Kenya - Business creation project

Describe your project or startup in a few words

Mobile Money Transfer Tracking System is an innovation that is used to track expenses incurred through customer to customer(C2C) or Business to Business (B2B) transactions when transacting using mobile money services to registered customers.

01.01 Describe your project in more detail

An aspect of this case is that users are provided with subscriber identification modules (SIM) to support the transactions between the users, a handset to hold the SIM module that has a screen for selecting a menu of transaction options. The transaction options are money transfer, send money, enter mobile number, enter amount you wish to send and security features like personal identification number (PIN) and confirmation prompts, and, expense name with an option to tag the transaction expense. The expense name option has two buttons-cancel button and a send button. That if you don’t want to tag any expense, you press cancel button and the action will be ended while your transaction proceeds to completion, if you want to use it, you tag that expense then you press send button and the action will be completed. The expense name will be sent together with the transaction reference number. The sender and recipient will then receive the same message

01.02 What is the main problem you are trying to solve?

MOBILE MONEY TRANFER ( E.g MPESA) has brought a lot of advantages in terms of sending money and payment of utility bills. In sending money, people send money for different purposes, including; - Payment of rent. - Payment of debts owed to third party - Sending charismas gifts as well as birthday gift - Whatsapp collection etc However, with this innovation, when paying for rent, it will be very easy for both parties to know and to differentiate if money was sent for rent or for another reason – that is if the two parties have many transactions taking place. On payment of debt, this will solve issues of trustworthiness and conflict that may arise from people who are fond of changing their mind for their own gains

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

1. Transparency 2.accountability 3 verifiable

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Any person that transact through mobile money

01.05 When did you start working on your project?

2019-01-01

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

N/A

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

i) Communication services (telecommunications, media, interactive services)

02.01.01 My project contributes to the No poverty goal

5

02.01.02 No poverty - Justification

When we have a well defined way of varying business transaction , and a honest transaction, people dont lose money since they are able to account well for their money

02.02.01 My project contributes to the Zero hunger goal

2

02.02.02 Zero hunger - Justification

good accountability leads to proper money management, reduction of money wastage. This in turn reduces hunger

02.03.01 My project contributes to the Good health and well-being goal

3

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

4

02.04.02 Quality education - Justification

Fee payment done on mobile transaction and CATEGORIZED as FEES ensures no compromise on learning

02.05.01 My project contributes to the Gender equality goal

6

02.05.02 Gender equality - Justification

There are many ways that gender inequality holds us back. But overall, the math is simple: Half the world’s population is financially stunted. As long as we keep suppressing the economic potential of women, we will never achieve the growth and prosperity we want. Fortunately, Mobile money transfer service, suggests that digital financial services can be a powerful tool for catalyzing the participation of women and the opportunities available to them in the formal market economy. Mobile money transfer tracking system provides a mobile transaction platform that allows people to store, send and receive money in much the same way they send and receive text messages. It’s a basic financial tool, but for women who knows exactly what their money is spent for by sending, it can be life changing.

02.06.01 My project contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Economy with proper financial management plan such as good accountability leads its growth. This good accountability can better be achieved by tracking every expenses of every day transaction as they are spent.

02.09.01 My project contributes to the Industry innovation and infrastructure

5

02.09.02 Industry innovation and infrastructure - Justification

Communication industry is developing industry that needs to be improved on a daily basis for the betterment of the economy... economy with proper Communication infrastructure is a sign of growth. My project will contribute to this since it improves the already existing information system

02.10.01 My project contributes to the Reduced inequalities goal

3

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

2

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

5

02.12.02 Responsible consumption and production - Justification

Responsible consumption- by sending money through mobile phone and categorising its purpose makes the recipient to spend the money only according the will of the sender. E.g If a tenant sends money to a drunk landlord and categorises it as rent, it will therefore be for rent not to add more beer.

02.13.01 My project contributes to the Climate action goal

2

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

2

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

2

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

4

05.02 The product/service we envision creating represents an entirely new type of product/service.

6

05.03 The product/service we envision creating could be described as a new technology.

5

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

7 - Strongly Agree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

2

05.08 Justification

The present innovation is new in the field of mobile money transfer. In the current market, the mobile subscribers do not get this feature of tracking/categorising their expenses during money transfer since the network providers do not offer this. Therefore, this newly invention is giving people the ability to track/categorise their daily expense every time they send money through their mobile phones. This will be categorized as Value Added Service, to what is already existing in MPESA/AIRTEL MONEY as Mobile Money Pay Service.

05.09 Who are your main potential competitors and what makes you stand out from them?

No competitors

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

N/A