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Fresh regulations are often met with skepticism from startup founders, but digital lenders in Kenya largely seem to be upbeat about the new Digital Credit Providers law, saying it will bring order to the sector.
Digital lenders that share personal data of loan defaulters, with third parties, risk license withdrawal in Kenya after lawmakers added a clause – granting the banking regulator the mandate to revoke permits of operators who breach customer confidentiality – to the new law passed by the country’s National Assembly. .
In the past decade, numerous mobile lending apps have been launched in Kenya, riding on the growing need for quick loans. Under the new legislation, lenders are required to apply for licenses from the CBK, as compared to previously, when they only had to register to set up operations in the East African country. and PayPal-backed Tala.
The ABC would wrap together efforts such as TIGAR as a sharing portal, capacity building efforts for countries trying to create accessible book services and looking at issues like licensing. So, in the meanwhile, we will need to rely on licenses: permissions agreements. So, the publishers weren’t against all licensing.
Note from Beth: Lately, a question on my mind is whether or not the concept of Networked Nonprofits is a global one as I’ve had the opportunity to share some of the ideas beyond the US borders in Kenya and UK. I think Pratham Books , an NGO in India, is a networked nonprofit. Creative Commons to the rescue.
By leveraging Ramani’s technology, the MDCs can digitally track their operations easily and get financing based on the performance of their businesses. The startup recently received its lending license from the Bank of Tanzania, and has already introduced a 30-day inventory financing product in the market. “We
The brothers started the company in a niche digital lending market, but now, the company offers a plethora of services from savings to payments and investments. Also, in its quest to become a digital bank, Carbon acquired a microfinance bank license. Image Credits: Carbon. But that’s not the only event to keep an eye on.
Before Dash, Boampong was the co-founder of OMG Digital, a YC-backed Ghanaian media startup he started alongside Jesse Ghansah — the current CEO of Float — in 2016. . I was blown away by the ubiquity and convenience of mobile money in 2014 when I visited Kenya for the first time. African tech took center stage in 2021.
While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved in some countries. These startups digitize the supply chain and distribution to providers. “The However, a particular segment has achieved scale faster within the past year.
The Kenyan fintech Kwara was launched in 2019 to help credit unions (savings and credit cooperatives societies, SACCOs) in the East African country shift to digital platforms by providing them with its proprietary Back-end-as-a-service (BaaS) software. About 175 credit unions are licensed in Kenya to serve nearly 4.1
Last year, the company also said it acquired an international money transfer license with a WorldRemit partnership also in the works. Nigeria is Africa’s most populous nation, and with a large share of its people underbanked and unbanked , fintech is arguably the most promising digital sector in the country.
Kwara says the Kuscco deal comes at the right time in its plan to double down on Kenya. “We Kenya’s fintech Kwara lands $4 Million in seed round from Breega, SoftBank to build neobank for credit unions. In Kenya, only 175 deposit-taking saccos are licensed, as a vast majority remain unregulated.
to East African countries (Kenya, Uganda and Tanzania), thus ushering the Tanzanian fintech into the remittance business. The business opportunity for remittance is lucrative despite digital lenders vying for less than 20% of the international money market dominated by traditional offline players. and the E.U.,
This strategic acquisition will expand Smile Identity’s footprint across Africa and solidify its position as the continent’s leading identity verification and digital KYC provider, a part of the statement read. Other prominent use cases include AML checks, customer onboarding and fraud prevention.
Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and South Africa each have one. Amenli, founded by Shady El Tohfa and Adham Nauman in 2020, is addressing an untapped $2 billion market, being the first licensed online insurance broker in the country. Fingo (Kenya).
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. Barnwell tells TechCrunch that although these transaction volumes look impressive, pawaPay would have done more if not for regulatory hurdles and licensing approaches in each market. .
Kenya-based agritech Apollo raises $40 million in Softbank-led round, joined by Chan Zuckerberg Initiative, CDC. We think of ourselves as the Amazon of farmers… a digital and physical infrastructure powering a marketplace that allows the movement of goods and services to and from rural areas,” said Attah.
On the platform, Raise customers can also automate due diligence, set valuations, track employee stock vesting and make routine documentation for licenses and government documents in Nigeria and Kenya. . pre-seed after bagging country’s first SEC license. The company is active in Nigeria and Kenya. companies.
The idea for the YC-backed Ghanaian fintech came during the chief executive’s time at OMG Digital, a media company he founded that also got into YC , in 2016. “We CEO Jesse Ghansah started the company, formerly known as Swipe, with Barima Effah in 2020, and following its rebrand as Float, went live with its product in June 2021.
Other VCs in the round include TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures and Infinite Capital and DAO Jones (investment DAO backed by Mike Shinoda, Steve Aoki and Disclosure), while about 100 other crypto investors participated too. “We
Thus, the need for fintechs and digital businesses in Africa to perform stringent KYC and verification checks on their customers. ” Next, Identitypass approached various agencies and authorities countrywide to get licenses and certifications needed for authorizing checks across a full spectrum of verification points. million. .
The tech startup plans to use its network of pharmacies to build what they describe as a digital primary care service. The doctor will also be in a place to request for rapid diagnostics tests to be carried out, a service that will be supported by a licensed community health nurse as the medic consults remotely.
South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. It also provides APIs to other insurance companies banking on its position as the first licenseddigital insurance broker in Egypt.
.” Last year, Google revised its Play Store developer program policy for financial services apps with additional requirements for loan apps in India, including the requirement to submit a copy of the license for review in case the developer is licensed by the Reserve Bank of India (RBI) for providing personal loans.
Nigeria is a silo, same with Ghana, Kenya and South Africa etc. Our potential client base is much broader than one type of institution; so long as the broker has a digital play, they can use our infrastructure to access African exchanges.”. SecondSTAX is the third circle and acts as a gateway to the fourth circle, the exchanges.
