HiPipo Money

By Our writer

Transport operators lose a lot of revenue as untrustworthy conductors charge money that is not recorded anywhere in the operator’s books, thus revenue leakages.

In a bid to close the gap and improve transport operators’ revenue collection, however, Innocent Orikiiriza founded the KaCyber, a transport and logistics technology company that builds digital ticketing and payment systems for transport operators of buses, trains, and ferries.

Orikiiriza says that he was motivated to innovate the online ticketing solution after seeing that Uganda’s transport operators lacked reliable and cost-effective ticketing systems and were losing money due to manual ticketing mechanisms.

“Based on KaCyber’s transport sector survey and data analysis, bus operators lose 30 to 40 per cent of their revenue when using manual booking systems,” Orikiiriza says.

Currently being used by the Uganda Railway Corporation (URC) on the Kampala commuter train and local buses companies including Star Link and Highway Coaches, the solution has blocked revenue leakages and also enables passengers to book a travel ticket online, and only go to the bus or train station on their travel day.

“Our digital platform serves both the transporters and passengers; on the operator side, we provide point of sale machines that allows instant ticket issuance and payment collection, as well as real-time sales reconciliation,” he explains.

He adds: “On the passenger side, we provide a mobile application for Android users and a ticket booking marketplace, where the public is able to book and pay for travel tickets of buses, trains and ferries.”

According to Orikiiriza, the company implements LevelOneProject Principles as it does not compromise when it comes to security implementation in its product ecosystem.

He notes that their products are developed with bank-grade security controls.

“We are lucky to have established strong partnerships with companies that comply with global payment standards at all levels. Our systems are connected to payment processors, banks, and mobile networks,” he says, adding that they are also in discussion with payment schemes and integrators that offer real-time payment settlements.

Cheap exposure

KaCyber is among the firms participating in the ongoing second edition of the 40-Days 40-FinTechs programme, held by HiPipo under its Include EveryOne programme, in partnership with Crosslake Tech, ModusBox and Mojaloop.

Orikiiriza commended HiPipo for the programme, saying it will empower more startups to get cheap exposure to a wide network of potential partners at a local and international scale.

He, however, says that while FinTech industry continues to grow on a global scale, startups in Uganda continue to struggle to bring their solution to market due to low tech adoption and limited resources to break through these barriers.

He notes that collaborations with the banks and telecommunications companies are highly needed now more than ever to create favorable platforms and allow Uganda’s FinTech industry to grow exponentially.

The HiPipo Chief Executive Officer Innocent Kawooya alludes that the second edition of the 40-Days 40 FinTechs will showcase the best of the multitude of solutions and products one can think of in the digital space.

“We expect showcases of innovations and brands operating in this space and also use this chance to learn, at no cost, from probably the most knowledgeable pool of global FinTech experts that are all scheduled to present this year.

Kawooya adds that FinTech in Africa offers attractive opportunities and that investors are rightfully picking interest in the various startups that are offering a plethora of services, ranging from payments and lending, remittances, cross-border transfers and neobanks, among others.

KaCyber can be accessed at www.kacyber.com and on social media

By Our Writer

People bored of buying food stuffs, fruits and meat that have stayed long on market stalls may have a reason to smile now that they can enjoy fresh products directly from the garden to their kitchen, thanks to Enimiro Online.

Enimiro Online was established to aid last-mile financial inclusion through connecting farmers directly to consumers.

The firm’s General Manager Sarah Gimogoi says they target customers that are interested in purchasing and consuming foods freshly got from the garden, such as fresh foods, vegetables, fruits, poultry, livestock, fish and honey, among others.

“We are the one stop centre for buying a whole goat, poultry, fish and organic honey among others and we plan to add coffee and herbal products,” Gimogoi explains.

She adds: “We have been working on this Enimiro product for the last one year and we now believe that we have got enough market information, contacts and goodwill to deliver 100 per cent organic foods to our customers.”

According to Gimogoi, they joined the e-commerce space to offer a unique product that leverages technology to improve the livelihood of consumers and farmers.

“Uganda is an agro-based country; unfortunately, most farmers are struggling to get a ready market for their produce yet they also struggle to grow these products.

“But it is more annoying that after them going through a hard season, they harvest and fail to get a market! We want to change this,” she says.

Previously, the firm has been running a garden-market and final consumer model.

The Enimiro platform uses Level One Best Practices such as Real Time Payment and Same Day Settlement.

“We have signed strict contracts with suppliers. The same way, we want customers to pay us immediately, is the same way we must pay farmers promptly,” Gimogoi notes.

Its order payments are managed by Flutterwave; another FinTech with operations across Africa.

