The device is a heat detector and not an ill-suited smoke detector. In a fire situation, the device will ring alerting the family inside enabling them to be proactive before the fire becomes unmanageable. After 20 seconds the device transmits a signal to all devices in neighbouring homes up to 60 metres away creating a community-wide response to the fire
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Lumkani Fire Detection - 0 views
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The device not only informs families who are affected, but a signal is sent to the entire neighborhood which I think is a great initiative. -
The device is efficient and has a fast response time as it takes only 20 seconds to alert the whole neighborhood of the fire to create a community-wide response.
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We have 7000 low-income informal households benefiting from our networked fire technology. Approximately 30 000 people are protected by our technology each day across South Africa's largest cities and rural communities.
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The growing numbers of households and people protected thanks to the device.
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"Lumkani has built the world's 1st off-the-shelf, networked early warning device & system designed for people living in dense urban slums.The device is a heat detector and not an ill-suited smoke detector. In a fire situation, the device will ring alerting the family inside enabling them to be proactive before the fire becomes unmanageable. After 20 seconds the device transmits a signal to all devices in neighbouring homes up to 60 metres away creating a community-wide response to the fire"
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Food for thought - Crop Insurance Gets a Makeover - 2 views
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Despite the technology underpinning WorldCover being really quite complicated (blockchain technology and machine learning), their product is amazingly simple; a crucial quality when doing business in rural areas where literacy levels are extremely poor. Essentially WorldCover is able to cut through the notoriously bureaucratic insurance claim system by ensuring insurance payments are automatically triggered once certain conditions are met, therefore increasing efficiency and eliminating fraudulent requests.
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WorldCover is capable of providing premiums at a comparatively low-cost, which, like simplicity, is an essential part of their business model.
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Worldcover has developed smart contracts using blockchain with the purpose of simplifying the process of insurance. -
I like the idea of creating smart contracts utilizing blockchain. World Cover has done a good job as it will facilitate the cycle of protection.
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About Carbon - Africa's Leading Digital Bank - 0 views
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We empower individuals with access to credit, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management. Carbon is headquartered in Lagos, Nigeria. We are a global company of over 90 employees with operations in Nigeria, Ghana and Kenya
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It is one of the best payment and fastest loan platform with lower interest rates, very reliable for investment and transact as quick as texting of messages. Many customers recommend it across Africa which shows how good they are.
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Carbon is a financial service provided by Carbon Finance & Investments Limited (RC 1044655), licensed and regulated by the Central Bank of Nigeria (CBN). We empower individuals with credit, simple payments solutions, high-yield investment opportunities, and easy-to-use tools for personal financial management. We are a global company of over 90 employees with a presence in Mauritius, Nigeria, the United Kingdom, United States, Canada, South Africa, and Kenya.
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Carbon is a service of Carbon Finance and Investment that started in Nigeria and extended its services to Ghana in our case and other countries such as the US, the UK, south Africa etc. It encourages lending and offers simple payment procedures, investing and financial management.
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Lumkani - Crunchbase Company Profile & Funding - 0 views
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Lumkani is a social enterprise known for its fire detector and system designed to overcome the shack-fire challenge in urban slums in South Africa and across the globe with the use of a heat detection technology. It measures the incidence of harmful fires and alert families inside the shack of the danger, using the rate-of-rise of temperature
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It was a great idea to introduce the device in urban slums since that is the region where most fires ignite.
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CreditEase Fintech Investment Fund Announces New Investments in Global Growth-Stage Fin... - 3 views
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Founded in January 2015, WorldCover is a US-based insurance technology company that uses a peer-to-peer model to provide farmers in developing worlds with crop insurance against natural disasters and provides investors with diversified returns from the non-traditional financial markets.
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Worldcover, an insurance company, uses the peer-to-peer model in order to connect farmers and investors, and in order to give farmers in developing countries crop insurances agains natural disasters.
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Lumkani: Most Innovative Company | Fast Company - 0 views
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Lumkani is a tech company and social enterprise that delivers insurance services dedicated to customers who suffered loss of property or life following slum fired in South Africa and beyond. The company got its name from local Xhosa language, “lumkani” meaning “be careful”. Their main product is a small blue box fire alarm that responds to a rise in temperature rather than smoke with the aim of decreasing false alarms. Its associated network alerts houses within a 200 foot radius if the alarm is not shut off within 30 seconds. In 2014, the company reported having distributed 7000 of these devices across slums in South Africa, and 5000 in 2015 to its highest fire risk neighborhood in Cape Town.
