Makeba is excited to announce that we have engaged in the signing of an MOU to develop a profit-sharing agreement with Biz Incubate and Colbys Consulting & Investment for Makeba’s entry into the Philippines Market.
The Philippines, with $32 billion in inbound annual remittances, is a major incremental revenue opportunity for Makeba outside of our initial market coverage of Africa, the European Union, and the USA.
This agreement paves the way in securing further partnerships in the Philippines with on-the-ground support from the Roxas Foundation, giving us access to up to 6 million users who are currently beneficiaries of the Roxas Foundation’s philanthropic efforts and entry to an addressable market of 106 million people, of which only 23% own bank accounts, while 68.41% own a smartphone.
While outside of our core African market, this partnership is exclusively built around profit sharing and does not involve upfront capital investment for Makeba, a win-win for all parties involved and the potential to greatly enhance our trajectory and global subscribers.
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