Proposalfor National Bank of Ethiopia

ETHIO ELECTRONIC KEFEYA PLC
Bole kefle ketema,

Wereda 03, house #755/31/2
Tel: addis abeba 0929380440
Tel: Toronto 1905-920-3370
robel@tier1capitalcorp.com
PROPOSAL TO NATIONAL BANK OF ETHIOPIA

Mobile Bill Payment for hydro, water, tele, Traffic Ticket, VAT system,
Property Tax, Payroll Tax, Income Tax
Globally, the industry acknowledges the social and economic benefits that
mobile money brings, especially to developing countries, given the physical
limitations of financial services infrastructure. The wide reach of mobile phones
enables more people to access financial services quickly and easily, even
extending to billions of people in remote, rural areas with a less expensive, more
convenient alternative. Mobile banking can keep low-income
consumers money safe while giving them an affordable and flexible solution.
In Ethiopia, only a small percentage of upper-income households enjoy the
convenience of card-based, online, and mobile banking and payments, while
most consumers still pay with cash. One study shows that more than 99 percent
of retail transactions in parts of Ethiopia remain cash based, and t more than 95
percent of adults have made bill payments or remittances with cash. Given the
lack of digital-payment penetration, consumers, banks, and government are still
bearing the high cost of cash paymentscosts associated with manual
acceptance, record keeping, counting, storage, security, and transportation.
In 2015, over 20 million people use cellphone in the country where more than
80% of the population is un-bankable.
The National bill payment service that has been implement in the country in
2013 has not been function to the full extended and EEK with its full platform
is will work with all the necessary agencies to implement a more efficient bill
payment service for Ethiopian.
1 of 8
Ethio Electronic Kefeya PLC Proprietary and Confidential
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
Document Version 1.0

5 July 2015
Copyright 2015
PROPRIETARY NOTICE
All pages of this document contain proprietary, confidential, sensitive and
competitive information to Ethio Electronic Kefeya PLC. This document shall
not be duplicated, transmitted, used, or otherwise disclosed to anyone other
than the organization or specific individuals to which this document is
delivered. This restriction is applicable but not limited to all pages of this
2 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
document, all tables, diagrams, quotes, and pricing within this document.
Recipient acknowledges that Ethio Electronic Kefeya has the right to demand
from the recipient the return all copies and/or provide proof of destruction of
this document at any time. Failure of the above could result in significant
monetary damage to Ethio Electronic Kefeya plc
2015
Ethio
Electronic
Kefeya
plc.
All
Rights
Reserved.
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Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
Table of Content
About Ethio Electronic Kefeya and First Global Data.................................................................4
High Level Overview of FGD..................................................................................................5
Focus On Compliance..............................................................................................................6
ELPA, Ethio Telecom, other government agency and EEK Working Together........................8
4 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
About Ethio Electronic Kefeya

EEK is an Ethiopia based technology company using First Global Data
platform to deliver among other things, online and mobile money
remittance and digital wallet in Ethiopia.
EEK is interest working with ELPA to deliver mobile Bill Payment.
EEK will have the technology for customers to use their mobile phone to make bill payment
or recharge the ELPA Electric cards.
EEK will be helping the consumer to have convenience to make bill payment or recharge
there ELPA card without visiting ELPA center to refill their card.
EEK also will like to work with Ethio Telecom to help consumer pay their monthly tele bill or
recharge their prepaid phone bill through mobile topup.
EEK will also partner with local merchants to have consumer pay for their purchase through
their mobile phone.
EEK platform is widely used in 112 countries with over 200 Banks and over 70,000 agents
around the World.
EEK office is locate in BOLE Warda 3 and EEK is in a process of building a data center to
accommodate its launch of Digital Wallet.
We think that the technology that we are bringing to Ethiopia will help improve the life of
ordinary Ethiopians.
We also think that the platform that we will be bringing will help generate foreign currency
for Ethiopia.
By please using their mobile for payment their will be less hard cash circulating which will
help the government not print paper currency every time the paper currency is damaged.
5 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
About First Global Data platform

