Cashless Banking in Africa: How we’re creating payment solutions with technology and innovation
African economies are well positioned to benefit from rapidly accelerating technological change if they can harness the current open landscape for innovation. East Africa is already a global leader in mobile payments, while mobile money accounts in sub-Saharan Africa are on an upward charge. Apart from being able to leapfrog the limitations and costs of physical infrastructure, the continent stands to benefit from having the youngest, tech-savvy workforce in the world in the next decade. Africa’s working age population is expected to grow by 450 million people by 2035. According to the World Bank and the continent is projected to have the largest working population of 1.1 billion by 2034, notes the World Economic Forum on Africa. Recent GSMA data shows that mobile money accounts in sub-Saharan Africa are up 18.4% between 2016-17 to 33.8m registered accounts. [bctt tweet=”Banking in a cashless society will require African solutions for African problems – @nnamdi_oranye” username=”SheLeadsAfrica”] However, we cannot wait 12-15 years before adequate job creating initiatives and policies are unlocked. The answer lies in harnessing the power of the digital economy today to create African solutions for African problems. An important part of this will require promoting and partnering with African innovators to unlock sustainable growth. We are already witnessing the significant potential of digital innovation in the remittance and mobile wallet space. Penetration of smartphones is expected to hit at least the 50% mark in 2020 from only 2% in 2010, according to the World Economic Forum, offering the continent a clean canvas for tech-based innovation. It is an opportunity we must not miss. These are exciting times and are forcing us to think differently to come up with true Pan African innovation and development. MFS Africa is a good example of how carefully harnessed and supported technological innovation can have ripple effects through the continent. It now operates the largest digital payments network in Africa and connects over 170m mobile wallets through 100+ partners, including Airtel, Ecobank, MTN, Orange and Vodafone across 55 markets. It has about 15% of the African population connected to a platform. M-Pesa, launched in Kenya in 2007, is an often-touted example of African technology making waves even outside its own borders. After capturing the local market for cash transfers it has spread to three continents and 10 countries. MicroEnsure, meanwhile continues on the path of developing pioneering insurance solutions for low-income people like micro-health, crop, and mobile insurance. These are solutions directly aimed at emerging customers and it is little surprise the company continues new customers by cleverly partnering with telcos. Access.mobile is another major success story, testing and growing its health innovation offerings for seven years in East Africa. The company works with health systems to hone their communications with patients in lower-income but also in growing areas and it hopped the pond in the opposite direction from most smaller startups and landed one of its first American clients. [bctt tweet=”Standard Bank, as Africa’s largest bank by assets, hopes to support even more start-up and tech initiatives across the continent” username=”SheLeadsAfrica”] Adventist Health White Memorial Hospital, a Los Angeles facility that works largely with lower-income Hispanics, was looking for ways to use health data to achieve better outcomes within its population. These are examples of the role models that will inspire our next generation of innovators. We need more and tech-savvy banks to need to continue supporting them as they grasp future opportunities. Just consider that Findex data shows that sub-Saharan Africa is home to all eight economies where 20 percent or more of adults use only a mobile money account: Burkina Faso, Côte d’Ivoire, Gabon, Kenya, Senegal, Tanzania, Uganda, and Zimbabwe. Opportunities, therefore, abound to increase account ownership up to 95 million unbanked adults in the region receive cash payments for agricultural products, and roughly 65 million save using semiformal methods. Standard Bank, as Africa’s largest bank by assets, hopes to support even more start-up and tech initiatives across the continent to ensure these opportunities are not lost. [bctt tweet=”We are setting a new standard in digital payments with the launch of Africa’s first prepaid virtual cards ecosystem, among many other digital innovations – @nnamdi_oranye” username=”SheLeadsAfrica”] We are therefore innovating ourselves at a rapid pace to harness the benefits of the digital age to drive financial services inclusion. Mobile payment solutions like Snapscan is now available at over 25,000 merchants and a vast user network across South Africa. We are setting a new standard in digital payments with the launch of Africa’s first prepaid virtual cards ecosystem, among many other digital innovations. The future will be about solving genuine customer problems rather than putting a band aid on them. One area in urgent need of change, for instance, is remittances, where Africa is still one of the costliest places in the world to remit payments – fees as high as 10% to 20% are still endured. We need to harness technology to genuinely solve this problem. Sometimes when we talk about banking in cashless society we look too far out – but we don’t have the luxury of time. Knowing your customer (KYC) is about understanding what they need today based on their culture and context and then unlocking the already available data to provide the solution. Technology, for instance, can solve the unbanked problem on the continent. However, this does not mean you can “plug and play” by taking something that works in one country and expecting it to work in another. Success will increasingly be centered on having a Pan African view of the problem, but local implementation. The future is certainly bright for Africa as exponential innovation continues to drive change across the continent we call home, disrupts industries and replace legacy technology. It is now time to grasp this opportunity with both hands before the innovation wave passes us by. Article By Nnamdi Oranye, Fintech Author and International Remittances Lead at Standard Bank Group. October 2018 Sponsored Post.
