In 2015, Capricorn Digital Limited introduced a unique technology-driven Point of Sale (POS) device known as Baxi Box (pictured above), to help improve online business transactions on a real-time basis for the mass market consumers (people who do not use smartphones) through a network of agents. Capricorn is a digital solutions and distribution company that supports the growth of agents, merchants and MSMEs through the efficient and effective distribution of digital products and services utilising its extensive distribution network across Nigeria. RenMoney is providing loans to small retailers and other agents to fund purchases of a Baxi Box and associated […]
The 2016 Groupe Speciale Mobile Association (“GSMA”) report “State of Mobile Money in Sub-Saharan Africa” revealed that the number of live mobile money services amounts to 140 across 39 countries in the Sub-Saharan region at the end of 2016 from its lowest level of 2 in 2006. This represents more than half of the 277 mobile money transactions across the globe. In the last ten years, the global mobile money adoption has been driven by the growth in the Sub-Saharan Africa where this comprises of East Africa, Central Africa, Southern Africa and West Africa bringing the region at the forefront […]
A study by the Organisation for Economic Co-operation and Development (“OECD”) released in July 2017 revealed that just 26% of business loans from banks in South Africa are granted to SMEs, and that the number of microfinance providers has dropped. This is significantly lower than other wealthy emerging countries. For comparison, banks in South Africa’s BRICS counterparts China and Brazil lend 64% and 40% of their business loans to SMEs respectively. A study by the International Labour Organisation in 2016 revealed that microfinance ranked last out 11 possible ways to finance a start-up business. The high unemployment rate and unequal […]