First Global Data is in the business of delivering among other things, online and
mobile money consumer services internationally. Services include international
money remittance, mobile peer to peer transactions, mobile payments, online
and mobile payroll and bill payment solutions. First Global Data also enables its
strategic partners and clients around the world with leading edge financial
services technology products. First Global Data's goal is to become the global
leader in the mobile money and online financial services sector.
First Global Data is a licensed Money Service Business and holds licensing in
Canada and in 22 states in the USA to provide a variety of money services.
First Global Data has also applied for the balance of the licenses in the USA and
expects to be granted licenses for an additional 28 states by the end of 2015.
FGDs 2015 plan includes leveraging its existing and new state licenses to:
Significantly expand its USA origination of money remittance transactions

through traditional Agency relationships.
Significantly expand its internet based consumer online service which

allows consumers to send money, pay bills, top-up mobile phones, etc.
Continue to deploy Online and Mobile remittances.
Continue to deploy the Digital Wallet globally.
Continue to deploy its consumer mobile payment services in Canada and

the USA.
HIGH LEVEL OVERVIEW
OF
FGD
The following is a high level overview of FGD:

Public company Listed on the Toronto Stock Exchange (TSX-V)
Symbol FGD
Executive team previous executives with AT&T
High caliber Board of Directors
Powerful institutional and Private Investor base
Global Headquarters: Toronto, Canada
6 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
Licensed Money Service Business in 16 US States

Increasing to all 50 states by end of 2015
Integrated with over 220+ Banks Globally
Staff of 65+ with approx 20 Software Developers
One of the largest mobile technology deployers 70 Financial
Institutions use our technology
Customer base of more than 1 Million
76,000+ distribution and payout locations globally
Global network spans 73 countries Expanding to 112 by end of 2015
FGD has offices in Toronto, Los Angeles, Guyana, Nepal, Singapore, India
and Indonesia
Digital Wallet launched in Nepal and integrated with 27 Banks in Asia
Digital Wallet launched or being launched in:
o India (with JV Partner)
o Indonesia (with Strategic Partner)
o US
o Canada
o GCC (JV Partner in place)
FGD has built its growth strategy on three main platforms:
International and Domestic Remittances

Including international and local bill payments and mobile phone top-ups.
Mobile Payments
FGD is actively deploying its Digital Wallet for online and mobile
payments in various countries round the world.
Mobile/Online Banking Technology

More than 70 banks and financial institutions around the world use First
Global Datas technology for online and mobile banking.
FOCUS ON COMPLIANCE
FGD is licensed as a Money Service Business (MSB) by national regulator
FINCEN and at the State level by the Departments of Financial Institutions in
the USA, by FINTRAC in Canada, and by other regulatory bodies around the
world.
7 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
This enables FGD to provide payment processing and other money services to
consumers and business in Canada, the USA and across the globe.
FGD is audited on an annual basis by independent Anti-Money Laundering and
Anti-Terrorist Financing auditors and by federal and state Financial Services and
Banking authorities to ensure compliance with Anti-Money Laundering and AntiTerrorist Financing rules and regulations.
Each member of the FGD Board of Directors and the Executive Management
had to pass rigorous background checks which included FBI screening and
background checks before being licensed. These investigations included
providing fingerprints and a comprehensive set of personal information, all of
which were used to validate the identity, background and history of these
principals. The principals of FGD were also investigated by the Toronto Stock
Exchange in 2012 as one of the necessary criteria for becoming listed on the
Toronto Stock Exchange.
FGDs technology and payment solutions are designed to ensure that they
comply with all regulatory guidelines including Anti-Money Laundering, AntiTerrorist Financing, Consumer Privacy, Data Protection and Security.
FGD adopted an approach of automating the majority of the day to day
compliance requirements by building it into our technology platforms. FGDs
automated compliance engine provides the ability to easily customize
compliance metrics, controls and procedures on a region by region basis.
ABOUT OUR PAYQWIK PLATFORM
8 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
PayQwik is a one stop mobile payment service available across

India. PayQwik offers quick mobile top-up, recharge, bill payment &
shopping. It also allows user to transfer fund across India instantly.
Customer will receive attractive incentives such as cash back,
coupons and discounts on shopping. PayQwik users are able to
recharge all telco prepaid mobile phones across India, make bill
payments to postpaid, landline & electricity providers, purchase bus,
airline, and movie tickets and shop via their mobile phones. PayQwik
Utility
companies, Government agencies and EEK
Working Together
is available for download in the Google Play Store
EEK is looking for help from National Bank in Ethiopia to allow for the following:
1. Rollout our Digital Wallet (Online and Mobile) Platform to allow for the
Banked and Un-Banked to use the services and features of the Platform.
o
o
o
o
o
o
o
o
o
o
o
o
Comprehensive Merchant Services (Online and Mobile)

