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mohammed_ab

Kenyan insurtech startup Pula raises $6M Series A to derisk smallholder farmers across ... - 1 views

techcrunch.com/...-series-a-led-by-tlcom-capital

Pula Insurtech Micro Insurance Africa

shared by mohammed_ab on 10 Feb 21 - No Cached
  • Another startup is Apollo Agriculture which raised $6 million Series A, akin to Pula. Not only did the pair raise the same round, Apollo Agriculture and Pula both deal with providing financial resources to smallholder farmers.
    • nourserghini
      nourserghini on 10 Feb 21
       
      Apollo Agriculture is another rival in the industry that is also considered as a partner and complement in the industry.
  • Pula is solving this problem by using technology and data. Through its Area Yield Index Insurance product, the insurtech startup leverages machine learning, crop-cut experiments and data points relating to weather patterns and farmer losses, to build products that cater to various risks.But getting farmers on board has never been easy, Goslinga told TechCrunch. According to her, Pula has understood not to sell insurance directly to small-scale farmers, because they can suffer from optimism bias. “Some think a climate disaster wouldn’t hit their farms for a particular season; hence, they don’t ask for insurance initially. But if they witness any of these climate risks during the season, they would want to get insurance, which is counterproductive to Pula,” said the founder in a phone call.
  • Pula, a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million.The round was led by Pan-African early-stage venture capital firm, TLcom Capital, with participation from nonprofit Women’s World Banking. The raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018.
    • aminej
      aminej on 12 Feb 21
       
      Pula has managed to raise over 6 million $ which is good for them since they will be able to help more farmers get insurance on their products. Keeping in mind that Agricultural insurance costs 4$ in Africa compared to other places where it costs at least 1000$
  • ...1 more annotation...
  • Agriculture insurance has traditionally relied on farm business. In the U.S. or Europe with typically large farms, an average insurance premium is $1,000. But in Africa, where smallholding or small-scale farms are the norm, the number stands at an average of $4.It is particularly telling that the value of agricultural insurance premiums in Africa represents less than 1% of the world’s total when the continent has 17% of the world’s arable land. 
  • hichamachir on 12 Feb 21
     
    Pula studies the risks that they might find with small scale farmers. I like this kind of behavior because you need to study every possible problem so you can outcome it the best way possible.
  • mohammed_ab on 13 Feb 21
     
    What got my attention in this article is the disparity in insurance prices (premiums) between European and African countries. We see that the premiums for insurance for African farmers are only 1% the price of insurance for European farmers. This shows the big difference in purchasing power between African and European countries.
hibaerrai

Similar Money Remittance Alternatives to WorldRemit - 0 views

www.thecurrencyshop.com.au/...sfer-companies-like-worldremit

WorldRemit Remittance Competitors

shared by hibaerrai on 10 Feb 21 - No Cached
  • Remitly TransferWise XE TorFX PayPal
    • hibaerrai
      hibaerrai on 10 Feb 21
       
      WorldRemit competitors are the following: Remitly: money transfer platform similar to worldremit. They both specialize in remittances. Transferwise: security XE money transfer, TorFX: No transfer fees compared to worldremit which imposes fees. Paypal: the most popular payment platform in the world.
hibaerrai

Y Combinator-backed Thndr receives first new brokerage license of Egypt in ten years fo... - 0 views

www.menabytes.com/thndr-brokerage-license

Thndr Egypt Fintech Investment Securities

shared by hibaerrai on 10 Feb 21 - No Cached
  • Founded in 2019 by Uber Egypt’s former General Manager Ahmad Hammouda, Thndr is starting with a Robinhood-like mobile-first equities trading platform that enables people to invest in stocks in The Egyptian Exchange.
    • ayachehbouni
      ayachehbouni on 10 Feb 21
       
      Thndr hopes to increase Egypt's financial literacy which is key for families to move up in social mobility.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      This fintech encourages egyptian individuals to invest more in stocks and bonds and other securities. The goal is to enhance investments in the country.
  • Ahmad Hammouda, the co-founder and CEO of Thndr, said, “Our vision is to put wealth in the hands of everyday individuals. With the rise of technology, and the foresight of a very supportive Financial Regulatory Authority, we can make this vision come to life — Egypt is expected to be the 7th largest economy by 2030 and has more than 100 mn people, most of which are young and are looking for a convenient and digital way to invest their money. That’s why we are excited to bring a new breed of young investors to the market.”
    • aminej
      aminej on 12 Feb 21
       
