The majority of the people in Africa approximately (70%) do not have a Bank Account. There are over 700 Million Mobile Phone Users in Africa thereby making the mobile platform the best way to reach people across Africa. 50% of the African population is under the age of 25 so we see our services remaining relevant for many decades to come. We see an exponential growth in Mobile activity over the next 5 years.
We aim to provide a payment solution to make life easier for people. In future we will extend the solution by CONVERTING THEIR MOBILE NUMBER INTO AN ACCOUNT number which will enable our customers to build up a good financial history so that they can also qualify for loans, Micro credit, Insurance and other essential services. It makes a lot of sense and it’s simple.
We are providing a low cost, high value, automated, integrated service that brings different service providers together onto ONE MOBILE PLATFORM. We aim to provide affordable services to the un-banked and under-served markets in both rural and urban areas thereby immediately bringing them into the mainstream economy and thus helping our country to grow.
People will be able to do almost any kind of transaction, access a range of financial services via our website and App and pay bills e.g. Pay for water, electricity, DSTV, TV license, top up phones, pay School and University fees, receive salaries, pensions, go to market and pay for items, pay for taxis, trotro (bus) etc. Tax and payment for other public services will be easier and simple for people to pay thereby increasing revenue collection from the Waakye seller on the road to traders in the market, artisans and those working with no fixed address. Governments in Africa will be able to access new capital for infrastructure and social development projects.
We are a social enterprise, we provide services to low income, no income and grassroots people because they form the majority of people in Africa. We want to move Africa forward by connecting our people through information and technology using the mobile platform.
SokoPay will help to increase capital flow between rural and urban areas, reduce poverty by bringing more people into the mainstream economy and increase entrepreneurial activity across the African continent and beyond.
Our social responsibility - We will donate a percentage of our profits to projects that support survivors of domestic violence and children in orphanages.
Roadmap - For now we will provide a Mobile Payment solution then move to Mobile Commerce in the last quarter of 2016.