Watu Credit’s Post

𝗗𝗲𝗯𝘂𝗻𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝗠𝘆𝘁𝗵: 𝗪𝗵𝘆 𝗦𝗺𝗮𝗿𝘁𝗽𝗵𝗼𝗻𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗜𝗦 𝗜𝗺𝗽𝗮𝗰𝘁 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗶𝗻 𝗔𝗳𝗿𝗶𝗰𝗮 Recently, I've seen claims that smartphone financing in Africa is "just regular consumer lending" and that Africans can "easily access these devices through conventional banks." The data tells a very different story. Let's look at the hard facts: 𝟭. 𝗧𝗵𝗲 𝗔𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗚𝗮𝗽 According to GSMA's 2023 report, while mobile broadband coverage has expanded significantly in Sub-Saharan Africa, around 60% of the population does not use mobile internet despite living in areas with coverage. This isn't about network availability - it's about access to devices. A smartphone can cost upwards of 50% of a person's monthly income in Kenya, remaining out of reach for many. Conventional banks often don't serve this segment, creating a significant market gap. 𝟮. 𝗧𝗵𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗗𝗶𝘃𝗶𝗱𝗲 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 According to the said GSMA's data, while 4G networks now reach around 76% of Africa's population, the technology only accounts for 25% of connections, compared to 60% globally. This isn't about choice—it's about affordability and access to financing. Traditional banking requirements often exclude potential borrowers in informal economies. 𝟯. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗜𝗺𝗽𝗮𝗰𝘁 𝗘𝘃𝗶𝗱𝗲𝗻𝗰𝗲 Research like "Breaking the chains of poverty: examining the influence of smartphone usage on multidimensional poverty in rural settings" shows that smartphone usage significantly reduced poverty. The impact works through three key channels that directly affect economic well-being: - Education (37.80% contribution) - Labor force participation (29.7% contribution) - Health outcomes (20.40% contribution)  This isn't just about consumer goods—it's about economic enablement. 𝟰. 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗚𝗮𝘁𝗲𝘄𝗮𝘆 For many Africans, smartphones are their first and only gateway to: - Digital banking services - Mobile money platforms - Online education resources - E-commerce opportunities - Healthcare information M-PESA and other mobile money services see increased transaction volumes with smartphone access. 𝟱. 𝗧𝗵𝗲 𝗚𝗲𝗻𝗱𝗲𝗿 𝗚𝗮𝗽 𝗜𝗺𝗽𝗮𝗰𝘁 Women in Africa are disproportionately affected by a lack of smartphone access, limiting their economic participation. Specialized financing models are helping bridge this gender-technology gap where traditional banks have failed. The "just consumer lending" argument misses the transformative role of smartphones in African development. When a device enables access to education, healthcare, financial services, and economic opportunities - that's not just consumer financing, that's impact investing. Thoughts? Let's discuss in the comments. #FinancialInclusion #Africa #ImpactInvesting #DigitalTransformation #EconomicDevelopment

🛺🏍️🚘📞 Smartphone financing, along with strategic asset financing for vehicles like TukTuks and Bodabodas, plays a transformative role in the lives of underprivileged and unbanked communities. This impact is often underestimated when viewed solely through traditional financial or business analysis. In my view, smartphone financing goes beyond being a mere business model—it’s a life-changing initiative that empowers individuals and drives social transformation. #Finance #Financialinclusion #changingLives

𝙼𝚘𝚗, 𝟸𝟽/𝟶𝟻/𝟸𝟶𝟸𝟺 𝟽:𝟺𝟽𝙿𝙼 Today, I started a new customer project. I will be making a college website with a student and staff portal. A website is still an important part of business branding. Make sure to have one. This project will be delivered in the next 39 days. +++ When poverty is stubborn, table banking is a lifeline to try. It's very possible to surmount obstacles when applying strength of many. I believe in working with people. Some think I shouldn't be very optimistic about life. I tell them we have nothing to lose if we try. What's really important is to keep trying and believing we can do it. At Celken, our mission is to put out tools for resilient entrepreneurship African people are known for. We use the computer to provide support for people to work better. +++ Have you heard about us? Celken is a SaaS management tool and private business server for Android targeting Chamas, emerging SACCOs, small deposit-taking microfinance and individual informal lenders in Kenya. celken.com #journaling #celken #banking #app #money #borrowing #lending #growth #inclusion #togetherness #work #africa #empowerment #chama #shylock #sacco #deposit #withdraw #loan #community #change #business #software #communication #server #private

Thinking about joining the lending game in Kenya? Believe it or not, there are approximately 7.4 million MSMEs in Kenya struggling to access credit, desperately waiting for you to decide to set up shop as a lender in Kenya. Getting started as a lender in Kenya means stepping into a market with a $1.1 billion credit gap. So, where do you start? We've broken it down step-by-step in the carousel. Swipe to see what it really takes to set up shop.

