SAVE. Get Credit. Invest

by Shema Steve

from Exuus Ltd

Our solution

A digital platform that financially empowers Saving Groups (VSLAs) sustainably with a collective decentralised ledger. SAVE provides a collective and decentralised digital ledger to VSLAs via mobile money wallets. The collective wallet is then connected to members mobile money wallet and is accessible via a short code: *777#. Members only need a feature phone and mobile money account to be enrolled on SAVE. SAVE supports all operations from savings to requesting/approving loan requests.

What's the business opportunity for host and refugee community

A systemic market approach: The VSLA model faces an alarming sustainability challenge. This challenge threatens both the efficiency and sustainability of VSLAs model. Timothy H. Nourse asserts: “… Microfinance (VSLAs) offers the same possibility for refugees, but only when appropriately adapted and applied.” The VSLA model necessitates a systemic approach to assure sustainability and broader market relevance, SAVE makes that possible by rendering VSLAs bankable.

How has it been implemented and what impact it had

Over the last 19 months we have achieved the following: - SAVE was developed - SAVE was integrated with MTN & AIRTEL - Partnered with World Vision & CARE International to successfully pilot SAVE on + 700 users - In November 2018, we’re a nationwide scale-up plan The impact so far: - Security for members savings - Efficiency in operations - Exposure to financial service providers (Banks, MFIs, etc.) - At large, we’ll achieve financial inclusion that works for both the underserved and unserved.

Our Skills and Experience

- We have secured partnerships with both World Vision & ADRA Rwanda both of which work closely with refugees in Rwanda - We coordinated the first-ever countrywide survey on saving groups (VSLAs) three times (2014, 2015 & 2016) commissioned by Access to Finance Rwanda, Central bank (BNR) and MINICOFIN. - We currently have +700 users on our platform from 7 different districts. - World Vision & CARE International that have +25,000 VSLAs have agreed to scale up with us after a successful pilot