PesaMonitor Use Case Scenarios

PesaMonitor is a web- and mobile-based financial technology (FinTech) application. It helps businesses to improve their productivity and economic growth through enhanced transparency and accountability in their business activities, stock movement, and financial transactions. Below are some examples of how PesaMonitor can help to scale local and cross-border businesses by improving transparency and accountability across financial transactions and other business activities. The transparency and accountability (i.e., good governance over financial and other business resources) help to potentially enhance efficiencies in business operations as well as improve revenues and profitability. We propose the following key users to illustrate the potential usefulness and value-added by PesaMonitor in scaling up their businesses:

Banks and other lenders
Governments and donors/non-governmental organizations (NGOs)
Diaspora members (as individuals and/or communities)
Economic loops of supply and value chain actors (e.g., producers like cooperatives and other formal/informal business teams/groups, manufacturers, lenders/creditors, suppliers, and buyers).

Banks and Other Lenders

Banks and other lenders make money selling financial products like loans. The buyers (borrowers) of these products must meet the lenders' minimum requirements, which include a reasonably good track record of business performance and a certain amount of acceptable (“bankable”) collateral. The requirements are designed to reduce the risk of non-recoverability losses associated with this lending. But the banking sector has found it difficult to turn a sizeable portion of economic players into lucrative borrowers for the simple reason that these prospective clients don't match these requirements (i.e., they don't have significant collateral assets and a legitimate business history or track record). PesaMonitor hereby fills this void. How? PesaMonitor can be used by banks and lenders to digitise the prospective borrowers' business and financial data. Banks and lenders would make better decisions with the use of these digital data, reducing the risks involved in lending. In this regard, using PesaMonitor would improve businesses transparency and accountability by facilitating the proper distribution and utilisation of borrowed cash. Therefore, via increased sales and profitability, this improved governance of financial and other resources may promote business success. By increasing the likelihood that borrowers would pay back borrowed cash, PesaMonitor turns them into valuable clients for these banks and lending institutions.

Governments and Donors/NGOs

Goal 17 of the 2030 United Nations Sustainable Development Goals (UN-SDGs) stresses the need for global governments, donors, and NGOs to fight poverty and achieve economic growth and sustainable development. This goal is to be achieved through such mechanisms as using technology to enhance access, appropriate usage, management, and reporting (i.e., good governance) of financial and other related resources. This includes transparency and accountability measures that ensure appropriate usage of accessed financial resources. Potential beneficiaries of these financial resources are disadvantaged entrepreneurial groups in society who fail to meet borrowing criteria set by commercial banks. In most countries, these disadvantaged groups include women, youth, and people with disabilities. Despite these good intentions to help the disadvantaged entrepreneurs, success has been limited. These failures have mainly been due to the lack of and/or inadequacies in transparency and accountability (i.e., lack of good governance) in the management of the accessed financial resources. Therefore, PesaMonitor stands to address this problem by providing the technological means to ensure transparency and accountability in the financial transactions and business activities of these beneficiaries of governments’, donors’, and NGOs’ funding. As such, PesaMonitor ensures the appropriate usage of the provided funds, thus limiting potential funds misuses, misallocation, and losses. In turn, this improves the chances of achieving profitability, loan repayments, and the intended development impacts. In the medium- to long-term, the use of PesaMonitor would gradually enable these disadvantaged entrepreneurs to graduate from the governments/donors/NGOs subsidised financing to the more resourceful funding by commercial banks and other business lenders.

Diaspora Business Management

A structured approach to managing diaspora funds and business operations.

