Microfinance institutions, especially traditional ‘susu’ collectors, are mostly characterized by paper and non-automated transaction processes.
A new financial technology, Mobart, is however aiding susu collectors to capture mobile transactions conveniently to save them adequate working hours.
The technology is designed for the collectors to transact at no cost and without internet connectivity.
The application, built on an AI technology known as Opanet, allows innovators to design technological solutions tailored towards the specific needs of microfinance institutions
Project innovator, Paul Opoku, revealed the mobile application is easily accessible with a user-friendly interface.
“Mobart is an end-user terminal that is both a software and a hardware. The technology helps mobile bankers to both print receipts and send SMS notifications to customers.
“It doesn’t run on the internet and has a very intuitive interface and is accessible anywhere,” he said.
After a pitching session at a local pitch summit in Kumasi, the innovators of the software emerged winners qualifying to the national pitch front.
They competed with other start-up firms including Hypacart, a groceries and equipment purchasing app, and B-Poku Farms which is into production of fertile poultry eggs.
The participating start-ups underwent 17-weeks of intensive and interactive training to equip them with relevant skills to ready their businesses for investment.
Project Lead for the National Acceleration Program, Getrude Mawuena Goh, explained the training enhances start-ups to become more investor-ready.
“The acceleration program is in three phases, pre-acceleration phase where start-ups are taken through a pitching session and then progresses to the core phase.
“The core phrase entails matching the start-ups to enterprises and business development training for 17 months.
“The final phrase which is the post acceleration attracts more investors to these start-ups,” she said.