Mastercard and SomBank partner to launch debit cards in Somalia
Somalia’s government is betting on QR codes, but low internet and smartphone penetration make debit cards a more resonant move. Mastercard is betting on cards with SomBank. Mastercard, a leading global payment services provider, has partnered with SomBank, a Sharia-compliant bank in Somalia, to launch the SomBank Card, a Mastercard-branded debit card. The collaboration aims to enhance financial inclusion in Somalia by providing customers with access to digital payment options. In the initial phase of the partnership, 100,000 SomBank customers will receive the SomBank Card in 2023, with the potential for further expansion in subsequent years. By offering digital payment services, this collaboration seeks to address the growing demand for convenient and secure transactions in Somalia. Customers will be able to make purchases, withdrawals, and online payments using the SomBank Card at Mastercard-accepted merchants and ATMs. The partnership represents a significant step towards improving financial access and empowering more Somalis to participate in the digital economy. “As a global technology company with a deep commitment to financial inclusion, Mastercard is proud to partner with SomBank to bring digital payments to Somalia. This also supports our commitment to work with financial institutions to bring more people into the digital economy,” said Shehryar Ali, Country Manager for East Africa at Mastercard. “By providing access to secure and convenient payment solutions, we believe that this partnership will help drive economic growth and improve the lives of millions of Somalis.” This strategic collaboration aligns with Mastercard’s broader strategy to expand its presence in regions with strong digital growth potential. Somalia, with its increasing (yet low) internet penetration and smartphone usage, offers a promising landscape for digital development. In 2021, Mastercard entered into partnerships with MyBank and Premier Bank in Somalia to further promote the digitalization of financial services. The Mastercard-SomBank partnership marks an important milestone in Somalia’s journey towards financial inclusion. The introduction of the SomBank Card will offer a convenient payment solution for everyday transactions and provide access to essential financial services. As digital payment solutions become more accessible, the collaboration aims to drive economic growth and empower more Somalis to participate fully in the economy. With the launch of the SomBank Card, Mastercard and SomBank are working together to accelerate the adoption of digital payments in Somalia, bringing the benefits of secure and convenient transactions to individuals and businesses alike. This partnership represents a significant stride towards a more inclusive and digitized financial ecosystem in Somalia. “This is a truly remarkable day for us, as we take another step towards making banking more accessible for our customers. We are excited to partner with Mastercard to bring digital payment solutions to our customers,” said Abdullahi Aden, CEO of SomBank. Somalia has been trying to rebuild its digital payments rails since most of its financial institutions crumbled in the aftermath of its 1991 wars. In June 2022, Techcabal reported the national launch of SOMQR, a standard QR code for the country. The move was criticised by several industry watchers, who cited the country’s low internet and smartphone penetration. For these experts, the bet should be on cards—exactly what Mastercard and SomBank are driving with their latest partnership.
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Beyond innovation, Nigerian fintechs must build strong partnerships to truly win
The past decade has seen Nigerian fintechs disrupt the operations of traditional banks by offering digital-driven products and services. But to truly win, fintechs must embrace partnerships. There is a running joke that the phrase “banking the unbanked” should be permanently erased from techspeak. The reason isn’t far-fetched. Over the years, many Nigerian fintech startups have sprung up to disrupt traditional banking known for its unsteady infrastructure. But for all the innovation and technology-driven convenience that digital banks have brought, some have questioned whether these upstarts are solving the problem of financial inclusion. According to this KPMG report, more than one in 3 Nigerian adults are financially excluded. Bar a few fintechs that appear to have hacked the agency banking model, most digital banks are banking the already banked. At the Development Bank of Nigeria (DBN)’s Techpreneur 2023 Summit held on Tuesday, Olu Akanmu, president and co-CEO of OPay Nigeria, stated that there are more Nigerian fintechs focused on providing services for existing bank customers instead of targeting the unbanked population. “There is a greater purpose fintechs have to fulfill to drive more extended financial inclusion, not just to chase the customers of incumbent banks even when they might have been underserved,” he said in his keynote address. Olu Akanmu, president and co-CEO of OPay Nigeria, delivering the keynote address. To fully grasp the performance of Nigeria’s financial inclusion journey, let’s compare it with Kenya. Per the 2021 FinAccess Household Survey, financial inclusion in Kenya stood at 83% in 2019, with banks providing 44%, while non-banks—largely fintechs—contributed 39%. But in Nigeria, financial inclusion stood at 51% in 2020, according to the EFInA Access to Financial Services Survey. Of this figure, the banks led