Uganda - Business creation project

Describe your project or startup in a few words

Gold safe aims to empower drivers and riders with options of saving for tough times when they may fail to afford fuel and energy related services. It also permits its constant users to acquire loans specifically for fuel, energy and transport services.

01.01 Describe your project in more detail

The “gold safe” is basically a digital savings and money lender that targets drivers of cars and motorcycles by availing them with a digital safe where they can save money for fuel and energy related services. This money saves them during tough times when they are unable to afford fuel and other energy services for example motorcycle and car mechanical repairs. The gold safe will also lend money to its constant users for fuel and other energy related services basing on the record of the client. The gold safe will also be able to receive payment from the customers of our clients (motorcyclists and drivers) because some of them may choose to save specific transactions to the safe depending on the sales they have made on a particular day. This project is open to scale and advance to other sectors as we save our environment by fighting out cash money that has led to counterfeit, easy spread of diseases like red eye etc and gold safe simplifies transactions through speed and traceability.

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

According to the global climate action plan, one of the major challenges facing the Ugandan transport sector is the prevalence of motorized vehicles. Motorcycles dominate, followed by passenger vehicles (buses, minibuses and cars). The number of vehicles is growing rapidly with an average increase of more than 10% per year and this calls for solutions that will prevent impunity among road users and transporters due to congestion. I am solving SDG one zero poverty by providing a digital savings platform for users and availing loans to gold safe constant users for operational costs, SDG 11 sustainable cities and communities by reducing congestion and delays (search for changed cash money) through digital transactions and supporting the motorists with affordable means of maintenance and operation costs , SDG 13 climate action by prevention of unnecessary gas emissions by motorists due to poor mechanical conditions through saving for emergency into and accessing loans from the gold safe.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Gold safe will enable its users to save for affordable energy, acquire loans during difficult times for specifically energy related services for example during back to school season, many motorists who survive from hand to mouth may access money from savings groups and banks for school fees purposes and yet fail to maintain operations of their businesses at such times. Gold safe lowers chances of disease transmission for example red eye that has been viral in Uganda lately. Traders who use cash are more exposed to such diseases than those using cashless transactions. Gold safe prevents delay and reduces congestion as it enables both the motorists and their clients to transact digitally hence preventing saving time for example (in search of changed cash money) Gold safe prevents loss of money/hard cash to pickpocketters, counterfeit, etcetera and instead boosts the digital wallet of its users thus increasing their chances of acquiring support in form of loans during emergency.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The targeted beneficiaries of my project are motorists (drivers and motorcyclists) who are full time employees in the transport sector and also passengers who will make transactions to the motorists on gold safe. Traders, workers on payment roll, etcetera are target groups too at a certain stage of the project.

01.05 When did you start working on your project?

2023-10-01

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

1

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

1. IMONGOT CLAUDIA (Public Health Expert/Creative arts enthuthiast) AGE: 29 years D.O.B: 24th April, 1995. EMAIL: claudiaimongot@gmail.com SKILLS - Research and strategy - Computer skills - Emotional intelligence - Team work and team building - Public speaking - Decision making EXPERIENCE - 2015-2016: Worked as a research assistant at Clinton Health Access Initiative, Kampala. - 2016-2017: Worked as a research assistant at TWAWEZA East Africa - 2018: An intern at AIDS Information Centre, Kampala head office. - 2019 to date: Founded Imo international carnival and events limited to promote foreign culture across East Africa. - 2022-2024: Appointed to serve at the gender committee of the Commonwealth Youth Council for Africa - Appointed the Ugandan youth representative to the UNESCO Youth Forum.

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

https://www.facebook.com/profile.php?id=100063690777246

01.10 Which industry best describes your project?

g) Financial services

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

My startup targets the less privileged in the transport sector for example Boda Boda riders(motorcyclists) and taxi/minibus drivers who majorly feed on hand to mouth hustle. My project will enable these groups and also their clients to plan ahead for example an average Ugandan may be earning about 500.000 ugx and putting money in the gold safe means they have secured a means to travel to work and are eligible to borrow in case they run short of their savings.

02.02.01 My project contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification

When the motorists have access to money through their savings and loans for maintenance and operations, it helps us achieve zero hunger as a sustainable development goal because they will be able to constantly generate income for their welfare and for their families.

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

7 - Strongly Agree

02.03.02 Good health and well-being - Justification

Providing access to loans for operational and maintenance costs prevents unnecessary gas emissions due to poor mechanical conditions hence prevents air borne diseases like whooping cough and also savings by both motorists and passengers enables cashless transactions which prevent contagious diseases like red eye which has been prevalent in Uganda for example.

