Our Vision

Our Vision for Africa….

MOVING AWAY FROM MOBILE BANKING TO MOBILE MONEY. MOVING AFRICA TO A PAPERLESS MONEY SOCIETY

MOBILE PAYMENT, MOBILE MONEY AND MOBILE COMMERCE IN AFRICA.

The majority of the people in Africa approximately (70%) do not have a Bank Account. There are over 700 Million Mobile Phone Users in Africa thereby making the mobile platform the best way to reach people across Africa. 50% of the African population is under the age of 25 so we see our services remaining relevant for many decades to come. We see an exponential growth in Mobile activity over the next 5 years.


We aim to provide a payment solution to make life easier for people. In future we will extend the solution by CONVERTING THEIR MOBILE NUMBER INTO AN ACCOUNT number which will enable our customers to build up a good financial history so that they can also qualify for loans, Micro credit, Insurance and other essential services. It makes a lot of sense and it’s simple.


We are providing a low cost, high value, automated, integrated service that brings different service providers together onto ONE MOBILE PLATFORM. We aim to provide affordable services to the un-banked and under-served markets in both rural and urban areas thereby immediately bringing them into the mainstream economy and thus helping our country to grow.


People will be able to do almost any kind of transaction, access a range of financial services via our website and App and pay bills e.g. Pay for water, electricity, DSTV, TV license, top up phones, pay School and University fees, receive salaries, pensions, go to market and pay for items, pay for taxis, trotro (bus) etc. Tax and payment for other public services will be easier and simple for people to pay thereby increasing revenue collection from the Waakye seller on the road to traders in the market, artisans and those working with no fixed address. Governments in Africa will be able to access new capital for infrastructure and social development projects.


We are a social enterprise, we provide services to low income, no income and grassroots people because they form the majority of people in Africa. We want to move Africa forward by connecting our people through information and technology using the mobile platform.


SokoPay will help to increase capital flow between rural and urban areas, reduce poverty by bringing more people into the mainstream economy and increase entrepreneurial activity across the African continent and beyond.


Our social responsibility - We will donate a percentage of our profits to projects that support survivors of domestic violence and children in orphanages.


Roadmap - For now we will provide a Mobile Payment solution then move to Mobile Commerce in the last quarter of 2016.

A few facts about Africa

  • There are 54 countries and one “non-self governing territory”, the Western Sahara, in Africa.
  • Africa is the second most populous continent with about 1.3 billion people or 16% of the world’s population. Over 50% of Africans are under the age of 25.
  • Africa's landmass is greater than USA, China, India & Western Europe COMBINED.
  • Over 700 Million people do not have a bank account.
  • The continent’s population will more than double to 2.3 billion people by 2050.
  • Almost 60% of adults in Africa are literate.
  • Arabic is spoken by 170 million people on the continent, followed in popularity by English (130 million), Swahili (100), French (115), Berber (50), Hausa (50), Portuguese (20) and Spanish (10).
  • Over 25% all languages are spoken only in Africa with over 2,000 recognised languages spoken on the continent.
  • The Pharaonic civilization of ancient Egypt is one of the world’s oldest and longest-lasting civilizations. Africa gave the world the Greatest Golden civilization in human history.
  • African continent is the world’s oldest populated area.
  • Africa is the world’s poorest and most underdeveloped continent with a continental GDP that accounts for just 2.4% of global GDP.
  • There are fewer people with internet connections in Africa than there are in just New York City.
  • About 700 Million people have a “Mobile Phone”.
  • Africa is the richest continent on Earth.
  • Mobile penetration rate in Sub-Saharan Africa in 2013 is ~65%, up from under 5% in 2000.
  • Kenya's M-PESA mobile money system handles over US$ 21 million a day.
  • Africa is the world's second-fastest growing economic region after Asia.
  • 99% of all phones in Ghana are mobile phones vs. 1% fixed lines.
  • Nigeria has Africa's largest # of internet users (48 MM), followed by Egypt (29 MM) & Morocco (16 MM).
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