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Lumkani doesn't only alarm people, but it delivers insurances services which I think is essential for people in urban areas to have.
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AgroCenta Aims At Going beyond the Ghanaian Borders by 2018 - Tech In Africa - 0 views
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Given the fact that the startup did well in 2017 by guiding the Ghanaian small-scale farmers to a larger market, it now wants to expand further to Nigeria. At the same time, the startup is planning to launch piloting program in Ghana within 2018. According to AgroCenta CEO and co-founder Francis Obirikorang, the startup will have an initial 100,000 smallholder farmers in Nigeria. The farmers will be connected to almost six, small, medium and large-scale market to sell directly.
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This excerpt is relevant because it reflects AgroCenta's future plans of expansions beyond the Ghanaian borders. This would be helpful in later steps of the capstone and could help with getting ideas about strategies to adopt.
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AgroCenta was recently selected by Seedstars World for its Seedstars Growth Program. Seedstars Growth Program offers high growth startups $50,000 with access to business advisory and marketing services on top.
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The company has got some investors like Greentech Capital Partners, Isebaltic Trust, World Trade Organisation and SANAD Technical Facility in Jordan among others. Currently, the startup has an ongoing agreement with various companies that include Guinness Ghana Breweries and is hoping to bring Nestle Ghana on board within 2018.
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It was noted that logistics alone makes Ghana to either gain or lose around $200 million potential revenue. The company is currently being funded by close relatives and friends with the founders investing $20,000 which caters for various issues
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The company has got some investors like Greentech Capital Partners, Isebaltic Trust, World Trade Organisation and SANAD Technical Facility in Jordan among others. Currently, the startup has an ongoing agreement with various companies that include Guinness Ghana Breweries and is hoping to bring Nestle Ghana on board within 2018.
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Building relationship and partnership with companies from other countries will allow agrocenta to bring more customers from other countries
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AgroCenta was founded by Michael Ocansey and Obiorikorang in 2015 who by then were working at an agricultural information communication service Esoko. The founders realized that the farmers were losing almost 40% of their income to middlemen. Although the aim was to develop a trading plan, they, later on, saw the need of working on logistics.
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the company was founded in 2015 by Michael Ocansey and Obiorikorang. they were working at an agricultural information communication service Esoko. the founders then realized that the farmers lose almost 40% of their income. so they decided to create Agrocenta in order to help the smallfarmers.
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Lumkani - Early Warning Fire Detection System | Engineering For Change - 0 views
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Lumkani is a small fire alarm that registers the rate at which heat rises within a small residence indicating when there might be a fire risk. It then connects with neighboring devices, setting off a chain of alarms so that neighbors can intervene. Newer versions also communicate with home owners via SMS, as well as with local emergency services.
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Lumkani has updated its system according to advanced technology. For example, nowadays, they send alarms via SMS.
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SA SME wins prestigious humanitarian award and €1-million - Ventureburn - 0 views
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Lumkani functions as a social enterprise that aims to diminish or lessen the loss of life and property caused by potential shack fires in the township areas across South Africa and the world.
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Having devices like Lumkani are essential everywhere because they help prevent loss of life.
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Zeepay - United Nations Partnerships for SDGs platform - 0 views
sustainabledevelopment.un.org/...partners
Sustainable Development Goals Fintech Mobile Service Money Ghana
shared by aminej on 12 Feb 21
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Zeepay’s objective is to include about 50% of the unbanked population and to ease payments and collections for the banked population in Ghana through the provision of mobile financial services with retail enablement.
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They are also aiming to achieve some sustainable development goals (1/5/10/17), mostly by reducing the number of unbanked people wich remains one of the biggest challenges of African countries
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South African fintech startup Jumo raises second $50M+ VC round | TechCrunch - 0 views
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South African fintech startup Jumo closed a $55 million round from a diverse group of investors, the company confirmed.
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Nigeria, in particular, has become Africa’s unofficial capital for fintech development, surpassing Kenya in 2019 for drawing the most fintech specific and overall VC on the continent
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Jumo joins a growing list of African digital-finance startups raising big money from outside investors and expanding abroad.
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Jumo is active in six markets and plans to expand to two new countries in Africa (Nigeria and Ivory Coast) and two in Asia (Bangladesh and India).
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Jumo joins a growing list of African digital-finance startups raising big money from outside investors and expanding abroad.
