Monthly Revenue
$
0
Monthly Profit
$
0
Funding Required
$
0
Market Size
9800000
0
Problem Statement
Develop a mobile payment to serve individuals who do not have a bank account
Solution Statement
Introduce text payment solution
Customer Profile
Evaluation of Business with
SWOT ANALYSIS
Strengths
- Talented and experienced workforce
- Superior customer service
- Advanced technology and equipment
- Effective marketing and advertising strategies
Weakness
- Lack of expertise in certain areas
- Inefficient or outdated technology and equipment
- Weak brand recognition or image
- Limited distribution channels
Opportunity
- Development of new products or services
- Expansion into new markets or geographies
- Technological advancements
- Growing customer base or demographic shifts
Threats
- Intense competition
- Cybersecurity threats or data breaches
- Technological disruption
- Rapidly changing market trends or consumer preferences
Competitor Analysis
Mpesa
https://www.m-pesa.africa/
Competitive Advantage
- Prices are Fair
- Quality is Good
- Customer Services is Good
- Location is Excellent
Airtel Money
https://www.airtelkenya.com/about_money
Competitive Advantage
- Prices are Good
- Quality is Fair
- Customer Services are Fair
- Location is Excellent
Learn All About Our Key Members
Meet The Partners
CEO
Chief Executive Officer
CFO
Chief Financial Officer
CTO
Chief Technology Officer
Marketing Strategies
Our Marketing Channels Include Google Ads, Social Media Ads, YouTube Ads, Tv Commercial, Events
For 2-5 years, our growth plan will be to have SmartPay use an elaborate marketing approach that reaches the different audiences resident in Ethiopia and neighboring countries. These will include deploying targeted Google Ads and Social Media Ads to make sure that the digitally active users have our platform at the top of their minds whenever they have a need for a secure and convenient financial solution. Further complementing this, the YouTube Ads will be gripping, visual stories that will show how simple and dependable our services are virtually through favorite video content. Making an offline hub as well, robust offline presence will be made through TV commercials that shall ensure maximum awareness upon viewers within cities as well as villages.
Business Launch Strategy
We will adopt a phased strategy to launch our text-based mobile payment solution for unbanked people:
Phase 1: Pilot Testing
Pilot testing will begin in sub-regions of the target market, coupled with market research to fine-tune the user experience and assure the reliability of the system.
Phase 2: Awareness Campaign
An awareness campaign on Google, Social Media, TV, and YouTube Ads will then allow people to learn more about the convenience and security of the platform.
Phase 3: Partnerships and Community Engagement
We will forge connections with local business and the telecom providers; we will also engage in events to interact directly with communities in order to drive adoption.
Phase 4: Full Launch
Lastly, we will launch the solution countrywide in Ethiopia and expand it to neighboring countries while ensuring continued user education and support.
Financial Projections
Monthly Projections
Product Revenue
Monthly Revenue
No Data Found
Monthly Expense
Monthly Expense Breakdown
No Data Found
Monthly Revenue
$
0
Monthly Profit
$
0
Monthly Expense
$
0
Funding Required
$
0
Key Milestones
Launch the MVP
2025-01-07
Acquire first customers/users
2025-02-01
Secure a significant round of funding
2025-03-01
Scale the business
2025-04-01