Overpowering Gender Discrimination in Male Dominated Fields
Gender discrimination has been a major issue in Africa, and the world at large. Although, it’s reduced in the past years since we live in the 21st century and in the most real modernity. Unfortunately, it’s still an issue women battle. This happens in most industries, and especially in male-dominated fields like construction industries, politics, entertainment and so on. Most times, I wonder why or where the male superiority emerged from and I still don’t get it. Why?. Because I’ve heard of women’s success stories that men can’t even dream of attaining by going through the phases women do. As we live in an evolving world and in a modern time, gender equality should be essential in every society and economy. Although the past discrimination women faced has been changing, there are still a variety of challenges that women face, low-key and high key. Women that jump into positions predominantly held by men don’t have it easy. They seek support from colleagues, friends, and families and so on as they face challenges like mistreatment, incompetency, unheard voices, or bad comparison. African women have so little influence over resources which restricts befitting jobs and limits their earnings, hence the dependency status. That makes the voices of women remain limited and unfortunately, African attitudes, vibes, and customs extends many of these inequalities across many generations present and ones to come. [bctt tweet=”As we live in an evolving world and in a modern time, gender equality should be essential in every society and economy” username=”SheLeadsAfrica”] Let’s take a look at the agricultural sector which requires a strong manpower, so technically, we can tag it a male-dominated field. Research shows us that women contribute 60% plus, of labor into food production for household consumption and for sale. Yet they get no credit for their hard work. They are not recognized, visible, complimented, or rewarded for all the energy and passion they put into the work they do. In politics also, it was regarded as a man’s job to make decisions or make a difference. But from the 1990s, women started gaining freedom, the freedom to do whatever. The freedom to have a voice and stand up for what they want. Now, women have gained over 30% of the seats in the government and are making a difference and history. How sweet! In dealing with gender discrimination in male-dominated fields, what options do women have? Do they become a man overnight or take advantage of their natural qualities like nurturing and oozing empathy? I think not because psychologically, women can face a comeback for playing the feminine gender role stereotype, which isn’t cute, one bit. [bctt tweet=”Here are some practical strategies that can be adopted to help women overpower gender discrimination in male-dominated fields:” username=”SheLeadsAfrica”] Appreciate the feminine advantage This may mean relying on appearance to gain acceptance and it works to the advantage of women in male-dominated fields. When one looks smart and nice and works smart and nice, acceptance is just a second away. Embrace some male characteristics This may not accord to some personalities and it may also be a copying tactic, but when one embraces the male characteristics and monitor oneself, being self-conscious, opportunities present itself Mentorship Having a female mentor, in or outside the industry is a wonderful way to build knowledge and skills. One gets to align personalities and their reputation can help reinforce one’s reputation. Dwelling in the positive and ignoring the negative To succeed in spite of adversity says a lot about a person’s character and determination. This is in regard to focus. By dedicating oneself to the job at hand and getting accustomed to the role by focusing on the engaging and challenging nature of the job, one tends to overlook whatever politics is being played and in turn, recognition and success will be birthed. This would make a huge difference to women’s work satisfaction and effectiveness. Changing workplace culture It is very much possible to succeed in industries not typically associated with women such as mining or construction. Attitude adjustments can make a woman brave enough to fight the status quo. Also, one can influence the hiring policies or implement recruitment platforms that support fellow women in the industry. By this, workplace culture has evolved and shifted. With this, African women and women, in general, will be able to overpower gender discrimination in male-dominated fields. They can create a place for themselves and generation to come, and make history. Let’s make our voices heard and make a huge difference! Interested in contributing for She Leads Africa? Click here.