the way with 45%, while only an additional 6% was served by the non-banks mostly fintechs. Partnerships as the way forward Today, fintechs and banks are converging in the business of building platforms and offering financial services. While banks are fortifying their technology to retain customers, fintechs aren’t resting on their oars to make stronger inroads into the market. Industry experts have since made a case for collaboration between both players. Akanmu, whose company helped Nigerians deal with a cash crunch in early 2023, argued that the digital innovations of fintechs when combined with the partnerships could expand market access and reach and scale at no cost. “With deliberate partnerships for a bigger purpose to create more value, the customers and the businesses will benefit,” he said. Speaking during a panel session themed, ‘Promoting Innovation and Sustainable Partnerships’, Kristin Wilson, Strategy Lead at Spurt, reiterated Akanmu’s point on the essence of partnerships. “It is such a critical aspect of what makes it possible for early-stage tech businesses to thrive. It is important for businesses to continuously invest in partnerships that allow them to access customers,” she said. Image Source: TechCabal. But partnerships are a tricky business. As this TechCabal article argues, Nigerian banks want fintech collaborations, but for specific and unique needs. “In essence, the future of fintech-bank relationships rests on meeting at a point of common needs, where original value is exchanged at mutually beneficial costs,” it stated. Akanmu admitted that this is a contentious issue, “especially for startups that sometimes feel that they are getting the short end of the stick”. However, he urged startups to evaluate the opportunity cost of connecting with bigger platforms (read: banks) to expand their reach and market access. Another important issue tied to partnerships is the question of regulation. Nigerian fintechs are encouraged to have proactive management of regulatory and compliance issues. For example, in May, the Central Bank of Nigeria revoked the operating licenses of more than a hundred financial institutions—including fintechs—for non-compliance. But Akanmu noted that tech players should have an open mind to regulations: “Regulators see wider and broader than our individual businesses in terms of the macro effects of our innovations and their unintended consequences.”
Read MoreBolt records 150 million users and appoints new CFO
Bolt has appointed a new CFO. Although it has faced legal challenges in Kenya, the company, which has been in operation for ten years, continues to maintain its position as one of the country’s most widely utilised ride-hailing apps. Ride-hailing platform Bolt has picked Mikko Salovaara as its new chief finance officer (CFO). According to the firm founded a decade ago, Mikko will start his tenure in July 2023. The announcement follows Bolt’s profit gains, having experienced notable growth for the first time since 2018. Its revenue jumped by 400%, climbing from $3.4 million in 2019 to $11 million in 2022. Bolt’s gross profit rose from $1.2 million in 2021 to $2.2 million in 2022. Salovaara, Bolt’s incoming CFO, said, “In an industry where it is notoriously hard to operate profitably, Bolt stands head and shoulders above its competitors. The culture of maximising operational efficiency, which was instilled by Markus ten years ago, continues to guide the business today and has left Bolt well-positioned to reach and maintain long-term profitability. I look forward to being part of this next stage in Bolt’s journey as the business prepares for IPO.” The company, which operates in 45 countries and across 500 cities, has also revealed that its customers have surpassed 150 million. Bolt has over 3.5 million driver partners and couriers. Over one million of the partners serve the African market. Development in Kenya Bolt operates from two critical offices in Kenya. Nairobi serves as the company’s regional hub, housing crucial Bolt executives who oversee the app’s operations throughout Africa. At the same time, Bolt has a local office to address driver partner issues. The establishment of this facility came after years of receiving complaints. Driver-partners, for instance, previously lacked the opportunity to personally present their grievances to the company, relying solely on phone or email communication. Despite facing numerous customer complaints, with some expressing dissatisfaction over the company’s perceived lack of efforts to ensure their safety from aggressive drivers, one of whom was involved in a kidnapping case, Bolt remains the most affordable e-taxi app in Kenya. Apps like Little, Uber, and Rwanda’s Yego are comparatively more expensive. Furthermore, Bolt has achieved a wider geographical coverage, as it was the first mobility app to extend its services beyond major cities like Nairobi and now serves 15 other towns in the country. In mid-2022, the Kenyan government implemented new regulations that lowered the commission rate ride-hailing companies could impose on their drivers, reducing it from 25% to 18%. In response, Little Cab adjusted its pricing strategy by shifting from a 15% commission to a fixed fee of 18%. Both Uber and Bolt also agreed to the new 18% commission rate. However, they introduced an additional booking fee to their fares, which was not present before implementing the new regulations. Consequently, despite adhering to the 18% commission rate, Uber and Bolt are still collecting over 23% of the total fare charged due to the inclusion of this booking fee.
