Our team has 2 products personnels and one developer .
Ice cream - Wikipedia
Event Management – Bjs Enterprises
E-Moments is a multi business company with 4 business lines as which include; - PesaJet, a payments app for businesses, events and schools. - Events Management - - E- Magazine - E-cream which is your home for pastries and desserts
Your Fastest Payment Solution
PesaJet is a payments business app which provides financial and technology backed services primarily accessible through mobile in emerging nations. We strive to be leaders in integration of mobile, digital and finance solutions to empower Africa’s present and future generation delivering world-class finance and technology driven solutions to Africa
PesaJet offers Technology and financing solutions for Education, Health, Agriculture and Utilities.
SCHOOL FEES CHALLENGE
School Fees Challenge
UGANDA has the highest school dropout rate in East Africa, according to a report released by the United Nations Educational, Scientific and Cultural Organization (UNESCO). In 2010 New vision reported that only 444,019 pupils sat for the Primary Leaving Examination out of the 890,997 who enrolled in 2003. Thus a total of 446,978 either dropped out or repeated a class. Half of the households with children who have dropped out of school cite lack of money as the main problem. 53 percent of families report having their children sent home because they are not able to pay school fees” Private schools often charge fees that are out of reach for most Ugandans,
School fees payment challenge has been and still continues to be a big education obstacle that has barred many potential engineers, lawyers, doctors etc. from realizing their dreams in 3 rd world countries as indicated in the above reports. Many times money is not available at beginning of term and therefore reporting to school without school fees means that the child will be sent back home during the school term to collect school fees payment. Parents have to go through extra stress and several times embracement to borrow money to pay school fees. Children loose schooling days when they are sent back home as thus even when they pay all the school fees finally, they never get the full value having been sent back home for some days during the school term. Schools are challenged to meet teachers’ salaries and feed the children before school fees are paid. Without a good cash flow, schools are not able to meet this obligation efficiently.
SCHOOL ADVANCE SOLUTION
“School Advance” Solution continue…..
“ School Advance” is a school fees challenge solution where we pay school fees for the registered children in form of a loan that parents will then pay back in installments during the course of the term. This process will enable children attend school with full guarantee that all their school fees are paid in good time and will never be sent back home due to school fees. As such parents are relieved of the school fees pressure/frustrations that they always experience as school terms commence. Children are enabled to attend a full term without missing out any school activities which usually is the case when they are sent back home to collect the remaining part of the school fees. With full school fees payments made in time, schools are able to plan and budget well. The players in the “School Advance” School Lifecycle include, Parent, Child, School, Education Partners (NGO) and Digital Financial Service Providers(DFSP), Insurance.
Why “School Advance”? School Advance is a lend with a purpose service. We make sure that money serves the purpose for which it was intended for by making payments directly to schools. Interoperability element; we are working on ensuring that our clients can easily make payments regardless of which DFSP they belong to. We have designed a product for the last mile man based on L1p,such as low costs, price transparency, real time fund transfer, Open-Loop system among others. Our service fees are relatively low compared to other creditors and financial institutions.
Projections Class Category 1 Term Subscription Fee Service Fee Total per term 3 Terms Weekly Montly Students Subscription Fee Year Service Fee Year Fees Paid Per Year A 1,750,000 2,000 87,500 1,839,500 5,518,500 107,885 459,875 200 1,200,000 52,500,000 1,103,700,000 B 1,250,000 2,000 62,500 1,314,500 3,943,500 75,837 328,625 500 3,000,000 93,750,000 1,971,750,000 C 875,000 2,000 43,750 920,750 2,762,250 53,120 230,188 1,000 6,000,000 131,250,000 2,762,250,000 D 625,000 2,000 31,250 658,250 1,974,750 37,976 164,563 2,000 12,000,000 187,500,000 3,949,500,000 E 312,500 2,000 15,625 330,125 990,375 19,046 82,531 4,000 24,000,000 187,500,000 3,961,500,000 F 156,250 2,000 7,813 166,063 498,188 9,581 41,516 8,000 48,000,000 187,500,000 3,985,500,000 G 78,125 2,000 3,906 84,031 252,094 4,848 21,008 10,000 60,000,000 117,187,500 2,520,937,500 25,700 154,200,000 957,187,500 20,255,137,500
Sample of the Figure Projection
Our business case figure projection explained…… Class category shows school fees categories ranging from highest to lowest to help us in assigning charges which are subscription fee and service fee For example A is a category for children in expensive schools and we are assuming that these will be few because most parents in Uganda can’t afford such schools that’s why we have projected the numbers at 200. As the table descends the school fees amounts decrease and as school fees amounts drop, the number of children increase. For example class G has the lowest school fees amount and the highest number of children . We charge a common subscription fee of 2000 which is relatively low and we assume that it is generally affordable by our target market(parents and guardians) because we are developing a solution for the last mile man. We expect the parents to pay back in weekly or monthly installments in the course of the term we are making money off the subscription fee and service fee.
