Wednesday, 12 December 2012

FINANCIALLY SPEAKING- M-CHANGA



The first time I saw this and read about it I was deeply interested because as a dancer and a choreographer I know how hard it can be to raise capital to start/setup a crew. I talked to Mr. Kyai Mullei who’s the CEO Of Mobichanga limited, a company that has made it easier to raise money with accountability and diligence.


NAME: Kyai Mullei

POSITION IN THE FIRM: CEO – MobiChanga Limited

WHAT IS M-CHANGA: M-Changa is a mobile SMS based platform that allows a fundraiser to start and manage a fundraiser from beginning to end all over SMS in a more efficient manner than ever before.

M-CHANGA LOGO


EXPLAIN TO ME HOW M-CHANGA WORKS: A user starts a fundraiser on M-Changa (fundraiser name and appeal message) and then gets a system generated invite to forward to their potential contributors. The contributors receive this message and joins by responding to the message. The fundraiser can then manage the fundraiser (communicate with contributors, accept payments and monitor their fundraiser) using keywords.

THIS IS OF COURSE A REVOLUTION BUT HOW CAN WE BE SURE YOU ARE NOT ONE OF THIS CON SCHEMES: M-Changa is compliant with all CCK and government regulations dealing with mobile money information services. We have very clear terms and conditions as itemized on our web site and FAQs

WHO OWNS M-CHANGA: MobiChanga Limited has three principal shareholders:
1)   Innovation 4 Africa
2)   David Mark
3)   KyaiMullei

HOW DIFFERENT IS M-CHANGA FROM OUR TRADITIONAL HARAMBEES: M-Changa works very closely to how traditional Harambees work, the sequences involved – how treasurers are appointed, how contributors are informed about progress. M-Changa aimed not to recreate the traditional Harambee but ENHANCE it but making all the normal procedures to raising money much more efficient.

HOW DO YOU ENSURE CREDIBILITY AND ACCOUNTABILITY ESPECIALLY FOR PEOPLE STARTING IT WITH THE NAME OF RAISING MONEY TO HELP A CERTAIN GROUP OF PEOPLE: M-Changa is compliant with all CCK and government regulations dealing with mobile money information services. We have very clear terms and conditions as itemized on our web site and FAQs. M-Changa has a robust customer service department, we make followup calls with all our users to ensure that any questions or problems they may have with regard to the platform are answered fully and comprehensively. M-Changa can be reached by phone Mon-Fri 8AM-4PM and by email 24 hours 7 days a week. Payments to M-Changa are accompanied by company receipt SMS that can be used to follow up payment transactions. Withdrawals from M-Changa can be made at any time and our a verage cash out time is currently 20min - 4 hours (in the case of multiple payment providers).

WHAT DO YOU NEED WHEN STARTING M-CHANGA: You need a phone with SMS capabilities and Mobile Money (MPESA, Airtel Money) account.

THIS BEING A DANCE BLOG, HOW USEFUL IS THIS SERVICE TO DANCERS: If your organizations has financial needs that can be met through donations by your organization members, friends, family, colleagues or well wishers then M-Changa is the product for you. It allows you to tap your contacts, and your contacts can tap theirs in order to maximize the number of people you can have in your fundraiser and help raise more money faster, cheaper and more securely. If any of the dancers have personal needs, like weddings or funerals, or need to raise money for dancing equipment etc, this platform can be used too!

ONE OF THE BIGGEST CHALLENGES DANCERS ARE FACING IS FINANCIAL LITERACY AND FINANCIAL MANAGEMENT. WOULD YOU PLEASE OFFER SOME GUIDE IN ACHIEVING THIS: Organizing Dance Crews and venues, taking to the road for shows and performances, getting the right equipment and outfits, paying for transport between venues are big challenges facing dance troupes. M-Changa would be the perfect tool to manage a long term fundraiser. Sometime it takes months to build up a big group of contributors, and M-Changa fundraisers can last indefinitely as long as there are small contributions (KES 100)  made at least once every 2 weeks. This way the fundraising party can slowly invite new contributors over time and build a formidable fundraiser. People can also contribute via facebook, google+, credit card and twitter if the fundraiser has requested these links, so social networks can be used over time to increase collections

WHAT IS THE MINIMUM CONTRIBUTION ONE CAN MAKE: The minimum contribution is KES 10

HOW DO YOU WITHDRAW THE MONEY CONTRIBUTED IN ONES ACCOUNT: At any time you can request withdrawal of the full amount in your fundraiser by sending the word CASH to 2231

FINAL WORD: Try us out – Kenyans fundraise all the time for almost every cause, don’t be left behind this is truly Fundraising – Easy - Mobile!
 


For more information M-Changa Website

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