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
The Safaricom AppWiz Challenge, a collaboration between Safaricom and Invested Development, is seeking judges and mentors. The Challenge was launched in May is designed to help Safaricom identify and nurture talent within the developer community. The participants will undergo training and mentorship throughout the incubation period as the objective of this challenge is to help youth successfully deploy their mobile applications in the market.
We are looking for experts in agriculture, energy, water, transportation, … read more
We are always researching the latest innovations in mobile technology for potential investments for the BSP Fund. Here are some of the stories that caught our attention in mobile technology and mobile money.
How can financial services work best for the poor? by Anna Scott on The Guardian
In order to develop a service that effectively serves a poor population, it is necessary to consider their needs. The product should be designed around the … 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
We’re committed to supporting innovation and entrepreneurship around the world. Here are this week’s stories on efforts to do so, including some from groups we are proud to call partners.
“Safaricom links app makers with private equity investors” by Okuttah Mark on Business Daily Africa
Our biggest news this week was the launch of the Safaricom Developer Challenge called “AppWizz”. The challenge is designed for early stage mobile technology entrepreneurs working on innovative … 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.
This week, we read about the work that organizations and businesses are doing around the world to enhance, promote, and leverage the benefits of mobile.… read more