Presentation on theme: "Company Profile 5 TH INTERNATIONAL CONFERENCE ON OPEN ACCESS 2007 HOW SOCIETIES BENEFIT FROM OPEN ACCESS TO ICT Innovation, Development, Deployment, Mobile."— Presentation transcript:
Company Profile 5 TH INTERNATIONAL CONFERENCE ON OPEN ACCESS 2007 HOW SOCIETIES BENEFIT FROM OPEN ACCESS TO ICT Innovation, Development, Deployment, Mobile Banking The Tanzanian Journey Nadeem Juma (Managing Director)
Our Vision at E-Fulusi Africa (T) Limited is to initiate the creation of African solutions through research and product development in Tanzania, that will serve the greatly under serviced markets in a easy cost effective manner.
-Innovation: -The initial idea…problem… -Development: -Turning the idea into a product….solution… -Deployment -Putting the solution into the market…evaluation… Innovation, Development, Deployment, Mobile Banking The Tanzanian Journey.
Process and Steps - What is the initial idea? - Is there a problem that has been identified? - Defining and classifying innovation Google hypothesized that a search engine that analyzed the relationships between websites would produce better results than existing techniques Collective Minds - People from different discipline not only IT. - Visionaries - People with a knowledge and understanding of their society, community, and people. Innovation as a Process
Creating E-Fulusi Mobile Transaction Switch (EFMTS). The Initial Idea for us: - Getting reach to the masses - Providing an affordable solution - Changing the lives of our people The Problem Identified: - Lack of access to financial services - Increasing demand for financial services (SACCOS, MFIs,) - Growing informal sector Defining Innovation: - Taking an existing model and making it better - Not recreating the wheel, using existing infrastructure - Developing a solution and service (EFMTS / Mobipawa)
Belief and understanding in what you are doing. -Information about the industry you are venturing into -Other Models -Statistics Most of those three billion people dont have a safe place to save money. What ultimately gets people out of poverty, and prevents them from being vulnerable to crises, is when they have a nest egg to fall back on – CGAP Some 3 billion people can be helped out of poverty through M-Banking – WORLD BANK
OPERATOR / YEARTTCLZANTELMICVODACOMCELTELTOTAL 2000173,5914,00756,51150,000-284,109 2001177,8026,50189,059180,000-453,362 2002161,59026,770160,000300,000120,089768,449 2003147,00668,000210,000700,000320,0001,445,006 2004148,36085,000303,0001,050,000504,0002,090,360 2005154,42096,109422,5001,562,435882,6933,118,157 2006157,287355,993760,8742,975,5801,516,8325,766,566 2007(March)187,567414,763801,4563,247,9211,676,3926,328,099 Source: Individual Operators Statistics With the countrys population approximated at over 34 million, It is estimated that 17% of these people use their mobile phones everyday.
- 2 Million Bank Accounts (1million banked customers) -The total number of money transfers being done daily in Tanzania is currently estimated at 10,000. EMS (Expedited Mail Service) BUS Companies Western Union Money Gram Postal money Order Commercial Banks Source: Passing the Buck
Process and Steps - Cultivating talent and human resources - Sourcing, funding, and finances - Commitment of the above - Technical resources - Regulation and regulators In an environment that does not foster innovation the challenges to find HR and Funding are equally difficult. Development as a Process
Cultivating Talent and Human Resources - Education (manpower is available locally) - Culture (few are ready to involve themselves) - Challenge (Easy paying employment is available somewhere else, why crack my head?) - Capable HR want immediate recognition (lack of collective thinking and mind) Ownership must be taken by all HR in order for a collective result to be achieved.
Sourcing Funding and Financing -Financial institutions do not invest in innovation - Lending periods are short and do not foster innovation - Financiers often have ulterior motives The first funding for Google as a company was secured in the form of a USD100,000 contribution from Andy Bechtolsheim, co-founder of Sun Microsystems, given to a corporation which did not yet exist source- http://en.wikipedia.org/wiki/Googlehttp://en.wikipedia.org/wiki/Google
Technical Resource Existing ICT Environment - Partners / Providers (Lack of understanding of own industry) - Developers thus have to know about every area To develop a solution (your layer), you have to go through all the base layers (eg. If I am to make use of a server, I need to know all about the servers, which is suitable for my use. Dealers are not in a position to advice) - Accountability Price of Hardware and Software is very HIGH - How do I determine my Pricing while cost is impossible!?!
Regulations and Regulators Bank of Tanzania (BOT) - Setting out policy framework - Role of Developers - Conform to Standards - Due Diligence (E.g. KYC) Tanzania Communication Regulatory Authority - Technology Neutrality Policy - Open to new innovations - Protection - Regulation is open
Working with Partners Strategic partnerships allow for ongoing innovation and specialization of industries, thus increasing development and innovation. Our Partners - Banks/ Financial Institutions - Telecommunication Operators - Internet Service Providers - Commercial Networks - MFIs / SACCOS
An Open Access System E-Fulusi Mobile Transactions Switch MOBIPAWA Mobile accounts Money transfer Online payments Bill Payments Agents Financial InstitutionsMobile OperatorsISPs
M-Banking in Tanzania Mobipawa is a payment service powered by E-Fulusi through (EFMTS), where mobile phone users across Tanzania are able to hold transactional accounts (independent to airtime account) and transact through their mobile phones. MobiPawa is the first comprehensive solution which directly addresses the gap between the banked and unbanked communities. MobiPawa will immediately provide the capacity to offer accounts to over 6 million mobile subscribers.
MobiPawa is Network and Bank Independent. To open a MobiPawa account you do not need to have a conventional bank account. To use MobiPawa you do not need to purchase a new or network specific sim card. Network Independent (currently available on all major operators) Multiple Access Modes: (SMS, Online, Java App) Works with any handset Innovation at Play
MobiPawa permits immediate money transfers from every corner in Tanzania. The MobiPawa account operates like any bank account, allowing the user to save, spend, receive and send money. Users are able to see their transactional statements on their phones, or on-line at through our portal ( www.mobipawa.co.tz )www.mobipawa.co.tz
To get a MobiPawa account is absolutely free of charge! All one needs to do, is visit the nearest MobiPawa agent known as a pawaSTATION, and represented by the sign below: Branchless Banking (Existing Infrastructure)
At the pawaSTATION, MobiPawa account holders are able to: Top up their Accounts Withdraw Cash Cash their Money Transfers Receive Customer Care
The agent network will allow for easy country wide coverage. Agent can be petrol stations, SACCOS, MFIs banks, etc) Once a MobiPawa account has been registered, transactions can be conducted immediately, easily and efficiently. MobiPawa account holders can transact with other MobiPawa account holders and can send transfers to non-account holders.
Over and above money transfer services, the MobiPawa account is dynamic. MobiPawa will, after the initial launch period, introduce products that will allow account holders to; - Make Bill Payments - Make Merchant Payments -Loan Distribution and Collection (SACCOS. MFIs) -Salary Payments -Bank Linkages (Banked Customers)