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IT Manager – True African Limited

The purpose of this position is to ensure the smooth running of the department, and to communicate any relevant information relating to this, to all staff. To ensure the ongoing availability and development of the IT systems and infrastructure so that colleagues can use systems and processes to provide a high-quality service to our clients. meet agreed upon deadlines for all projects.

KEY TASKS

Managing and Leading Team

  • Work as the Team Lead
  • Manage IT staff by recruiting, training and coaching employees, communicating job expectations and evaluation and appraising their performance. Develop and use KPI’s for all your staff
  • Lead in software architecture and design
  • Lead the software development team, software quality analysis including actual software development
  • Lead the systems security by ensuring that systems and applications are kept secure (Ensure security of data, network access and backup systems)
  • Lead project manager for IT projects o Lead in product development
  • Communicate business needs to the IT team and the reverse

Processes

  • Plan, organize, control and evaluate IT and electronic data operations
  • Design, develop, implement and coordinate systems, policies and procedures
  • Identify problematic areas and implement strategic solutions in time
  • Audit systems and assess their outcomes
  • Ensuring that the company’s technological needs are met both in the short and long term
  • Research on new technologies and software that may be needed in the company
  • Ensuring systems uptime – Work with the systems admin

Budget

  • Manage IT budget
  • Handle annual budget and ensure cost effectiveness
  • Ensuring deadlines are met within timeline and within proposed budget
  • Customer and Engagement and support
  • Evaluate client needs and recommend software solutions
  • Act in alignment with user needs and system functionality to contribute to organizational policy
  • Identify Customer needs

Vendor Management

  • Select the right vendors – ensuring MOU’s are being followed
  • Manage suppliers on a daily basis
  • Develop relationships through effective communication, honesty and integrity

Microsoft Word – Head of IT Job Description

Skills and Experience

Microsoft Word – Head of IT Job Description

  • Proven working experience as an IT manager or relevant experience
  • Knowledge and understanding of the Software Development Cycle
  • Excellent knowledge of technical management, information analysis and of computer hardware/software systems
  • Expertise in data centre management and data governance
  • Hands-on experience with computer networks, network administration and network installation
  • Ability to manage personnel
  • Previous experience of the management of finance and budgeting in relation to IT purchases, projects and plans
  • Advanced knowledge of PHP, Perl and Golang
  • Advanced knowledge of Databases – MySQL
  • Understanding of SMS/SMPP, USSD, Versioning (Cisco) and Linus networking, Advanced Linux OS knowledge
  • BS in Computer Science, MIS or similar field

Working Environment

  • Position is office based (locally) some level of travel within Uganda and Kenya will be required
  • Normal working hours are 8.30am – 5.30pm
  • Fun working environment
  • Teamwork
  • Regular Team Building

Remuneration Package

  • Competitive Salary
  • 21 days annual holiday
  • Medical Insurance

If anyone is interested or knows anyone who would be interested please apply by sending an email with a copy of your CV to hr@trueafrican.com

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JUMO Country Manager East Africa (Kenya & Uganda)

As Country Manager // East Africa you will be accountable for the success of jumo. JUMO across East Africa. You will be responsible for operationalising and growing the business in line with the JUMO Growth and New Markets (GNM) strategy by deploying the JUMO technology stack to connect entrepreneurs and consumers to inclusive financial services.   You will report to the General Manager // In-Market Operations.

In this role, you’ll

In coordination with other teams, operationalise the country strategy for JUMO East Africa, aligned to and integrated with the overall JUMO mission and JUMO GNM strategy.

Drive engagements with existing and potential partners. Leveraging your existing networks, identifying key influencers and initiating engagements to build and maintain strong partnerships that are mutually beneficial. Counterparties include:

  • Capital providers such as Tier 1 FSPs, MFIs, Government and Development funds.
  • MNOs, wallet providers, affiliates and other consumer network partners.
  • Government, Central Bank and other regulatory and industry bodies.

Contribute to overall performance by maximising the value of each JUMO ecosystem. This will extend to identifying and capitalising on new opportunities, partnerships and industry trends.

Be the project manager for all new initiatives, enhancements and experiments run in the country. The CM will be responsible for reporting on progress of the project both internally with support from project teams as well as externally to relevant partners.

Represent JUMO in country at all relevant platforms for promoting and extending JUMO’s overall strategy for Uganda and Kenya.