      I love the fact that people in Egypt are really concerned about teaching the young generation some important concepts such as trading and investing in either national or international markets
nourserghini

Abacus - VC4A - 0 views

vc4a.com/abacus

Abacus E-trade Africa Kenya

shared by nourserghini on 10 Feb 21 - No Cached
  • Abacus allows investors, locally and in the diaspora, to invest in equities, fixed income, unit trust, real estate and unlisted securities in Kenya.
    • ayachehbouni
      ayachehbouni on 10 Feb 21
       
      Abacus builds web and mobile software to help investors across the globe access African financial markets. It makes it possible for both local and international investors to research and invest, any time, any where.
  • We are looking to cover at least 50% of Africa’s financial markets by 2019. We are an e*trade for Africa.We provide real time data and news, research, analyses and insights, technology driven advisory and community forums with investing leaderboards where you can see, copy or follow other investors’ activity. 
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article states that Abacus Kenya is planning on covering about 50% or more in the African financial market these past years, by providing significant data and insights as well as community forums with investors.
mbellakbail69

Egypt's MoneyFellows raises $4 million Series A to expand its digital money circles pla... - 0 views

www.menabytes.com/moneyfellows-series-a

shared by mbellakbail69 on 10 Feb 21 - No Cached
  • Founded in late 2016 by Ahmed Wadi, MoneyFellows has digitized the concept of money circles (ROSCAs) which are commonly known as gam’eya in Egypt and other Arab countries, through its online platform.
    • ayachehbouni
      ayachehbouni on 10 Feb 21
       
      The Egyptian fintech currently has over 150,000 active users that are verified by a user assessment algorithm. It also works with different corporates in Egypt, enabling their employees to participate in the money circles for saving money.
  • Egypt's MoneyFellows raises $4 million Series A to expand its digital money circles platform to Africa
    • ayoubb
      ayoubb on 13 Feb 21
       
      MoneyFellows
  • MoneyFellows with its mobile-based platform has digitized this entire process with a scoring model that compliments offline model, making it more scalable, safe, and efficient. In a statement, the Egyptian fintech said that it currently has over 150,000 active users that are verified by a user assessment algorithm. It also works with different corporates in Egypt, enabling their employees to participate in the money circles for saving money. 
tahaemsd

Hello Paisa goes global with Western Union - 0 views

www.finextra.com/...goes-global-with-western-union

Fintech Africa Payments modernization Service

shared by tahaemsd on 10 Feb 21 - No Cached
  • “We have identified an opportunity for effective global collaboration to do our part in enhancing financial inclusion for migrants living in South Africa. Through this partnership, we have been able to expand our reach globally, sparing our customers the hassle to travel long distances to collect their money as we now leverage off Western Union’s vast network of retail agents, bank account and wallet payout capabilities,”
    • kenza_abdelhaq
      kenza_abdelhaq on 10 Feb 21
       
      The South African payment company expands its operations and its reach by partnering up with the global corporation Western Union. This allows the enhancement of financial inclusion mainly in South Africa and allows people to have quick and convenient access to their money.
  • Hello Paisa, one of South Africa’s largest international money transfer providers and Western Union, a global leader in cross-border, cross-currency money movement and payments today announced they have joined forces to enable Hello Paisa customers to send global money transfers for payout at the global network of Western Union.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      This partnership enables hellopaisa customers to send money from south africa to their family and loved ones for pay-out into billions of bank accounts
kenza_abdelhaq

Lumkani - 0 views

www.accion.org/otect-families-in-south-africa

Lumkani South Africa Insurtech

shared by kenza_abdelhaq on 10 Feb 21 - No Cached
  • Lumkani, a Johannesburg-based startup that leverages proprietary hardware and a tech-enabled agent network to provide customers living in informal settlements within South Africa with insurance products that protect against loss of life, shelter, and assets in the case of a home fire. Lumkani, which means ‘be careful’ in Xhosa, originally began as a hardware company, deploying its first fire detector in late 2014. Within the first 18 months, they were able to prove that their technology “in 73 percent of cases was able to reduce the spreading of fires [beyond] the first home.” But it was not enough just to alert the community and stop the spreading of fires.
    • kenza_abdelhaq
      kenza_abdelhaq on 10 Feb 21
       
