Nomanini expands it’s Southern African operations

Nomanini now facilitating cash-based transactions in Mozambican Market

14 APRIL 2014, CAPE TOWN/MAPUTO
Summary
Nomanini today announced the expansion of it’s Southern African operations after securing a partnership with a distributor of mobile prepaid in Mozambique. This expansion into their second international market reflects the company's continued African growth in facilitating cash-based transactions in informal markets and fostering economic inclusion for the unbanked and underbanked majority.

Nomanini today announced the expansion of it’s Southern African operations after securing a partnership with a distributor of mobile prepaid in Mozambique. This expansion reflects the company's continued African growth in facilitating cash-based transactions in informal markets and fostering economic inclusion for the unbanked and underbanked majority.

“Nomanini is pleased with the validation of our platform as a general payment platform applicable in multiple countries. We are looking forward to continuing our expansion across the continent, then across the world and into varied verticals such as electronic mobile money terminals, vending for prepaid electricity and cash collection for micro-loans," said Chief Commercial Officer Kuda Mushambi.

Mobile access has improved and will continue to improve the lives of millions living at the base of the pyramid. While many mobile money solutions have entered the market during recent years, few have been successful on a large scale. This can be attributed to a lack of understanding that cash remains the most frequently used payment method in most countries. In some of the world’s largest emerging markets such as China, India, Brazil and Russia, over 95% of all transactions are cash-based.

Nomanini works at the intersection of cash-based transactions in informal markets and cloud-based platforms for enterprises. Since being founded in 2011, Nomanini has developed and refined tools to facilitate cash-based transactions. These tools solve problems inherent in administering cash-based transactions in informal markets. The solution combines a highly scalable, cloud-based transaction backend developed on Google App Engine with proprietary POS (Point Of Sale) hardware designed for, manufactured and managed in Africa.

Nomanini partners with enterprises that configure and manage the platform to suit their local conditions. Their platform offers customization across several verticals, including vending airtime, electricity or tickets and can also serve as cash-in collection method for mobile money, microloans and insurance premiums.

Nomanini’s solution dramatically improves the distribution of and access to prepaid services by providing a direct conduit from national service providers and prepaid distributors to remote points of sale. This increases voucher availability, gives end-sellers better margin and enables more people in remote areas to access these basic services at a fair price.

In addition Nomanini’s solution can be used to leverage the power of mobile technology to ease some of the barriers to providing financial services to the poor and unbanked, such as collections and cost-effective enrolment. Their platform offers mobile money providers a reliable cash-in terminal to replace their current methods.

By using Nomanini’s solution, local enterprises and grassroots entrepreneurs earn extra income and foster economic inclusion of the unbanked and underbanked masses by providing convenient, reliable and safe access to essential mobile and financial services.

After a small-scale pilot in Mozambique’s capital city of Maputo which started in late 2013, the partners realised that the Nomanini Terminal and Platform was the perfect solution to increase their sales network and volume. Nomanini’s POS terminals were selected because of their mobility, rugged design, long battery life and speed of service, which enables vendors to sell mobile airtime quickly in places previously unreachable such as on the streets and on public transport like share taxis and trains.

"We are thrilled to find partners in Mozambique. Their management team has decades of experience in prepaid distribution collectively. We look forward to learning from their experience. Their selection of Nomanini as their technology provider of choice is a great validation of our technology and approach,” said Nomanini CEO Vahid Monadjem.

At the completion of the pilot, the Mozambican operations will expand to several hundred terminals over the next few months. The long-term vision is to have several thousand terminals providing consumers access to mobile prepaid across Mozambique.

According to the GSMA Mozambique currently has 12.7 million mobile connections, 98% of which are prepaid. The 12.7 million connections represents a 49% market penetration, leaving a huge opportunity for growth within this market as mobile penetration increases.

Nomanini has recently signed deals with partners in Nigeria and Ghana and is in talks with potential partners in Namibia, Guinea, Morocco and Zambia.

Quotes
"We are thrilled to find partners in Mozambique. Their management team has decades of experience in prepaid distribution collectively. We look forward to learning from their experience. Their selection of Nomanini as their technology provider of choice is a great validation of our technology and approach," Vahid Monadjem, Nomanini CEO
"Nomanini is pleased with the validation of our platform as a general payment platform applicable in multiple countries. We are looking forward to continuing our expansion across the continent, then across the world and into varied verticals such as electronic mobile money terminals, vending for prepaid electricity and cash collection for micro-loans" Kuda Mushambi, Nomanini CCO
Images
About Nomanini

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

news