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Module 2 Business Idea
Mobile phone cash transaction application
Area of use: Selected African countries within a
common market e.g COMESA Region (Africa
Projected Market & Demographics
• Adult mobile phone users in the countries of
the Common Market of East and Southern
• Remotely stationed farmers who need to
make acquisitions and money transfer to
other business counterparts or personal
• Profit margin: £ 138 000.00 in the first year
• Patent of products is required and requires
working in conjunction with a mobile phone
service provider and a commercial bank
• The trend is to refine the current usage
methods so that it is easy to use by the less
• Pricing is based on subscription to
membership of the commercial bank
Projected production and updates
• Estimated cost to develop the application will
reach Minimum Viable Product: £50000
• The application will need to be updated after
about year or one and half years.
Market Research and Risks
• Secondary research on mobile phone usage has been
done by going through reports by the World Bank and
the African Development bank. The results look
promising as the trend is now for cashless transactions.
• High risks do exist due the fact that electricity supply is
not very reliable in some African countries as mobile
phones require sources of charging the batteries. It is a
highly competitive market, as those who are already
established have established a large clientele.
• Possibility of forced appropriation by government due
to political instability in Africa
• Marketing Skills: Use of social media such as
Facebook and Twitter.
• Financial skills of finance management.
• Outsourcing of Application developers
Profit and Loss Projection
Profit and Loss
Cross platform application development
Server site costs
• This proposal is for a country which is
politically stable and whose economy is on the
upcoming such as Rwanda.