MIT Solve

Solution Overview & Team Lead Details

Our Organization

Visionary Arc Company Limited

What is the name of your solution?

Bonga Pesa

Provide a one-line summary of your solution.

We are promoting the digital economic platform in Kenya

Film your elevator pitch.

What specific problem are you solving?

We are offering a new financial platform that will support the current one in form of Digital currency.

Due to the emergence of an online world, it is only prudent we have a digital economic platform.

What is your solution?

We are promoting the current digital currency available in Kenya, the most stable digital currency available is Safaricom.

With its customer retention system or customer loyalty system: Bonga Points, value for the each Bonga point can be calculated and transferred to other users .

Who does your solution serve, and in what ways will the solution impact their lives?

We are targeting the online users of the digital space: Gamers , Online workers and digital currency traders ; who want to convert money from credit to money, Loyalty points to cash.

The digital space is here to reduce the over crowded physical employment sector that has struggled due retrenchments after the current global financial recession

How are you and your team well-positioned to deliver this solution?

We have a valid registered patent on exchange of money from digital currency to cash.

We have a gaming tournament that is on going in Nairobi.

Which dimension of the Challenge does your solution most closely address?

Provide new ways to accurately assess credit-worthiness of MSMEs and individuals, including methods that reduce bias against borrowers who have traditionally lacked equitable access to credit

In what city, town, or region is your solution team headquartered?

Mombasa

In what country is your solution team headquartered?

Kenya

What is your solution’s stage of development?

Prototype: A venture or organization building and testing its product, service, or business model, but which is not yet serving anyone

Please share details about what makes your solution a Prototype rather than a Concept.

We are currently in talks with a Company that has an existing Patent for digital money transfer.

How many people does your solution currently serve?

More than 20 million people ; this being registered subscribers for Safaricom

Why are you applying to Solve?

Exposure of Idea
Legal Support
Financial Support

In which of the following areas do you most need partners or support?

Financial (e.g. accounting practices, pitching to investors)
Human Capital (e.g. sourcing talent, board development)
Legal or Regulatory Matters
Product / Service Distribution (e.g. delivery, logistics, expanding client base)
Public Relations (e.g. branding/marketing strategy, social and global media)
Technology (e.g. software or hardware, web development/design)

Who is the Team Lead for your solution?

Archiebold Songoro Manasseh

Your Team

Your Business Model & Funding