Work closely with the rest of JUMO GNM & Group to deploy the JUMO business model(s). Therefore working with the:

  • GNM Leadership Team – aligning local strategy to the GNM strategy
  • Product and Partnerships – leading project teams to develop products and/or business models to be deployed.
  • Capital Strategy team – securing local capital via FSPs and other appropriate funding sources
  • Portfolio / Prediction team – maximising portfolio performance and providing explanatory commentary to partners as needed.
  • Legal Team – negotiating contractual terms with partners / affiliates
  • Customer experience / success team – ensuring adequate and timely customer support for all in country products.

Capabilities

  • Ability to manage external relationships across levels from Jnr Management to Executives.
  • Strong commercial and business acumen, particularly someone that can easily operate across a number of disciplines and has the ability to think about all aspects of the business
  • Intellect and judgement
  • Resourceful and able to execute: Take full ownership ‘buck stops with me’ – ability to work independently and to make it happen, will do everything it takes to get it done
  • Understands how big organisations work, but is able to work in a small, agile and fast paced environment
  • Strong leadership experience in working in a matrix organisation
  • Ability to break down complex challenges into measurable work streams and to lead the delivery.
  • Good project manager that is able to coordinate multiple team efforts, track progress and report on key risks to success
  • Ability to work remotely – must be able to manage one’s time and deliver as expected, as well as get other team members to deliver while working remotely
  • Commercial experience / acumen and very strong with people.
  • A self-starter, able to work independently and collaboratively as needed, and escalate only when necessary.

What you’ll need

  • 8-10 years plus banking and regulatory experience. MNO / Payments Tech experience a bonus. Ideally at Senior leader level of a recognised institution in East Africa
  • A bachelor’s degree or equivalent from an accredited institution of higher learning
  • A strong understanding of Mobile money platforms and related business models
  • A wide network in business and government

We ask a lot of each other at JUMO, but we give a lot too.

Things you’ll love

  • Collaborating with smart, engaging people in an inspiring work environment
  • Working for impact
  • Growing and learning continuously, with loads of encouragement and support
  • Boldly taking risks as we navigate new challenges
  • Flexible work practices enabling your best delivery
  • Being autonomous and empowered to lead

Remote First

You will be based in Kenya or Uganda. We operate a remote first working approach where working remotely is our default way of working. We have co-working spaces available in Nairobi and Kampala for collaboration and connection and for the use of those who value and want to work out of an office. You have flexibility where to work from, as long as you have access to a reliable connection and are set up to work remotely.

Diversity and Inclusion

At JUMO, we believe that diversity strengthens our teams and we strive in our recruitment process to create an environment where people from every background can collaborate and prosper and be themselves.

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REQUEST FOR PROPOSAL (RFP) TO DESIGN FITSPA’S FINANCIAL AND ACCOUNTING AND HUMAN RESOURCE MANUALS

FITSPA is an independent, non-profit, membership-based association representing Uganda’s local and global FinTech community. The association’s aim is to build capacity within the Ugandan FinTech community and create a conducive environment to stimulate innovation in the financial services sector that will increase access to affordable financial services through ICT and ultimately promote inclusion.

FITSPA’s operations are centered around three core values:

1. Community: Bringing together the diverse parts of the community and encourage open dialogue, collaboration and co-creation to support the FinTech ecosystem through the development of robust, reliable technology.

2. Innovate: Learn from existing leaders and nurture the next generation of talent, attract greater investment and build capacity for the industry to create cutting edge quality solutions that directly address pain points of their customers and also empowers their businesses and personal lives

3. Advocate: Create a unified voice for the Uganda FinTech ecosystem and engage critical stakeholders in the development of proportionate and effective regulation and policy.

Through the Request for Proposal (RFP) to design FITSPA’s Finance and Accounting and Human resource Manual’s, FITSPA is inviting qualified and experienced consulting firms to submit their proposals.

This Request for Proposal represents the requirements for an open and competitive process. Proposals will be accepted until 5 p.m. Monday 12th July 2021. Contract terms and conditions will be negotiated upon selection of the winning bidder of this RFP. Proposal should be addressed to FITSPA Administration and Finance Committee and sent to info@fitspa.ug and accounts@fitspa.ug.

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Ugandan fintech startup Ensibuuko raises $1m funding round

Ugandan fintech startup Ensibuuko has raised a US$1 million funding round to help it scale at home and abroad.