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Twitter’s biggest rival, Threads, is official and live in 100 countries
Twitter, with over 330 million monthly active users, has faced controversy and occasional downtimes since its acquisition by Elon Musk, creating an opportunity for rival apps to emerge. Meta has finally announced Threads, a text-based social media app that aims to rival Twitter. The release was initially teased to go live today and launched yesterday across 100 countries. This timely debut comes in response to people’s generally negative perception of Twitter since billionaire Elon Musk acquired it. Just last weekend, Twitter experienced downtimes that limited the number of tweets users could see. Musk, who holds the position of CTO at Twitter, is a controversial figure and has introduced new features on the platform. Some of these features aim to entice users to subscribe to the Twitter Blue badge for $8 per month. However, does Threads have a chance against Twitter? All you need to know about Threads As said, Threads is a direct competitor to Twitter. Users can sign up using their Instagram credentials and start following the same accounts they follow on Instagram. The app allows users to create posts with a maximum of 500 characters and supports various media formats, including images, gifs, and videos of up to five minutes in length. The interface is like Twitter, featuring options for liking, reposting, and quoting a thread, similar to quoted replies on Twitter. This is aimed at making Threads as familiar as possible. In a blog post announcing the app, Instagram said, “Mark Zuckerberg just announced the initial version of Threads, an app built by the Instagram team for sharing with text. Whether you’re a creator or a casual poster, Threads offers a new, separate space for real-time updates and public conversations. We are working toward making Threads compatible with the open, interoperable social networks that we believe can shape the future of the internet.” Threads shows mixed content in users’ feeds like other social media apps. Alongside posts from followed accounts, random posts are suggested by the app’s algorithm. It is currently impossible to view exclusively the posts from accounts users follow, leaving uncertainty about whether this functionality will be implemented in the future. However, some key social media users, such as video producer MKBHD, hope Threads will listen to user feedback and let people see content from accounts they follow. Will this ever happen? Only time will tell. For the moment, the DM feature is not yet available on Threads. Users can also choose a private Instagram account or a public Threads account during sign-up. However, if users are below 16 or 18 (region-dependent), their Threads account, like their Instagram account, will remain private by default. Users can adjust their privacy settings anytime, allowing them to switch between public and private modes on Threads. They also control who can reply to their posts on the platform. “Like on Instagram, you can add hidden words to filter out replies to your threads that contain specific words. You can unfollow, block, restrict, or report a profile on Threads by tapping the three-dot menu, and any accounts you’ve blocked on Instagram will automatically be blocked on Threads,” adds Instagram in a post. Like Instagram, you can choose to have a private Threads profile Threads is currently available on smartphones both for Android and iOS. It is not clear when a web version of Threads will be released. Meta has also mentioned that Threads is not being monetised, which will likely change in the coming days. For now, Threads does not feature any ad content. Threads ensure username consistency by allowing users to log in using their Instagram credentials, meaning other users cannot obtain a username already in use. Although finding followers from other social media platforms on Threads is impossible, Meta plans to make the app compatible with ActivityPub. This compatibility will allow users to seamlessly transfer their accounts and followers to other platforms supporting ActivityPub. This number is likely to go higher over the next couple of days It remains to be seen whether Threads, which has already garnered 10 million sign-ups, will achieve popularity, but it marks a significant opportunity for Meta to enter the microblogging landscape. However, it is crucial to recognise that Meta has had limited success in creating standalone apps. Apps like IGTV and Boomerang have been discontinued. Nevertheless, Threads is poised to be a strong competitor to Twitter, potentially challenging even Jack Dorsey’s Bluesky, which is currently being tested among a small group of users. This is what Twitter needs, as healthy competition often benefits consumers.
