Updated Mar 28, 2019
Part of Tony Elumelu Foundation
A mobile and web based savings and credit application which helps Saving groups, Investment Clubs and Sacco members to access finacial services any time any where using mobile money, Visa Cards and Master Cards which is time and cost effective to the bigest percetsge of unbanked and underbanked. MushanApp is already on market and four Saccos have already subscribed to its services with over 2000 member clients and hope to double the number by end this year.
We have also been able to raise $5000 in grant to invest in the software
Mugabe JansonSend Message
Access to financial services, including secure efficient banking, is critical to reducing poverty and stimulating sustainable economic growth. And yet, approximately 95% of Uganda’s citizens have limited or no access to banking services. This sector of the population referred to as the unbanked and under banked – is prevented from accessing financial services because of limited physical bank infrastructure and lack of access to electronic infrastructure such as mobile phone banking.
Mobile banking has the potential to increase the efficiency of payment systems, reduce reliance on cash, and broaden access to financial services by increasing the accessibility and lowering the cost of offering formal financial services. MushanApp deploys the latest in mobile financial technology to unbanked / under banked people. This unique platform is the catalyst that enables creation of cheap, efficient, and transparent and corruption free payment systems.
There are 16,408 registered co-operatives, in 2015 alone a total of 1014 new co-operatives were registered majority of them were SACCOs and Agricultural marketing cooperative societies. 95 % of these SACCOs are still using manual system and are our targeted customers; MushanApp seeks to remove barriers such as physical infrastructure that prevent so many Ugandans from entering the formal financial sector empowering them to manage their money more efficiently and effectively
MushanApp is a web and mobile based savings and credit system which helps unbanked and under banked community to access financial services at lowest price possible, it seeks to promote a culture of
pooling savings in very small amounts on a daily basis based
on economies of scale, investing these savings in income generating
projects which affect poor people directly in a beneficial manner. MushanApp can be used
globally to pool savings, access credit and pay back loans through Internet and mobile phone using mobile money, VISA Cards and Master Cards by saving groups(Village banks), Investment Clubs and Sacco members which is time and cost effective.
|New Implemented Countries||Uganda|
|Recruit||3 Management, 4 Board members|