Mojaloop Foundation, Inc. (“Mojaloop”) is organized and operated exclusively for educational and charitable purposes focused on addressing a significant driver of poverty and inequality—the lack of access to financial services. In furtherance of this goal, Mojaloop will:

  • Advance and Maintain Mojaloop: The Mojaloop Foundation will continue to advance and maintain its free, open source software, Mojaloop, and its community as public goods in service of financial inclusion. The Mojaloop Foundation’s Technical Governing Board (TGB), composed of member company representatives, will plan and oversee all the technical work conducted within the organization. The breadth of the TGB representation helps ensure a diversity of perspectives and approaches regarding the technical work at hand.
  • Educate and Inspire the Mojaloop Community: The Mojaloop Foundation’s open source community, convenings, and educational events will continue the unique collaboration environment created by the Mojaloop project. Through these activities, the organization aims to help more organizations understand how Mojaloop can be used as a blueprint for payment models that expand access to inclusive digital financial services. The Mojaloop Foundation will continue to engage government officials, regulators, policy makers, developers, programmers, and the public about financial inclusion and how Mojaloop serves as a blueprint to help organizations creating payment models to address the issue.

This funding request is to aid in the work of the foundation, including the general business operations required to execute on its mission.  Operations includes staffing of an executive director and community manager and providing resources to support release management and developer operations.

  • Success will be measured by the number of deployments of the open source software in the banking systems in underserved markets and the number of individuals gaining access to digital financial services.
  • Through educational programs, the Mojaloop Foundation will encourage learning and increased adoption of the software for the benefit of the underserved.
SECTOR
Nonprofit
GEOGRAPHIC FOCUS
Africa
INVESTMENT LEAD
Govind Shivkumar
GOVERNANCE ROLE
Yes
TOTAL COMMITTED
$200,000(2020)