Towards Financial Inclusion-based Monetization Model for Startups Drive

Abstract

More and more, we see an increase in demonstrated interests on startups in Africa, with brilliant business ideas, massive startups germinating, striving to survive in a complex African context. Factors such as low network coverage, limited credit card usage are the major pitfalls rendering startups penetration and survival a dilemma. Telecoms have been the buttress of network penetration so far, with innovative technologies like mobile money services not fully utilized but which can provide a breakthrough to e-commerce penetration grapple, for startups success. This paper, therefore, investigates the state of startup activities, drawbacks and hence provide a breakthrough solution through model formulation involving active players, to awaken and redirect focus to tapping existing and available resources and technologies, facilitating penetration and startups propelling.