Founded in 2014, Ensibuuko operates a proprietary microfinance platform developed especially for African credit unions (SACCOs) and savings groups. 

The software helps community-based microfinance entities automate their data, processes and payments so as to become efficient in delivering financial services in their communities. The platform is used by over 200,000 rural customers in Uganda, and is available in Zambia, Tanzania and Nigeria through partners.

Ensibuuko now plans to scale both within Uganda and into further international markets after securing US$1 million in funding from global impact investor FCA Investments. The goal is to scale rural banking infrastructure and digital financial services to millions of customers in Sub-Saharan Africa, with Ensibuuko also gaining access to FCA Investments’ technical resources and a global network of partners.

The new raise brings total investment into Ensibuuko to US$1.6 million, with the startup having closed a pre-seed round in 2017 from a group of Canadian angel investors. It also secured  some grant capital from the GSMA Innovation Fund earlier this year. Ensibuuko also intends to make major improvements to its newer digital loan and microinsurance products, which target rural customers.

“With this latest investment, Ensibuuko ups its competitive stance in Africa’s fintech space,” said the startup’s founder and chief executive officer (CEO) Gerald Otim.

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Ugandan fintech wins Catapult: Inclusion Africa 2021

Emata, a Ugandan Fintech that gives farmers access to digital and affordable financial products has been announced as the winner of the Best Catapulter Award at the end of the CATAPULT: Inclusion Africa 2021 digital bootcamp. 

Emata, a Ugandan fintech has been announced as the winner for Catapult: Inclusion Africa 2021

The award was announced at the end of CATAPULT: Inclusion Africa’s digital pitching ceremony held on 27 May. Each of the 14 finalists presented their final pitch to a panel of esteemed judges. 

Bram van den Bosch, CEO, and co-founder of Emata sheds light on the fintech’s innovative offering.

“Access to formal and affordable financial services is crucial for farmers to prosper, and we think Emata solves this sustainably and innovatively that ultimately strengthens the entire ecosystem. Catapult and the LHoFT has offered us a platform to meet, discuss with and learn from great founders and investors. We look forward to putting this into action as we scale up in Uganda and beyond.” 

As the overall winner of the bootcamp, Emata received €5 000 in LHoFT prize money and free entry and accommodation to attend the upcoming “African MicroFinance Week” in October 2021. 

The first runner-up of CATAPULT: Inclusion Africa was awarded to Mosabi, a Sierra Leone-based Fintech and Edtech hybrid. The fintech hybrid unlocks financial opportunities through innovative learning. 

The second runner-up was awarded to Nokwary Technologies, a Ghanaian startup developing voice-based interfaces for financial services, with the aim to facilitate financial inclusion of the technologically illiterate.

All the 14 Fintech participating in the bootcamp received a one-year free membership at the LHoFT. (See this story)

Emata

Founded in 2020, the Kampala-based fintech startup Emata provides a service that enables farmers to access a range of affordable and digital financial services. 

The fintech has reportedly built a credit history by digitising milk delivery systems in Uganda, based on this credit history the startup provides credit to farmers at interest rates that they can afford.

(Supplied)

Catapult: Inclusion Africa 2021

Developed by the Ministry of Foreign and European Affairs’ Directorate for Development Cooperation and Humanitarian Affairs with key strategic partners, the programme aims to help selected fintech startups grow, develop, network, and secure funding. 

The bootcamp served to build bridges for business between Africa and Europe and helped the Fintechs connect with an international set of investors and Venture Capitalists. During the 10-day online programme, participating fintech’s were provided insight into a range of topics including business model mapping, investment readiness, funding, and capital raising, social impact, scaling strategy, building teams, operational management, and pitch development.  

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MFS Africa leads $2.3M seed round in Ugandan fintech startup Numida

Small businesses in Africa need digital banking services, including plenty of credit. Although these businesses drive economic growth and contribute up to one-third of the continent’s GDP, they are often financially excluded from credit and other financial services due to their size and informality.

One such company tackling this challenge in the eastern part of Africa is Ugandan fintech startup Numida. And today, the company is announcing the close of its $2.3 million seed round.

Mina Shahid, Catherine Denis and Ben Best founded Numida in 2017 and capitalized on the opportunity to build one of East Africa’s first digital fintechs targeting semi-formal micro and small businesses. Typically, these businesses access credit from family, loan sharks and informal money lenders that offer poorly designed consumer credit. They can also get loans from a traditional microfinance institution but not without meeting a series of requirements.

