We are on a mission to Stop the Reign of Cash in Africa and bridge the financial gap between the banked and unbanked so that everyone can digitally transact and access financial services without any hassle.
Cash is still King in Africa, with over 90% of financial transactions carried out in hard cash, particularly financial transactions between those with banking access (the Banked) and those without (the Unbanked). This problem is relatively down to the fact that over 350 million financially excluded adults in Africa live cash to cash without a bank account to transact digitally. This reliance on hard cash creates a significant financial gap between these populations. While cash might seem free at the point of transaction, the actual cost of getting the cash can be as high as about 7-10% of the transaction value. This cash commission fee is quite steep compared to electronic channels, where the overall transaction costs range from 0.1% to 1.6% of the transaction value. This needs to change.
We're solving this by using technology to build a radically inclusive and extremely affordable financial network that enables people to digitally send and receive money and access financial services regardless of the type of mobile device they use (i.e. smartphone or feature phone). In Nigeria, we've already launched our mobile app and USSD service, beginning our journey towards financial inclusion and empowerment for all."
Company Details
- Employees
- 4
- Address
- Lagos, Ng
- Industry
- Financial Services
- NAICS
-
Finance and InsuranceMonetary Authorities-Central Bank
- Website
- http://www.govahq.com
- Keywords
- Financial Access for All.
- HQ
- Lagos
Gova Hq Questions
Gova Hq's website is http://www.govahq.com
Gova Hq's LinkedIn profile is https://ng.linkedin.com/company/gova-hq
Gova Hq has
4 employees.
View email and phone details for 4
employees at Gova Hq.
Gova Hq's industry is
Financial Services
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Gova Hq's categories are Financial Services