      Starting off as a hardware company that helped low-income families and informal settlements, Lumkani quickly shifted to the new technologies and partnered up with the insurance company Hollard to not only detect fire but to have access to fire insurance.
  • Destructive fires are a regular, and potentially devastating, occurrence for the approximately 10 million South Africans that live in informal settlement communities. These townships are particularly susceptible to the threat of fires due to the use of flammable building materials, the ubiquity of open flame fires, limited space between dwellings, and a lack of road infrastructure for adequate emergency response.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Such devices are a must have in regions where fires are regular. It was smart to present such a device in South Africa because almost 10 million South Africans are affected by such tragic events.
  • With that problem in mind, Lumkani, partnered with Hollard, a South African-based insurance company, to develop the world’s first hardware-enabled fire insurance specifically designed for informal settlements. To serve clients that had been ignored by traditional financial service providers previously, the company has created an efficient, engaging, and easy to manage experience for its low-income customers.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani developed hardware-enabled fire insurance to detect fires in informal settlements and partnered up with the insurance company Hollard to provide this segment with solutions and experience that was not made available to them by traditional financial service providers.
hichamachir

He Grew Up on a Farm. Now, He Helps Protect Them. - The New York Times - 0 views

www.nytimes.com/...rance-africa-thomas-njeru.html

Pula Mission Insurance Agriculture

shared by hichamachir on 10 Feb 21 - No Cached
  • If you would have told me 10 years ago that I would be running a company that does agriculture insurance, I would not have believed you. Agriculture has not been an area that people have invested in across Africa. Many of my cousins and childhood friends still work on their farms, but they are reluctant to invest, putting in only what they can afford to lose.The reason they don’t invest is simple. The chance of them losing their money due to the vagaries of the weather is huge. Working in insurance got me to understand about probabilities of loss early on — probabilities that cause our continent to be food insecure.
  • Pula’s mission is to give farmers confidence by providing risk mitigation. Our solutions protect a farmer’s investment by pairing it with insurance. We build business cases to persuade Fortune 500 companies, seed and fertilizer suppliers, lending institutions, and governments in Africa, that embedded insurance will help deliver better results for both businesses and food security.
  • mohammed_ab on 10 Feb 21
     
    This article shows how investments in the insurtech industry have grown in Africa over thas past years. It explains the different reasons why people were reluctant to invest in this industry, especially in Africa. The article also explains how the founder of Pula, who was originally a farmer himself, came up with an innovative idea to protect farmers from weather uncertainty.
  • hichamachir on 13 Feb 21
     
    I like they way Pula stated that its mission is to protect farmers. Pula is playing it smart by talking about customer protection because it makes the customers feel safe.
hindelquarrouti

World Bank Document - 1 views

openknowledge.worldbank.org/...tion-in-Financial-Services.pdf

WorldCover Financial Risk Climate change

shared by hindelquarrouti on 10 Feb 21 - No Cached
  • hindelquarrouti on 10 Feb 21
     
    Thanks to the help of artificial intelligence, WorldCover tries to manage the financial risks that are related to changes in the climate. As well as, it helps mane the risks related to unpredictable natural disasters.
kaoutarchennoufi

SmartelMoney | Products & Services - 0 views

smartelmoney.com/products-services

CustomerBase Wide LoyalCustomers WoM

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • sawsanenn
      sawsanenn on 10 Feb 21
       
      the benefits of using the application include; that business people will get new customers and widens the reach of their market base as it will be very easy to pay or receive cash conveniently.
  • Are acronyms for the Smartel Money Point of sales system and the Smartel Money Mobile point of sales systems respectively. These are the application systemsthat have access an access to the Smartel Money central engine. The sPOS runs on the normal desktop or a laptop computer, This system is connected to the Smartel Money central system, this system is used by the stationery merchants such as the grocers and has the capacity to parse smartel money as a payment instrument. The merchant may also chose to have the ERP linked to their sPOS. The smPOS is meant for the non-stationery merchant, as it runs on a mobile platform that is the iOS and android OS. Both the sPOS and the smPOS can use the CPEM and the security code scanning/tagging parsing technologies.
    • aminej
      aminej on 12 Feb 21
       