Fatou Wurie: Using innovation as a tool to deal with Psycho-social development
Fatou Wurie is the founder of (SDP). She is also an AWDF 2015 African Women Writers Workshop for Social Change participant, an Imperial NEXTe Award Recipient for ‘Young Professional of the year 2015’ and Illumessence Women’s National Award Honoree 2016. Her work has been featured on the Huffington Post, Forbes, MamaYe Campaign, UNICEF Innovations Blog, Amnesty International Digital Blog, The Journalist, and others. She is a passion-driven social activist, public speaker, and storyteller. Fatou is committed to project design that employs creativity and advocacy for policy impact which is influenced by her background in strategic communications for development. [bctt tweet=”During the Ebola crisis, I started an NGO that focused on looking at centralizing psycho-social health – @thefatoublog ” username=”SheLeadsAfrica”] Tell us more about yourself I’m from Sierra Leone. I have been working on different projects in general health, women’s health, and women activism. During the Ebola crisis, I started an NGO that focused on looking at centralizing psycho-social health, women’s health, mental health as an intricate part of public health. We keep talking about service delivery and about fixing social institutions such as health care, but we don’t look at the fact that the country is in a constant state of crisis, and trauma. We need to create safe spaces where people can access mental health services to be able to ensure that we can increase the efficacy of service delivery. So, I did. I look at innovation and use it as a tool to deal with issues in health, education, and in gender issues through artistic means. So, I look at how we use tools to power our lives, especially African women’s lives and I try to broaden how we conceptualize and think about innovation. I guess I am not a business women in the traditional sense of the term. What inspired you to start the Survivor Dream project? SDB was born out of complete frustration. I worked in the development space for about five years, mainly in the sector of regional health and reproductive health. At that time, I was working as the gender and communication advisor for UNMEER. It was a very difficult time in Sierra Leone and I was frustrated with the development space. During the Ebola crisis and we were so overwhelmed that we were only focusing on breaking the transmission of the disease and getting more people to survive. We really didn’t focus as much on what happened to them after they had survived. We would give them fifty dollars, a mattress, and a certificate saying: “you are a survivor”, meaning that people would now be able to interact with them. I was interested in what happened after people had survived. We started the survivor dream project because we saw two gaps. First, we saw that, due to their role as caregiver, women were disproportionately affected by the crisis and disproportionately unsupported when they survived the disease, so we wanted to focus women and young. The second gap we identified was that apart from the people at the front line of the response, there wasn’t an actual national space for psycho-social support. People were surviving but they had no way to process what had happened to them. They had no means of dealing with internal trauma, PTSD, and anxiety. That’s how the project was born. I do not come from that background, I just saw a need and I was frustrated. I talked about it with a friend and two weeks later we had found a space. At the time, survivor conferences were held where they would provide food, give great speeches, do some artwork, and they would call it a day, which I thought was ridiculous. So, we just took twenty women we saw that was continuously going to the survivor conferences, and through a friend of mine, we gathered them and started working with them. What we initially offered that was revolutionary was space for women, who had lost everything, to come to cry to think, and to deal with trauma. A space that has the tools to manage their PTSD, their anxiety, and their depression. A space where we could bring in professionals to facilitate workshops and to link them with the resources available at the time. We tried to figure out the women and understand their issues. Their wants, their needs, and their demands are dictating what we offer while remaining as ethical as possible. These are people minds, spirits, and hearts we are dealing with. We are not dealing with building hospitals. We are dealing with people’s core so we must be careful about how we went about creating and maintaining that space. This period must have been very hard emotionally and physically. How did you survive it? I always feel that during these types of conversations I have to take a step back and check myself. Many people were playing their part and we were all so depressed. Unless you were in Sierra Leone, you wouldn’t understand. The entire country was in a state of shock. It was such a dark part of our reality, of our history. We had just come out of a cholera outbreak and a war. There were so many series of shocks that had daunted our community. And then the Ebola crisis came. People at first were not believing it, until their aunts, their cousins, and doctors started dying. And we were wondering how we could this. How do you tell someone who lives in a small room with ten other people not to touch them? How do you tell a woman whose mother is sick not to touch her? That is her mother, that is her husband, that is her daughter. You have to understand that this is a poverty-driven disease and it is poor people that are dying. For me, it was a duty. I wasn’t there during the war, I am very privileged, so I live in a very different kind of Sierra Leone. There is no way I cannot give back
