Microfinance institutions, especially traditional 'susu' collectors, are mostly characterized by paper and non-automated transaction processes.
A new financial technology, Mobart, is however aiding susu collectors to capture mobile transactions conveniently to save them adequate working hours.
The technology is designed for the collectors to transact at no cost and without internet connectivity.
The application, built on an AI technology known as Opanet, allows innovators to design technological solutions tailored towards the specific needs of microfinance institutions
Project innovator, Paul Opoku, revealed the mobile application is easily accessible with a user-friendly interface.
“Mobart is an end-user terminal that is both a software and a hardware. The technology helps mobile bankers to both print receipts and send SMS notifications to customers.
“It doesn’t run on the internet and has a very intuitive interface and is accessible anywhere,” he said.
After a pitching session at a local pitch summit in Kumasi, the innovators of the software emerged winners qualifying to the national pitch front.
They competed with other start-up firms including Hypacart, a groceries and equipment purchasing app, and B-Poku Farms which is into production of fertile poultry eggs.
The participating start-ups underwent 17-weeks of intensive and interactive training to equip them with relevant skills to ready their businesses for investment.
Project Lead for the National Acceleration Program, Getrude Mawuena Goh, explained the training enhances start-ups to become more investor-ready.
“The acceleration program is in three phases, pre-acceleration phase where start-ups are taken through a pitching session and then progresses to the core phase.
“The core phrase entails matching the start-ups to enterprises and business development training for 17 months.
“The final phrase which is the post acceleration attracts more investors to these start-ups,” she said.
Latest Stories
-
Sports facilities are better managed by institutions – UG Sports Director on maintenance of Legon stadium
10 mins -
Ghanaian businesses must align vision with strategy to mitigate ESG Risks – KPMG
21 mins -
MTN achieves 30% localisation of Scancom PLC
22 mins -
Attorney-General: Some lawyers sacrifice ethics for ‘cheap’ political gains
33 mins -
Bond market: Volume up by 12.45% to GH¢746m
34 mins -
Cedi records year-to-date loss of nearly 29%; one dollar going for GH¢17.10
42 mins -
‘Our priorities are wrong in Ghana’ – UG Sports Director on sports development
42 mins -
The Fourth Estate’s investigative report wins 2nd place at 2024 AIJC
1 hour -
GPL: Our fans spur us on – GoldStars head coach Frimpong Manso on unbeaten run
2 hours -
Plantain chips are breaking hearts in Africa
2 hours -
61 new architects acquire state license to practice in Ghana
2 hours -
Masloc CEO honoured as capacity building Shero of the Year
2 hours -
MPs’ Repeated Attempts to Sue the Speaker: Unintended Consequences for the 2024 Elections?
2 hours -
Today’s front pages: Tuesday, November 5, 2024
3 hours -
Galamsey: Investigation into attack on Joy News’ Erastus Asare and colleagues already growing cold
3 hours