Enimiro Online is among the firms participating in the ongoing second edition of the 40-Days 40-FinTechs programme, organized by HiPipo in partnership with with Crosslake Technologies, ModusBox and Mojaloop Foundation, and sponsored by the Gates Foundation.

The initiative seeks to enable FinTechs to innovate solutions that facilitate cross-network financial transactions at minimal risks to enhance access to financial services.

Gimogoi applauded HiPipo for the programme, saying it has provided them a platform to learn more about how this industry works.

“Enimiro as a brand is new but its founding partners are not novices. We have been in the industry for some time and are ready to use technology to contribute to last-mile financial inclusion,” she notes.

The HiPipo Chief Executive Officer Innocent Kawooya alludes that there is need for FinTechs to be prepared with appropriate products and have appropriate real time payment systems in place to support an inclusive, interoperable digital marketplace that is both thriving and safe.

He adds that he believes that, just like last year, FinTechs will take up the challenge and use the current opportunity to ride the wave of appreciation for cashless payments brought by the COVID-19 pandemic.

Enimiro Online can be accessed on www.enimirolife.com  

By Our writer

Despite contributing immensely to Uganda’s Gross Domestic Product and employing the largest number of Ugandans, Micro, Small and Medium Enterprises (MSMEs) face a multitude of challenges, including limited access to credit.

Commercial banks do not want to extend credit to these entities as they are considered risky, have no collateral and most of them have unregistered businesses.

Identifying this gap in the market, ChapChap Africa, a low cost mobile payment application (App), sought to bridge it by bringing MSMEs into a digital age and enable financial inclusion for them and their customers.

Emmanuel Emodek, the Team Lead at ChapChap Africa says that with the App, MSMEs are able to tap into extending financial services such as mobile money to do deposits, withdraw as well as bill payment services in just five minutes.

“If you want to access mobile money right now as a service, 90% of businesses would fail to access it because they do not have formal documents like a bank account that has been operational for six months. They would also fail to tick the box of being a registered business. They would also fail to raise a minimum of $400 to be able to access the lines,” he says.

Emodek explains that in partnership with telecommunications companies, ChapChap has been able to aggregate and lower these requirements close to zero so as to increase the uptake of these solutions.

“Today if you want to run a mobile money business or a bill payment solution in this country through the ChapChap platform, it will take you five minutes to be on-boarded.

“All they need is an application, $5 (UGX20,000) and a simple Know-Your-Customer (KYC). They do not have to have a bank account and they are able to start running business immediately,” Emodek says.

In a span of three years, Emodek says about 17,000 businesses have been on-boarded.

The ChapChap mobile payment platform was launched in 2017 in Uganda, initially allowing customers to pay for digital goods and services and do online shopping while earning cashback on their transactions.

Further, Agatha Kyozira, a member of the Customer Support Team at ChapChap Africa notes that by introducing the digital economy to MSMEs’ day-to-day activities, ChapChap Africa has created credible financial profiles for these businesses, which has indirectly opened for them multiple credit opportunities.

“These businesses today have been able to tap into these financial institutions to be able to access credit. We want inclusion for everyone; if we level the playing ground, we will eliminate so many things that hinder businesses from participating,” Kyozira said, adding;

“This is in line with our goal of ensuring that these enterprises are seen, have access to manufacturers, financial institutions, governments and a fair advantage to compete thereby improving the livelihood of women and youth by providing employment for sustainable development.”

40-Days 40-FinTechs

ChapChap Africa is among the firms participating in the on-going second edition of the 40-Days 40-FinTechs programme, organized by HiPipo in partnership with Crosslake Technologies, ModusBox and Mojaloop Foundation, and sponsored by the Gates Foundation.

Emodek commended HiPipo for the initiative, saying that it has created for them the much needed visibility.

“Developing a product is the easiest bit but marketing it is the hardest and most expensive. A lot of Tech organisations have less spend on marketing because they cannot afford the mainstream media.

“We mainly serve the low income people market; if you charge them high, they shy away from the product. So the charge has to be low. But if you went to a media organisation to place an advert, what they ask for would kick you out of business,” he says.

He adds: “But 40-Days 40-FinTechs is that moment in life where you are in darkness then someone shows up with a candle and says I am going to amplify you.”

The HiPipo Chief Executive Officer Innocent Kawooya alludes that FinTech is the launchpad on which the promise of full global financial inclusion will be fulfilled.

“The 40-Days 40 FinTechs LevelOneProject shall show we have the innovators to take on the challenges,” he says.

He, however, notes that FinTechs need to be prepared with appropriate products and have appropriate real time payment systems in place to support an inclusive, interoperable digital marketplace that is both thriving and safe.