But the founders didn’t set out to offer credit to businesses when they first started. An initial pilot in 2016 was centered around a bookkeeping tool that enabled traditional microfinance institutions (MFIs) to provide unsecured credit to semi-formal businesses.

“One of the major reasons why financial institutions don’t give loans to these businesses is because they don’t have good financial track records and cash flow history,” Shahid said to TechCrunch. “That was the problem we set out to solve — to create the mechanisms to get that cash flow data and present it in a form that can be used and incorporated into the underwriting processes.”

The founders thought that these microfinance institutions would begin to use the data obtained from months of bookkeeping to serve these businesses. But they didn’t envisage what happened after nine months. Shahid stated that even though the MFIs claimed to love the data that Numida could bring out, they were unwilling to adjust their underwriting practices. In turn, they rejected all Numida’s customers who applied for loans on the platform because they lacked collateral.

“So we thought among ourselves that if our mission is to unlock access to resources that these mom and pop shops need in order to grow their businesses, we’re not going to do that by partnering with these traditional MFIs; we had to do that ourselves,” he continued.

Via a proprietary credit score, Numida offers risk-based pricing on an applicant’s first loan. After that, businesses can access unsecured working capital loans of up to $3,500 in less than two hours, according to the company.Two business people using Numida

Numida business owners. Image Credits: Numida

From May 2017, when it pivoted, to September 2019, Numida kept its outstanding portfolio very small and iterated on its underwriting process and credit risk algorithm. After making several iterations, the company went full on to the market in October 2019, and the CEO says the company has grown 6x in lending volumes.

To date, it has provided more than $2 million in unsecured credit to 3,000 micro and small businesses in Uganda, disbursing around $250,000 per month. This is with outstanding collections, repayment rates and client retention, the CEO added.

Although the consumer digital lending space in East Africa has seen an abundance of transactions in recent years, the same cannot be said for startups targeting the micro and small business segment. As one of the few facing this segment, the business has faced issues around getting relevant data to improve its model but doesn’t collate data it thinks isn’t necessary (social media activities, SMS or mobile money transactions) for the sake of aggregating data.

“We look at the business fundamentals, the cash flow of the business, and some demographic data about the applicants. We’ve had to build our own data set because there are no readily available cashflow data on semi-formal, micro and small businesses in Africa,” remarked Shahid.

Its underwriting model was built off 15,000 loans, which took a long time to execute, and this timing puts some strain on how fast it can onboard customers and serve them. But the company has since moved past that problem and easily serves thousands of customers. The pandemic also helped in accelerating its growth and with this new investment, Numida is poised to grow further.

Pan-African payments company MFS Africa led the seed round. There was also participation from firms like DRK Foundation, Equilibria Capital and Segal Family Foundation alongside angel investors.

The last time MFS Africa was in the news regarding an investment dates back to June 2020, when it acquired Ugandan fintech startup Beyonic for an undisclosed amount.

Rising African venture investment powers fintech, clean tech bets in 2020

Numida is another Ugandan fintech, and a similar play might be in the cards. According to Shahid, the most obvious acquisition path for any successful lending startup to small businesses in Africa is a payments platform. His reason? Because credit is one of the core financial products that will create loyalty and retention to a specific payments platform.

He adds that MFS is a strategic investor in Numida and not the typical VC. He sees the Pan-African company as owning infrastructure, which his company can ride on as a solid foundation for scale. “That’s an opportunity we see in the future. We were concerned about scaling across the continent and who would be the best partner for this. We thought MFS has a lot of expertise and footprint on the continent that will allow us to scale moving forward.”

With this new financing, Numida plans to expand aggressively in Uganda and pilot in a new market, preferably in West Africa. There are some parallels between Uganda and Ghana, Numida’s primary choice in the region. They both have similar mobile money penetration, issues with traditional financial service providers and similar businesses that Shahid says make an enticing market. Per plans, Numida will introduce to its customers additional financial services like payments, micro-insurance and deposits

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African payments company Flutterwave raises $170M, now valued at over $1B

The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Today we behold another unicorn: African payments company Flutterwave announced that it has closed $170 million, valuing the company over $1 billion.

New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global led the Series C round. New and existing investors who participated include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Partners, Salesforce Ventures, Tiger Management, Worldpay FIS and 9yards Capital. 

