Uganda

Bureau Vente

  • ETC Representative: AbdulAzeez Oguntoyinbo (Chief Executive Officer)
  • Chief Commercial Officer: Raji Adegoke
  • Product Developer: Akinade Ayodeji
  • Business Developer: Khadijah Olawumi Olayiwola
  • Data enthusiast: Yusuf Oluwatoki
  • Data science expert: Oluwaseyi Whyte Akinlolu
  • Problem statement

    36.8% of Nigerian adult population are financially excluded. Most often, they indulge in regular thrift collections also known as ESUSU where a collector collects certain amount of money from customers physically and at the end of a month, he takes a fraction of the money for the services rendered. Both the Esusu collectors and their contributors are posed with the following problems of traditional and manual savings scheme; (1) too Much Paper work leading to Loss of Data due & Errors, high Risk of Handling Cash resulting in robberies, (2) fraud & other cash related Crimes, (3) inaccessibility to Digital Financial Services & Low Access to Credit, (4) operational inefficiency leading to wastage of time & efforts, (5) low Financial Literacy and Distrust of Financial Services

    Solution description

    Electronic Esusu is a unified finance management solution designed to automate the process of thrift savings, collection and microcredit enhancing digital financial service delivery for the unbanked and under-banked. The solution explores Cloud and Mobile technology to enhance transactions of the Esusu schemes. The system also provides members and management of Esusu schemes with instant information on any transaction made (SMS/Email/USSD) guaranteeing security of data and information. Leveraging the use of big data tools and analytics from Esusu Transactions, Esusu Africa aims to advance financial inclusion to the last mile by connecting the financial service providers to the unbanked segment to make them bankable.

    Market segment

    The unbanked, underbanked and the banked through our agent network driven approach. We would be providing the platform to network of cooperative societies, microfinance institutions, thrift collectors, credit unions, SACCOs, mobile money and bank agents to enhance the delivery of digital financial services to the last mile.