KAMPALA– As part of its on-going Financial Inclusion efforts, HiPipo has on Friday May 15 launched the 40 DAYS 40 FINTECHs initiative with online registration currently underway.
40 DAYS 40 FINTECHs, running from 25th May to 5th July 2020 will have 40 Africa based FinTech companies get introduced to Mojaloop OSS and guided on how to best use this open source software to achieve the best financial inclusion results for their bigger audiences with Women led FinTechs given special attention.
While announcing this development, Innocent Kawooya – the HiPipo CEO noted that this initiative will help to expose local FinTechs, developer teams or emerging companies to new tools available to reach the poor and as such extend access to innovative financial services.
“FinTechs should be excited because they have a grand chance to expand their market, first through learning and developing interoperable solutions using new amazing technologies such as Mojaloop. And secondly, because of the many discoveries and lessons they are going to make from the many astonishing and failed stories that we are going to discover and expose to the FinTech community and the world.” Mr. Kawooya said.
“Additionally, thanks to this initiative, Mobile Network Operators and Banks are going to be more open to integration and collaboration and last but most importantly, one or a number of the FinTechs that will participate in the initiative, collaborate and embrace the use of Mojaloop might turn into the real heroes of our economy that will maybe create a payment switch that will simplify payments interoperability in different markets forever.”
To register for the 40 DAYS 40 FINTECHs project https://www.hipipo.org/40-days-40-fintech/
The program, include everyone, run by HiPipo is keen to promote secure digital financial services because of their vital role in promoting financial inclusion.
The program through the Include Everyone program identify, analyse, and prioritize trends and innovations in digital financial services (DFS) that have potential impact on financial inclusion in Africa.
The primary objective is to flag, advocate for and shine a light on impactful and transformative directions in the financial inclusion arena.
Our aim is to influence and shape financial technology and policy decisions within regulators, policy makers, government, political, economic, and social systems and institutions.
Mojaloop OSS is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. It was originally developed by ModusBox with funding from Bill & Melinda Gates Foundation Level 1 Project in 2017.
However, on May 6th 2020, the Mojaloop Foundation was unveiled with its initial sponsors being Coil, Bill & Melinda Gates Foundation, Google, ModusBox, Omidyar Network, and The Rockefeller Foundation.
The established of the Mojaloop Foundation will extend financial inclusion efforts, initiated by the Mojaloop platform to over 500 million people in developing countries.
In West Africa, MTN and Orange Group are already using Mojaloop for a joint mobile money wallet product code-named MOWALI, Tanzania, at the start of 2019 rolled out the Tanzania Instant Payments System (TIPS) fully supported by the same software while in Kenya, a Mojaloop developers community is picking up.
Mojaloop made its entry in to Uganda in September 2019 with a 3 days Hack Mojaloop Developers workshop held in Kampala and organized by HiPipo – a local partner of Mojaloop in the country.