The Series C round comes a year after Flutterwave closed its $35 million Series B and $20 million Series A in 2018. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding. 

Launched in 2016 as a Nigerian and U.S.-based payments company with offices in Lagos and San Francisco, Flutterwave helps businesses build customizable payments applications through its APIs.

When the company raised its Series B, we reported that Flutterwave had processed 107 million transactions worth $5.4 billion. Right now, those numbers have increased to over 140 million transactions worth more than $9 billion. The company, which also helps businesses outside Africa to expand their operations on the continent, has an impressive clientele of international companies, including Booking.com, Flywire and Uber.

Flutterwave says more than 290,000 businesses use its platform to carry out payments. And according to the company’s statement, they can do so “in 150 currencies and multiple payment modes including local and international cards, mobile wallets, bank transfers, Barter by Flutterwave.”

While its website shows an active presence in 11 African countries, Flutterwave CEO Olugbenga Agboola, also known as GB, told TechCrunch the company is live in 20 African countries with an infrastructure reach in over 33 countries on the continent.

Last year was a pivotal one for the five-year-old company. Its second investment came just in time before the COVID-19 pandemic hit Africa, negatively impacting some businesses but not payments companies like Flutterwave.

Agboola says his company grew more than 100% in revenue within the past year due to the pandemic without giving specifics on numbers. It also contributed to its compound annual growth rate (CAGR) of 226% from 2018.  

According to the CEO, this growth resulted from an increase in activities in “COVID beneficiary sectors” — a term used by Flutterwave to describe sectors positively impacted by the pandemic. They include streaming, gaming, remittance and e-commerce, among others. Agboola adds that the company plans to ride on these sectors’ growth and continue in that trajectory.

Besides, Flutterwave’s response in introducing the Flutterwave Store for merchants during pandemic-induced lockdowns was instrumental as well. The product, which went live across 15 African countries, helps over 20,000 merchants to create storefronts and sell their products online.

Image Credits: Flutterwave

Flutterwave wants to become a global payments company, and the Series C investment helps to reach that goal. The company says it plans to use the funds to speed up customer acquisition in its present markets. It will also improve existing product offerings like Barter, where it has over 500,000 users, and introduce new offerings. One such is Flutterwave Mobile, which in the founder’s words “will turn merchants’ mobile devices into a point of sale, allowing them to accept payments and make sales.”

In a statement, Agboola gives credit to the company’s more than 300 staff, investors, customers and regulatory bodies like the Central Bank of Nigeria (CBN) for creating the backbone for Flutterwave’s success.

For some, it would come off as strange that the CEO mentioned the last stakeholder given the unfavourable and questionable regulations it has recently placed on fintechs in Nigeria.

However, Agboola thinks the reverse is the case. He makes a bold statement by saying that under the current CBN governor’s administration, the Central Bank has shown a consistent regulatory framework that has allowed fintechs like Flutterwave to thrive.

“Flutterwave, for instance, launched when the governor just came in. We got our license and scaled our business because of a favourable regime that allowed it to be possible. There are so many trailblazing innovations that we don’t talk about a lot about Nigeria, like the BVN and the NIP system. Nigeria has consistently been at the forefront of payments innovation for over a decade, and it was all possible because of the forward-looking CBN policies,” he said.

On exits, acquisitions and the billion-dollar club

One fintech company that has unquestionably championed payments in this time frame is Interswitch. The payments giant is currently worth $1 billion after Visa acquired a 20% stake in 2019, and Flutterwave joins the company as the only fintechs in Nigeria to have reached that valuation. This number increases to four in Africa when including publicly traded African e-commerce company Jumia and Egyptian payments company Fawry.

Flutterwave’s $170 million mammoth raise and its billion-dollar valuation represent a landmark achievement for the African startup scene. While the aforementioned companies’ valuations can’t be disputed, there are question marks on whether some are startups and whether others are African companies.

Interswitch, for instance, was founded in 2002, which doesn’t necessarily make it a startup despite still being private. Fawry was launched in 2007, but didn’t become a billion-dollar company until 2020, a year after going public. Jumia, albeit public, reached unicorn status as a private company in 2016; however, there are varying opinions as to whether it is an African company or not.

Unlike the others, Flutterwave checks all the boxes of what a billion-dollar African startup should ideally look like — founded by Africans in Africa while reaching a $1 billion valuation in fewer than 10 years.

