Best Ideas 2022 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Explain your idea in details:
Liyana is a platform that allows users to make a quick payments using a smartphone. This can be done by tapping your cell phone to a POS terminal By holding one's phone over the payment terminal and validating the purchase, one can pay fast with a mobile wallet. The majority of transactions can be performed in a matter of seconds. It can also be done by tapping your cell phone to another cell phone. Transfers from one wallet to another would be straightforward. Thirdly, a user can tap their account card to a cell phone. Any consumer with a debit or credit card would be able to scan and link their cards to the platform (no limit).
Expected impact of your idea on sustainable development
Individuals and businesses are expected to use cell phones to transact more and utilize cash less. The government will be relieved of the pressure to spend money to print the money that will circulate in the economy when demand for cash declines. Furthermore, the company's launch will result in a more competitive banking industry, leading in more innovative and less expensive financial solutions. This will result in more money products being available to the underbanked and unbanked. We also expect to collaborate with commercial banks to reach the mentioned unbanked individuals
Plans for implementation and sustainability
The idea is to build a brand and do it via social media networks. Liyana Inc will concentrate on Facebook because it's the most popular social media platform in Botswana. Botswana had over 1.2 million social media users as of January 2022. Impact networking will be a supplementary component of our marketing strategies. We will fund the initiative via personal money, venture capitalists, and angel investors.
Tlotlo Pilane is my name, and I am 23 years old. I'm a third-year Economics and Statistics student who is dissatisfied with the current state of financial products. I'm also hoping to profit financially from this opportunity by changing people's perceptions of the financial sector in Botswana.