‘Go the extra mile, because it’s usually empty’: Why you should Do it Now Now
[bctt tweet=”How @DoitBayo is bridging the gap between who people are now and who they want to be” username=”SheLeadsAfrica”] Do it Now Now is a crowdfunding platform that has the social development of Africa at its core. Founded by Bayo Adelaja, a research assistant at the London School of Economics, Do it Now Now helps supports social entrepreneurs in their quest to make a positive impact across Africa. Bayo also hosts frequent StartUps for Africa events on Google Campus, in the heart of London’s Silicon Roundabout. We caught up with Bayo to find out a bit more about the Do it Now Now journey and the importance of social entrepreneurship right now. Where did the passion for entrepreneurship come from? I love working at the LSE, the work is great and so are my colleagues but I’ve always had that entrepreneurial spirit within me. The only way I could do that was by stepping out of my comfort zone and saying this is who I am, who I want to be and I’m not going to let anyone talk me out of it. I had been talked out of it in the past when a company that was trying to buy another start-up I had tried to steal my idea. At that point I wasn’t good at saying I needed help or a support network to guide me on the journey. I realised that most people don’t have that support. They also lack the skills, knowledge and connections. I thought to myself, wouldn’t it be great if I could help people to bridge the gap between who they are and who they want to be? What is Do It Now Now? Do it Now Now is a crowdfunding platform with an incubator attached to it. We help people raise up to £10,000 ($12,000) from their friends, family and other interested parties. Do it Now Now helps businesses organise their campaigns, their perks and rewards, the marketing, the budget, everything. We work with the startup from A to Z, giving them all the support they need over the course of a year to help them build a healthy, scalable and sustainable business. [bctt tweet=”We help people raise up to £10,000 from their friends, family and other interested parties” username=”SheLeadsAfrica”] My job at the LSE has helped a lot as. I saw that there was a gap between the amount of work that aid organisations can do and the amount of development needed on the continent. Social entrepreneurs and start-ups can be more flexible, quicker on the ground with more local knowledge of the community that they’re in. That’s a huge advantage, and an opportunity for them to link up with other organisations in Africa who might be able to support them in one way or another. We also partner with incubators on the continent such as the Kumasi Hive, working with tech entrepreneurs in Ghana. How does the fundraising process work? You raise money with us and we help you grow. Then, we expect you to donate 20% of your gross income or £500 ($600), whichever amount it higher, to the charity that you chose at the beginning of your campaign. Do it Now Now collects commission that enables us to run the programme. We also have Startups for Africa, the free version of the programme which brings together people who are interested in growing their businesses, fostering collaborations and getting a conversation started. We want to show people that it is possible to be a purposeful, conscious person and have a business that is not just about the money, but about people and causes; it’s a heart thing. Money is great but being part of a community that cares about people and supports you is so much better. How can social entrepreneurs be successful on the continent? Do it Now Now is based on this principle: start now, plan now, do it now and do it well. Get on your feet and keep moving. So many of us have a good ideas that will change Africa but we spent too much time planning and researching. We’ve been relying on potential for years, if not decades. I want people to see that it’s not difficult at all to be a purposeful business. Social entrepreneurship is a fantastic way to support Africa’s development and still support yourself financially. I’m not here to simply line my pockets and die rich, I’m here to help people and improve life on the continent. [bctt tweet=”I want people to see that it’s not difficult at all to be a purposeful business” username=”SheLeadsAfrica”] If we have businesses that are strong, healthy and doing positive things it becomes good PR for Africa. Be passionate about your business, your people and the rest of the world will see it too. We need to recognise who we are, where we come from and build what’s needed —no one is going to do that for us. Africa is not a token, it’s not something you do on the side, you need to treat it with the respect that it deserves. How do you balance a full time job and running Do it Now Now? Well, I work about 80 hours a week: I wake up at 5am to build my business then go to work at 10am. Then I sleep and do it all over again, because I’m super passionate. Someone once told me ‘go the extra mile, because it’s usually empty’. If we just pivot the purpose of business we can make a truly sustainable and long-lasting impact. [bctt tweet=”‘Go the extra mile, because it’s usually empty’ – how to make your mark” username=”SheLeadsAfrica”] How can a budding social entrepreneur get started? Pick a problem and pick it wisely. It has to be something you’re passionate about, otherwise you’ll quit. You’ll quit quickly and you’ll leave people in the lurch. Pick something small and specific, then you can then blow it up and make it big. Always work with other people and look out for collaboration opportunities.
