South Africa’s innovative leading education fund administrator has recently introduced a cashless system in the form of a bracelet to digitise payments for primary school pupils. Fundi’s bracelet, FundiPay allows parents to load pocket money into a learner or student’s account that is managed through a smartphone app, with transactions made through the child’s rubber wristband. Speaking at the Education Innovation Summit 2018 at the Hilton Hotel, Sandton, CEO of Fundi, Amasi Mwela says the company saw an opportunity in the high volumes of cash that flow at primary schools and it can also avoid bullying. “Fundi Pay’s payment solution is different in that it eliminates the need for a point-of-sale machine, as transactions are made using the merchant’s smartphone.” “Our innovative te
About 17 million digital loans have been disbursed to Kenyans as an increasing preference to mobile phone to access credit since the launch of the first digital credit offering seven years ago. A new survey completed last month shows fast growth of borrowing through the phone, with other findings showing huge default rates but for relatively small amounts. An international firm, Microsave Consulting, conducted the study which involved interviews with various credit providers with fin-tech products, including banks. During the first half of 2019, MSC was commissioned by SPTF and the Smart Campaign to undertake a comprehensive study on the current state of digital credit in Kenya. This study revealed: Across Kenya, 16.4 million loans have been disbursed digitally since the lau
Safaricom has today announced a new type of data bundle that do not expire which is a feature users have been waiting for so long. This comes after Kenyan telcos Safaricom, Airtel and Telkom Kenya were sued over expiry of data and loss of unused Internet bundles. Most recently, the Ghanaian Ministry of Communication in a letter dated October 9, directed all Telecommunication operators in the country to stop the expiry of voice and data bundles purchased by consumers. “All unused data and voice bundles purchased by subscribers that has not been used must not expire and must be rolled over with the next recharge,” read the letter by Ghanaian Ministry of Communications. You can buy these ‘no expiry’ bundles from mySafaricom app or by dialling the usual *544#. You need to update the mySaf
As a market, digital services in Africa's agriculture sector remains untapped say experts and could be worth over US$2.26-billion. Microsoft, through its 4Afrika Initiative, has announced a new collaboration with the Alliance for a Green Revolution in Africa (AGRA) to co-create technology solutions in agriculture. The collaboration was announced at the African Green Revolution Forum (AGRF) and will support AGRA's digital transformation as it works to improve food security for 30 million farming households across 11 countries by 2021. Microsoft and AGRA will explore uses of big data and artificial intelligence "in enabling data-driven, precision farming that increases farm productivity and profitability." The partnership will also support farmers in adopting new technologies thr...
Kenya has been ranked the second leading innovation hub in sub-Saharan Africa by the World Intellectual Property Organisation in its latest Global Innovation Index (GII) 2019 report. Kenya’s so-called Silicon Savannah only trails upper middle income economy South Africa, with Mauritius coming third. “Kenya has a track record for recording high levels of innovation, outperforming on levels of innovation relative to GDP for the ninth consecutive year, an excellent record at par with other lower-middle-income countries like India, the Republic of Moldova, and Vietnam,” reads the report. Kenya’s innovative strength has been attributed to startups’ easy access to credit and microfinance loans. “As in previous years, Africa shines in terms of innovation relative to level of development. Ou