EsusuAfrica

**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.