Lessons we can learn from Lynette Ntuli’s success
Many women in Africa and the world are making great strides in their respective industries. It’s also common that when you have someone you look up to, it’s usually someone in the field that you are in. Whether you’re in tech, construction, or engineering. We tend to overlook other women in other industries because we have that perception that our role models should be within an industry we’re familiar with. This doesn’t have to be the case. As a woman in the tech industry, my admiration for Lynette’s work ethic and passion was welcomed. I was introduced to Lynette Ntuli when I was previously at an incubator and accelerator and looking into which successful women we would approach to be a speaker at a conference. I’ve followed her journey since then. Lynette is in property, asset management and infrastructure development. She is the CEO of Innate Investment Solutions based in Durban, South Africa. She also has a passion for youth development and leadership and is also the Founding Director and Chairman of IgniteSA.com. She’s definitely a force to be reckoned with! Here are a few lessons we can learn from Lynette’s success and how she keeps making a difference: Be consistent For the past 11 years, Lynette has been a powerhouse in the making. One thing about her is that she does not stop achieving her dreams. From being the first black woman at the age of 24, to become the General Manager of one of Durban’s regional shopping centers to being the Co-Founder and CEO of a property, asset management and infrastructure solutions company. Tip: Lynette keeps consistent by focusing on not losing momentum. She believes that in anything you do, you will probably fall. Try and do things over again until you get it right. What is important is to keep your head high through all the trials. Help others grow In your pursuit of greatness and achieving your professional, personal and entrepreneurial goals, it is important to pay it forward. Some people make paying it forward their daily bread, and their passion. For others, you gain years of experience and want to share what you know. Sharing this knowledge will lead to making an impact in someone else’s life, whether the impact is big or small. At the age of 25, Lynette and 3 of her friends wanted to continue empowering others. This is where IgniteSA.com, a youth-oriented digital media and programme platform, grew. They had already grown their skills, and networks and wanted to share them with young South Africans from all sorts of backgrounds. From there onwards, they built an ecosystem in education, skills development and entrepreneurship. This initiative was to help change the future of South African youth. Work hard One may not work tirelessly, chase their goals and dreams, be successful and not have worked hard for it. Great work ethic and hard-work is what will get you where you want to be. This is evident in Lynette’s success and how she continuously pushes herself. Tip: When what you do on a day-to-day basis is your passion, it definitely is a bonus. It makes the hard work seem effortless so keep pushing #MotherlandMoguls! Stay true to yourself It’s important to also stay true to yourself when looking into grow into your career or business. This is one lesson that all women should keep in mind when on the road to success. Yes, we can look up to many people in our industries and in other industries. But staying true to who you are, and what YOU want to achieve will be key in continuing in your journey to success.
