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SmartMoney

For-profit financial services company providing mobile savings and payment services to unbanked rural communities in Uganda and Tanzania.

Details

Founded: 2010
Employees: 110
Quick Pitch:

Overview

SmartMoney introduces an innovative variation of mobile banking and mobile money targeting the unique market requirements of rural African communities. SmartMoney introduces to rural communities a FREE mobile savings and payment service subsidized by fee income from institutional customers such as agriculture companies, governments and NGOs. SmartMoney operates a proprietary mobile savings and payment platform accessible via GSM phones.

Management

Founder and CEO

Michael Spencer

Michael is an ex-Wall Street implementation manager and veteran entrepreneur focused on bringing innovative business solutions to social problems in the developing world. Michael has 25+ years experience leading large-scale ICT projects for Fortune 500 companies such as Goldman Sachs, Credit Suisse, Bank of New York, Lloyds of London and British Telecom.

Managing Partner

Michael Rothe

Michael Rothe is a financial inclusion specialist with comprehensive experience spanning the private and public sectors. Prior to joining SmartMoney, he worked as a resident Advisor to the Bank of Uganda (BOU) through GIZ’s Agricultural and Rural Finance Programme. Michael started his career at Citi Microfinance – Citigroup’s global industry specialist group supporting investments into microfinance institutions across the world.

Group Finance Director

Robert Matthews

Robert Matthews is a KPMG Trained Chartered Accountant originally from South Africa. He has 15+ years’ experience in financial control and leadership, with exposure to Telecoms; Technology and Financial Services. Robert has had extensive international & East African market exposure as a CFO for several international companies including some that concluded M&A transactions together with Tier 1 investment banks and Sub-Saharan private equity funds.

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