Digital Finance Plus
The Digital Finance Plus initiative has a simple mission: we aim to broaden access to essential services for the poor in energy, water, and education through the use of mobile and other digital payment systems. More people worldwide have access to a mobile phone than a bank account, particularly among the poorest. By linking digital finance to innovative provision of the most basic services, Digital Finance Plus transforms lives, and improves them for the better. It acts as a catalyst, innovator, and advocate for the growth of a robust ecosystem that supports mobile technology empowerment for the poor.
CGAP has established three Digital Finance Plus partnerships which allow us to further explore opportunities in this sector.
This U.S and Kenya-based company broadens access to energy for off-grid customers through a technology platform that allows customers to pay-as-you-go (PAYG). By using mobile payment systems and mobile banking for solar and other modern sources of energy, Angaza Design helps customers overcome the outheavy up-front costs of solar energy. The partnership with CGAP aims to better understand how the combination of PAYG technology and digital payment impact costs to consumers and providers.
This Tanzania-based company is a leading PAYG provider of solar energy to off-grid customers in Tanzania and Kenya. Under their model, customers sign up for a level of energy service by paying a small deposit, and then continue to pay for days of use only, with no fixed commitment to continue buying. The partnership with CGAP aims to better understand the advantages of service-based business models, as well as best practices in promoting sales and engaging service agents.
This Berlin-based company sells both larger solar home systems as well as the traditional micro-solar access to low-income, off-grid customers on a rent-to-own basis in Tanzania and Rwanda. Mobisol has hardware that enables remote monitoring and disconnect of solar assets, and a set of software tools to process payments and track customers. Light touch partnership with MNOs for mobile payments. The partnership with CGAP aims to better understand the rent-to-own model, as well as the consumer financing component.
Sustainable Energy and Water Access through M2M Connectivity (GSMA)
Smart Water Systems (DFID and Oxford University)
A Prepaid Architecture for Solar Electricity Delivery in Rural Areas (Bennu Solar)
Multiplying Agriculture by the Power of Mobile (World Economic Forum)
Connected Agriculture (Accenture)
Advancing the Dialogue on Mobile Finance and Mobile Health (mHealth Alliance)
How Financial Innovation Helps the Poor Improve their Lives (HuffingtonPost)
Topic Contact: Kabir Kumar