ColloAfrica, a rising fintech startup, has set its sights on empowering Nigeria’s vast informal economy through a new innovative fintech platform.
The new platform is designed to seamlessly digitise the management and operations of traditional savings groups and reshape the landscape of Ajo, Adashi, Esusu, and similar community-based contribution groups, according to the fintech start-up.
Olayinka Odunbaku, chief executive and founder of ColloAfrica said this transformative solution offers a secure, transparent, and efficient means of creating contribution groups, managing members, and facilitating instant payouts.
He said this move presents an intersection of tradition and technology, connecting people and Institutions with exclusive, first-class savings and investment opportunities to collectively facilitate financial growth.
According to him, it is necessary to combine the capabilities of technology with the benefits of traditional saving systems to easily build sustainable wealth.
“In an era of digital transformation I envision a future where age-old practices seamlessly integrate with modern technologies,” he said.
Odunbaku further said ColloAfrica’s commitment to sustainable community-based savings goes beyond mere financial transactions; it’s about fostering long-term financial health within communities.
“The platform seeks to establish a robust and enduring framework for savings that not only benefits individuals but also contributes to the collective prosperity of the community”
“By integrating technology with traditional savings practices, ColloAfrica aims to create a sustainable financial ecosystem that stands the test of time, serving as a foundation for intergenerational wealth,” he said.
Commenting further, he said the platform’s transformative feature will allow members to instantly boost their savings capability, adding that this isn’t just about putting money aside; it’s about providing individuals with the power to enhance their financial resilience on demand.
The Collo Africa founder assured that whether preparing for unforeseen expenses, pursuing personal goals, or planning for the future, the platform empowers members to take control of their financial destiny with immediate and tangible results. – Olayinka said.
“By providing a digital infrastructure that combines tradition with innovation, ColloAfrica aspires to lay the groundwork for communities to thrive financially, building a legacy of prosperity that transcends generations. The business objectives align with a vision where financial empowerment becomes a shared journey, creating a ripple effect of positive economic impact within communities,” he added.
