British company bibimoney signs a joint venture with Smart Technologies Lda and Banco Oportunidade de Mozambique to celebrate the formation of bibimoney Mozambique:
Maputo, Tuesday 12 September 2017
On Tuesday 12 September in the presence of HE Mr Victor Gomes, Deputy Governor of the Central Bank of Mozambique, Alderman Dr Andrew Parmley, The Lord Mayor of the City of London and Her Excellency Jo Kuennsberg, British High Commissioner to Mozambique, bibimoney CEO Shiraz Jessa, Nurmomade Hassamo, Chairman of Smart Technologies Lda, and Pieter Van der Merwe, CEO of Banco Oportunidade Mocambique, signed the Memorandum of Understanding celebrating the creation of the Joint Venture of bibimoney Mozambique.
This exciting new joint venture will bring financial inclusion to millions of Mozambiquans, who currently remain outside the formal financial sector. Our ambition is to reach 800,000 financially excluded people in the first year, up to 5 million people in the first five years of the project establishing 10,000 agencies throughout the country creating the potential of thousands of jobs for young Mozambiquans.
Using our fully patented SIM-Skin and encrypted SMS technology, bibimoney is a fully interoperable mobile wallet service that functions on both feature phones and smart phones. It does not require access to data and is completely network independent. It will work on any phone, on any mobile network, anywhere. It overcomes all the problems of current mobile wallet providers. It doesn’t matter which network is used for mobile calls. There is no need to carry more than one phone. All the user needs is a mobile phone and a bibimoney SIM-Skin. It is simple, fast and inexpensive.
bibimoney promotes financial inclusion, incentivises job creation, particularly for women and young people, and significantly reduces inward remittance costs. We are well-positioned to help governments and NGOs reach their goals of delivering up to 50% of development aid to intended recipients by cash transfers, quickly and in the most cost-effective manner.
The fully-patented bibimoney SIM-Skin creates a mobile wallet that allows users to:
Every single new wallet customer has access to financial services and becomes financially included through our partner. Potential partners have all immediately realised the impact that bibimoney SIM-Skin technology could have for the creation of revenue streams, new service offerings for the population, as well as the benefits of increasing financial inclusion, employment and financial literacy.
We have established partnerships in Mozambique, Malawi, Zambia and Ethiopia. We are in the process of creating partnerships in 50 other countries from the South Pacific to South Africa. In addition, we are working with representatives of the UK Government, NGOs and the Universal Postal Union, bringing the potential of financial inclusion to hundreds of millions of unbanked customers around the world.
Commenting at the launch of this exciting new venture, bibimoney CEO Shiraz Jessa said:
"We are delighted to be signing this new agreement with Smart Technologies in the presence of His Excellency the (Deputy) Governor of the Central Bank and Alderman Dr Andrew Parmley, the Lord Mayor of London. Smart Technologies and our other local partners share our ambition of bringing financial inclusion to every citizen of Mozambique in the very near future. These are exciting times for our two companies and for Mozambique".