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“I’m excited for our next phase. This backing will help us build a better business and break new ground,” Jumo founder Andrew Watkins-Ball said.
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the company has closed around 55 million USD from many investors, which will help the company to expand its products and reach new objectives
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Founded in 2015 and based in Cape Town, the venture offers a full tech stack for partners to build savings, lending, and insurance products for customers in emerging markets.This week’s funding follows a $52 million raise by Jumo in 2018, led by U.S. investment bank Goldman Sachs, that saw the startup expand to Asia.“This fresh investment comes from new and existing…investors including Goldman Sachs, Odey Asset Management and LeapFrog Investments,” Jumo said in a statement — though Goldman told TechCrunch its participation in this week’s round isn’t confirmed.After the latest haul, Jumo has raised $146 million in capital, according to Crunchbase.With its latest raise, the company plans to move into new markets and launch new products in Asia and Africa.
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This excerpt is important because it describes first what Jumo proposes as product/services offerings. Thereafter, it tackles the history of funding secured by Jumo in addition to the list of investors that support the company. Finally, the excerpt explains how Jumo intends on investing the money raised, namely expansion in new markets in Asia and Africa in addition to the launch of new products.
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Nigeria, in particular, has become Africa’s unofficial capital for fintech development, surpassing Kenya in 2019 for drawing the most fintech specific and overall VC on the continent
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this excerpt is important because it shows us how jumo expending not only in Africa but also in Asia making fintech grow all over the world
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JUMO is attracting investors and that means JUMO is doing a great job. Investors are believing in this business and they want to be part of it. That's what happens when you believe in an idea and work hard to improve it.
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M-Pesa - 0 views
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M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
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It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services. Now, M-Pesa provides over 42 million people with a safe, secure and affordable way to send and receive money, top-up airtime, make bill payments, receive salaries, get short-term loans and much more.
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Even if people do not have bank accounts, they can still use M-PESA because it allows them to have access to financial services through their mobile phones.
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In early 2020, Vodacom & Safaricom completed the acquisition of the M-Pesa brand from Vodafone Group through a newly created joint venture. The joint venture will accelerate the growth of M-Pesa through Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-Pesa into new African markets
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after that Vodacom & Safaricom acquired M-Pesa brand from the Vodafone group, they created a new joint venture that will help M-pesa to grow across Africa, which I believe is a big opportunity for the group
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M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
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Thanks to its large Fintech platform, M-Pesa has managed to target both banked and unbanked people. Also, what distinguishes it, is that it does not require people to have a bank account in order to have access to its financial services, they only need to have a mobile phone.
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In 2019, our 41.5 million active customers carried out over 12 billion transactions
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This article states that M-pesa is the continent's leader in mobile money services with over 41,5 million customers from all over the continent.
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M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
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This excerpt is important because it defines M-Pesa as Fintech Platform, their services, and their customer target
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Send and receive moneyDomestic transfers: M-Pesa customers can send money in real time to any other M-Pesa customer with an account registered in the same country. In most markets customers can now send money to mobile money users on other networks as well.International transfers: Through our international remittance partners, M-Pesa customers can receive and send money across borders in real time.
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This excerpt describes the core services provided by M-Pesa, namely domestic transfers and international transfers.
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LoansM-Pesa customers build a credit score that enables them to access loans via our bank partners. Products include M-Shwari and KCB M-Pesa in Kenya and M-Pawa in Tanzania. We work hard to ensure customers not only have access to credit but are also educated so they understand the implications of a loan.
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This particular excerpt explains how M-Pesa provides underbanked/unbanked customers with access to loans that would change their lives and ameliorate their condition.
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This page is important because it enumerates all of the different product and service offerings provided by M-Pesa, which is important to know in order to acquire a comprehensive knowledge and understanding of the company's actions.
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What is M-Pesa?
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M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience. It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services.
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Established on 6th March 2007 by Vodafone's Kenyan associate, Safaricom, M-Pesa is Africa's leading mobile money service with more than 430,000 active agents operating across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique and Tanzania.
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This service permits clients to store cash into an account put away on their cell phone, and send it utilizing an individual recognizable proof number and secure SMS. This makes it conceivable to pay for products and services and to guarantee standard payments.
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JUMO wins UNCDF's Sprint4Women Design Competition in Zambia - UN Capital Development Fu... - 0 views
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UN Capital Development Fund (UNCDF) is pleased to announce that JUMO has won their Sprint4Women Design Competition for women’s financial inclusion in Zambia. JUMO was one of three finalists competing for a grant to roll-out digital financial services (DFS) solutions for the rural women of Zambia, alongside Fenix Zambia and Hobbiton Investments.