Assumptions and Constraints
This service will only be available to active mobile money subscribers and bank account holders. Terms and conditions should be communicated to customer. The customer must agree to legal terms and disclaimers as a consent agreement to these terms. “School Advance” needs to have a service provider account in the mobile money platform “School Advance” will validate the information and KYC information of the customer. Any disputed transactions will be managed by “School Advance” with the support of impacted partners. We are hoping to partner with willing NGOs to help fund the incapable parents and also provide the less privileged students especially girls with basic scholastic Materials. “School Advance” needs to partner with Insurance company to cover any risks that we may encounter. A parent accesses “School Fees Help” on condition that they are paying full school fees amount .
Target Audience and Scope
Mass market; Parents and guardians Scope Primary schools Secondary schools Universities/institutions NB: We shall pilot with Primary schools first, with pupils in p.6 and p.7 and we will expand further to secondary and universities/institutions as time goes on.
Principle Name Description RAG Open-Loop system An open-loop system, available to any licensed DFSP in the country. This includes banks and licensed non-banks. System has the objective of encouraging all qualified participants to join. Real time funds transfer Payments that are real-time and “push” only. The system should make funds available to the payee in near-real time, providing immediate notification of payment from the payer to the payee Pricing transparency All fees charged to end-users are displayed prior to transaction execution and the paying Low cost user devices All primary functions should be accessible to users with inexpensive basic/feature phones Irrevocability The system should not specially manage transaction reversal by the originating party nor specify situations in which the liability for a transaction is passed from one participant to another . End user fees Fees to end users (individuals, merchants, billers, etc..) should be very low, possibly zero, User Interface Design The user interface (UI) is simple and intuitive for a user; the UI is designed to prevent user Notification Notification of account activities sent immediately, only from user DFSP, and controllable by PesaJet
PesaJet with Level One Principles
Africa′s Mobile Gender Gap: Millions of African women still offline | Africa | DW | 09.08.2019
Women/young ladies are our priority number 1 when hiring. For the women we are giving them a low service fee percentage to enable them afford this service Men – 5% Women -3% Special consideration is also made for single mothers. We are also giving the women some school items like pens books , sets to give to their children either in form of mobile money or physical items.
Women Empowerment continued…….
PesaJet with Mojaloop
One of the features that makes PesaJet unique is its interoperability element. We have designed a solution that will enable our users to easily and conveniently transact without worrying about which DFSP they belong to and also at low cost. With Mojaloop account look up feature, this will be made possible thereby enabling us to realize our drive for a cashless economy. Mojaloop Quoting enables price transparency whereby a user is notified of how much the transaction is going to cost them, so they are able to decide whether to continue or cancel the process. Our users don’t need to worry about the auditing, because Mojaloop does the debiting and crediting for them and notifies them of the transfer of settlement.
Terms and Conditions
One must hold an active mobile money account or bank account The customer must agree to legal terms and disclaimers as well must enter the mobile money PIN as a consent agreement to these terms. “School Assurance” will validate the information and KYC information of the customer. Certain parts of our application may require an account before you can access them. A User may not create an Account if they are under Eighteen (18) years of age When creating an Account, the information a User provides must be true, accurate and complete. it is the User's responsibility to ensure that the Account is kept up-to-date. Confidentiality Transaction range and charges Duration of agreement Creating an account with PesaJet Dispute resolution Suspension and termination Prohibited behavior
Technologies API programming Java/Android
Channels USSD APP SMS
Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Level 7 Message Service API Required Unregistered Subscriber to M-Fees Menu M-Fees T&C 1: Accept 2: Decline Enter Mobile Money PIN Congratulations you have successfully registered with M-Fees. Service registration Get Customer KYC information Preapproval/Enable AutoDebit Debit Subscription Fees Response 1 12345 Registered subscriber Menu Select (M-Fees) 1.School Fees 2.Other Select 1. Collect Fees 2. Subscribe Child 3. Fees Status Enter Amount Your are deposting 10,000 school fees 1. Confirm 2. Cancel Enter your Mobile Money PIN to confirm You have collected $Fees_Collected added to your M-Fees Account. Debit Account + SMS Send Response 1 1 2 1 12345 Menu Select (M-Fees) 1.School fees 2.Other Select 1. Collect Fees 2. Subscribe Child 3. Fees Status Enter School ID Enter Child ID Enter Child Fees Amount (Per Term/Year) Enter your Mobile Money PIN to confirm (Fees for Child_ID, School ID, Category) You have subscribed for the Child $Child_ID at School $School_ID for the Year. Collect $Amount for the Child's full fees for the Year Debit Account + SMS Send Response 1 2 12345 Menu Select (M-Fees) 1.School fees 2.Other Select 1. Collect Fees 2. Subscribe Child 3. Fees Status Enter your Mobile Money PIN to confirm. You have collected $Fees_Collected You have $Fees_Due Message Request + SMS SDP Response 1 3 12345
OUR USSD MENU
Our Marketing ps . 1. Product – We offer services which include; payments, business services and loans. 2 . Price – Our subscription fee is 2000/= and the service fee depends on how much fees you have been loaned. 3.Place – We can be accessed via the USSD and Mobile app for now. 4.Promotion – This is done on social Media, going directly to schools, putting up banners and word of mouth. 5.People- Our people are the end users and less privileged women and girls. 6.Pro cess- Our USSD menu process is very simple and easy to use by anyone. 7.Physical evidence- Through physical promotion of items as masks , t-shirts etc.
