Nomanini expands operations into East Africa
Nomanini partners with BambaKenya in Kenyan expansion
25 JULY 2013, CAPE TOWN, NAIROBI, KENYA
SummaryThis month, Nomanini becomes an international enterprise services provider, securing a partnership with Bambakenya. Bambakenya is Nomanini's first international application, and as such, the partnership represents the beginning of an exciting new phase for this innovative technology company.
Prepaid in Africa
The most widely traded virtual commodity in Africa is prepaid mobile service. By 2015 there will be 1 billion mobile subscribers in Africa each spending an average of over $85 per year.
At present, prepaid distribution is achieved via trade in physical scratch cards because they are easy to use and relatively quick to distribute. However, their production is costly and they effectively exclude informal entrepreneurs from the process of sales and distribution. Nomanini works to transform the trade in scratch cards by making the process more efficient and cost effective, putting the informal entrepreneur at the heart of the process, enabling wider access to prepaid services for the unbanked masses.
Nomanini: a recap
Since being founded in 2011 Nomanini has developed and refined a prepaid vending platform which combines hardware, software and firmware to offer a unique solution to the problems inherent in trading prepaid via scratch cards. Nomanini's hardware enables traders in the informal economy to sell prepaid mobile services in their communities by utilising a portable point of sale terminal which is easy to use on the go, and which has been specifically designed for this African context.
Sitting behind the front end hardware however, the complexity of the solution resides in Nomanini's development of supporting software and firmware components. Nomanini builds its backend services using Google's Cloud based data services. In this way, Nomanini provides interfaces accessible via web portal to manage voucher procurement, distribution and credit management, providing all the tools necessary for local enterprises to manage their prepaid business.
In addition to using this technology to empower grassroots entrepreneurs in informal business, Nomanini enables local enterprises like Bambakenya to customise and operate its technology for their regions.
Like many African countries at the forefront of the mobile revolution, Kenya's mobile market is ripe for development. According to the latest statistics published by the Communications Commission of Kenya in April 2013, Kenya has 30.7 million subscribers and has a 78% mobile penetration.
Bambakenya is an innovator in the distribution of airtime in Kenya: Bambakenya's mission is to lead distribution of prepaid for the unbanked and underbanked in Kenya.
Nomanini and Bambakenya began discussions in January 2013 to provide Bambakenya with customized terminals and access to its software solutions. Bambakenya procured 20 terminals this month to be deployed as a pilot and plan to submit findings after 1.5 months of trading.
Bambakenya has been distributing airtime for nearly two years and is confident that partnering with Nomanini will provide access to the vital technology necessary to accelerate Bambakenya's impact.
In short, the union of grass roots expertise and high end technology, customized and operated by Nomanini, will facilitate the distribution of mobile services in an efficient and scalable way.
The scratchcard market in Africa is enormous and the latent demand to improve on it is clear. Nomanini has already capitalised on this by developing terminals that can be customized to meet the operational demands of local enterprises across the continent.
The partnership between Nomanini and Bambakenya marks the beginning of Nomanini's international expansion, providing its 'device as a service' solution to local enterprises which stand to benefit hugely from this technology. Discussions with providers in Zambia, Nigeria and Tanzania suggest that from Kenya, African expansion will only accelerate.
"Nomanini is excited to enter this partnership with Bambakenya. They have been innovators in this field for some time, serving the unbanked and underbanked in Kenya. We hope through this partnership to support Bambakenya in achieving its goals, which are closely aligned with ours. " Vahid Monadjem, CEO Nomanini
"We at Bambakenya are really excited that the Lula has finally landed in Kenya. The device has been very well received. We managed to deploy 6 devices on the first day of the launch which have all recorded impressive sales by the second day of trading. The go live had very few technical issues bearing testimony to the hard work by the team at Nomanini. " Stanley Ngaira and Ednah Chepkoech, CEOs Bambakenya
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