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JUMO wins UNCDF’s Sprint4Women Design Competition in Zambia - UN Capital Development Fund (UNCDF)
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JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
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Jumo scored highest of the three companies and will be awarded a $85,000 grant once the UNCDF grant review process is completed.
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JUMO partners with forward-thinking funding and data/distribution partners to deliver digital financial services and will be working with Absa Bank Zambia PLC and MTN Zambia to provide these improvements.
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Jumo won many awards all over the worlds and grants that will help it as a company to grow and expand its business into other countries
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As one of the first providers of non-collateral-based, digital lending products that can make funds available in minutes, JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
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To win the competition, the companies needed to demonstrate: that their product fits the needs of rural women, how they would increase the number of women customers signing up for and using DFS, and that the company could scale their product to at least 30,000 new customers, with at least 60% of them being women.
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JUMO's social work is a brilliant idea because it's a key to win customers heart. Also, expanding to other African countries with the idea of improving their lifestyle can only be beneficial for the company because people of that country are going to spread positive word of mouth about the company.
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I like how JUMO is helping businesswomen in Zambia to access lending products to run their business. Women suffer a lot from the lack of financial inclusion, and with JUMO, we can fight this phenomenon.
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The Anglophones Are Coming | Global Finance Magazine - 0 views
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In January, Flutterwave announced a takedown of US$35 million to boost its expansion into sub-Saharan Francophone markets and North Africa. A month later, Jumo pushed its cumulative fundraising since 2015 to nearly US$150 million with a successful plea for cash to back its initiatives in Côte D’Ivoire, Nigeria and elsewhere on the continent.
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JUMO is expanding in all Africa and it shows that the company aspire to dominate the whole African continent in its domain. I like this kind of behavior because when things are doing great, you have to aspire for everything!
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FarmDrive - EWB Canada - 0 views
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FarmDrive - EWB Canada
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FarmDrive uses data analytics to connect smallholder farmers with financial institutions and credit, enabling crops and farmers to flourish. And all through a mobile phone.
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FarmDrive uses data analytics and mobile technology to create financial profiles for farmers through a credit scoring model. When the financial institutions can view comprehensive profiles of a farmer’s economic performance, they are more likely to approve loans.By unlocking access to credit, FarmDrive enables smallholder farmers to access: Loans to purchase vital tools and assets. Insurance to bolster to protect against the natural seasonal vulnerabilities of farm work. Comprehensive financial profiles of their farming operations: a useful resource in scaling to service multiple partners or larger supply chains.
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As a result, farmers can: Grow their businesses. Provide additional business opportunities for local communities. Promote local employment. Create more food, health and education.
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FarmDrive uses data analytics and mobile technology to create financial profiles for farmers through a credit scoring model. When the financial institutions can view comprehensive profiles of a farmer’s economic performance, they are more likely to approve loans.By unlocking access to credit, FarmDrive enables smallholder farmers to access: Loans to purchase vital tools and assets. Insurance to bolster to protect against the natural seasonal vulnerabilities of farm work. Comprehensive financial profiles of their farming operations: a useful resource in scaling to service multiple partners or larger supply chains.
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As a result, farmers can: Grow their businesses. Provide additional business opportunities for local communities. Promote local employment. Create more food, health and education.
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Ghanaian fintech startup Zeepay raises $940k seed funding round - Disrupt Africa - 0 views
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GoodSoil has helped Zeepay raise almost 1 million US dollars which is huge and will help this startup spread in more than the 20 countries in which they are already operating.
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Ghanaian fintech startup Zeepay has raised a US$940,000 seed funding round to enable it to continue to scale and roll out its services across the continent. Zeepay is focused on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, bank accounts and digital tokens to international money transfer operators, payments, subscriptions, international airtime and refugee payments.
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Ghanaian fintech startup Zeepay raises $940k seed funding round
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Zeepay has raised US$940 seed round from GOODsoil VC, an Africa focused early stage venture capital firm, which enabled zeepay continue to scale
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The startup has a footprint in more than 20 African markets, and in April 2020 was awarded an Electronic Money Issuer (EMI) license to operate as a mobile financial services company by the Bank of Ghana, the regulator of banking and financial services.