Most stakeholders in Africa’s tech ecosystem knew this would happen, but the timing expected was later rather than sooner. After raising $35 million in a Series B in 2020, who would have thought Flutterwave was going to raise almost five times that amount the following round and be valued at more than $1 billion the next year? Maybe just a few.

Well, these numbers rarely matter to Agboola, as I ask him what he thinks of Flutterwave’s new growth metric. “I’ll say valuation is both art and science. At some point, we were also the most valuable African company at YC, but it’s not really a metric we’re focused on at Flutterwave because they move up and down,” he smiles. “Our key metrics have always been revenue, customer growth and retention.”

Aptly said, but as the company continues to grow, questions around profitability and exit will become more frequent.

Paystack, another Nigerian payments company that is often compared to Flutterwave, got acquired by Stripe for more than $200 million last year. At the time, there were also rumours of Flutterwave taking the same route, but this Series C raise suggests that the company is not looking to exit at the moment. However, if the YC-backed company indeed does, it might be through an IPO.

“Like every other startup, we’re thinking about ways to create exit tools for our investors. So, a listing is very much in our plans, but for now, we’re focused on giving the best value to our customers,” Agboola said. 

In the course of the company’s journey to this point, it has remained big on partnerships. In 2019, Flutterwave partnered with Visa to launch Barter and Alipay to offer digital payments between Africa and China. Then last year, the company announced a partnership with Worldpay FIS for payments in Africa.

Although Flutterwave has done this with bigger establishments, Agboola says the company will be looking to do the same with smaller companies, opening the doors to potential acquisitions.

“We believe in payments in partnership as you have to partner to scale. So, if in the course of making partnerships and scaling and we identify promising companies with a similar ethos and have our vision in mind, that is in making Africa a country, an acquisition isn’t off the table,” he said.

After capturing much of Sub-Saharan Africa, Agboola says Flutterwave’s next plan is to go live in North Africa. There, it will likely face competition from a local leader, Fawry, but that doesn’t matter. The African fintech market is large enough to accommodate multiple players.

That’s one reason why it has also been a popular bet with investors. The sector, which is both local and international investors’ top destination, attracted between 25% to 31% of the total VC funding last year from varying sources.

But from the information on their websites, this is the first time Flutterwave’s lead investors —  Avenir Growth Capital and Tiger Global — are backing an African fintech startup. For the former, Flutterwave represents the first African startup in its portfolio, but Tiger Global is known to have invested in Nigerian media company iROKOtv and South African e-commerce company, Takealot.

Via their partners — Jamie Reynolds of Avenir Growth Capital and Scott Shleifer of Tiger Global, both firms said they’re backing Flutterwave on its quest to build a global and world-class payments company.

Looking into the future, Agboola insists that the company’s focus remains to support its 290,000 merchants and help them build global businesses.

“We look forward to increasing our investments across the continent and deepening the impact our platform has on lives and livelihoods as we take more businesses in Africa to the world, and at the same time continue to bring more of the world to Africa,” he said.

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Flutterwave and PayPal collaborate to allow African merchants to accept and make payments

It is nearly impossible for businesses in some African countries to receive money from PayPal. While the payments giant has not given reasons why this is so, speculation hints at factors like insufficient regulation and poor banking security in said countries. 

That might be a thing of the past for some businesses, as African payments company Flutterwave today is announcing a collaboration with PayPal to allow PayPal customers globally to pay African merchants through its “Pay with PayPal” feature.

Via this partnership, African businesses can connect with the more than 377 million PayPal accounts globally and overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure on the continent.

According to CEO Olugbenga “GB” Agboola, this will happen via a Flutterwave integration with PayPal so merchants can add PayPal as a payment option when receiving money outside the continent. The service, which is already available for merchants with registered business accounts on Flutterwave, will be operational across 50 African countries and worldwide, the company claims. Flutterwave hopes to roll out this service to individual merchants on the platform as well.  

“In a nutshell, we’re bringing more than 300 million PayPal users to African businesses so they can accept payments across the continent,” he said to TechCrunch. “Our mission at the company has always been to simplify payments for endless possibilities, and from when we started, it has always been about global payments. So despite having the largest payment infrastructure in Africa, we want to have arguably all the important payments systems in the world on our platform.”

Image Credits: Flutterwave

A PayPal spokesperson confirmed the Flutterwave collaboration with TechCrunch.

