We are implementing an AATIF financed project to expand Financial Inclusion in Africa’s Agricultural Sector with Centenary Bank.
We are developing a mobile phone application to link small/medium-scale sized enterprises in agriculture value chains with commercial banks.
With our mobile app small/medium-scale sized enterprises can open an account, agree a seasonal operational loan, track and share key business and financial data with the bank to guide timely loan repayments.
In addition we also provide a mentored peer exchange learning service through WhatsApp to support small/medium-scale sized enterprises use their mobile app effectively.
FAQ: What You Always Wanted to Know About The mPEX APP
WHAT IS AATIF? – The African Agricultural Trade and Investment Fund managed by Deutsche Bank in Germany, which is financing the project along with contributions from mPEX International and Centenary Bank.
WHO ARE MPEX’S PARTNERS? – On the technical side mPEX International is working with Software Group, a global software company with an African office in Nairobi. On the banking side mPEX International is working in partnership with Centenary Bank, the largest local bank operating in the Agricultural Sector.
WHO ARE OUR CLIENTS? – Our clients are small and medium-scale enterprises in the Agri-Food Sector.
WHAT DOES THE MOBILE APP DO? – With our mobile App you can open an account, plan and agree a seasonal operational loan, track your key business and financial performance with the bank to guide timely loan repayments.
HOW DOES THE MOBILE APP HELP SMES? – The Mobile App on your smartphone will help you enter and organize key business performance information, calculate loan and repayment schedules, track stock and sales to increase your efficiency, reduce your risks, and grow your business.
HOW DOES MPEX MAKE IT EASIER TO ACCESS FINANCE? – We digitalize the information the bank needs for you to open an account, request for a loan, and we share with the bank information (that you approve) on your business performance.
WILL THERE BE ADVICE AND HELP FOR THE SMES? – mPEX provides SMEs with a mentored peer exchange learning service through WhatsApp communities. We will also hold training for SMEs on financial management and how to use of the Mobile App to support their businesses.
SHOULD I ALREADY HAVE A CENTENARY BANK ACCOUNT? – It is not necessary for you to have a bank account to use the Mobile App. But you can use the Mobile App to open an account and access financing from Centenary Bank.
CAN I USE THE MOBILE APP IF I DON’T NEED A LOAN? – Yes the Mobile App can be used to help you to plan and track your business performance.
HOW CAN I JOIN MPEX? – You can contact mPEX through mobile at +256 757 204409, or email at firstname.lastname@example.org or via our website www.mpexinternational.com or via our Facebook page mPEX International. If you are in Kampala you can visit us at our offices in HBT Russell Hotel, Namanda Plaza, Russell Road, Central Kampala.
mPEX is developing a new Software-as-a-Service technology that combines mobile applications with mentored peer exchange learning services to enable small and medium scale agri-food processors access finance to grow their businesses and for commercial banks to grow their loan portfolios at lower operating costs and risks. Software Group, is our digital finance partner.
We are developing a mobile phone application to link small and medium sized enterprises in agriculture value chains with local commercial banks and micro-finance institutions. With our mobile app SMEs can open an account, agree a seasonal operational loan, track and share key business and financial data with the bank to guide timely loan repayments. To help them along we provide our SMEs with a mentored peer exchange learning service through their WhatsApp communities.
What we are trying to do in partnership with Centenary Bank in Uganda is maximise the opportunities that digitalization presents for saving everyone’s time, and making it easier for SMEs operating a long way from bank branches to access and manage credit. We want to show that transparency and collaboration between SMEs and banks that digitalization brings has the potential to increase everyone’s efficiency, reduce everyone’s risks and allow Centenary Bank to expand their work on financial inclusion to many more AgriFood enterprises in Uganda.
With our new technology client food processors and their agents among the farmers and urban vendors can bring the necessary security, transparency and collaboration to streamline value chains from small farmers to urban consumers and access finance to grow their business.
Our technologies enable our clients to access financial services by providing real-time data feeds to their finance provider. Data feeds not only reduce the bank’s operational costs in the processing and management of loans but also their risks. Savings that will enable finance providers to expand their portfolios in the Agri-Food sector.