Melbourne, Australia: charity: water … A digital success story. Vancouver, Canada: Enhancing your Story with Digital Tools. Kakamega Town, Kenya: Netsquared Kenya Regional Meeting /Kakamega County. Creative Commons licensed by Neal Gillis. Tuesday, October 1. Philadelphia, PA: Social Web Sampler.
We know that good stories power fundraising and marketing, so join one of our free events to discover powerful case studies and connect with digital storytelling experts in your community. Gulu, Uganda: Adobe Spark Digital Storytelling. Kisii, Kenya: Storymakers 2017 NetSquared Kisii. Bunda, Tanzania: Microsoft Cloud Computing.
Submit your digital video, five photographs, or a super-short story now, because we have $13,000 in prizes available! Or if face-to-face is more your style, join your local NetSquared group — NetSquared groups are holding digital storytelling events all month. Kisumu, Kenya: Social Media Week. Looking for inspiration?
In countries like Nigeria where the government previously banned cryptocurrency transactions through licensed banks and introduced a digital currency to reduce incentives for using unregulated crypto, the crackdown against crypto usage might intensify. Press Release: Clarification on Certain Entities Not Included in Chapter 11 Filings.
Our chapter leaders believe that we can bridge the (nonprofit) digital divide by giving every community organization the tools and skills to accomplish its mission in the most efficient and effective way possible. Busia, Kenya. NetSquared Kenya and Mozilla Caravan (Kisumu City, Kenya). Image Name: Author / License.
Our chapter leaders believe that we can bridge the (nonprofit) digital divide by giving every community organization the tools and skills to accomplish its mission in the most efficient and effective way possible. Busia, Kenya. NetSquared Kenya and Mozilla Caravan (Kisumu City, Kenya). Image Name: Author / License.
2013 was the year of an ever-widening NSA spying scandal with its revelations of how little digital privacy we really have – even heads of state. gear up to administer standardized tests digitally next year. As our digital selves develop in to significant mirror presences, someone else will probably own them. Social Media.
We know that good stories power fundraising and marketing, so join one of our events to discover powerful case studies and connect with digital storytelling experts in your community. Looking for inspiration or hands-on help with your digital storytelling? Kisumu, Kenya: Storymakers 2016 — Kisumu. Thursday, March 31.
Los Angeles, California: Digital Inclusion. Saint Paul, Minnesota: Digital Dumpster Fire: Tips to Handle Social and Online PR Problems ( Communications Networking Lunch). Busia, Kenya: NetSquared Kenya and Mozilla — Building for the Future with App Maker. Bamenda, Cameroon: How to Create Digital Stories.
Melbourne, Australia: How to Deliver in Digital with Limited Resources and High Expectations. Busia, Kenya. Maker Party Western Kenya. Image Name: Author / License. Tuesday, October 28, 2014. Wellington, New Zealand: Don’t Get Dumped Like a Whale! Internet Safety for Community Groups. Tuesday, November 11, 2014.
Bamenda, Cameroon: How to Create Digital Stories. Nairobi, Kenya: NetSquared Kenya Joins Mozilla Maker Party 2016. Nairobi, Kenya: NetSquared Kenya Women and Web Literacy Program 2016 – 17. Nairobi, Kenya: Mobile Solar Computer Classroom Project in Kenya. Wednesday, November 9, 2016.
The charity pricing on it is is free for up to ten licenses with as much as a 75% discount per seat above that. The centerpiece of the philanthropic project is a cloud networking solution that’s free (forever) to 501(c)(3) organizations that need ten licenses or fewer. Larger nonprofits can get additional licenses at half off.
Burlington, Vermont: Free Open Office Hours for Nonprofits — with Sustainable Digital. Busia, Kenya: Netsquared Kenya Joins MLH Hackathon 3 December 2016. Busia, Kenya: NetSquared Kenya Storytelling 2016. Bamenda, Cameroon: How to Create Digital Stories. Wednesday, December 7, 2016. Europe and UK.
Vancouver, British Columbia: Digital Storytelling — Production to Distribution. Austin, Texas: Google Digital Inclusion Fellowship — NTEN, Skillpoint, and Austin Free-Net. New York, New York: Essential Digital Asset Management (DAM): Framework and Management Guide. Busia, Kenya: Net2Kenya Small Charity Week 2015.
So far we've scheduled events in Kenya and Uganda, and will be adding more cities throughout the fall. Raleigh, North Carolina: Digital Inclusion. Busia, Kenya: Office 365 Workshop Train the Trainer NetSquared Mombasa Friday, October 9, 2015. Busia, Kenya: Office 365 Workshop Train the Trainer NetSquared Kisumu.
Our chapter leaders believe that we can bridge the digital divide by giving every NGO the tools and skills to accomplish its mission efficiently and effectively. Orlando, Florida: Ways to Digitally Say Thank You. Nakuru, Kenya: Net2Nakuru: Office 365 workshop. Malaba, Kenya: Net2Malaba: Office 365 Workshop.
Back in my May Nonprofit Technology News edition, I covered the emerging field of digital wallets. mobile payment system in Kenya that allows people there to text each other money. • Data management • Drones. Sending Money By Email. I admit to being a bit envious of the Safaricom M-PESA. The Best Technologies For Social Good.
Washington, DC: Digital Trends — Look Back at 2015 and Ahead at 2016. Busia, Kenya: Net2Kenya Joins Hour of Code 2015. Mukono, Uganda: Digital Activism. IMAGE ATTRIBUTION GUIDELINES Image Name: Author / License. San Francisco, California: SFN2's 2015 Meet, Mingle, and Make Merry Holiday Happy Hour!
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