Nomanini presents at Cambridge Africa Business Network
Nomanini CEO participates in Cambridge Africa Business Network conference
16 MAY 2013, CAMBRIDGE, ENGLAND
SummaryNomanini's CEO Vahid Monadjem participated in a high-level panel at this year's Business in Africa conference, speaking on the session "Technology Entrepreneurship: Creativity Under Constraint."
Joined by Adam Green, Senior Reporter at Financial Times, This is Africa and CEO's of leading organisations in the space, the panel focused on technology entrepreneurship in Africa and asked it's speakers to recall creative means and approaches when faced with typically reported African constraints in their ventures. The objective of the panel was to alter perceptions through shared dialogue, expose effective strategic approaches to venturing in the African context as well as showcase, through the stories of the speakers, that work can be done, despite constraint.
The Business in Africa conference is organised by The Cambridge Africa Business Network (CABN) which is a Cambridge alumni and student led initiative to promote networking and dialogue about business in Africa.
The 2013 conference, with delegates representing over 30 countries, took place on 15 June and was hosted by the University of Cambridge's Judge Business School. Under the theme Africa: Converting Opportunity into Success, the conference explored both new opportunities and stories of what Africa has done right through panels on finance, law, investment, entrepreneurship, and logistics.
In 2010, McKinsey estimated that the number of African households earning US$5,000 will have grown by 80 per cent between 2000 and 2014 and that the consumer market currently at US$160 billion, will grow to about US$1.8 trillion by 2020. After over ten years of high growth, Africa is no longer just a land of opportunity, but a region full of success stories. These projections raise new questions for business in Africa and the importance of Africa as an investment destination is now increasingly recognised.
Nomanini, is an innovative technology start-up from Africa. It was selected to participate because of the clear value that this technology provides to people's daily lives by facilitating micro-payments in emerging markets.
As the pioneering fintech platform for the informal retail ecosystem, Nomanini connects merchants and distributors to each other and global service providers, integrating payments, working capital, and data analytics to unlock the latent potential of Africa’s economy.
Nomanini turns any mobile device into a retail point-of-sale solution for informal merchants that is connected to an interoperable merchant wallet. The interoperable merchant wallet allows merchants to offer a broad range of digital banking (including cash-in/cash-out), mobile, utility and entertainment services to their customers boosting competitiveness. In turn, digital service providers rapidly increase the scale and reach of their offerings. By generating real-time insights based on transaction data, distributors using the platform gain a single view of their merchant network, ensuring inventory is where it is needed most to improve sales. Distributors can also begin to accept payments for goods electronically, eliminating the risk and inefficiency of collecting cash. With data analytics, Nomanini helps extend working capital loans to merchants via distributors allowing them to invest in inventory to grow their businesses. The increased volume of goods and services set against reduced operational friction increases the profits for all platform participants.
Nomanini was founded in 2010 and is headquartered in South Africa.
For more information, please visit https://www.nomanini.com