ELECTRONIC ESUSU Digitization of Thrift Savings Scheme in Africa
59% of the Current Nigerian Adult Population is Financially Excluded. These are mainly petty traders, small scale enterprise owners, farmers and artisans who live in rural and urban areas. Most often, they indulge in daily contributions also known as ESUSU where a collector collects certain amount of money from customers and at the end of a month, the collector takes a fraction of the money for the services rendered. Both the esusu collectors and their contributors/customers are posed with the problems of the traditional and manual savings schemes.
Electronic Esusu is a unified digital finance management solution designed to automate the process of thrift savings, collection and microcredit so as to eradicate the problems of traditional and manual savings scheme enhancing financial inclusion for everyone.