Therefore, women who have been excluded from formal financial services will be able to save, invest, and access loans from the convenience of their own phones – even if they live miles away from a bank.
KEIPhone helps the underserved women in Africa by providing them with smartphones at no cost. Through this partnership, every phone distributed by KEIPhone will be pre-installed with the DreamSave app from DreamStart Labs – a fintech app that makes it easy for unbanked people to save money, access loans, and achieve financial goals.
The free fintech-enabled smartphones will be made possible through an advertising-based revenue model. Women receiving the free phones will view ads with relevant content targeted specifically to their unique needs. Key ad focus areas will include mobile money services to help female entrepreneurs improve their small businesses, agricultural innovations to help farming communities increase profits, and pay-as-you-go solar products to improve access to affordable clean energy.
The partnership will initially target 10,000 women in rural Uganda with expansion to other African countries planned for later in 2022. Distribution and training will be conducted in partnership with NGOs and international development partners.
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