Since the company’s expansion to Africa, it has maintained a one-sided relationship with most countries on the continent, allowing them only to send money. And according to its website, only 12 African countries can send and receive money on the platform, but to varying degrees. They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa.

Users in countries who are not afforded the luxury to do so have to rely on using the PayPal account of a friend or family, based in countries where payments can be received. Next, they request the funds via bank transfer, leading to more incurred costs or use other cross-border money platforms like WorldRemit.

This is a pain point for these businesses, particularly in Nigeria. PayPal finally arrived in Africa’s most populous country in 2014, and a year later it became the company’s second-biggest market on the continent.But despite its fast adoption rate and large fintech appetite, merchants cannot still receive payments from other countries on the platform. Various sources have alluded to PayPal’s decision not to make this service available to the country due to its history with internet fraud. Fraud or not, Nigeria’s e-commerce and that of the continent at large continues to grow at a breathtaking pace. In 2017, Africa generated $16.5 billion in revenue, and by 2022, it is expected to reach $29 billion. With numbers like this, it isn’t hard to see why PayPal wants to get in on the action, albeit not completely. Hence, the partnership with Flutterwave.

The company, via its APIs, offers payment services to individuals and businesses across the continent. Since launching in 2019, the African payments company has partnered with Visa to launch Barter; Alipay to offer digital payments between Africa and China; and Worldpay FIS for payments in Africa.

But this one with PayPal is arguably its biggest collaboration yet. Now, African businesses have more access to sell to global customers using PayPal to receive and send payments online. 

In a way, Flutterwave absorbs most of the risk PayPal thinks it will incur if it makes its platform more open to merchants in these countries. But at the same time, it solidifies Flutterwave’s position in the eyes of multinationals looking to enter the African market.

Like when its partnership with Worldpay FIS coincided with its Series B funding, this announcement is also coming on the back of a raise. Last week, the payments company closed a $170 million Series C led by Avenir Growth Capital and Tiger Global, becoming a billion-dollar company in the process.

In hindsight, the mammoth raise suggests that there are a couple of projects in the company’s pipeline. Going by this partnership, we can expect the majority of them to be global plays.

Yet, these questions remain top of mind — What happens when PayPal automatically allows businesses from these neglected African countries to start receiving payments? Will both services continue to coexist if that happens? We’ve reached out to PayPal for comment.

However that plays out, this is a step forward in the right direction for Flutterwave, which has shown time and time again the length it is willing to go for its 290,000 merchants and the ongoing quest to become a global payments company.

“By working with PayPal, we can further strengthen our commitment to our customers and service users as we will be enabling them to transact and expand their business operations to reach new markets. PayPal’s global reach is unrivalled, and collaborating with them allows our customers to explore new markets where PayPal is embedded,” the CEO said.


Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product-market fit, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included for audience questions and discussion. Use code “TCARTICLE at checkout to get 20% off tickets right here.

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Digital and Innovation Coordinator – DanChurchAid

Digital and Innovation Coordinator
DanChurchAid
Kampala with travels mainly within Uganda

DanChurchAid (DCA) is urgently looking for a suitable professional to fill the position of Digital Innovation Coordinator.

The main function of the Digital and Innovation Coordinator is to coordinate and initiate digital innovation in DCA Uganda. The position will support the development, expansion and implementation of DCA digital interventions through innovative digital solutions, with a focus on sectors in Digital Finance and Agriculture. The position will add value to beneficiaries and partners through digital channels using current and future digital technology and capabilities. The Digital and Innovation Coordinator will be updated on market trends, assessing opportunities and adopting best practices from partners, private sector and other relevant stakeholders.

The Digital Innovation Coordinator reports to the Country Director and works closely with the Programme Unit and the Humanitarian team.

Main tasks and responsibilities
The Digital Innovation Coordinator will be responsible for:

