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Michael Kimani @pesa_africa
, 3 tweets, 1 min read Read on Twitter
M-Kopa’s fintech lenders website states that, “After completing payments, customers own the product outright.”137 However, the customer does not own their data. 1/
"The terms and conditions of a M-Kopa loan make the company’s position on data clear: “M-KOPA shall have absolute and sole ownership of ... the data which is obtained by the Customer’s use of the Device.” 2/
"Customers have no right to even see their own data, apart from the provisions under Credit Reference Bureau rules139." 3/
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Looking at Kenya's Capital market transition from paper share certificates to > immobilized electronic record form to > de-materialized form housed by the Central Depository Service Corporation (CDSC) has some lesson for transition physical records and assets to blockchain 1/
First here is a list of Financial Intermediaries in Kenya's Capital Markets /2
Second, here is a list of participants involved in the Clearance and Settlement of Securities in Kenya 3/
Read 20 tweets
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People forget that the next generation of mama mbogas and boda boda people and taxi drivers and the whole of informal sector will be educated upto college/university level.

They'll be digital natives.
They'll be exposed to global trends 1/
The early signs of this shift are evident now

Young graduates leaving school and straight into informal sector

Formal employees quitting 9-5 jobs to go into biashara

For example Met a lady who quit her job to sell bags from mitumba via social media. 2/
In the near future matatu touts will be educated, on the same platforms as everyone else (fb, whatsapp, mobile phone, mpesa, Instagram)

Nairobi's street hawkers will be educated too and on the same platforms as you and I

Why does this matter ? /3
Read 15 tweets
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Here is a useful stack to think about blockchain/DLT/ "whatever you want to call it"

layer 1 - 4 : all the technical stuff for devs
layer 5: governance
layer 6 & 7 : what average person calls "use cases"

source: Financial Cryptography in 7 Layers by Ian Grigg 1998 1/
Right no, a lot of the activity is at the bottom layers 1 - 4

these are the chain wars POW vs POS vs DPOS vs "whatever else"
these are the "private" vs "public" / permissioned vs permissionless
these are the Bitcoin vs Bitcoin cash/ Ethereum vs EOS

technical jargon area 2/
Right now layer 5 is becoming a hot topic

How do we resolve issues that have nothing to do with logic? eg threat of theft or abuse exists from parties who are trusted to manage the system.? This problem can be overcome with a wide variety of techniques ie governance /3
Read 7 tweets

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FinTech Wave 1 (08-18) is ending, and Wave 2 (18-> ) is starting. Exciting times ahead. More innovation likely in the next 10 yrs than the previous 80 yrs. I’ve been writing about big shifts, trends, & strategy. So wrapping 2018 with a thread of some selected tweets/posts. (1/n)
2) China is the "FinTech capital of the world.” : - 700M+ mpay users, pymts vol > $15Tn, Alt-lend ~$300bn+. I spent 2016-17 in 🇨🇳 with a ringside view of the size/scale/on-ground realities for the biggest FinTechs. Here’s a long ( 60+ articles) thread:
3) During 2018, the shakeout in China’s $192 B peer-to-peer (P2P) lending industry accelerated at a rapid clip. In many ways, this regulatory crackdown is a step in the right direction towards industry standardization/clean-up. Long thread:
Read 13 tweets
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Thread: FinancialServices Access
This has been a persistent subject as a market opportunity since I started at @MasterCard in 2001. Then @Citi & @AmericanExpress. Legacy financial services & #payments #technology were simply insufficient to service those markets economically.
1/5
Recently, companies like mPesa (Africa) showed that this can be done. Especially, in countries where you're building a completely new infrastructure, not relying on (or mandated to integrate with) legacy payment systems. Those carry onerous compliance & processing costs.
2/5
With almost full smartphone saturation, some #fintech players like Simple, even @Square's Cash & @Paypal's @Venmo apps, are able to get to more people. Others like Green Dot prepaid & payday lenders go deeper into servicing this population, but at controversially high fees.
3/5
Read 5 tweets
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1/n: LENDING (business) IS NOT A FEATURE.

And yes, distribution of lending/credit products is a ‘feature’ in some platforms/products.

Lending (CREDIT) is a business with many complex moving parts.

#long #fintech #thread #lending
2/n: In fact “Lending (Credit) is older than money and FinTech.” (medium.com/@gaurav.sharma…)

There’re lot of tweets (within the FinTech community in India) about Whether 'lending is a feature' or not? So, let’s unpack that a bit..
3/n: True definition of Lender = Lending Money from own balance-sheet (i.e. skin in the game). The primary revenue here is Interest Income (Net Revenue from Funds), and margins computed basis NIM (Net Interest Margin) and COF (Cost of Funds).
Read 24 tweets
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001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
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Spent an evening discussing #Fintech in general and Chinese mobile payments in particular. Fascinating subject. This piece covers it in detail: knowledge.wharton.upenn.edu/article/how-wi….
Some excerpts:
- Mobile payments went from 1.2 trillion yuan in 2013 to to 58.8 in 2016.
- Alibaba and Tencent hold a combined market share of 92%.
- Alibaba accounts for >70% of all e-commerce transactions in China.
- Mobile penetration in China is 97%, of which 58% own smartphones.
- According to a 2016 survey, 98% of Chinese had used mobile payments, vs 6% in Japan and the US.
- In 2017 Alipay had about 800 million users in Asia (520 in China).
Read 5 tweets
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Welcome to the #Metpolice

justlivewithit.co.uk/metpolice/blog…

#skynews #TargetedIndividual #bbcnews #coverup #c4news #worldnews #euronews #conspiracy #news #ukgov #theresamay #LBC
It's a criminal offence to falsifying a legal instrument. But if the #MetPolice / #LBRUT do it, then there is not even an investigation. 12 years of silence. Evidence to prove it - ukcoverup.com/search-warrant-

#skynews #lbc #theresamay #uk #bbcnews #coverup #c4news #worldnews #ukgov
Welcome to the #Metpolice who also changed & falsified my arrest details. Have a look at the evidence here ukcoverup.com/arrest-details as it's all easy to prove & that's why it's never addressed

#R4today #corruption #coverup #leadership #values #corevalues #bbcnews #skynews #itvnews
Read 97 tweets

Trending hashtags

#Hintze #ScotlandYard #DevOps #waitrose #highcourt #UKLaw #Independent #bailiffs #Googlehearing #DailyTelegraph #bbcnews #radio5live #worldnews #global #Halifax #legal #tobacco #FollowTheMoney #dailyexpress #crowdfunding #appeal #socialwelfare #ChequersPlan #ukgovernment #prices

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