GreenTec invests into Kenyan social networking app Netwookie LTD
Nairobi (Kenya) and Frankfurt (Germany) September 2018. GreenTec is pleased to announce its investment into Kenya-based Netwookie LTD. Netwookie has developed an innovative approach to mapping the social networks and relationships of virtually any ecosystem. The company’s proof-of-concept is demonstrated with the Netwookie app, which helps users find professionals and service providers on the informal market. Lack of trust is the primary barrier to new business opportunities in developing economies, resulting in an estimated annual loss of $23 Trillion US in productivity and economic growth for African countries. Small businesses and the clients seeking their services are limited to word-of-mouth referrals to find clients or reliable professionals. Similarly, African businesses and corporates struggle to identify and validate qualified applicants within their ecosystems, a key impediment to growth on the continent.
Netwookie solves this problem by digitizing word-of-mouth referrals and mapping social relationships, using a custom developed trust prediction algorithm based on an individual’s personal contacts. Netwookie currently offers its services as an app, available from the Google Play store, which helps users in Kenya find trusted boda-boda (motorbike taxi) drivers. The app tells users how many registered professionals are in their contacts, as well as listing endorsements and providing location information. Users can then contact the service provider directly and negotiate and contract services and arrange payment through the platform.
The company has recently finished a successful pilot with motorbike taxi (boda bodas) drivers in Nairobi. Having demonstrated the viability of the platform and trust prediction algorithm, the company is actively working to further develop the platform to offer HR and recruitment services to African business and corporates. This is an ideal solution for companies seeking to hire the best candidates from a vast pool of potential job seekers with a range of educational and work experience, leveraging the company’s technology to identify local talent, as well as, help professionals further develop their skills through strategic matches with organizations.