Remittances and mobile money have played a big role in promoting financial inclusion in emerging markets. Currently it’s a market dominated by big players like Western Union, but more and more often we’re seeing localized startups like Remit in Uganda looking to make financial services even easier and more inclusive.
“Safaricom Deal to Allow Diaspora to Send Money to M-Pesa Accounts” by Chris Udemans on HumanIPO
The growth of mobile technology has had … read more
With mobile technology as one of our key investment themes, mobile money has been exemplary in defining the impact that mobile can have on access to finance for both individuals and organizations. Here’s what we read this week on the latest news in mobile money.
Mobile Money Transforms Kenyan Banking Market from Mobile Payments Today
As one of the best examples of successful mobile money adoption, 64% of Kenyans now actively use their mobile phone … read more
Developing countries received over $400 billion in remittances in 2012 according to a World Bank (see our infographic on remittances here). This is a great example of how mobile money has changed the way people send money by making it easier and safer. This week, we read many stories detailing both progress and challenges in the sector. We are always looking for innovative entrepreneurs that piggyback on the success of mobile money to provide … read more
With the upcoming GSMA Mobile for Development Summit, we focused our weekly reading on mobile money and technology. Mobile money has become a mainstream service for MNOs in emerging markets posing both benefits and risks. We are always looking for innovators and startups that can piggyback on these innovations to promote financial inclusion at the bottom of the pyramid.
Mobile money transforming Africa by Arthur Goldstruck on Mark Lives
Since the first mobile payments … read more
Editor’s Note: This post is written by Sean Smith. Sean spearheaded and will continue to lead Invested Development’s efforts in supporting the Safaricom App Wiz Challenge.
In early 2012, Safaricom CEO Bob Collymore and other senior executives of Kenya’s largest telecom visited the iHub in Nairobi to answer questions from the innovation community. Most of the back and forth between iHub members and Safaricom executives went as expected (at least if you follow such things):… read more
Every week, we read dozens of articles on our favorite industry trends and relate to our investment thesis. We pick the most popular trend from the week and share the top articles along with our thoughts.
In a follow up to our recent post on financial inclusion, this week we turned to our favorite industry blogs and mainstream media to see what they’re saying this week on the topic. We’ve included posts and articles from … read more
How can mobile money be used to incentivize savings? Mobile money, if executed correctly, can extend financial inclusion to include savings capabilities as well as transfer and payments. We’re looking at some examples of that this week.… read more