      They also thought about everything when it comes to safety measures since it is very important to comfort people that their money are in safe hands. Indeed, these measures are important to take in order to avoid a leak of information which could cause many issues to the Fintech
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      Another added value of Smartelmoney , is that it has a wide customer base including banked and unbanked people in addition to other organizations. I believe that this large customer will gives the organization a better chance of reaching out to more people and expanding the base. Loyal customers are always effective in spreading a good word of mouth which will eventually attract more customers.
  • ghtazi on 10 Feb 21
     
    It will also help them to improve their brand image as they will be able to market their businesses by advising clients with the easy way of paying and receiving money..
sawsanenn

Fawry | E-Payment & Digital Transformation Leading Platform in Egypt - 0 views

fawry.com

FinTech E-payments

shared by sawsanenn on 10 Feb 21 - No Cached
  • Fawry is the leading digital transformation & E-payment platform in Egypt, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels. In addition Fawry considered as a provider of payment gateway in Egypt and e-commerce solutions. Know More
    • sawsanenn
      sawsanenn on 10 Feb 21
       
      The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that - which is also evident from the company's just-announced financials for the second quarter.
sawsanenn

Paga: Send and Receive Money - 0 views

www.mypaga.com

Nigeria FinTech E-payments

shared by sawsanenn on 10 Feb 21 - No Cached
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone.
    • sawsanenn
      sawsanenn on 10 Feb 21
       
      These types of digital financial services offered to the mass market and increasing the usage of mobile money can play a strong role in promoting inclusive growth.
  • Banked or unbanked, online or offline Paga offers you a central place for simple money transfers.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Like simbapay, Paga's target customers are the ones that have a Smartphone. it does not matter if they are banked or not.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects what Paga proposes for individuals (banked or unbanked) very briefly.
  • Paga for Agents Earn a commission for every transaction you perform for your customers. Paga for Business Accept payments or disburse money to banked or unbanked customers in Nigeria
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it provides a concise introduction of what Paga offers for Agents (a commission on every transaction) and for Businesses (receive or make payments to banked or unbanked customers) in Nigeria.
  • ...2 more annotations...
  • We ensure that your money is safe by complying with the highest global security standards.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it claims that Paga is compliant with the highest global security standards. It is very good to know that because cyber security is a core concern for all companies offering digital services.
  • Enjoy a smooth and stress-free money transfer experience across all your devices.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      paga offers a free and easy money transfer that make transactions go smoothly without any technical issues
kaoutarchennoufi

About Us - Fawry - 1 views

fawry.com/aboutus

Fawry Own-patent InternationalStandards Security

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • ghtazi
      ghtazi on 10 Feb 21
       
      Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry offers a variety of services from groceries, to pharmacies, to banking, etc. It's a platform that contains many services to facilitate operations.
  • Based on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than 3 million financial operations daily.Fawry services for businesses include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centers.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry is a very powerful Egyptian Digital Transformation and E-payments platform thanks to its diverse services provided and its high performance that reaches 3 million financial operations daily. The impressive thing is that it has its own patent that respects the international security standards.
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry is the largest e-payments platform in Egypt. It proposes all financial services important for the daily life of citizens which makes paying bills and others easier.
  • ...2 more annotations...
  • About Us - Fawry
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)
ghtazi

Paga: Send and Receive Money - 1 views

www.mypaga.com/home

FinTech E-payments Financial inclusion

shared by ghtazi on 10 Feb 21 - No Cached
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone
    • ghtazi
      ghtazi on 10 Feb 21
       
      Increase the country-wide footprint of Paga agents in Nigeria to promote financial inclusion in Nigeria and drive usage of a mobile wallet and other digital financial services. Using a market leader position to positively influence system wide change while enabling other promising technologies.
mohammed_ab

