Rural customers, particularly women, are often excluded from mainstream financial services. Savings groups tend to rely on paper record-keeping and operate on traditional, non-digital systems that are unconnected to the larger financial ecosystem. Savings groups need to utilise digital solutions to advance the financial inclusion of the communities they serve, but a lack of knowledge about relevant digital products and services and the skills required to use them are major barriers for rural customers to adopt internet services.
GSMA Innovation Fund Start-Ups: Ensibuuko
Ensibuuko’s mission is to drive financial inclusion by growing the developing world’s digital financial infrastructure. They deploy technology solutions to community-based savings and loans organisations so they can efficiently reach and serve unbanked and underserved communities in Africa with affordable and relevant financial services.
Ensibuuko is one of the start-ups supported by the GSMA Innovation Fund for Mobile Internet Adoption and Digital Inclusion, which was launched in April 2020. It is funded by the UK Foreign, Commonwealth & Development Office (FCDO), and supported by the Deutsche Gesellschaft fȕr Internationale Zusammenarbeit (GIZ) GmbH, the GSMA and its members.
Learn more about the GSMA Innovation Fund here.