From Mali, where it has established a strong base, the startup wants to conquer other African countries. It has already taken initial steps in that regard by entering two additional countries. 

Sama Money is a fintech solution developed by a Malian eponymous start-up. It allows its users to send money anywhere in Mali at rates 60% cheaper than the competition. 

On its website, the fintech startup behind the solution explains that it aims to boost financial inclusion in Africa. For that purpose, it “developed an innovative and accessible system that offers not only very competitive rates but also a multi-channel solution that can be used with or without an Internet connection.” It also offers additional services that can be paid fee-free using the Sama e-wallet” 

The solution is accessible via a mobile app, available for Android and iOS devices. Once they sign up with a Sama account, users can access the various services offered, including money transfers and withdrawals, electricity and water bill payments, airtime top-ups, etc. 

It is worth noting that several institutions have adopted Sama Money for various payments, including Covid-19 financial assistance, scholarship, insurance, salaries, and pensions. It is also accessible via a USSD code, which allows rural communities with no access to the internet to use its services. 

According to PlayStore data, the Android version of its mobile app has already been downloaded more than 100,000 times. This year, the solution was scaled into Côte d’Ivoire and Burundi. It intends to enter more African markets. 

Adoni Conrad Quenum