Innovation Grants - Grant Recipients
| Organisation | Pagatech Limited |
| Project | Transforming Lives Initiative: Providing high quality and affordable financial services such as basic savings account that includes credit and insurance features to the under-banked and unbanked population across Nigeria. The products will be delivered via non-bank channels including Paga’s agent network and electronic platform |
| Project Focus Areas | Branchless banking using mobile phones and agents |
| Grant Amount | US$ 2,000,000 |
| Date Awarded | January 2012 |
| Project Duration | 24 months |
| Organisation | Afripay Limited |
| Project | U-mo Savings Scheme: Using mobile phones and agents to promote savings culture, targeting the unbanked and under-banked customer segment in Nigeria |
| Project Focus Areas | Savings and Branchless Banking |
| Grant Amount | US$ 1,206,800 |
| Date Awarded | January 2012 |
| Project Duration | 24 months |
| Organisation | Hasal Microfinance Bank Limited |
| Project | Hasusu Savings Product: Providing the low-income rural population with a mechanism for saving through a daily collection process similar to the traditional savings association model, leveraging non-bank agents using Point of Collection (POC) devices. The product is targeted at the unbanked and under-banked population within the Abuja area, focusing on traders |
| Project Focus Areas | Savings |
| Grant Amount | US$ 500,000 |
| Date Awarded | January 2012 |
| Project Duration | 24 months |
| Organisation | Stanbic IBTC Bank |
| Project | Esusu: Alternative Branchless Banking Platform to extend financial services to the unbanked using Point of Collection (POC) devices & agents |
| Project Focus Areas | Savings & Branchless Banking |
| Grant Amount | US$ 1,500,000 |
| Date Awarded | December 2009 |
| Project Duration | 24 months |