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NSFAS application and status check 2023 to 2024
The National Student Financial Aid Scheme (NSFAS) plays a pivotal role in providing financial assistance to students in South Africa. As education is a critical driver of socioeconomic development, the NSFAS application process aims to ensure that deserving students have access to tertiary education. This article delves into the latest NSFAS application process, highlighting key features and changes introduced to streamline the application experience for students across the country. 1. Background on NSFAS application The NSFAS is a government-funded initiative established in 1999, aiming to enable students from low-income households to pursue higher education. Initially, the application process was manual and paper-based, causing delays and inefficiencies. In recent years, National Student Financial Aid Scheme has made significant strides in digitising and modernising the application process to enhance accessibility and efficiency. 2. NSFAS application online portal The latest NSFAS application process embraces digital technology through an online application portal. Prospective students can access the portal via the official NSFAS website. The user-friendly interface guides applicants through the application steps, making the process more intuitive and accessible. To commence the application, individuals must register an account using their personal details, contact information, and identification documents. 3. Application requirements To be eligible for NSFAS funding, applicants must meet specific criteria. These criteria include being a South African citizen, having a combined annual household income below a certain threshold, and being accepted or enrolled in a public university or TVET college in an approved program. Furthermore, applicants must provide supporting documents such as their identification documents, proof of income, and academic transcripts or acceptance letters. 4. Application cycle and deadlines NSFAS has implemented specific application cycles and deadlines to ensure fairness and efficiency in the selection process. The application cycle typically opens several months before the start of the academic year, giving students ample time to prepare and submit their applications. It is crucial for applicants to adhere to the provided deadlines to avoid missing out on financial aid opportunities. 5. Application evaluation and funding determination Once the application cycle concludes, NSFAS reviews and evaluates each application based on predetermined criteria. The assessment considers factors such as household income, academic performance, and the number of dependents in the household. After a thorough evaluation, NSFAS determines the funding amounts for eligible applicants. Successful candidates are notified of their funding status via email or SMS. 6. Appeals and student support In instances where an application is unsuccessful or a student feels they were unjustly denied funding, NSFAS provides an appeals process. Applicants can submit an appeal, accompanied by supporting documentation, within a specified timeframe. Additionally, NSFAS offers student support services to guide and assist applicants throughout the application process. These services are available via the official NSFAS website, helpline, or through regional offices. Ensure you constantly check your application status when you’re done applying. Final thoughts on NSFAS application The latest NSFAS application process in South Africa has undergone significant improvements to enhance accessibility, efficiency, and transparency. The digitisation of the application process, the establishment of an online portal, and the clear criteria and deadlines have simplified the application experience for students across the country. These efforts contribute to ensuring that deserving students have access to financial aid, paving the way for a brighter future through higher education.
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👨🏿🚀TechCabal Daily – Twitter musk Thread carefully
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Happy pre-Friday Threads launched earlier today, and it’s looking good so far! ICYMI: Instagram launched a Twitter-like app that will allow users to do everything they can do on Twitter but with their Instagram usernames. A snapshot of Threads Already, the platform surpassed 2 million users within its first two hours. The platform’s interface and look are so similar to Twitter’s, Elon Musk will have to thread carefully or he’ll lose the fight for the next big social media space. In today’s edition SA’s department of justice charged for poor cybersecurity measures Safaricom to incorporate two VC subsidiaries Nuru raises $40 million SomBank partners with Mastercard The World Wide Web3 Event: TC Twitter Space Opportunities Cybersecurity Department of Justice fined $266,331 for breaking security rules Justice is in trouble. South Africa’s Information Regulator has fined the Department of Justice R5 million ($266,331) for not renewing its licences for antivirus software. Image source: YungNolly The Protection of Personal Information Act (Popia) sets basic rules for gathering and exchanging personal information. Mail & Guardian reports that when the regulator discovered that the department was breaking some of these rules, it issued an enforcement notice on May 9. It had 30 days to follow the notice, but it didn’t. As a result, the regulator has now imposed a fine on