Diaspora members open business bank accounts (or even mobile money wallets) in their home countries and ask those home banks (e.g., in India, Philippines, Bangladesh, Pakistan, Mexico, Tanzania, Kenya, Egypt, Nigeria, etc) to automatically send text message notifications to their mobile phone numbers used in host countries (e.g., in UK, EU, US, UAE, etc) for every transaction happening on their bank account (deposit or withdrawal).s
Have a second local co-signatory to that bank account. This is ideally the person entrusted by the diaspora member to manage the business locally while the diaspora member stays abroad to work and generate more income. The diaspora member sets and advises the local bank about the maximum amount of funds this business manager can withdraw per day (24 hrs). This could be $100.00 or $200.00, etc. in equivalent local currency depending on the nature of the business being managed.
The diaspora member downloads PesaMonitor App on their smart mobile phone as Team/Group Leader, completes all necessary settings on the app including adding the local co-signatory as Member who should also have downloaded the App on their smart mobile phones (note that some settings on the App may require support or guidance from PesaMonitor Admin Team, contact them at EMTBZA.PESAMONITOR@TABCOGB.COM).
The diaspora member transfers money from abroad (i.e., remittances) to the local joint account. On arrival, the local bank generates an automatic text message and sends it into the mobile phone of the diaspora member who is abroad. At this point, PesaMonitor App helps to instantly capture and share a copy this message on the App such that the local co-signatory automatically accesses this information.
The diaspora member and the co-signatory can use PesaMonitor messaging platform to communicate about how the money is to be used.
From time to time, the co-signatory (i.e., trusted business manager) can use PesaMonitor platform to take photos of documentary evidence for receipts and expenses and share the same with the diaspora member (i.e., Team/Group Leader). This creates a sense of transpratency and accountability, thus assuring the diaspora member that their funds are being put to appropriate usage, followed by the recording of all these transactions on the PesaMonitor App cashbook.
A system should be established by the diaspora member to ensure that the co-signatory accounts for every money spent before making the next cash withdrawal from bank, or before another remittance/funds transfer is made.
If the co-signatory withdraws money before posting previous expenditures on PesaMonitor cashbook, the diaspora member can call the local bank to block the co-signatory from accessing the funds in the account until further notice. This feature on PesaMonitor helps the diaspora member to minimise business losses that could potentially arise from the co-signatory’s freedom to access and misuse the business funds in the account.
For large expenditures (e.g., purchase of huge building materials, or a consignment of high value export items, etc.), the diaspora members can directly transfer these huge sums to these potential suppliers. These suppliers should first be given membership on PesaMonitor to enable direct multiparty communication and sharing of photo or text evidence of implemented business activities and financial transactions.
For export consignments or other items involving various actors on a typical supply chain, text message updates about the status of ownership along the supply chain should be sent to the same mobile number of the diaspora member (e.g., if a diaspora member living in the UK sent funds in their home country Tanzania to buy, say, a consignment of fish for importation and resale into the UK). Here, the suppliers of fish (say Tanzania Fishers) would first be added on PesaMonitor as members. After quality checks and price negotiation, fishers would have to post evidence on PesaMonitor platform for local quality clearance and shipper documents before the diaspora member would transfer the final price amount to the fishers’ bank account. The shipper’s systems should also send a text message or email notification to the diaspora member to confirm that they have in their custody the diaspora member’s fish consignment delivered to them by the Tanzanian fishers. At the port of entry into the UK, the shipper could advise the diaspora member via text message or email about the arrival of the fish consignment in the UK waters or the UK destination port. All these details are shared on PesaMonitor and seen by all actors in the supply chain, hence promoting business growth and limiting potential losses through enhanced transparency and accountability in business activities and financial transactions.
This way, PesaMonitor ensures that diaspora members (i.e., investors) have control over the appropriate usage of their money as originally intended and expected. Therefore, PesaMonitor strives to potentially maximise value for money on every dollar and pound in diaspora members’ remittances and investment funds.

Connecting Supply and Value Chain Economic Actors

PesaMonitor features enable the creation, maintenance, and growth of synergistic loops...

Transparency of financial/business transactions.
Researching the market for 3 to 5 credible and trustworthy suppliers of specified heavy-duty deep freezer and tentative prices.
Obtaining 2 to 3 potential buyers of the quality fish resulting from the acquisition of the specified deep freezer.
Fish sales proceeds from the buyers to be transferred directly into the loan account maintained at the banker/lender to enable swift deductions of periodic loan repayment instalments.

To begin this process, the fishers download PesaMonitor App on their group smart phone, and get all fishers registered as members.

Until now, all fishers (leaders and members), the banker/lender, and the supplier of the deep freezer can see on PesaMonitor platform...

PesaMonitor brings transparency and accountability to the above economic transactions when the proposed entities operate domestically and internationally.

We’re Here & Happy to Help

Having presented the above use cases, our PesaMonitor team is eager to learn more with you about the potential of PesaMonitor to improve and grow your business.

For more details, contact PesaMonitor Admin Team at EMTBZA.PESAMONITOR@TABCOGB.COM