Carpe Diem: Engaging Africans in the Diaspora for development
Every year, the Motherland loses some of its most brilliant minds to other parts of the globe. They leave for a number of reasons that include political instability, repression, conflict, and poverty, and do so in the hope of getting better education and job opportunities. They become a part of the diaspora, non-resident Africans who still feel a strong connection to their origins. According to the World Bank, there are 39 million Africans in North America, 113 million in Latin America, 13.6 million in the Caribbean, and 3.5 million in Europe. They are well-educated professionals and together they send over 40 billion US dollars in remittances to the Africa every year. Per The power of the diaspora lies in their duality. They identify with both cultures and act as a bridge to communicating the true African experience. Utilizing this duality can help in a number of areas. Fighting the negative imagery A number of Diasporans are young, talented and optimistic about the future. They’re also eager to return to help Africa progress. Having achieved success in their respective fields, they defy the perception of despairing poverty, corruption, and repression that often overshadow Africa’s success stories. The politics Our global representatives can also make changes in foreign policy. When it comes to negotiating interventions and support, diasporans can provide an authentic African voice to political discourse by communicating the needs, potential and realities of Africans. Sharing skills They can also apply their knowledge and talent to close the skills gap, which would help attract foreign investment. After all, the Motherland doesn’t lack intelligence. What Africa lacks are opportunities to apply and develop its talent. So how do we put this into practice? Almaz Negash, a respected business executive and non-profit leader, has a feasible solution. Negash was born and raised in Eritrea, and went on to study in the US. She now works to connect Africans on the continent with those in the Diaspora. Negash suggests using the African Diaspora Network (ADN), an online platform, to convert the $40 billion remittances into investments. This is easier said than done. The ADN solution requires reliable infrastructure and policies that are conducive to conducting functional businesses. These include enforcement of property rights and political stability. There are concerns over whether or not African governments have the capacity to enforce such policies or even comply with them themselves. The ADN must also figure out the best way to engage with the diaspora. Not all diasporans are Pan-Africans so some may focus more on their own countries than the entire continent. But, if successful, the creation of a diaspora database could work as a platform for the Diaspora to share their entrepreneurial capacity with those at home, and be a forum for Africans to seek investors and donors. This will allow Diasporans and resident Africans to form partnerships and invest in each other. ADN could also function as a space for nonprofits to connect with Africans and share ideas on how to best tackle development problems and create sustainable solutions. Over half a trillion dollars has been spent on aid to Africa since independence, and almost nothing has come of it. The ADN could be the missing link. Proof of Concept A similar model has worked in India. As a country that is dependent on remittances, the Indian government has made a conscious effort to engage with the Indian diaspora. Through liberalizing their trade policies, India has been able to attract its diaspora’s investment. They have also established the Ministry of Overseas Indian Affairs that connects to the diaspora through youth teaching, cultural education, and annual awards to revered Indians living abroad. So…what are we waiting for? Sadly, African governments aren’t doing the best they can to connect with Africans abroad. At least 32 African countries have set up specialized units or ministries to engage with diaspora, but these units tend to be under financed and understaffed. As a result, African governments are not engaged with their diasporans. But Ethiopia is making moves The country established an Ethiopian Diaspora Directorate in 2002. It now has a web portal with information for the diaspora about potential investment and trade opportunities, on-going development projects, and the Ethiopian diaspora policy. Ethiopians born outside of the country can get “yellow cards” allowing them to travel without a work permit or visa. The Ministry of Health also attracts professional diasporan doctors to work in their health sector. Ethiopia now has its first emergency response residency program. SLA also knows what’s up We too have recognized the need to harness diasporan potential. In November 2014, SLA co-produced and co-hosted Diaspora Demo Day, a social impact pitch competition. Diaspora Demo Day is the largest convention of African startups, entrepreneurs, and angel investors outside of the continent. SLA took seven African startups to the showcase where growing tech companies and social enterprises focused on Africa and the diaspora were presented. Demo Day took place in Washington DC and was attended by policymakers, impact investors, journalists, development professionals, and leaders of African enterprises. Participants gained media exposure from multiple outlets like Washington Post, BET.com, and AllAfrica.com to name a few. Carpe Diem 6 out of the 10 fastest emerging markets are in sub-Saharan Africa: Chad, the Democratic Republic of Congo, Ivory Coast, Mozambique, Ethiopia, and Sierra Leone. So now is time better to invest in Africa’s future.