Ethiopia: "Mobile money doubled my number of customers in just three years"Et... - 0 views

www.betterthancash.org/...-customers-in-just-three-years

BelCash MobilePayment Ethiopia

shared by mohammed_ab on 10 Feb 21 - No Cached
  • Bisharo’s story is one of the many urban merchants who have discovered the power of digital payments for their businesses. Over the past few years, technology providers such as BelCash with their HelloCash mobile money, product working closely with the Somali Microfinance Institution, have made significant progress in helping merchants like Bisharo realize the benefits of digitizing payments.
  • mohammed_ab on 10 Feb 21
     
    This article shows how mobile money has enabled a small shop owner in Addis Ababa, Ethiopia, has been able to generate more revenue just by letting its customers pay with mobile money. It also demonstrates the convenience that mobile payments have on its users especially for sellers. I really liked the story of Bisharo, the owner of that small shop, whose life has changed because of a fintech solution.
aminej

YenePay - Pay Online in Ethiopia - 0 views

www.yenepay.com/merchant

Ethiopia Fintech Platform Mobile Payments Transfer Services Online Competitors

shared by aminej on 10 Feb 21 - No Cached
  • Our platform allows you to grow your business the way it should without having to worry about collecting payments from your customers.
    • aminej
      aminej on 10 Feb 21
       
      Yenepay offers a different type of service than Ethiopay but it is almost the same since Yenepay also provides services such as receiving money from people and tracking payments in a safe way except that it is more for transactions between businesses and their customers not paying bills or school tuition.. I could not find many competitors since the market there is not really developped
aminej

M-BIRR - the first mobile money service in Ethiopia - 0 views

www.mbirr.com

Ethiopia Fintech Platform Mobile Payments Payment Services Online Bills Airlines

shared by aminej on 10 Feb 21 - No Cached
  • Send money to friends & family instantly M-BIRR is the fastest and easiest way to send money anywhere in Ethiopia. And it can be done anytime, day or night, from your mobile phone.
    • aminej
      aminej on 10 Feb 21
       
      M-BIRR is a competitor of Belcash since they both offer the almost the same service that consist of sending money to your dear ones anywhere in Ethiopia by just calling *818# which is quite convenient.
aminej

Accept online card payments with Yoco - 0 views

www.yoco.co.za/...product-overview

South Africa Fintech Platform Card Payments Mobile Contactless

shared by aminej on 10 Feb 21 - No Cached
  • Send payment links to your customers.For businesses with no online store.Take online card payments by sending your customer a payment link on WhatsApp, email, Facebook or Instagram.
    • aminej
      aminej on 10 Feb 21
       
      Yoco can be considered as a competitor of SnapScan since they both offer almost the same service except that Yoco is more focused on payment through social media or websites. They also offers other services like card payments (connected via bluetooth) that send payments to the phone without needing internet connection which can be useful for people in rural areas
samielbaqqali

Bango partners with TPay Mobile - 0 views

www.finextra.com/...ango-partners-with-tpay-mobile

Commerce Digal Payments Bango

shared by samielbaqqali on 11 Feb 21 - No Cached
  • Bango (AIM: BGO), the data-driven commerce company, and TPAY MOBILE FZ-LLC (TPAY MOBILE, the full-service digital payments platform for the Middle East, Africa, and Turkey, have formed a strategic partnership to increase access to digital commerce.
  • samielbaqqali on 11 Feb 21
     
    When there are two or more well developped companies, it is a great idea to form a partnership, in order to improve their industries, which in their case is the E-Commerce.
samielbaqqali

Driving App Monetisation for Developers in the Middle East and Africa With Huawei and T... - 0 views

thefintechtimes.com/ca-with-huawei-and-tpay-mobile

Huawei MEA Mobile Services

shared by samielbaqqali on 11 Feb 21 - No Cached
  • It was recently announced that global giant Huawei is cooperating with TPAY MOBILE to make it easier and more convenient for developers in the Middle East and Africa (MEA) region to monetise their apps on Huawei Mobile Services (HMS).
  • Leading digital merchant acquirer based in the United Arab Emirates (UAE), TPAY MOBILE, enables payment acceptance from 54 mobile payment providers (DCB and wallets), which are connected to over 580 million consumers across 24 countries through a single integration. Its shareholders include Helio
  • samielbaqqali on 11 Feb 21
     
    Making such a cooperation will ensure TPAY mobile that it will gain all the HUAWEI users from those regions, which is a huge number of customers as HUAWEI is very present on those places.
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