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It has now raised a US$940,000 seed round from GOODsoil VC, an Africa-focused early-stage venture capital firm founded in 2017, which will enable Zeepay to continue to scale. The startup has a United Kingdom (UK) launch planned for 2021.
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By applying good strategies, Zeepay will keep scaling throughout the years.
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M-Pesa: Most Innovative Company | Fast Company - 0 views
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Like many parts of the developing world, Africans are significantly less likely to have bank accounts and credit or debit cards. But mobile phones have penetrated the African market, and in countries such as Nigeria and Kenya, the majority of people have a workable phone.
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M-Pesa is a Kenyan mobile payments platform, one of the first of its kind in Africa (
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he service has been a runaway success since launching in 2007, operating in 10 countries across Africa, the Middle East, and Southeast Asia and earning Safaricom 19.4 billion shillings (about $190 million) in the first half of 2015. It seems likely that as cell phone use continues to proliferate on the African continent, M-Pesa's transactions will grow, too.
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As mentioned in the article, Africans are less likely to have bank accounts, so it is a very good idea to create such a service. In addition, almost everyone has a cell phone, so it will be easier for them to use this platform to send and receive money than to set up a bank account.
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M-pesa has made the smart choice of opting for the African continent since there is a considerable number of unbanked people, yet it is experiencing an increase in the use of mobile phones.
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Kenya's FarmDrive Receives Additional Investment Led By Existing Backer - 0 views
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This FinTech startup founded by two Kenyan women is positioned to reach 3 million smallholder farmers in Kenya in the next 5 years.
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FD uses mobile technology, predictive modelling, AI and a customer first approach to democratize access to loans to all farmers; ensuring farmers can apply for a loan from any type of phone and receive a decision on their loan application in seconds. FD has achieved this by building multiple channels of access and a fully automated lending process.
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Previously, FD received $50,000 USD of early-stage seed funding from EWB Canada to develop their platform and prove to financial service providers that smallholder farmers are profitable clients.
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In the last 4 years, FD has seen that their loans increase the productivity and incomes of farmers and has led to reduced costs, increased scale, and improved quality of agricultural portfolios for lenders.
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In the last 4 years, FD has seen that their loans increase the productivity and incomes of farmers and has led to reduced costs, increased scale, and improved quality of agricultural portfolios for lenders.
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FarmDrive (FD), a Kenyan startup set to unlock millions of dollars in loans for smallholder farmers in Kenya and sub-Saharan Africa, received a follow-on investment from EWB Canada last month, with participation from AK IMPACT INVESTORS, 1 to 4 Foundation, ADAP SEED FUND 2 and The Lakes Charitable Foundation.
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JUMO Empowers Asian And African Market With Over $2.5 Billion, Eyes Nigeria, 2 Others - 2 views
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JUMO also has a mobile wallet technology that offers an easy-to-use service that is accessible via mobile devices.Watkins-Ball commented on the cost-effective technology used to collect information which strengthened the business model, He said: “When we founded JUMO, we were always clear that we can only achieve our mission by leveraging sophisticated information technologies at really low cost.
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JUMO Empowers Asian And African Market With Over $2.5 Billion, Eyes Nigeria, 2 Others
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JUMO is one of South Africa’s next-generation fintech companies offering emerging market entrepreneurs financial services.
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The tech startup was built as a unique platform to help facilitate digital financial services such as credit, and savings in emerging markets, and has handed out over $1.8 billion prior to date since its founding in London in 2015.
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it has partnered with telecommunications companies, funders, and banks, to create accessible financial tools, and insurance products targeted at entrepreneurs in emerging markets, and also offers accessible financial services to both Asia and Africa's unbanked populations.
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“We’re optimistic about the possibilities in these markets and continue to see huge growth opportunities in Africa, with the potential to replicate our successes in other markets over the longer term.”
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Jumo also hopes to explore the Indian, Nigerian, and Ivorian markets in no distant future.
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JUMO Empowers Asian And African Market With Over $2.5 Billion, Eyes Nigeria, 2 Others
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JUMO is one of South Africa’s next-generation fintech companies offering emerging market entrepreneurs financial services.
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Jumo won many awards all over the worlds and grants that will help it as a company to grow and expand its business into other countries
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The tech startup was built as a unique platform to help facilitate digital financial services such as credit, and savings in emerging markets, and has handed out over $1.8 billion prior to date since its founding in London in 2015.
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I like the way that JUMO is clear about delivering a great technology with a low cost! I think that Fintechs must act based on this logic.
