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According to the International Center for Not-for-Profit Law , there are 6,500+ NGOs registered with the NGOs Coordination Board in Kenya. Traditionally, NGOs in Kenya have depended on outside support from grant makers and wealthy individuals. Why is that? 2) How do M-Changa’s crowdfunding services fill that void?
As I noted in my first blog on my African trip, I was delighted with the entrepreneurial culture in Nairobi, Kenya. He wants to provide these students with a part-time job that provides for their school fees, the purchase of a PC and enough money to send some home.
Months before Kenya finally banned iris scans by Sam Altman’s crypto startup Worldcoin, the Office of the Data Protection Commissioner (ODPC) had ordered its parent company, Tools for Humanity, to stop collecting personal data. The crypto startups said it hopes to resume activities in Kenya soon.
Carolee posted on Facebook about the events and asked friends what they’d do with the extra money. I used my $100 check to purchase beautiful ceramic beaded necklaces from Kazuri in Kenya. Kazuri is Swahili for “small and beautiful.&# The Kazuri factory is located in the rolling hills outside of Nairobi, Kenya.
Telecoms and banks lead the majority of online financial transactions carried out in the region via mobile money wallets and bank accounts. An alternative payment network with connected wallets allowing a mobile money user to transact with a bank account would fix this problem, and that’s the premise of Ghana-based fintech Dash.
Koko Networks , a Kenya-based bio-fuel technology enterprise, has extended its business to cover other fast-moving consumer goods through a new tech platform that will capitalize on its established distribution networks in low-income neighborhoods.
Kenya-based agritech Apollo Agriculture , which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products that deliver more value per acre of land. The agritech is scouting for growth opportunities in East and West Africa. “We
Rethinking donor relationships When I started Imani Collective, it was a small nonprofit training program in Mombasa, Kenya. For the first time in a decade, we lost more team members than we gained, lost more money than we earned, and experienced more tears than laughter.
Kenya-based fintech company 4G Capital , which provides unsecured credit to micro enterprises, has raised $18.5 Barrett launched 4G Capital in 2013 after a short stint as a loans manager based in Kenya for a lending corporation, an opportunity that saw him travel across Africa and gain insights on the continent’s lending space. “I
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. .
Council members currently include representatives from El Salvador, Guatemala, Mexico, Canada, Kenya, and across the United States. Time is valued equally as money. We took the movement global, which led to the creation in 2022 of the CCF Global Council , of which I am a member. We foster a sense of belonging, not othering.
Ushahidi, an open source project originally deployed in Kenya to report post-election violence has since been downloaded and deployed for many other events and disasters, including Haiti, Chile, and Japan. Maybe it isn’t even money, but feedback or advice, maybe an introduction or volunteer time. We can’t focus just on money.
Currently operating in Kenya and Nigeria, Umba offers a digital financial service alternative to legacy African banks. Its mobile app gives customers a free checking account, free instant peer-to-peer money transfers, lending, deposits, BillPay and cash back.
In February, London-listed telecom, Airtel Africa , said it was looking to sell a minority stake in its mobile money business in a bid to raise cash and sell off some assets. The investment will see the mobile money business — Airtel Mobile Commerce BV (AMC BV) — valued at $2.65
In 2018, Opera, popularly known for its internet search engine and browser, launched the OPay mobile money platform in Lagos. While none of these services has significantly scaled, OPay’s fintech and mobile money arm (which is its main play) is thriving. last year to over $2 billion in December.
While Delila Kidanu grew up in Nairobi, Kenya, mobile money platform M-Pesa was the go-to fintech platform for her and most Kenyans. The Safaricom-owned product provides basic access to financial services like sending and receiving money and purchasing airtime. The founders are banking that it will be different with Koa.
we get to hear the story of a cell phone banking service that gives the poor effective banking services in Kenya when the country's banks have declined to serve them. And, Kenya is not the only country to discover this opportunity. And, Kenya is not the only country to discover this opportunity. Don't bark at us.
She co-founded Hope Runs , a non-profit organization in Kenya and is is a published author writing on such diverse topics as social media strategy , saving money , and natural living. She holds an MBA and other degrees from Stanford and Oxford Universities and was a Skoll Foundation Scholar. Find her on Twitter – @claired.
In 2010, I had an opportunity to do a Networked Nonprofit workshop in Kenya. Zawadi shared her most recent crowdfunding campaign, probably one of the most successful in Kenya, raising over $71,000 in a couple of days, to help a 24 year old brain cancer patient Emmanuel Otieno (pictured above and known as Jadudi) to get surgery in India.
So given the clout and money these companies hold , most people anticipated they would give SafeBoda a run for its money. There’s a lot of money in the city and income per household is high. Despite this success, SafeBoda struggled in its third market, Kenya — a market it expanded to and left before Nigeria.
As businesses reopened globally and the pandemic drove people to adopt new habits in e-commerce, work, spending money, online delivery, and learning, venture capital into various industries was poised to increase immensely, and Africa would not be exempt. Predictions were made on how much the continent’s startups would raise in December.
Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. allowing people to send money from the European nation to Chipper Cash’s African markets. in terms of sending money.” . With that said, Serunjogi says peer-to-peer money movement from the U.S.
Idorenyin Obong and Femi Aghedo founded Grey in July 2020 as an instant exchange service to help Nigerians exchange foreign currencies in their domiciliary account for local money — the naira. The YC-backed Nigerian fintech has since expanded into East Africa, starting with Kenya.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. According to him, starting pawaPay was to help people send and receive money internationally using mobile money. How big is mobile money in Africa?
NALA , a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. In that time, NALA built a mobile money service in East Africa and scaled it to more than 250,000 users. to Tanzania, Kenya, Uganda, Rwanda and Ghana.
Many Africans don’t have bank accounts and use M-Pesa as a way to store money as well as paying for goods and services- it works like Google Wallet but via SMS instead of NFC. kenya’s winner Sematime makes it easy for people to send bills and invoices to large groups of contacts via SMS. Many female entrepreneurs.
Sending money from the U.S. For remittance platforms like Western Union, it will cost a transfer fee and take between one to five business days for money sent from a U.S. It allows users to deposit cash on the app, send money to a bank account or another user and withdraw money to a connected bank or debit card. .
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.
The public transport sector in Kenya is largely traditional and a majority of operators, especially those in road travel, still require their clients to physically book tickets at their offices even when making advance travel plans. Others do not have provisions for seat reservation.
Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021. Over the last four months, they also raised the larger sums of money,” says Yomi Kazeem , senior consultant for West Africa at Salient Advisory. As such, their growth has been rapid, Salient says.
Lami Technologies , a startup out of Kenya armed with $1.8 million in seed money, is looking to change that. For this reason, CEO Jihan Abass founded the company in 2018 to democratize insurance products in Kenya. “For us, the main problem we wanted to solve was that 97% of Africans don’t buy insurance.
It is nearly impossible for businesses in some African countries to receive money from PayPal. According to CEO Olugbenga ‘GB’ Agboola , this will happen via a Flutterwave integration with PayPal so merchants can add PayPal as a payment option when receiving money outside the continent.
With a focus on Kenya, Nigeria, South Africa, Mexico and India, selected startups receive £80,000 (~$100,000) in grant capital, six months of support and connections with follow-on investors. However, the selected six startups this year are from Kenya, Nigeria, and South Africa. Here are the startups in the 8th cohort.
The future of Kenya-based Sky.Garden — an Amazon-style marketplace for third-party merchants to sell electronics, home goods and more — is in the balance after the startup failed to close a round of financing, according to a memo the startup sent out to employees.
Kwara has over the last year entered South Africa and Philippines, as the demand for its services grew beyond Kenya. Wandia said that from the onset, it was clear that Kwara would expand beyond Kenya as they quickly discovered that most credit unions, especially those in emerging markets, had not caught the wave of technology.
The Kenyan startup has over the last three years been offering a lifeline to traders in Kenya by enabling them to make mobile money transactions that are devoid of transfer charges through its Leja app. Asilimia team in Nairobi, Kenya. Image Credits: Asilimia.
Within the last 18 months, the four-year-old startup worked on analyzing fraud data from global money networks, verification of mobile money financial statements and blocklist data from various banks and fintechs within the last 18 months. We want to add that depth in more markets, and Appruve gives some of that.”
In a call with TechCrunch, founder and CEO Dare Okoudjou was quick to highlight MFS Africa’s mission on the continent: to make it easy for Africans to send and receive money just as they do with calls. The London-based company connects more than 320 million mobile money wallets across 35+ African countries and 700 corridors.
The startup has today announced entry of RejaReja, the B2B retail marketplace, into Ethiopia, Ghana, Tanzania, Rwanda and Uganda, after successful pilot programs, coming about two months after it grew beyond Kenya by launching in Nigeria. In November we hit 100,000 merchants in Kenya and Nigeria and this number is growing quite rapidly.
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. Fingo (Kenya). Fingo is providing an alternative brand of banking to African millennials, starting from Kenya. Amenli (Egypt). Africa has the lowest insurance penetrations globally.
In 2014, Tala first launched its mobile application to offer credit and collateral-free loans to consumers in Kenya but has since expanded to the Philippines, Mexico and, more recently , India. PayPal-backed money lender Tala raises $110M to enter India. And Tala could change that; and so far, it has (to an extent). .
As startups in Africa continue to grow and raise money at a ridiculous pace, so too will their cap tables expand. Most African startups’ bulk of VC money is from foreign investors, making it imperative for African startups to incorporate abroad, especially in the U.S. The company is active in Nigeria and Kenya.
Stax , a startup that allows Africans to buy airtime, send and request money, and transfer funds between accounts via automated USSD codes, has raised a $2.2 Nigeria and Kenya. Therefore, in the event of a hack, for example, hackers can’t harm users, do anything with the data stolen or move money. million seed extension round.
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