Today, I want to share a story about MoneyPhone. Although our interaction was brief while discussing developer recruitment, their business idea inspires me. The company aims to expand financial opportunities for the unbanked and poorly banked people. It uses cutting-edge technology to provide quick and easy access to the most affordable loans, no matter where you are. Take, for example, small-scale farmers in Rwanda. Agriculture is the main source of income for rural families there, and thanks to MoneyPhone, these farmers can now get microloans online at low interest rates to support their businesses. Another great example is beekeepers in Burundi. Using MoneyPhone’s digital solutions, they’ve secured loans that have helped them produce more and higher-quality honey, boosting their income and improving their communities' living standards. Moreover, MoneyPhone collaborates with MFIs to help people in various challenging situations. They provide small loans to Syrian refugees in Jordan to start businesses, assist Rwandan potato farmers in increasing their yield, and support Zimbabwean children attending primary school.

Why are SACCOs popular in Kenya? ☑ Affordable loans: SACCOs typically offer lower interest rates on loans compared to traditional banks, making them an attractive option for members seeking affordable credit.  ☑ Easy access to credit: SACCO members can quickly access loans based on their savings and contributions, often without the stringent requirements found in some banks. ☑ Community focus: SACCOs are often formed around common bonds such as employment, religion, or community, which creates a strong sense of belonging and mutual support among members. ☑ Financial inclusion: SACCOs help promote financial inclusion by providing services to those who might not have access to traditional banking, especially in rural areas.

Since 2008, MicroLoan Foundation Zambia has been transforming lives by providing small business loans, savings services, and entrepreneurial training to underserved rural communities. We are currently supporting over 45,000 female entrepreneurs across Zambia, via our 16 branches and 12 satellite areas. With 77% of Zambians living below the $2.50 a day poverty line, our mission is to scale up and reach more communities. In 2017, we introduced a pilot programme in our Chipata and Petauke branches, offering mobile money services. This technology has been rolled out to all branches, with 100% of loan disbursements and 60-70% of repayments now processed electronically. By reducing cash transactions, operations are more efficient and clients have access to a safer, more convenient way to manage their loans and businesses. MicroLoan Zambia is at the forefront of digital financial services and innovation, with new digital systems and savings products under development to reach more households. To find out more about our operations in Zambia, visit: https://zurl.co/7uYt #EmpowerWomen #FinancialInclusion #PovertyReduction #Zambia #SustainableAgriculture #MobileMoney #Microfinance #WomenInBusiness

In today’s fast paced world, we know that your time is valuable. Standing in long lines to pay school fees is no longer necessary, there are better ways to handle it. With Equity Bank Uganda’s digital payment solutions, paying your child's school fees has never been easier. Through services like 𝐄𝐪𝐮𝐢𝐭𝐲 𝐌𝐨𝐛𝐢𝐥𝐞 𝐀𝐩𝐩, 𝐄𝐪𝐮𝐢𝐭𝐲 𝐃𝐮𝐮𝐤𝐚, 𝐄𝐪𝐮𝐢𝐭𝐲 𝐎𝐧𝐥𝐢𝐧𝐞, and 𝐔𝐒𝐒𝐃 (*𝟐𝟒𝟕#), you can settle fees quickly and conveniently from anywhere 24/7. No more waiting in line just fast, secure payments that give you time to focus on more important things. Whether you are on the go or managing a busy schedule, these options ensure that your child’s education is supported without the hassle of standing in a queue. Make the smart choice and embrace SchPay via SurePay for a seamless experience. It's the modern way to ensure your children’s school fees is paid on time, while you get back to handling the rest of your day with ease. For more information, reach out to Equity Bank Uganda at 0312 327 000 OR email at 𝙞𝒏𝙛𝒐@𝒆𝙦𝒖𝙞𝒕𝙮𝒃𝙖𝒏𝙠.𝙘𝒐.𝒖𝙜 Equity Bank Uganda is here to make banking easier and life smoother for you. #SurePay || #EquityBankUganda

Thinking about joining the lending game in Kenya? Believe it or not, there are approximately 7.4 million MSMEs in Kenya struggling to access credit, desperately waiting for you to decide to set up shop as a lender in Kenya. Getting started as a lender in Kenya means stepping into a market with a $1.1 billion credit gap. So, where do you start? Lendsqr has broken it down step-by-step in the carousel. Swipe to see what it really takes to set up shop.

Since 2008, MicroLoan Foundation Zambia has been transforming lives by providing small business loans, savings services, and entrepreneurial training to underserved rural communities. We are currently supporting over 45,000 female entrepreneurs across Zambia, via our 16 branches and 12 satellite areas. With 77% of Zambians living below the $2.50 a day poverty line, our mission is to scale up and reach more communities. In 2017, we introduced a pilot program in our Chipata and Petauke branches, offering mobile money services. This technology has been rolled out to all branches, with 100% of loan disbursements and 60-70% of repayments now processed electronically. By reducing cash transactions, operations are more efficient and clients have access to a safer, more convenient way to manage their loans and businesses. MicroLoan Zambia is at the forefront of digital financial services and innovation, with new digital systems and savings products under development to reach more households. To find out more about our operations in Zambia, visit: https://zurl.co/kAst #EmpowerWomen #FinancialInclusion #PovertyReduction #Zambia #SustainableAgriculture #MobileMoney #Microfinance #WomenInBusiness