit different market segments. Their main value proposition is to help entrepreneurs find funds for their business. However, as it can be seen in this article, Kiva could also serve students who have difficulties in financing their studies. I think that this is the power of crowdfunding, It can be used in many areas of life.
mehdibella

Ghanaian Agritech startup, Agrocenta raises $790k pre-series A - Techpoint Africa - 1 views

techpoint.africa/...agrocenta-raises-790k

ghana Fintech Agrocenta

shared by mehdibella on 12 Feb 21 - No Cached
  • In 2018, Agrocenta won the Seedstars World competition — an early-stage startup pitching competition –, receiving $500k in equity funding. By December of the same year, the company closed a seed round of equity and non-equity funding to scale its operations. 
  • Ghanaian Agritech startup, Agrocenta has raised $790,000 pre-series A funding. The investors that took part in the round include Shell Foundation, FCDO, AV Ventures and Rabo Foundation.
  • The latest funding takes Agrocenta’s total disclosed funding to $1.9 million.
  • ...5 more annotations...
    • nouhaila_zaki
      nouhaila_zaki on 12 Feb 21
       
      This article is important because it reflects the/some sources of funding, namely grants from competitions or series A equity, that AgroCenta is using to finance its operations.
  • “This is a significant milestone for AgroCenta, having the support of leading institutions, particularly with the COVID-19 backdrop, underlining the strength of AgroCenta and the importance of its mission.”
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      I feel grateful to know that AgroCenta is being supported by leading institutions. During this pandemic, farmers need all the support they can get.
  • Ghanaian Agritech startup, Agrocenta has raised $790,000 pre-series A funding. The investors that took part in the round include Shell Foundation, FCDO, AV Ventures and Rabo
  • The company claims the registered farmers on its app, CropChain, has rapidly grown from 3,000 to 48,000. These farmers handle crops like maize, rice, soybean, cowpeas, and sorghum.
  • “This is a significant milestone for AgroCenta, having the support of leading institutions, particularly with the COVID-19 backdrop, underlining the strength of AgroCenta and the importance of its mission.”
    • mehdibella
      mehdibella on 13 Feb 21
       
      Ghanaian Agritech startup, Agrocenta has raised $790,000 pre-series A funding. The investors that took part in the round include Shell Foundation, FCDO, AV Ventures and Rabo
mbellakbail69

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

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

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

The Profit in Nonprofit - 1 views

ssir.org/...the_profit_in_nonprofit

SMEs Kiva fintech

shared by chaimaa-rachid on 12 Feb 21 - No Cached
  • Once in East Africa, Flannery and Jackley agreed that they too would facilitate loans rather than donations. After weeks of brainstorming, they soon settled on the basic idea for Kiva. At first, they envisioned a few friends and family members lending money to a handful of entrepreneurs in East Africa. And then eventually, although they weren’t sure of the steps along the way, they saw Kiva evolving into a self-regulating online lending marketplace where microfinance institutions (MFIs) could raise loan capital to fund projects for small-business people in developing countries.
    • hichamachir
      hichamachir on 12 Feb 21
       
      In order for a business to succeed, you need to start small. I liked the way Kiva started its business step by step in order to gain more information about the market size and improve its business.
  • Kiva’s business plan was quite straightforward: An online platform would allow ordinary people to invest in small and medium enterprises (SMEs) in the developing world.
  • chaimaa-rachid on 13 Feb 21
     
    Kiva is assisting with financing numerous small and medium enterprises. This business intends to change and improve individuals' lives.
samielbaqqali

Contents contributed and discussions participated by hichamachir - Spring 21 Capstone 6... - 0 views

groups.diigo.com/...hichamachir

Fintech Snapscan Payments

shared by samielbaqqali on 12 Feb 21 - No Cached
  • The overall benefits for businesses and customers include: Safety and security: Customers can pay via their mobile phone and retailers can rest assured knowing that extensive security measures are in place. Speed: It’s fast, as customers simply need to scan the display code at a till point. Convenience: There is no need to carry cash around and paying via SnapScan offers a frictionless experience. Cashless: As customers won’t be using cash, it is easier for businesses to authenticate and formalise transactions. SnapScan is a mobile payments solution with a variety of payment options available for retailers.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      I like the concept of defining SnapScan as a solution for companies looking for a service that is quick and good.
mohammed_ab

How to Get a Kiva Loan: A Step by Step Guide - Small Business Trends - 2 views

smallbiztrends.com/...how-to-get-a-kiva-loan.html

Kiva Crowdfunding Entrepreneurs Microfinance

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Kiva Small Business Loan FeaturesSome attractive aspects of a Kiva loan includes more flexible terms, low costs to borrowers and emphasis on supporting community-wide projects that can shape the future for a family or an entire community.
  • Some attractive aspects of a Kiva loan includes more flexible terms, low costs to borrowers and emphasis on supporting community-wide projects that can shape the future for a family or an entire community.
  • hichamachir on 12 Feb 21
     
    Kiva is helping financing many important projects in Kenya. This business is changing people's life and I think that's the objective of Fintechs.
  • mohammed_ab on 13 Feb 21
     
    I think that we should see more fintech companies like Kiva. I believe that fintech companies should always offer solutions that support community projects. I like the social impact that Kiva has on African countries.
mehdibella

Credit scoring the unbanked - alternative solutions used in global markets | Penser - 0 views

www.penser.co.uk/...lutions-used-in-global-markets

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
    • hindelquarrouti
      hindelquarrouti on 13 Feb 21
       
      Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • ...4 more annotations...
  • JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
    • mehdibella
      mehdibella on 13 Feb 21
       
      They are currently active in six markets (Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan) with plans to soon launch in India, Bangladesh, Côte d'Ivoire and Nigeria.
  • This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data. This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface. JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
  • chaimaa-rachid on 12 Feb 21
     
    It makes a monetary identity and a financial assessment for low-pay people and organizations, who would then be able to get to reserve funds, credits through mobile phone.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    JUMO is a very interesting company that offers many important services like micoloans and insurance products. I believe that this company is doing a great business because of its variety of important services.
  • hindelquarrouti on 13 Feb 21
     
    Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • mohammed_ab on 13 Feb 21
     
    This article explains the procedures and technology used by JUMO in order to create a credit rating for its customers. This credit rating allows the company to know the amount of loan they can give to someone.
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