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...
What does financial inclusion look like in Ghana?Nomanini is pleased to announce that we are one of the first three partners of FIBR to launch a project in Ghana. Together with FIBR, we will use data on merchants to generate a credit scoring algorithm that would top up the float whenever the merchants require additional working capital.
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.
Headquartered in Cape Town and founded in 2011, Nomanini has partnered with Standard Bank Group.
For more information, please visit https://www.nomanini.com