MoneyEnable* is a working intra-banking application that made its debut here in Cameroon. It is an Internet software that integrates local banks to consumers, micro-financiers, merchants, public and private sectors. It facilitates fast and efficient electronic transfer of funds. MoneyEnable is a pilot project of Cluster Bank Plc implemented among some of the local Cameroon micro financial institutions. It was in operations in 2010/11 that culminated with a total value of about USD2 million in transactions. It is now undergoing a revamp to incorporate latest ideas in the globalised economy such as serving the worldwide diaspora. This project by Wilfred Asah, after an executive discussion with Redhuan and Dr. Stanley, is now part of the Steve Jobs Project 2020 initiative under the KAfrica Foundation that aspires to create 3 Silicon Valley success stories by 2020. This project covers SevenColours of content using cyberspace community building in a Think Global, Act Local approach. They are:
- Digital Money
- Point of Sales software
- Enterprise Resource Planning software
- Call Centre
A first such application for Telephony is a proposed local GSM host grid that shall serve remote areas suffering from poor telephony connectivity. By embedding together this Digital Money e-banking solution, such a network will bring tremendous growth to those marginalised in the digital divide. The other content forms a strategic framework aimed at local context for tactical execution towards a sustainable eco-system. Been based out from Central Africa carries the many challenges such as poor infrastructure and absence of venture capital. However the wide disequilibrum with strong pull and push factors can ensure that such a startup can spring up more virally to create a critical mass that can help sustain the whole SevenColours programme
Note:1 MoneyEnable is coined by Redhuan as a rebranding exercise to productize Wilfred Asah’s work. It was formerly referred to as its company namesake, ClusterBank solution.