Our Minimum Viable Product
Our minimum viable product ( MVP ) is a product with just enough features to satisfy early customers and provide feedback for future product .
What is our Minimum Viable Product ?
Our MVP challenge
Many times money is not available at beginning of term and therefore reporting to school without school fees means that the child will be sent back home during the school term to collect school fees payment. Parents have to go through extra stress and several times embracement to borrow money to pay school fees. Children loose schooling days when they are sent back home as thus even when they pay all the school fees finally, they never get the full value having been sent back home for some days during the school term. Schools are challenged to meet teachers’ salaries and feed the children before school fees are paid. Without a good cash flow, schools are not able to meet this obligation efficiently.
Our MVP is school advance.
With the product parents can pay their children’s fees in full and pay the money back later in installments . And this works on the level one principle of real time fund transfers because we pay the fees in real time. Who do we pay the fees to ; We pay the fees exactly to the school and not to the parents to avoid wastage of money. The parents pay us back through monthly and weekly installments. A part from this school advances also acts as a payments gateway.
How do we ensure that parents pay us back; By making agreements with schools. By taking their ID cards And ensuring that they don’t get children’s report
Mojaloop Adaption To MVP
In Uganda, parents still pay school fees in banks and at schools over the counter beneath the existence of digital wallets and mobile money. At the end of the day, the school and parents usually have accounts even in the same DFSPs. With the same accounts of day to day transactions, they are bound to follow the preferred medium of transaction offered by the school. With School Advance using mojaloop , parents need not worry about the different accounts they use from the schools' choice of preference because the application will engage the account lookup service to identify the accounts between the payee and the payer. Then a quote will be made to indicate the amount of exchange then the settlement of transactions and notifications follow after the audit of the two accounts. This will ensure low costs of exchange, same-day settlement of funds and reduce frauds as is the situation at the time with over the counter transactions.
How do we ensure that parents pay back?
We arrange with the school and make sure that the parent first clears the previous debt before paying for the current term or otherwise once the school has agreed to make it compulsory for the parents to pay school fees through PesaJet, then we can automatically deduct the balance. We can collect National IDs/Land tittle from the parents as a form of insurance
Our Finance Strategy How much have we invested in; Time – 12days Each hour = 15000/= 12*24=288 288*15000=4,320,000 Money invested in time= 4320000/= Payments for the designer – 1.2M Payment for team – 14M*2=168M 2M for each team member (7 members;2 business personels 2 marketers 2 developers ) Capital input for now – 100M In total that is 272,320,000/=
Select pay school fees
Pay with personal account
PesaJet Prototype continued……
Pay with School Fees Help
Agree to terms & Conditions
School Advance Data Model
Schools id schtnlnamc Add field First name SecondName phonenumber ParentsID email password binary string integer string string integer integer integer string varchar(255) Students id Firstname Secondname studentsid school parent Add_field FeesTransaction integer string string integer integer integer Time P id term Add_ficld integer integer id loan integer integer totalfcescxp«tcd integer parent termpaid "Add field integer integer
E-Moments Mind Map
PesaJet User Flow Diagram
PesaJet Security Architecture
Questions still pending
How do we ensure that we get paid back? What is our insurance? Do we agree with both the parent and school at the same time making agreement not to give final documents without clearance? What is our source of finance? Some parents don’t have a stable source of income, how do we ensure payback from them? There are other lending services, what makes us different/unique?