Tanzania - Startup under 3 years old

Describe your project or startup in a few words

Koba is the Mobile app that provide innovative and accessible solution to the challenge facing under-served communities. Koba come from the word Vicoba where group of people come together and form informal landing group.It provide digital space for groups

01.01 Describe your startup in more detail

Koba is Mobile applications is designed to facilitate community base financial cooperation. The app simplifies group saving, lending and financial management for users, enabling them to contribute collectively and access funds seamlessly.

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

In many communities, accessing financial services is challenging, KOBA addresses this by providing a platform for group to save, lend, and manage finances collaboratively, promoting financial inclusion.

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

1. Group saving and Efficient Landing: KOBA allow users to form savings groups, making contributions easy and efficient thought the app, The app automate the landing process, ensuring that each group member has a fair chance to receive loan when needed. 2. Instant Notifications: User receive instant notifications about group activities, such as contributions reminder, loan approval and payment schedule. Koba also serves as a central communication hub for group member to stay connected to informations. 3. Seamless Loan Applications: Group member can submit loan applications directly through the app, eliminating the need for cumbersome paperwork. The app streamline the loan approval process, providing quick access to funds when emergencies arise. 4.Community forum: Koba offers a community forum where users can engage in discussions on financial topics, share tips and advice, connect with follow group members. It also provide the financial resources to enhance users' financial literacy

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

Koba target underserved communities with limited access to formal financial services not only that but also Koba can cater to financially vulnerable groups, such as small businesses, women entrepreneurs, and low-income individuals, who require access to affordable savings and credit solutions.

01.05 When was your company established?

2023-05-12

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

2

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.)

Erick is currently working as MIS Officer and Software Developer at Oletech Co. Ltd, Possess over 3 years of International Cross-function experience in technology and innovations, Also specialised in Management of Information Systems (MIS) and Software development, and highly experienced working with a wide range of cultures, and significant delivering result within organization. Bachelor’s degree in Computer Science from University of Dar es Salaam with experience in Management of Information System and Software development.

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

https://www.koba.co.tz/

01.11 Which industry best describes your project?

g) Financial services

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Koba Mobile application streamline group financial activities, offering digital space for members to contribute funds, apply for loans, and track financial activities. Therefore the app facilitate the financial growth of each group member(individual) and possibilities of accessing credit from group.

02.02.01 My startup contributes to the Zero hunger goal

6

02.02.02 Zero hunger - Justification for my startup

Basically if a person is capable of accessing credit, savings and loans without limitation means its easy to eradicate Hunger, so Koba facilitate users by giving them digital space where they can collectively contribute and share wealth.

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

6

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

During emergencies such as Health issues, Koba help user to access funds instantly from group where it will help to cover their health issues.

02.04.01 My startup contributes to the Quality education goal

6

02.04.02 Quality education - Justification for my startup

Koba gives user the ability to access fund instantly from group contributions where its possible to pay school fees whether its emergency or its planned.

02.05.01 My startup contributes to the Gender equality goal

6

02.05.02 Gender equality - Justification for my startup

Koba can cater to financially vulnerable groups, such as small businesses, women entrepreneurs, and low-income individuals, who require access to affordable savings and credit solutions.

02.06.01 My startup contributes to the Clean water and sanitation goal

6

02.06.02 Clean water and sanitation - Justification for my startup

The app streamline the loan approval process, providing quick access to funds when emergencies arise where it open endless possibility of having Clean water and Sanitation

02.07.01 My startup contributes to the Affordable and clean energy goal

5

02.07.02 Affordable and clean energy - Justification for my startup

The app streamline the loan approval process, providing quick access to funds when emergencies arise where it open endless possibility of having affordable and clean energy

02.08.01 My startup contributes to the Decent work and economic growth

3

02.08.02 Decent work and economic growth - Justification for my startup

Koba facilitate economic growth where individual from under-served communities can access loans to peer group, Help them to get Capital and support the business.

02.09.01 My startup contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification for my startup

Koba help user to access fund seamlessly therefore its possible to user to innovate where he/she knows that has access to funds

02.10.01 My startup contributes to the Reduced inequalities goal

6

02.10.02 Reduced inequalities - Justification for my startup

Basically Koba aims to bridge the gap between financial services and those who need them the most, improving financial inclusion and economic empowerment worldwide

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

3

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

4

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

4

02.15.02 Life on land - Justification for my startup

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

3

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

4

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.

7 - Strongly Agree

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

4

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.

2

06.08 Justification for my startup

Koba transform informal landing group by giving them the digital space where they can collaborate by contributing funds, access loans and improve individual income, Basically koba come from Vicoba(Village community bank) where group of people come together and formulate landing group typical inform of rotating savings and credit associations

06.09 Competitive Analysis

The "Koba" mobile app is a financial tool designed to support group savings and lending activities, typically in the form of rotating savings and credit associations or informal lending groups. In our region I see M-Koba (Vodacom App) and Kikoba (Tigo app) as Giant competitors where they use USSD and Intergraded app to provide similar service.

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

Yes, In our communities there is this tendency that Vicoba is for Women and in that case there is large number of women who are engaging with vicoba(village community bank) and other informal landing group, Therefore since Koba provide digital space for Vicoba and other Informal landing groups we are directly supporting women/female and empower them to be enterpreneurs.