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Now and then, people have emergencies and thus seek credit services. Ideally, loans should be affordable with reasonable payment terms. But in the real market environment, most loans are very expensive; the interests are exorbitant, and the terms unrealistic. Money Lenders, mainly loan sharks exploit borrowers who usually don’t have any alternative. To address these […]
Japheth and Benaiah, both seasoned freelancers, had firsthand experience with the challenges of managing payments and records. Even though they would execute their work professionally and diligently, their payments and record-keeping were a mess. ‘Frustrated by the limitations of existing payment solutions, they set out on a mission to create something truly remarkable.’ They created […]
Piggy Banks are lately used to cultivate a saving culture among children. The same, when well managed can motivate even adults to save and later enjoy the benefits of their savings. Technology has made this even easier with new smart ways of saving and investing. In Tanzania, the Kiasi APP was launched to enable targeted […]
On Day 36 of the 40 Days 40 FinTechs initiative for Tanzania, we interacted with Helen Lukundo Chonjo, the Founder and Team Lead at Macho Technologies Limited. Macho Technologies Limited is through its flagship solution, Thamani, using technology to digitize the valuation, insurance and resale of motor vehicles. First implemented in Uganda, 40 Days 40 […]
On Day 35 of the 40 Days 40 FinTechs initiative for Tanzania, we caught up with Nice Msangi; the director of partnerships at IDC Tanzania and overseer of Founders Academy. Both IDC and Founders Academy are at the centre of start-ups and innovators’ empowerment in Tanzania. Importantly, Nice Msangi is the 40 Days 40 FinTechs […]
Savings and credit services are spread across the world. Away from the formal banking systems, most people across Africa come together under small village, community and work associations and start banking groups. They then save on a daily, bi-weekly, weekly, after a fortnight or monthly. They meet periodically, usually every week to review the progress […]
With a population of close to 1.5 billion people, Africa is a continent of endless opportunities. However, due to poor infrastructure, high illiteracy rates and low technology adoption among others, most of these opportunities remain untapped. For instance, the majority of Africans are financially excluded because of the absence of equitable financial products and services. […]
Even though Africa has very many young and talented innovators, most of their start-ups suffer from failure to break even, are bogged down by poor business governance issues and eventually succumb to early exits from the market. Among the major factors that contribute to these early exits is a lack of proper business mentorship, which […]
Tax compliance is key to economic transformation globally as the revenues collected are then used to finance service delivery and infrastructure development. But sometimes, individuals and organizations alike fail to comply due to a cocktail of issues such as the absence of proper tools to support collections and ignorance. To cure these ills, the government […]
Kariakoo is Dar es Salaam’s largest and most vibrant market; filled with energy and a rich cultural experience. The market attracts hundreds of sellers and buyers every day who complete multiple transactions. Being an African market, Kariakoo’s preferred mode of transaction has always been cash. But this is fast changing. A few years ago, a […]