the department, using its power for the first time since it was established two years ago. Why is this a big deal? In September 2021, the department experienced a severe ransomware attack. This attack disrupted court operations and all electronic services provided by the department because employees couldn’t access information systems. Personal information in documents was compromised, and a significant amount of files were lost. Two years prior, the court faced another hacking incident in which hackers stole R10,000 ($532) from the Guardian’s Fund account at the Pietermaritzburg office. Recently, there were reports of hackers stealing R18 million ($958,071) from the fund once again. The Guardian’s Fund was established to receive and manage money on behalf of individuals who are legally incapable or unable to handle their own financial matters. Now, due to inadequate security measures, their money has been lost. Zoom out: South Africa is increasingly becoming a hotbed for financial cybercrimes. Some businesses are paying $5 million dollars or more to ransomware attackers. Per Business Daily, the establishment of the new subsidiaries is subject to shareholders’ approval at the July 28 annual general meeting. You’ll be in good company Moniepoint has made it simple for your business to access payments while providing access to credit and other business tools. Click here to open a business account today. Venture Capital Safaricom to incorporate two VC subsidiaries Safaricom is venturing into venture capital. The Kenya-born telecom giant Safaricom is set to incorporate two venture capital firms into its business, Business Daily reports. The VC firms will focus on funding and incubating seed-stage and growth-stage start-ups. With this, Safaricom hopes to gain a big share of the startups in the country as it currently does in the telecom and mobile money sector. Sidebar: Seed-stage startups are those that are typically yet to begin generating revenue and are in need of capital to turn their money-making ideas into reality. Growth-stage businesses are those that are actively generating revenue even though they may still not be profitable. Funding DRC’s Nuru secures $40 million in Series B funding Nuru’s solar installations in Goma, DRC Nuru, a Democratic Republic of Congo (DRC) solar startup, has raised $40 million to build the biggest mini-grid in Sub-Saharan Africa The Series B equity fund will see to the construction of three mini-grids in Eastern DRC, including Goma and Kindu, with the largest in Bunia. The grids will use solar power and batteries with a total generation capacity of 13.7 megawatts. Investor highlights: The round was led by the International Finance Corporation (IFC), the Global Energy Alliance for People and Planet (GEAPP), the Renewable Energy Performance Platform (REPP), Proparco, E3 Capital, Voltalia, the Schmidt Family Foundation, GAIA Impact Fund, and the Joseph Family Foundation. Future plans: Nuru plans to raise $300 million to hit its target to provide 24-hour electricity to five million people in DRC by September 24, 2024. Its Series B raise of $40 million is still far from the $300 million needed to achieve this goal. However, Bloomberg reports that a $90-million Series C round is expected to get underway later this year. The company also hopes to close off an additional $28 million in project finance by the end of July Zoom out: Less than 20% of the 100 million people in DRC have access to energy, with the majority who lack access in eastern DRC. The upcoming mini-grids in eastern DRC will enable renewable energy adoption, eliminating reliance on fossil fuels for power generation. GrowthCon 1.0: Learn how to unlock 10X Growth Connect with growth leaders, operators, and enablers to explore proven tactics for driving sustained business growth in Africa at GrowthCon 1.0. Experience curated masterclasses, case studies, a growth hackathon and more. Get your tickets now at 15% off. Use the discount code “TIX15”! Fintech Mastercard partners with SomBank to launch debit card Image source: SomBank SomBank is making banking more accessible to its customers. On Tuesday, SomBank announced its partnership with Mastercard, a leading global technology company in the payments industry to bring digital payments to consumers in Somalia. The partnership: Through the introduction of the SomBank card, the Mastercard-branded debit card, Sombank now offers secure Mastercard payments, enabling customers to make safe transactions for purchases, withdrawals, and online payments. The card will be initially provided to 100,000 SomBank customers in 2023, with future program expansion in subsequent years. The Sombank card also offers a seamless payment solution for daily transactions across Somalia, offering access to an extensive network of merchants, ATMs, branches, and agents, all accepting Mastercard payments. Zoom out: Through this partnership, financial inclusion in Somalia will be advanced, allowing
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Despite the benefits of a new tax plan for the informal sector, a historical lack of trust remains