  • Providing overall leadership in driving implementation of digital activities; reporting, analysing and identifying trends to enable data driven decisions.
  • Expanding and developing digital strategic initiatives that will drive the digitalization of DCA projects with the beneficiaries in the center.
  • Providing technical support on digital solutions in both humanitarian and development projects.
  • Facilitating the Collaborative Digital transformation Platforms in Uganda as well as participate in relevant technical working group meetings and relevant sector meetings.
  • Actively engaging local partners to follow market trends and seek opportunities for improvement through own staff. This should happen with a special focus on livelihoods interventions.
  • Managing relationship with stakeholders including private sector, NGOs and government, building strong relationships to facilitate the implementation of the programme and ensure sustainability of the interventions.
  • Proactively building relationship with donors at country and global level to raise funds for the programme.
  • Support digital innovation work through leveraging with partner innovation accelerators/hubs such as private sector.
  • Supporting diversity and a help fostering a culture of continuous improvement with in digital transformation.
  • Identifying learning, training and knowledge sharing opportunities for staff and partners including ACT members in relation to digital transformation.
  • Ensuring close cooperation and exchange of information within DCA and the ACT Alliance, incl. collaboration on appeals and other joint humanitarian responses.
  • Assisting in project and proposal developments as well as preparation and implementation of reviews and evaluations of projects.

    Required qualifications, skills and experience:
  • Bachelor’s degree in IT, computer science or other related discipline.
  • Min. 5 years’ work experience from the private sector.
  • Experience working in humanitarian response, programme with livelihoods, cash transfers and development work is an advantage.
  • Understands how to use digital channels to effectively reach and communicate with target groups.
  • Innovative and motivated by finding and testing new approaches.
  • Outgoing, results-oriented and proactive with good liaison and coordination skills.

DCA’s Uganda Programme
DCA has supported development and humanitarian programs in Uganda since 1979, working in partnership with local partners. DCA is a member of the ACT Alliance. Our key competencies in Uganda are livelihoods and food security, humanitarian response and civil society. For more information please visit https://www.danchurchaid.org/where-we-work/uganda

Application
Interested candidates should send their CV and cover letter via the application link provided.
 
Deadline for applying is 27th June 2021.
 
DCA offers a salary package (salary, insurance, and pension) in accordance to experience and DCA Uganda HR Manual. 

DCA is an equal opportunity employer and all interested and qualified candidates are encouraged to apply regardless of age, race, gender, marital status and religious, political or ethnic affiliation. 
 
While we appreciate your interest to work with DCA, only shortlisted candidates will be contacted.
 
 

Information:

Place:  Kampala ,  Uganda
Deadline: 27/06 2021
Contact person: Baluka Harriet
Senior Human Resource Officer
hbal@dca.dk

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Payments & Financial Services Manager – Safeboda Uganda

At the click of a button, SafeBoda provides a safe, more convenient, mobile-first transportation platform for Africa’s booming young population. On the high-frequency use of our transportation service, SafeBoda is providing value to consumers, our drivers, and passengers, with additional financial services, payments, and other on-demand services to keep Africa moving forward. Based in Uganda, Kenya and Nigeria we are a venture-funded company (Series B) that is already having a huge impact on millions of people in East and West Africa.

What we are looking for

SafeBoda is looking for a Manager to help lead the Merchant Services business vertical within our Payments and Financial Services team. 

You will be responsible for establishing strategic partnerships with businesses, either leveraging the SafeBoda community to help our partners grow their customer base, or embed SafeBoda as the preferred digital payments provider for their company. This will require working with a range of actors. In addition, this will be an exciting and challenging role that enables the successful applicant to play a pivotal part in identifying, testing and scaling opportunities for SafeBoda.

Responsibilities: 

  • Identify and grow Merchant use cases for the SafeBoda Walle
  • Develop B2B relationships delivering a variety of products across payments, lending and logistics to merchant partners
  • Manage a series of corporate partnerships across multiple areas
  • Develop highly scalable products and collaborate across Product, Engineering and Operations to deliver.
  • Deliver on very ambitious targets

You must have:

  • Experience in B2B sales or relationship management  
  • Product development experience is a plus
  • Proven leadership and ability in scaling a team
  • Bachelor’s degree in a business or finance related field with academic excellence
  • Pro-active ability to move fast, innovate and find creative solutions
  • Solid analytical skills and advanced experience of Excel
  • Excellent communication skills with the flexibility to negotiate corporate partnerships one minute and explain financial concepts to SafeBoda riders the next
  • Love our product and be curious about how it works
  • Live the SafeBoda values, represent the company in everything you do and constantly fly the flag.

Benefits

  • Scale with a rapidly growing startup, with tons of opportunity for growth and impact
  • Contribute to our mission and work at our dynamic and fast-paced company in Africa
  • Competitive salary based on experience 
  • Free SafeBoda transport
  • Free lunch every day


Ready?

The need for this role is urgent, and we’d like the right candidate. Send an email to tim@safeboda.com stating why you would like the role and with your CV/Resume attached.