Established in 2014, in Uganda, with a mission of driving financial inclusion by growing the developing world’s digital financial infrastructure, Ensibuuko has over the past years, designed, and implemented life changing digital products and services that connect the unbanked to the wider financial services ecosystem.
Through its proprietary mobile app and microfinance platforms- “MOBIS” that helps credit unions (SACCOs) and saving groups efficiently manage their savings and loans to become efficient by automating their operations, Ensibuuko has grown to serve over 240,000 customers organised in more than 120 SACCOs and 1,200 VSLAs across 30 districts in Uganda. The company also has a growing network of over 360 digital community agents that extend a range of tailored financial services (such as digital loans, digital crop insurance, and digital financial literacy) in addition to digital savings that are priced appropriately for rural based customers – and to ultimately become a digital-only last-mile financial service partner for rural saving groups. Its team has expanded to now 45 full time employees, with expertise in financial technology platforms, complex integrations with banks and telecom companies. It is a young and gender balanced team.
Ensibuuko is now accelerating into Africa’s leading technology icon leveraging on established partnerships with three of Uganda’s leading banks, microfinance companies, as well as the two largest telecoms – MTN and Airtel in Uganda, with key expansion pipeline projects from Ghana, Rwanda, Nigeria, Senegal, South Africa and Tanzania. So far the organisation has raised a total seed investment of over US$1.6 million from FCA investment and a group of Canadian Angel Investors. This indeed positioned FinTech to gain access to technical resources and a global network of partners allowing it to build internal capacity and to establish strategic relationships across the Sub-Saharan region. This also enables Ensibuuko to scale rural banking infrastructure and digital financial services to millions of customers in Sub-Saharan Africa,
Over the past 7 years of existence, Ensibuuko has designed and implemented relevant and affordable digital products and services that connect the unbanked to the wider financial ecosystem. Currently there are three key products/services to its portfolio;
- Mobile Money integration, which enables SACCOs and Savings Groups to make transactions using MTN Momo Pay and Airtel Money at their convenience.
- Crop Insurance; in partnership with the Agro Insurance Consortium, Ensibuuko is able to provide indexed weather crop insurance at a low cost.
- MOBIS VSLA- an Android application for Village Savings and Loan Associations that enables the groups to have their operations digitized onto the app, and access financial linkages.
Ensibuuko’s vision for the future is to provide enduring commercial value for its customers through technology as well as an experience into a one stop point simple, secure, reliable, and diversified platform.
“As we celebrate this key achievement in financial inclusion in Uganda, I would like to thank all our partners and the team for driving the company’s vision to date.” Gerald Otim, CEO- Ensibuuko comments!