As the Federal Government expands the tax net to the informal sector, market women question the feasibility of the plan- and worry about being multiple taxation Wemifin Oluwaseyi embodies the unflappable spirit of many Lagosians. In her roadside stall in Ogba market–more accurately described as a show glass shielded with a huge umbrella–she sells pastries. The kind that everyone who’s lived in Lagos can instantly recognise; deep fried donuts with no jam and meat pies that have more flour than beef. On the best days, it’s a tough business. As I stop to chat, customers order donuts and sausage rolls in the scorching heat. Wemifin shares that her average daily profit is ₦1000, and it’s common for her to make losses. Whether or not business is good, there are several taxes she has to pay. A ₦100 daily local government tax for selling in the market, ₦200 on Thursdays and Fridays to the Lagos state Agency officials, Kick Against Indiscipline (KAI). “KAI adds to our problems, and we don’t even know what the money is used for,” Wemifin told TechCabal. But pay she must. Traders like Wemifin have to pay these multiple levies or face the brute force of these tax collectors. “We have to give them the token so we can have peace. If we don’t give them, we will not have peace,” Itunu Adebayo, another trader, added. Wemifin and Adebayo are part of Nigeria’s large informal economy. Despite the informal economy’s significant contribution to GDP, workers are subjected to multiple taxation. There are often questions about whether these taxes are remitted to the appropriate channels and many taxpayers feel like the government provides no services in return for collecting these taxes. Nigeria’s Federal Inland Revenue Service (FIRS) is trying to change that. Is Nigeria’s tax policy more strain on informal workers? This week, Nigeria’s Federal Inland Revenue Service (FIRS) announced the Value Added Tax (VAT) Direct Initiative, a way for the federal government to collect Value Added Taxes from the informal sector and reduce multiple taxation. To make this work, the Federal Government will partner with the Market Traders Association of Nigeria (MATAN) to collect and remit VAT from their members— about 40 million— using a unified systems technology. Section 15 of the VAT Act has a threshold of ₦25 million for compliance with VAT obligations. This means that several petty businesses would be excluded from paying the tax. Similarly, the federal government exempted 20 essential food items, sanitary towels, medical services, aircraft spare parts, machinery, plane tickets and tuition fees from the 7.5% VAT to keep the cost of living from rising. This new VAT Direct Initiative is designed to save market traders from double taxation while integrating the informal sector into the tax system. The market women have a trust deficit While the plan to help informal sector workers avoid multiple taxes is excellent, many are interpreting it as an attempt to introduce new taxes. Traders, who spoke to TechCabal, believe the Federal Government’s harmonization of taxes won’t stop other agencies in the market from taxing them daily. With low patronage due to poor purchasing power and inflation, many are pessimistic about the federal government’s moves. Earlier in the year, Adebayo says she had to pay back taxes worth ₦8,300 to the local government so her children could gain admission to secondary school education. According to Adebayo and Wemifin, the local government and KAI —should remit the monies levied on them to government coffers. But what’s most crucial to them is for local governments and their agencies to stop multiple tax collections.
Read MoreKenya’s eCitizen platform integrated into smartphone app with over 5,000 government services
The Kenyan government has launched the Gava Mkononi app, allowing access to over 5,000 services on smartphones. But what are these services? Kenya has launched an app with over 5,000 government services. Referred to as the Gava Mkononi app, the service is an extension of the country’s eCitizen platform and part of President William Ruto’s programme to digitise government services. eCitizen is a digital platform that provides Kenyans access to government services and will be fully integrated into the Gava Mkononi app. Gava Mkononi has also been developed to integrate the Huduma Kenya Service Delivery Programme (HKSDP) functions, a network of service centres that provide access to various public services and eCitizen. According to a statement by the ICT Authority, a state department under the Ministry of ICT and Digital Economy, “Gava Mkononi is a Swahili word that means ‘government in the palm of your hands’, meaning that anyone in the world can access all Kenyan government services by using any device, may it be a mobile phone or a tablet. This is why the e-citizen mobile app was named ‘Gava Mkononi’. Making e-citizen a mobile app was a way to simplify accessibility and allow people to download and install the app or via the web.” Does the Kenyan government provide up to 5,000 services? Kenyans have been eagerly awaiting a breakdown of the over 5,000 government services now available on the app and the eCitizen website. At the start of 2023, there were fewer than 400 services on the portal, with driving licence renewal being the most sought-after service, after business registration and police clearance certificates. The ICT Authority told TechCabal that there are over 5,000 services available through various agencies, which can be accessed via the eCitizen portal or the new app, Gava Mkononi—take, for instance, the Ministry of Foreign Affairs, which offers around 560 services. With over 30 agencies, each with its services, the cumulative count reaches beyond 5,000. The Export Processing Zones Authority offers services such as registration, renewal, and accreditation of training instructions licences. The National Assembly provides services related to public participation, public