Comprehensive Bill Pay (Local and International)
Airtime Top-Up (Local and International)
Integration to Remittances (Agent, Online and Mobile) and Global
Correspondent Network
Coupons
Travel (Air/Hotel/Bus/Taxi)
FX and Multicurrency
Integration to Card Products
Established funding methods to fund the Wallet
Points and Rewards features
Use of the Wallet to make in store payments directly
Integrate with proprietary that allows for commercials (TV and Radio)
to send the advertising to the Mobile device and complete the
payment using the Mobile Wallet. Receipt sent to warehouse for
delivery (automatic). Ideal for Shopping Malls (Physical and Online.
Allow
for
a
Global
Interoperable
Wallet
2. Deploy
the
services
using
both
Smart
Phones
and
9 of 8
Proposal to MCIT
10 of July 2015
SMS.

Bole kefle ketema,
Tel: Toronto 1905-920-3370
3. EEK will work with the Banks in Ethiopia to leverage its Global Remittance
licenses to send Money Transfer transactions from the US, Canada, Europe,
GCC
and
Africa
into
the
Wallet
in
Ethiopia.
4. By integrating the Merchant Networks within Ethiopia, we will have a well

established built-in Merchant Network within the country.
Responsibilities of Hidasie and EEK and FDG
EEK and Hidadie and FDG will undertakes to use their reasonable best
efforts and endeavors to promote the Business, implement the Technology
and
assist
the
Company
in
developing
the
Business.
EEK and FDG will provide the Technology, implementation services through
their experience. Also provide Operating Platform and technology support.
Both Parties undertake to assist in the preparation of contracts between

agents and any other documentation required for the successful
implementation
of
the
services
listed
above.
Provide launch strategy and market strategy to launch the EEK and FGD
Services
on
the
Wallet
for
Ethiopia
and
only
if
required.
10 of 8
Proposal to MCIT
10 of July 2015

Bole kefle ketema,
Tel: Toronto 1905-920-3370
Each Party shall ensure the Business of the Company is conducted with
sound and good business practice and at the highest ethical
standards.
Proposal
THE OFFER:
Ethio Electronic Kefeya would be willing to split Revenues in the following way:
40% of Net Revenues for Hidasie
60% of Net Revenues for EEK
11 of 8
Proposal to MCIT
10 of July 2015

Proposalfor National Bank of Ethiopia

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ETHIO ELECTRONIC KEFEYA PLC

Bole kefle ketema,

PROPOSAL TO NATIONAL BANK OF ETHIOPIA

ETHIO ELECTRONIC KEFEYA PLC

Document Version 1.0

ETHIO ELECTRONIC KEFEYA PLC

ETHIO ELECTRONIC KEFEYA PLC

ETHIO ELECTRONIC KEFEYA PLC

About Ethio Electronic Kefeya

ETHIO ELECTRONIC KEFEYA PLC

About First Global Data platform

Significantly expand its USA origination of money remittance transactions

Significantly expand its internet based consumer online service which

Continue to deploy Online and Mobile remittances.

Continue to deploy the Digital Wallet globally.

Continue to deploy its consumer mobile payment services in Canada and

HIGH LEVEL OVERVIEW

The following is a high level overview of FGD:

ETHIO ELECTRONIC KEFEYA PLC

Licensed Money Service Business in 16 US States

FGD has built its growth strategy on three main platforms:

International and Domestic Remittances

Mobile/Online Banking Technology

ETHIO ELECTRONIC KEFEYA PLC

ABOUT OUR PAYQWIK PLATFORM

ETHIO ELECTRONIC KEFEYA PLC

PayQwik is a one stop mobile payment service available across

Comprehensive Merchant Services (Online and Mobile)

ETHIO ELECTRONIC KEFEYA PLC

4. By integrating the Merchant Networks within Ethiopia, we will have a well

Responsibilities of Hidasie and EEK and FDG

Both Parties undertake to assist in the preparation of contracts between

ETHIO ELECTRONIC KEFEYA PLC

40% of Net Revenues for Hidasie

60% of Net Revenues for EEK

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