02.04.01 My project contributes to the Quality education goal

3

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

In Uganda, women and girls have severally exempted themselves from specific jobs like driving and riding. It is very scarce to get a female motorist but my project interestingly will have discounts for women and girls who are motorists (entrepreneurs) in order to motivate others to make a difference in the transport industry and also develop high self esteem.

02.06.01 My project contributes to the Clean water and sanitation goal

5

02.06.02 Clean water and sanitation - Justification

My project somehow implements clean water and sanitation as its advocating for a clean environment by preventing unnecessary gas emissions as the motorists will be able to do maintenance and repair with the gold safe savings. Reducing of congestion also promotes sanitation as authorities are alert and hold anyone who risks society accountable.

02.07.01 My project contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification

Gold safe specifically is simplifying access to affordable and clean energy (fuel, gas,etc), through savings and access to loans for maintenance and operation costs for motorists. Every consumer of the gold safe service benefits from affordable services through our to be partners like petrol stations.

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Gold safe has simplified work for motorists because they can all receive transactions on gold safe without having the stress of looking for changed money for clients for example in Kampala, several boda boda (motorcyclists) park their bikes in order to look for changed money (balance) for their clients, this causes congestion and gold safe is here to promote descent work. It also promotes economic growth as it prevents counterfeit (fake money in the market), we also will boost our country’s revenue through transactions in gold safe.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Gold safe highly promotes industry innovation and infrastructure as it simplifies innovation even in the most rural business. It enables motorists even in the most rural areas to embrace technology as there will be an Unstructured Supplementary Code for users of analogue phones to access gold safe services as well.

02.10.01 My project contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification

Gold safe reduces inequality in a way that even those who do not have access to internet can transact on analogue using the Unstructured Supplementary Code. This means that even the most rural person can be a beneficiary of the gold safe.

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Gold safe contributes to the sustainable cities and communities by preventing congestion and delays for example between motorists and passengers as the transactions are directed to the digital wallet of the service provider unless now where motorists have to park aside in search of changed cash money for passengers. It also enables us to trace our transactions and plan ahead by saving for a rightful cause.

02.12.01 My project contributes to the Responsible consumption and production goal

5

02.12.02 Responsible consumption and production - Justification

I somehow agree that gold safe promotes responsible consumption and production because it enables its consumers trace their costs and plan ahead of time by saving or acquiring a loan for a right cause.

02.13.01 My project contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification

Gold safe protects the environment from pollution for example from the gas emissions of mechanically broken cars by providing motorists with services of savings and acquiring loans through the gold safe for emergency mechanical breakdowns. Gold safe also provides a platform for motorists to acquire clean and safe energy related services from approved and secure spots and this protects our climate due to limited congestion that can lead to air and soil pollution.

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

3

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

6

02.16.02 Peace justice and strong institutions - Justification

Gold safe promotes peaceful and inclusive societies as it prevents congestion and delays which can lead to a crime surge like pickpocketing, hitmen and robbers, etcetera. Gold safe also strengthens our institutions through innovation.

02.17.01 My project contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification

My project contributes to partnerships for the goal as it is not exempted for only the transport sector but has the ability to promote partnerships for the goal by engaging with various sectors like agriculture, trade, fintech, etcetera. Farmers for example can too use the gold safe and likewise to traders to receive transactions from their customers.

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

2

05.02 The product/service we envision creating represents an entirely new type of product/service.

7 - Strongly Agree

05.03 The product/service we envision creating could be described as a new technology.

7 - Strongly Agree

05.04 The product/service we envision creating is an improvement on an existing product or service.

1 - Strongly Disagree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

1 - Strongly Disagree

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

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

1 - Strongly Disagree

05.08 Justification

Gold safe is a new product designed as a new technology. Despite having competitors like safe Boda and Uber, gold safe responds to the demands that have not been satisfied by them for example they both don’t link motorists to mechanics and petrol stations, they both do not offer the motorists with an opportunity to borrow and yet they have the saving options.

05.09 Who are your main potential competitors and what makes you stand out from them?

Our main competitors in Uganda are safe boda and uber but gold safe stands out as we are going to be a link between the motorists and service providers for energy related services. We also have a digital wallet just like them but our safe permits constant users to save and acquire loans for emergencies like operational costs for fuel and gas, etc which they both do not offer. We also stand out because our idea is scalable beyond the transport sector, we may scale it later and introduce other sectors like trade, agriculture, health, education, etcetera.

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

Yes, I am a member of Ateker Professionals Initiative for Development (APID) Women where we often train female entrepreneurs on how to start and maintain functioning businesses in Teso Kenya and Teso Uganda. I am also currently organizing the Teso Entrepreneurs and Investment week in partnership with the Iteso Cultural Union where entrepreneurs (100) will be availed with training opportunities and out of this, 60 are female entrepreneurs .