Kenya - Startup under 3 years old

Describe your project or startup in a few words

Jumuisha Limited is a pioneering B2B/B2B2C platform delivering essential financial services to underserved populations across Africa by leveraging trusted community networks, particularly churches, to deliver essential financial services.

01.01 Describe your startup in more detail

Our fintech startup, Jumuisha, offers an innovative digital platform providing financial services to underserved African communities through trusted religious networks like Churches, Mosques and others. The Jumuisha Wallet enables seamless digital transactions for religious institutions and congregants. We also offer embedded financial services such as insurance, short-term loans, and savings plans, tailored for congregants through our partners. Additionally, Jumuisha supports religious institutions with tools for donation management, member engagement, and event planning. Leveraging the reach of religious communities, we enhance financial inclusion, foster trust, and empower local economies. Since launching, we’ve partnered with hundreds of institutions, reaching thousands of users and processing substantial transactions, demonstrating scalability and trust. Our mission aligns with Africa’s digital economy, positioning Jumuisha as a catalyst for socioeconomic development.

01.02 What is the main problem you are trying to solve?

Jumuisha addresses financial exclusion prevalent in underserved African communities by leveraging the trusted networks of religious institutions which are widely spread across the continent. Our digital platform, our wallet, addresses financial transparency, enabling seamless transactions and offering tailored financial services like insurance and loans to congregants. Unlike traditional banking, we embed these services within the familiar environments of churches and mosques, fostering trust and accessibility. By facilitating donation management and member engagement tools, we empower religious institutions to better serve their communities. With multiple partnerships already established and significant transaction volumes processed, our scalable model demonstrates tangible impact. Jumuisha is not just a fintech startup, it is a socioeconomic catalyst, aligning with Africa's digital economy and unlocking the potential of local economies while providing access to financial products.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

By working with religious institutions we are able to effectively reach rural and underserved populations, overcoming the barriers of distance and trust. This allows us to take advantage of the strong interest in transparency and economic empowerment these institutions have through the properly structured policies which ensure they are a point of social intervention for those who need access to services. Unlike traditional banking, we embed financial services within the familiar environments of religious institutions, fostering trust and accessibility. By facilitating donation management and member engagement tools, we empower religious institutions to better serve their communities. We offer financial solutions that are specifically made to cater to the needs of underserved communities. We have a significant advantage in efficiently solving difficulties related to financial inclusion because of our ability to customize and adapt our services to the specific needs of many.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

Jumuisha targets underserved African communities, focusing on religious networks like Churches, Mosques and others. Our target audience includes Religious institutions and their congregants. We target religious institutions with a strong interest in transparency and economic empowerment having properly structured policies to ensure they are a point of social intervention for those who need access to services. We also target congregants through our digital platforms with high engagement, to deliver embedded financial services on a trust based environment from a network of carefully vettedwh partners, who they otherwise may not have had access to or trust. Our captive market in Kenya is large with an estimated number of more than 500,000 religious institutions and the situation is replicated across Africa, making our solution one that is ready for scale across the continent.

01.05 When was your company established?

2021-07-14

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

3

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Edwin Inganji, our CEO, brings a strong technology background and 8 years of leadership experience. He is adept at setting the company's vision and ensuring smooth day-to-day operations, maintaining a strategic focus on achieving our goals with efficiency and effectiveness. James Chege: current CMO with a technology background and over 8 years of marketing experience. His expertise in customer acquisition and management, coupled with his deep understanding of technology, makes him exceptionally qualified for the role. He drives innovative marketing strategies to effectively grow the company's customer base. Marvin Makau: current CFO. Blends a technical background with over 8 years of financial expertise. His role encompasses comprehensive financial management across the company, guiding fiscal strategy and ensuring sound financial health. With his seasoned experience, he navigates complexities to optimize financial performance and drive sustainable growth.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://jumuisha.com/

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Jumuisha is dedicated to alleviating poverty by providing essential financial services such as microloans and savings accounts. Its mission is rooted in the belief that access to financial services is a fundamental human right. Jumuisha envisions a world where everyone, regardless of socio-economic status, can achieve financial independence and security. By offering tailored financial products and services, Jumuisha bridges the gap between the financially excluded and the formal financial system. Microloans are central to Jumuisha’s efforts, supporting entrepreneurial ventures, particularly those initiated by women and marginalized groups. These small-scale loans enable individuals to invest in income-generating activities, fostering local economic growth and creating employment opportunities. The ripple effect of these microloans extends beyond individual borrowers, uplifting entire communities out of poverty.

02.02.01 My startup contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

1 - Strongly Disagree

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

1 - Strongly Disagree

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

6

02.08.02 Decent work and economic growth - Justification for my startup

Jumuisha's financial inclusion initiatives facilitate economic activities and entrepreneurship, contributing to sustained, inclusive, and sustainable economic growth and productive employment. By offering savings accounts designed for low-income individuals, these accounts promote financial stability by allowing people to accumulate funds for future needs and emergencies. Jumuisha's savings programs are accessible and user-friendly, encouraging a culture of saving and helping clients develop financial discipline and long-term planning skills. Savings accounts help individuals build a financial cushion, which is crucial for managing unexpected expenses and ensuring long-term financial security thus eventually leading to economic growth.

02.09.01 My startup contributes to the Industry innovation and infrastructure

1 - Strongly Disagree

02.09.02 Industry innovation and infrastructure - Justification for my startup

Jumuisha leverages technology to provide innovative financial solutions, improving infrastructure and fostering innovation in underserved areas.

02.10.01 My startup contributes to the Reduced inequalities goal

3

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

3

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

1 - Strongly Disagree

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

1 - Strongly Disagree

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

1 - Strongly Disagree

02.17.02 Partnerships for the goal - Justification for my startup

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

4

06.02 The product/service represents an entirely new type of product/service.

4

06.03 The product/service could be described as a new technology.

4

06.04 The product/service is an improvement on an existing product or service.

5

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

4

06.07 The product/service is a new version of an old product/service.

3

06.08 Justification for my startup

Jumuisha stands out with its unique community-driven approach, leveraging trusted networks within religious institutions to provide financial services. This strategy fosters trust and acceptance where traditional banks struggle to reach, enhancing user involvement and engagement. Our tailored financial solutions cater specifically to the needs of these communities, offering services like loans, savings, and mobile payments. .Our sustainable revenue model ensures long-term viability and scalability through multiple streams, including commissions, subscription fees, and transaction fees. This approach not only supports financial stability but also facilitates continuous investment in improving user experience and expanding our footprint across Kenya. Jumuisha's integration within community frameworks and commitment to customized financial solutions underscore our role as a catalyst for economic empowerment and inclusive growth in the region.

06.09 Competitive Analysis

Some of our competitors include Asoriba, Edisciples, Kanisa App. What makes us stand out from them: Community-Driven Financial Services: Jumuisha's unique community-based strategy fosters trust and acceptance in underserved rural areas where traditional banks struggle to reach by utilizing trusted networks within churches and other organizations to provide financial services. Our extensive integration with community frameworks distinguishes us from rivals and increases user involvement. Tailored Financial Solutions: We offer financial solutions that are specifically made to cater to the needs of underserved communities, including loans, savings, and mobile payments. We have a significant advantage in efficiently solving difficulties related to financial inclusion because of our ability to customize and adapt our services to the specific needs of various communities.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?