petition, regular reports, filing petitions, business schedules, bills, internship applications, visit applications, e-newsletters, Hansard reports, study visits, next sitting information, order papers, votes, and proceedings, legislative proposal tracking, bill tracking, motion tracking, statutory instruments tracking, statements tracking, petitions tracking, and questions tracking. The Registrar of Political Parties handles services concerning political party membership status, registration, and resignation. Additional access channels As of March 2023, there were over 29.4 million Kenyans with smartphones, while the number of feature phones stood at 33.4 million. These figures indicate that feature phones are still widely used in Kenya, so Gava Mkononi will also be accessible via USSD using the code *2222#. In addition to the USSD code and smartphone app, Gava Mkononi can be accessed through an extensive mobile money agency network, including Safaricom’s M-Pesa, as well as bank agencies such as KCB with 28,000 shops, Equity Bank with over 40,000 shops, and Cooperative Bank with over 22,000 shops. President Ruto stated, “Gava Mkononi will be available in more than 250,000 M-Pesa shops, 28,000 KCB shops, 40,000 Equity shops, and 22,000 Cooperative Bank shops to serve those without smartphones.” Moreover, citizens can access eCitizen through the web and have the option to visit Huduma Centres, where the HKSDP services are provided physically. Plans for the platform The state plans to digitise identification cards for citizens in the future, a feature that will also be available on the app and the eCitizen portal. According to the ICT Authority, Kenyans will no longer need to carry a physical card when the project is completed. For now, there are no launch dates, but the idea of new digital IDs has been mentioned before by cabinet secretary Eliud Owalo. There are plans to stop physical visits to the Huduma Centres entirely; Kenyans will only have to physically visit the centres for services such as ID card replacements.
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Jumia’s race to profitability takes it to Africa’s rural markets
Jumia urgently needs to become profitable across its 11 African markets. To drive this, the Nigerian arm of the ecommerce giant is looking to rural markets where ecommerce potential is untapped. How will this strategy play out? In a bid to become profitable, pan-African ecommerce platform Jumia has turned its focus to rural markets in Africa. This means convincing rural dwellers that they can buy anything with their mobile phones, and Jumia will bring the product to them. Since 2022, the Nigeria arm of the e-commerce giant has doubled down on rural and semi-rural markets in Africa’s most populated country. “This is in line with the master plan to be profitable,” says Massimiliano Spalazzi, CEO of Jumia Nigeria. Modaleke in Osun, Nkpor in Anambra, Owo in Ondo, Offa in Kwara, and Keffi in Nassarawa are some of the towns that are now being touched by ecommerce with Jumia as a first mover. Jumia is partnering with third parties in these towns to set up fulfilment centres to serve as pick-up stations (PUS) for the customers. In its recently released Rural Area Report, Jumia shows that it has established over 250 PUS across the country, even in the remotest parts where it is striving to plant its ecommerce roots. “To be profitable, you must boost gross merchandise value (GMV). And to do that, you must record more sales or have more customers. Our rural drive is bringing more customers on board. It’s positioning us better towards profitability,” Spalazzi shared, maintaining that the logistics costs associated with its rural markets are marginal. At an average shipping cost of $1.5 per item, Jumia claims it does not record losses in fulfilling orders for rural customers. JForce is the team behind the dream Over the years, Jumia has consistently splurged on marketing and advertising costs as it continues to position itself in the African market. But billboard ads don’t do much to convert middle-class Nigerians who provide the largest market opportunity for B2C ecommerce in the country. Jumia realises this. Now, the company has taken deliberate steps to prune its advertising spend, cutting it down by 40% in Q4 2022, and concentrating its marketing efforts on its 43,000-strong independent sales consultants, JForce. JForce represents the company’s approach to rural area marketing. Through on-the-ground campaigns, activations, and door-to-door canvassing, JForce teams across the country educate and onboard users on Jumia, including those with limited exposure to education or technology. In return, Jumia pays them commissions for every order they facilitate. These commissions range from 1.5% to 8% and are based on the locations from which the orders are completed. “[JForce have] been instrumental in expanding ecommerce to previously underserved areas [in Nigeria],” the Jumia Rural Report reads. Rural seems to be winning Jumia’s concentration on rural marketing through sales agents may mark the early stages of a gradual shift in the B2C ecommerce spectrum from an Amazon-styled structure to something more Copia-esque. Copia Global is one of the most successful B2C ecommerce companies in Africa. Based in Kenya and Uganda, the company recruits small business owners and trains them to be agents and Copia evangelists in their regions, with their local stores serving as pick-up locations for customers. This hyperlocal model reinforces trust in Copia and enables