AjoMoney has been chosen as one of the winners of the Migration Entrepreneurship Prize 2022 awarded by Seedstars and supported by the Federal Department of Foreign Affairs FDFA’s Peace and Human Rights Division.
The Migration Entrepreneurship Prize is a program focused on identifying and technical support for socially-driven businesses on a mission to enhance the economic inclusion of migrants in the Middle East and Africa. Supporting startups that harness the positive benefits of migration and reduce the vulnerability of migrants by improving their livelihoods, contributing to their social and economic rights, and thereby reducing the pressure for irregular dangerous migration routes.
Here at AjoMoney, we digitized the centuries-aged rotating savings and credit associations in Africa to promote financial inclusion. Since its beta launch in September 2021, AjoMoney has processed about $450,000 in grand transaction volume and onboarded about 9,000 users with over 5,000 users actively paying. All this was achieved at a 0% marketing budget.
In the coming months, we will be participating in the 2022 Seedstars Investment Readiness Program.
Read more on the global winners here. You can also read here how AjoMoney is helping them save towards achieving their financial goals early without the burden of high-interest loans, save for early credit, and also an early investment.