EsusuAfrica

EsusuAfrica

Digitization of Thrift Savings Scheme in Africa

Founded 2018 Nigeria

Nigeria 11 employees Financial Services, Fintech

**EsusuAfrica** is a Nigerian startup that aims to digitize the traditional thrift savings scheme prevalent in Africa. The company targets the financially excluded population in Nigeria, comprising of petty traders, small-scale enterprise owners, farmers, and artisans in rural and urban areas. These individuals are accustomed to daily contributions, known as esusu, where a collector collects a certain amount and takes a fraction at the end of the month. **EsusuAfrica** identified the challenges faced by both collectors and customers in the traditional manual savings scheme and sought to address them by creating a platform that facilitates savings and provides access to microcredit in a fast and secure manner. The company's solution, **Electronic Esusu**, integrates finance management tools to simplify and automate thrift savings, collection, and microcredit processes. Leveraging Digital Payment Technology and Global System Mobile Device, the platform aims to enhance esusu transactions. It also ensures instant transaction information, data security, and real-time access for members and management of esusu schemes. **EsusuAfrica** has positioned itself at the intersection of Financial Services and Fintech, operating from its headquarters in Nigeria. As of now, the company does not have disclosed information on their latest investment round or the participating investors. Having been founded in 2017, **EsusuAfrica** addresses a crucial need in the Nigerian financial landscape and presents an opportunity for investors to support the digitization and modernization of traditional savings schemes in the region.

FAQ About EsusuAfrica

Digitization of Thrift Savings Scheme in Africa

EsusuAfrica was founded in 2018.

EsusuAfrica is headquartered in Nigeria.

EsusuAfrica operates in Financial Services and Fintech. Its work centres on Digital Financial Services, Fintech Solution, Thrift Savings and Microcredit.

EsusuAfrica has approximately 11 employees.

Top alternatives and competitors to EsusuAfrica include Oplay, Vodafone Pay, Ensibuuko, SmartMoney International, Eko. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.

EsusuAfrica and Oplay are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

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