the company to deliver goods profitably despite its free delivery. Jumia has an advantage here: its delivery is not free, and the addition of a $2 fee to most items will make little difference in remote towns, where traditional commerce and logistics spike the pricing of several items. Another advantage for Jumia lies in the marginal costs of its logistics to these stores. On Nigeria’s map, the remote towns that Jumia operate in can be traced within a radius of Lagos. According to Spalazzi, most of the rural markets Jumia currently serves are situated on the road route to bigger, urban cities, such as Benin, Warri, Aba, and Abuja, where Jumia reports consistently increasing order volumes. “It makes sense to us to take advantage of our logistics routes to better serve areas where ecommerce lacks presence,” the CEO said. L-R: Adedamola Giwa, Managing Director JumiaPay Nigeria; Massimilano Spalazzi, CEO JumiaNigeria and Robert Awodu, Head of PR and Communications, Jumia Nigeria at the launch ofJumia’s ‘E-Commerce in Rural Report’ held in Lagos on Tuesday, July 4th. Playing the long game Experts agree that Jumia’s move to deepen its rural market may not immediately fruit the kind of changes that radically upturns its balance sheet towards a positive EBITDA. But it holds a promise to boost Jumia’s average orders and GMV values recorded from Nigeria. Between the last quarter of 2022 and the first quarter of 2023, orders on Jumia dipped by 3 million units, which is reflected in its reduced GMV and quarterly revenue. To prevent these business-altering kinds of dips, Jumia must increase its presence in new markets and gradually plug into more markets where middle-class Africans can purchase items. There are over 50 million Nigerians in this category, according to data from Resource Recycling. And as Jumia remains the dominant B2C ecommerce player in the Nigerian market, there’s hardly any justification for its quarterly active customers to keep oscillating around 3 million customers. Jumia is playing the long game by building a capillary network among rural and semi-rural towns in Nigeria. A good number of the so-called rural towns—including Ilaro, Offa, Nkpor and Keffi—already have tertiary institutions, electricity, and other markers of urbanisation. This means that other things being equal, they could transform into semi-urban or urban cities within the next half-decade. This could translate into an explosion of market size for the ecommerce first movers, which Jumia is striving to be in these towns. Jumia Nigeria is putting to test the words of Francis Dufay, the group’s CEO: “We [Jumia] have great business cases in smaller cities close to rural areas, where we know for a fact that we have a good market.” It will be interesting to see how this good market plays out
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NSFAS status check for funding 2023
Similar to the SRD grant, the National Student Financial Aid Scheme (NSFAS) plays a vital role in providing financial assistance to eligible students in South Africa. To ensure you stay updated with your application and funding status, it is important to know how to check your NSFAS status. In this article, we will guide you through the various methods available to check your NSFAS status. 1. NSFAS for online portal status check The most convenient way to check your NSFAS status is through the official online portal. Follow these steps: a. Visit the NSFAS website (www.nsfas.org.za). b. Click on the “MyNSFAS” tab located on the homepage. c. Login using your username and password. If you don’t have an account, register by providing the necessary details. d. Once logged in, navigate to the “MyNSFAS Account” section to access your application status. e. Here, you can view the progress of your application, funding decision, and disbursement details. 2. Mobile application NSFAS has also developed a mobile application for added convenience. To check your status using the app: a. Download the NSFAS mobile application from your respective app store. b. Install and open the app on your smartphone. c. Login using your MyNSFAS credentials or register if you’re a new user. d. Once logged in, navigate to the relevant sections to check your application status, funding decision, and disbursement details. 3. Contact NSFAS If you prefer personal assistance or encounter any issues with the online methods, you can contact NSFAS directly: a. Call the NSFAS Contact Centre at 0800 067 327. b. Prepare your ID number and application reference number before calling. c. Engage with the customer service representative who will assist you in checking your NSFAS status or addressing any queries you may have. 4. Campus financial aid offices For students studying at tertiary institutions, campus financial aid offices can also provide assistance in checking your NSFAS status. Visit your institution’s financial aid office and provide them with your details. They will be able to access the necessary information and provide you with updates on your application status. Final thoughts on NSFAS status check Keeping track of your NSFAS status is crucial to stay informed about your financial aid application and funding decision. By utilising the official online portal, mobile application, contacting NSFAS directly, or reaching out to your campus financial aid office, you can ensure that you are aware of any updates or changes in your NSFAS status, helping you plan your academic journey with peace of mind.
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