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Innovation Solution Description
E-commerce solutions for unbanked rural communities.
Qualitative Results of the Innovation
1. Increase in Mobile Money Usage: Sprint Money has played a significant role in increasing the usage of mobile money in Zambia's border areas.
2. Increased Access to Credit: Sprint Money has made it easier for people in border areas to access credit. According to the company, more than 80% of its users have accessed credit through its platform. This has helped to boost entrepreneurship and economic growth in border areas.
3. Increase in Remittances: According to the company, 85% of its users in border areas use its platform to receive money from family and friends.
Quantitative Result of the Innovation
1. Over 70% of Sprint Money's users in border areas of Zambia are women, which indicates that the service is helping to increase financial inclusion among women in these areas.
2. Over 90% of Sprint Money's users in border areas of Zambia are using the service for the first time, indicating that the service is helping to reach underserved populations that have limited access to formal financial services.
Border Area
1. Chirundu - located on the border between Zambia and Zimbabwe
2. Nakonde - located on the border between Zambia and Tanzania
3. Kasumbalesa - located on the border between Zambia and the Democratic Republic of Congo (DRC)
4. Mwami - located on the border between Zambia and Malawi
Region
Southern Africa
Organization
Sprint Money
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