Cameroon - Startup under 3 years old

Describe your project or startup in a few words

Learn'kap is an initiative that aims to break down the barriers to financial education and democratise access to the basics of finance through technology, thereby promoting economic growth.

01.01 Describe your startup in more detail

Learn’kap is a dynamic educational initiative that operates at the intersection of Ed-Tech and Fin-Tech. It aims to break down barriers to financial education, democratize access to the basis of finance through technology. Addressing Cameroon's (12.2%) and Africa’s (22%) low bank account ownership, Learn’kap aims at empowers youths (students, young entrepreneurs and workers in the formal and informal sector), with accessible and demystified financial knowledge. We've set out to democratize financial education and reshape how people perceive and interact with finances. We bridge the gap between financial illiteracy and inclusion by providing knowledge support for all age citizens. Our innovative solutions include engaging Comic Books and eBooks for all ages education and an online education and coaching platform providing educational video courses and articles paired to online consultancy services from financial expert partners.

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

Financial illiteracy is a barrier to personal social and economic development. Result from a survey conducted over 100 Cameroonians has shown that, more than 90% have no knowledge of the concept of financial literacy. For the remaining 10% trying to acquire financial knowledge, they depend mostly on the internet and ebooks. This is as a result of the lack of financial education in the national education system and the absence of an official institution aiming at providing contextualize and simplified approach and assistance to financial concepts understanding. Following the same survey this lack of financial knowledge has resulted to the abuse of more than 70% of the participants by institutions and individuals.

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

At Learn’kap, our promise is a pathway to tangible financial empowerment, unlocking a realm of benefits: We save time and simplify learning as we cut through the jargon and complexities of financial concepts, delivering essential and effortless grasp of crutial knowledge in a fraction of the time. We contextualise financial concepts to traditional and socially common practices for a better social comprehension and intergration. We provide low-age children introduction to good financial practices and financial concepts through a learn while having fun approach with our service of comic books. Finally, we don't just teach, but we also provide assistance and support from expert in finance, to assist and advise suscribers in their day to day acticvities.

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

The main target of this project is the up-growing population of students, young entrepreneurs and young workers in the formal and informal sector.

01.05 When was your company established?

2023-08-01

01.06 Are you already selling your product/service?

No

01.07 How many other owners are there within your startup?

4

01.08 Among the other owners, how many are female?

1

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

Maël Donko (Project Manager): Participated in the development, management and coordination of several civil engineering and digital projects. Carlos Akoh (Accountant): Consultant at social security support, accounting support and taxes declaration support companies Aureline Meli (Communicator): Professional community manager and content creator. Joseph Feussi(Software Engineer): Professional software developper and digital project manager.

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

https://x.com/Learn_kap,

01.11 Which industry best describes your project?

Other: Education

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Financial literacy has a profound impact on poverty by providing individuals with the knowledge and skills necessary to manage their resources effectively. By understanding fundamental financial concepts such as budgeting, saving, investing, and debt management, people can make informed decisions that enhance their economic stability. LEARN'kap’s initiative, which focuses on education, assistance, and continuous monitoring, aims to bridge the knowledge gap and empower the next generation. This empowerment enables individuals to break the cycle of poverty by making better financial choices, avoiding pitfalls such as excessive debt, and ultimately creating opportunities for wealth accumulation and financial independence. Consequently, as more people gain financial literacy, the overall economic resilience of communities improves, reducing poverty levels and fostering sustainable development.

02.02.01 My startup contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification for my startup

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

4

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

02.04.01 My startup contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification for my startup

Financial literacy is a vital complement to quality education as it equips students with practical skills that are essential for real-world success. While traditional education provides foundational knowledge in various subjects, financial literacy programs enhance this by teaching students how to effectively manage money, budget, save, and invest. This holistic approach ensures that individuals are not only academically proficient but also capable of making informed financial decisions. Integrating financial literacy into the educational curriculum fosters critical thinking and problem-solving skills, which are crucial for personal and professional growth. By understanding financial principles, students can navigate economic challenges, plan for their future, and achieve financial stability, thereby enhancing the overall quality and relevance of their education.

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

Financial literacy significantly impacts work evolution and economic development by fostering a workforce that is better equipped to make informed financial decisions, leading to increased productivity and innovation. When individuals understand financial concepts such as budgeting, investing, and retirement planning, they can manage their personal finances more effectively, reducing stress and enhancing job performance. This financial competence translates into a more stable and motivated workforce, capable of pursuing entrepreneurial ventures and contributing to business growth. Additionally, financially literate employees are better prepared to navigate economic fluctuations, which strengthens overall economic resilience. As businesses thrive and new enterprises emerge, job creation and economic development follow, creating a positive feedback loop that supports sustained economic growth and prosperity

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

02.10.01 My startup contributes to the Reduced inequalities goal

1 - Strongly Disagree

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

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.

1 - Strongly Disagree

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

7 - Strongly Agree

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.

4

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.

7 - Strongly Agree

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

1 - Strongly Disagree

06.08 Justification for my startup

As a pioneering Fin-Ed-Tech startup, Learn’kap's innovative offerings have positioned us in a unique space where financial education for the target community is primarily covered by social media and financial institutions. LEARN'kap provides unique and innovative approaches to the community with well-structured, comprehensive, contextualized, and accessible content for citizens of all ages.

06.09 Competitive Analysis

Currently there are no direct competitors offering a comparable blend of cutting-edge technology for financial education. Nevertheless we count indirect competitors such as: Educational Institutions and Traditional Financial Institutions While there may not be direct competitors, Learn’kap recognizes the presence of indirect competition from traditional financial institutions and educational institutions. These entities provide some form of financial education, although not as comprehensive, engaging, or accessible as what Learn’kap offers.

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