mPEX International Will Partner With Software Group To Advance Financial Inclusion In Uganda’s Agricultural Sector.
(2019-06-03) mPEX International, a financial inclusion services company in the African agricultural sector, will partner with Software Group, a global technology company specialized in digitalization and integration solutions for financial service providers, to advance financial inclusion in Uganda’s agricultural sector. The project will include the design and implementation of a mobile app that will help small and medium agricultural enterprises (SMEs), plan their financing needs and manage flows of stock and cash to reduce the risk of loan default. Read the press release of Software Group.
Digitization of Financial Data
(Kampala, 2019-05-28) This week our software partner Software Group made great progress collecting information from Centenary Bank to build an App for mPEX. The App will help SMEs in the agricultural sector with their business management and to become more reliable partners for banks. The digitization of financial data aims for greater efficiency and will save much time for both SMEs and the bank.
Left to right – Jackline Karugu (Software Group Business Analyst) , Andrew Waweru (Software Group Regional Team Lead, Africa Development and Implementation), Faisal Addae (Software Group mPEX Project Manager)
Working on Credit Management
(Kampala, 2019-05-17) James Weaver (mPEX Credit Management Consultant, right) met with Paul Nyende, (CEO of AgriNet an SME with a grain processing enterprise in Tororo). James and Paul are working together to develop new credit management ideas to suit a wide range of SMEs. Read more about Agrinet and how mPEX works with the market access company..
A Successful Kick Off for the mPEX Venture with Centenary Bank
(Kampala, 2019-05-17) On 17th May 2019 Fabian Kasi, Managing Director of Centenary Bank, invited the mPEX team to meet the heads of departments who will be involved in the project. Next week Centenary Bank will be sharing their insights with mPEX and Software group in order to develop a Mobile Application, to help improve financial inclusion in the agricultural sector.
New venture in Uganda
(Kampala, 2019-05-13) mPEX International begins an exciting new venture in Uganda, a new partnership with Centenary Bank to take up the challenge of financial inclusion in the agricultural sector. Creating new technology in partnership with Software Group, our digital finance partner.
mPEX Annual Report 2018 Summary
(Dietikon, 2019-04-05) A project business case and project plan with budget were elaborated and negotiated with Deutsche Bank – the fund managers for the African Agricultural Trade and Investment Fund –(AATIF) and our Ugandan finance partner Centenary Bank. Centenary Bank is a large financial services provider in Uganda. It is primarily involved in the promotion of development through loans to rural farmers, processors of agricultural produce, small traders, small manufacturers, importers, and exporters.
The contract amendment between mPEX and SoftwareGroup defined a mobile App to be built on top of SoftwareGroup’s DigiWave platform for financial service applications. Software Group is a global technology company specialized in digitalization and integration solutions for institutions that provide financial services. With a highly experienced team of over 300 professionals, it currently serves a worldwide client base in more than 65 countries. The company’s vision is to accelerate financial inclusion by creating cutting edge technology solutions.
A fully functional loan management simulation and first ideas on App User Stories for both SME and bank loan officers was developed with our banking advisor.
A Consulting Agreement between mPEX and AATIF, to support a 9-month pilot project in Uganda with Centenary Bank, was finalised and approved by the CFC Technical Assistance committee. At the close of 2018 Centenary Bank were finalising their internal procedures. The final signatures will trigger the start of the Pilot Project.
mPEX Annual Report 2016 and 2017 Summary
(Dietikon, 2018-03-06) Following formal registration of mPEX in August 2016 in Zurich and presentation of our TSS business concept at The Global Africa Investment Summit in Kigali in September 2016 we learned that our business concept was too complex and difficult for potential investors to grasp and focused our business concept on financial inclusion rather than value chain facilitation.
Potential finance partners emerged from the AFSIC conference in May 2017. Deutsche Bank expressed interest to support financing a pilot project with local banks, with some banks in East Africa expressing interest to participate in a pilot. During visits to Uganda with Deutsche Bank in October, we agreed a strategic partnership with Centenary Bank to implement a pilot project with financing from African Agricultural Trade and Investment Fund (AATIF), with Deutsche Bank as the fund managers for AATIF.
We reworked our SaaS product to include use of an App for loan management alongside mentored peer- exchange learning. Our loan management model for SMEs required revision; credit models and credit management were refined by our banking expert and business development consultant in collaboration with AgriNet, a local Ugandan SME.
We ended 2017 with a contract in place with our technical partner SoftwareGroup and draft MOUs with our development partners to implement a pilot project in Uganda. The coming year will be dominated by developing and negotiating a business case for Centenary Bank and a pilot project plan with Deutsche Bank/AATIF and Centenary Bank including a perspective for scaling up the use of mPEX technology with their SME clients.
Newsletter July 2017
(2017-07-18) Ten of our experienced SMEs have agreed to participate in our pilot project using the mPEX/TSS mobile app, with local banks providing working capital for their TSS operations.