Many people in developing countries do not have a bank accounts or access to debit cards. Transactions done entirely in cash mostly go unreported and exist outside the systems that collects taxes and report on financial behavior. The informal sector often represents a significant portion of a developing countries economy, and at least $11 trillion of the global economy.

The reasons for the lack of banking are many - a lack of trust in uninsured bank accounts, unethical practices by financial institutions in the past, or simply the inconvenience of accessing your money without reliable ATM networks or widespread acceptance of credit cards.

For business owners managing a business entirely in cash is troublesome. Paying bills and suppliers is hard as is building credit and borrowing money.

For individuals transacting with cash is equally troublesome, especially when making large purchases or trying to save for the future.

Makeba eliminates the need for cash. With reliable mobile networks quickly being built across the world, Makeba is able to make instant mobile-to-mobile payments at a very low cost.

Being able to safely make payments and save for the future provides a strong foundation for emerging economies.

Many families in developing countries rely on money being sent from family members working abroad to make ends meet. The money they recieve and spend is very important for local businesses and communities in their home countries.

The average cost of remittance is 7% globally with many African countries having the highest rates of 10% or more, meaning a large portion of money sent is actually eaten up by fees.

Makeba drastically lowers the cost of sending money. Monthly subscribers can send money for fees many times lower than the global average cost of remittance.

The reason Makeba is able to charge so little is because we got rid of the middle-men that drive up costs (the banks and the agents). This makes money transfers cheaper, faster and more convenient with all transactions done from a smartphone.

Instead of high fees eating into the transfer, recipients receive more of their money, and that's what it's all about.

While the negative effects of borrowing from high interest credit cards might be a well known problem for individuals. A less know burden are the high fees credit cards impose on businesses.

Businesses pay on average 3% in fees for every credit card transaction they make. That is a big drain on businesses of any size.

Makeba radically lowers the cost of doing business. With plans catering to businesses of different sizes, Makeba can offer transactions fees as low as 0.25% per transaction - 12 times lower than the average credit card transaction.

For individuals there are no fees for keeping their money in a Makeba account, and only Merchants pay a fee on transactions.

In addition to saving a lot on transactions fees Makeba offers businesses several convenient features that make running a business easier, such as the built in Point of Sale tool, allowing even the smallest of businesses to join the modern economy.