Tech

Payment solution fintech, LemFi launches diaspora remittance services in Kenya

Published

2 years ago

June 9, 2023

Cross-border payment solution platform, LemFi has launched its diaspora remittance services in Kenya in a bid to enable citizens send and receive money back home.

The fintech which formally launched its services in the east African country on Friday, said it entered the Kenyan market through a partnership with PesaSwap, a local online and mobile payment solutions company based in Nairobi and the United Kingdom.

The company said it hoped to get a share of the diaspora remittance market which currently stood at Sh44.1 billion ($320.3 million) in April, according to data from the Central Bank of Kenya.

LemFi Country Manager, Kakea Mbacha said the app provided a Kenya Shillings wallet setup with which customers could open and fund their accounts via mobile money.

“Using the LemFi app, customers in the United Kingdom, United States and Canada who remain the largest source of remittances to Kenya, can send funds directly into a bank and mobile money accounts at zero fees,” he said.

“When Africans leave their countries to work, study or live abroad, they still maintain family, business and friendship connections back home.

“These connections are often maintained through communication and the need for effective ways to send and receive items and money from home.

“It is for this reason that LemFi exists. Our services will not attract any fees as we strive to ensure that Kenyans in the diaspora can send money home instantly, at the best rates. This is the brand’s promise,” Mbacha said.

The LemFi app also supports the use of multiple currencies through various wallets that customers can open and deposit money in different accounts, he explained.

“Once open, the customer can easily change their Kenya Shillings to other currencies like USD, GBP & CAD depending on their transactions.

“LemFi says it’s targeting over 500,000 Kenyans living outside the country, with the United States, United Kingdom and Canada being among the most popular destinations.”

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

13 hours ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

2 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation