Fintech innovators reveal four core challenges40 African fintechs participated and shared insights into the challenges currently facing them at the inaugural Unconference - an event that gave participants the space to drive the agenda and bring to the fore the realities, challenges, and discussions most significant to them.
Nomanini shortlisted for the MIT Inclusive Innovation ChallengeNomanini has been selected as a Finalist in the MIT Inclusive Innovation Challenge. Nomanini is one of four finalists (from among 300 organisations) in the Financial Inclusion category and has received a $35,000 award in recognition of our transformative approach to driving economic opportunity in the digital age. The funds will be used to support our mission of increasing financial inclusion via local informal retail merchants, who serve as a daily touch point for over 80% of people in Afr...
Consolidation of the fintech ecosystem in AfricaMobile money’ used to be a catch-all phrase, describing everything from consumer wallets to building agent networks, lending, and international remittances. However, African fintech has gradually matured into an industry with specialist roles, and more players in the market every year. This shift has seen more companies take on niche roles. This makes strong partnerships between various parts of the ecosystem crucial for the space’s long-term development.
Nomanini hosts the African Fintech UnconferenceLast month, Nomanini, in partnership with the Bankable Frontiers Associates’ FIBR project, hosted the first annual African Fintech Unconference. Innovators, thought leaders, industry regulators, banks, telcos, and other established players in the emerging fintech sector, gathered in Accra for two days to discuss how fintech players can engage in smarter partnerships in a fast-moving industry that is ripe for consolidation.
Nomanini and FIBR join forces to host the African Fintech UnconferenceNomanini, together with FIBR, an initiative of the Mastercard Foundation, are hosting the first annual African Fintech Unconference in Accra on March 23rd and 24th, 2017. The African Fintech Unconference brings together fintech innovators, banks, telcos, thought leaders and other established financial players in the dynamic fintech sector, to create awareness among the African fintech ecosystem and enable collaboration for smarter partnerships that drive the next wave of fintech innovatio...
Nomanini integrates with MFS Africa to increase mobile money footprintSouth Africa-based enterprise payments platform provider, Nomanini, has announced it is integrating with MFS Africa to enable informal merchants to send and receive international remittances. The integration with MFS Africa allows Nomanini merchants to facilitate international remittances, increasing their financial service offering in their communities.
Nomanini rolls out loans system for merchants in GhanaSouth Africa-based enterprise payments platform provider Nomanini has launched a loans system for merchants on its platform, aimed at offering credit to informal retailers previously excluded from financial services. The company’s solutions for merchant transactions and service management platform enable enterprises to efficiently distribute digital goods, while also creating additional income for entrepreneurs in informal markets. Having collected a large dataset on informal merchants acros...
What Makes ‘Inclusive Fintech’ Truly Inclusive?Starting back in the 1980s with the launch of Grameen Bank in Bangladesh, the concept of inclusive growth has been instrumental in fighting poverty and providing opportunities for marginalised communities to uplift themselves. When it comes to the provision of fintech services, however, which combine advances in digital and mobile technology with financial applications, inclusivity is not a prominent feature. Arguably, the underbanked and unbanked population have the most to gain from the fin...
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