Spring 21 Capstone 640pm

Abacus builds web and mobile software to help investors across the globe access African financial markets. We make it possible for both local and international investors to research and invest, anytime, anywhere.

ape Town-based remittance and money transfer provider Mukuru has reached over seven million customers globally and is looking to extend its footprint across Southern Africa.Mukuru enables affordable and reliable financial services to underserved communities. Its remittance service offers customers the opportunity to send or receive money, with users in over 20 countries across Africa and Asia. Services include sending cash for collection, bank account top-up or mobile wallet transfers.Additional offerings include funeral cover, the Mukuru Money Card and various payment solutions targeted at businesses in emerging markets. Transactions can be conducted either physically at any of its network branches, or via its digital platforms, mobile app, USSD or WhatsApp.While the company operates in over 20 countries, the mobile app is currently only available for download in SA and it is preparing to roll it out broadly across Botswana, Malawi, Zimbabwe, Zambia, the UK and EU over the next 12 months.

“Since Sub-Saharan Africa is traditionally considered a challenging region from the remittance perspective, we are glad to extend our service to an institution that just recently has satisfied the scrutiny of the local regulator,” said Dima Kats, CEO of Clear Junction. “Our correspondent account service will lower the entry barrier for Zeepay when rolling out the payment collection in the EU and UK.”

“Since Sub-Saharan Africa is traditionally considered a challenging region from the remittance perspective, we are glad to extend our service to an institution that just recently has satisfied the scrutiny of the local regulator,” said Dima Kats, CEO of Clear Junction. “Our correspondent account service will lower the entry barrier for Zeepay when rolling out the payment collection in the EU and UK.”

Devant l’incapacité des institutions financières à répondre à ses besoins, Ahmed Wadi, diplômé en informatique et start-uppeur en herbe, a tout simplement décidé de créer le service qui lui manquait lui-même. Inspiré des modèles traditionnels de micro-crédits, les Gemeyas, il a réinventé le principe grâce au digital, étendant ainsi leurs nombreux avantages à qui que ce soit, et de manière sécurisée.

A new Kenyan startup called Abacus (www.abacus.co.ke) is a licensed data vendor with the Nairobi Securities Exchange(NSE).Its been in existence since 2015 and just early this year,in partnership with Genghis Capital and Chase bank,they began offering subscribers the ability to deposit,buy,sell and trade unit trusts,bonds and equities on their platform.

A new Kenyan startup called Abacus (www.abacus.co.ke) is a licensed data vendor with the Nairobi Securities Exchange(NSE).Its been in existence since 2015 and just early this year,in partnership with Genghis Capital and Chase bank,they began offering subscribers the ability to deposit,buy,sell and trade unit trusts,bonds and equities on their platform.

All in all,Abacus allows you to easily get started on the road to investing in the NSE,its available on the web through www.abacus.co.ke and the android app is available on the Google play store,A basic subscriber account is easy to set up and allows one to easily get started with practise trading with virtual funds and realtime NSE data on market open so that one can learn.

MTN Mobile Money (MoMo) subscribers in Cameroon can now receive international money transfers through MoneyGram directly into their mobile wallets

He described an average African user as highly dependent on a mobile device for accessing financial services. Takyi-Appiah also talked about how an innovative yet simple platform built on the over-the-top (OTT) instant messaging service players such as WhatsApp could offer the scale to penetrate millions who do not have access to formal financial services across the African sub-continent and help transform its payment ecosystem.

“In 2018, mobile and online payments to emerging markets reached a record high of $528 billion and we expect this number to increase. As WorldRemit handles a growing share of this market, we look forward to continue working with the company to scale its digital platform and expand its service to reach many new customers across the globe,” TCV General Partner John Doran said in the press release.

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. 

Wireless carrier MTN Group and global payment services giant Western Union Co. have partnered to introduce international mobile remittance services in 21 countries across Africa and the Middle East.

“Abacus fulfills two requirements that help us make our expense reporting more efficient - a simple interface that helps our employees submit accurate expenses in real time, and powerful rule-based automation that we can customize to our policy so expenses are auto-approved or sent to the best person to review and approve.”Daniel Niccum, CFO, North American Substation Services

“Egypt needs fintech, specifically after the success story of Fawry, since our financial markets are not properly regulated at the level of payments and e-commerce – all of it is more informal, so any solutions would boom,” Sharara says.

MoneyFellows, an Egyptian startup incubated in London, marries technology with traditional money circles to help people save and borrow through their social networks. Like many other startups, MoneyFellows has to work with commercial banks because the Egyptian government has strict regulations about institutions that can look after customers’ deposits.

We live in a world of instant global communication. Yet the business of sending money abroad has remained stuck in the past. Many money transfer companies still make their customers visit an agent and fill-out bits of paper. And despite the inconvenience, their rates are often punishing.

Fawry is yet to announce the results for fourth quarter of 2020 but for the first nine months of last year, the company made about $57 million (EGP 892.7 million) in revenue, an 45.2 percent increase year-on-year basis. For the same period, it doubled its net profit (on a YoY basis) to $7.5 million (EGP 119 million). The company has been witnessing decent growth over the last few years but it seems that Covid-19 has accelerated it even further.

Zeepay Ghana has been awarded the 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

Abacus, the #1 mid-market expense reporting software listed on G2 Crowd, is the only truly real-time expense reporting solution on the market. It is the easiest way for a company to reimburse its teams, implement their expense policy, and reconcile corporate credit cards throughout the month. More than 1,000 customers use Abacus, including GLG, Coinbase, and Betterment.

WorldRemit’s low fees and exchange rates are shown up-front and customers can send money easily via the company’s website and app. By extending its money transfer service to SMEs, WorldRemit will save businesses time and money when they make international payments.

Today, we’re pleased to extend that service offering to businesses, and put an end to the steep fees that many pay, especially when sending to Ghana. We’re committed to making it quick, safe and easy for you to pay individuals across borders, leaving you to focus on growing your own business.”

Through its Venture Capital investment platform, the Technology Investment Account (TIA), More Capital participated in an USD 1 Million Pre-Series A Bridge Round raised by Cairo-based Fintech Money Fellows.