Zambia - Startup under 3 years old

Décrivez votre projet en quelques mots

Avofin is a pioneering Zambian neobank for the unbanked and underbanked in emerging markets.

01.01 Décrivez votre startup en détail

Avofin is dedicated to tackling financial exclusion by providing accessible digital financial services in emerging markets like Zambia. Through its innovative platform, Avofin aims to empower the unbanked and underbanked populations, enabling them to access essential financial services conveniently via mobile phones, including USSD applications. By bridging this gap, Avofin not only enhances economic opportunities for individuals but also contributes to broader societal development by promoting financial inclusion and driving economic growth in underserved regions. Through our user-friendly interface and commitment to financial empowerment, we aim to bridge the gap between the excluded and formal financial systems, ultimately creating a more inclusive and prosperous future for all.

01.02 Quel est le problème principal que vous essayez de résoudre ?

The pain point being addressed is vast and severe. Globally, over 1.7 billion people lack access to financial services. In Africa, 57% of the population, equivalent to 95 million people, lack traditional bank accounts. This exclusion significantly impacts the 40 million SMEs in Sub-Saharan Africa, creating a staggering $331 billion financing gap. We're tackling the pervasive issue of financial exclusion. Millions worldwide lack access to basic financial services, hindering economic participation and growth.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service fourni par votre startup (au moins 3).

Avofin provides several major benefits and advantages for its users, including: Accessibility: Avofin's digital financial services are easily accessible via mobile phones, including through USSD applications. This ensures that even individuals in remote or underserved areas can access essential financial services without needing a traditional bank account or internet connection. Convenience: Users can perform a wide range of financial transactions, such as savings, payments, and accessing credit, directly from their mobile devices. This eliminates the need to visit physical bank branches, saving time and making financial management more convenient. Financial Empowerment: By providing access to essential financial services, Avofin empowers unbanked and underbanked populations to better manage their finances, make informed financial decisions, and seize economic opportunities. This empowerment contributes to broader economic growth and societal development in emerging markets like Zambia

01.04 Veuillez décrire précisément à qui s'adresse le produit/service de votre startup. Quels sont les bénéficiaires visés ?

Avofin's product and services are specifically aimed at serving the unbanked and underbanked populations in emerging markets, with a particular focus on regions like Zambia. The targeted beneficiaries include: Individuals in Remote or Underserved Areas: People who lack access to traditional banking services due to geographical barriers or lack of infrastructure. Low-Income Individuals: Those who cannot afford the fees associated with conventional banking or do not meet the requirements to open a traditional bank account. Small Business Owners and Entrepreneurs: Micro and small-scale entrepreneurs who need accessible financial services to manage their businesses, save, make payments, and access credit to grow their businesses. Women and Youth: These demographics often face additional barriers to financial inclusion and can greatly benefit from Avofin’s accessible and user-friendly financial solutions.

01.05 Quand votre entreprise a-t-elle été créée ?

30/05/2023

01.06 Vendez-vous déjà votre produit/service ?

Oui

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

2

01.08 Parmi les autres propriétaires, combien sont des femmes ?

1

01.09 Veuillez décrire le profil des autres propriétaires de votre startup (compétences, expérience, etc.).

My Co-Founder, Choolwe Natala Lungu is a fellow chartered accountant with the Association of Chartered Certified Accountants UK (ACCA). She has over 14 years of experience in the financial functions of Manufacturing operations. She holds a professional qualification under the Association of Chartered Certified Accountants UK (ACCA) and is currently pursuing an MBA in finance. Choolwe Natala Lungu is also a member of the Zambia Institute of Chartered Accountants (ZICA) and the Forum for Zambia Women Accountants (FZWA).

01.10 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://www.avofin.io

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Services financiers

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

Avofin significantly contributes to the UN SDG number 1, "No Poverty," by addressing financial exclusion in emerging markets like Zambia. Our innovative digital platform provides unbanked and underbanked populations with essential financial services, including savings, payments, and credit, accessible via mobile phones and USSD applications. By enhancing financial inclusion, we empower small business owners and entrepreneurs to grow their businesses, create jobs, and increase incomes. Our services are affordable and accessible, ensuring even those in remote areas can participate in the formal economy. Avofin's efforts help individuals achieve financial stability and contribute to broader societal development, driving economic growth and reducing poverty.

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

4

02.02.02 Justification de la contribution de ma startup

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

4

02.03.02 Justification de la contribution de ma startup

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

4

02.04.02 Justification de la contribution de ma startup

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

4

02.05.02 Justification de la contribution de ma startup

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

4

02.06.02 Justification de la contribution de ma startup

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

4

02.07.02 Justification de la contribution de ma startup

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - tout à fait d'accord

02.08.02 Justification de la contribution de ma startup

Avofin contributes positively to UN SDG number 8, "Decent Work and Economic Growth," by fostering financial inclusion and economic empowerment in emerging markets like Zambia. By providing small business owners and entrepreneurs with access to crucial financial services such as credit and payments, Avofin helps create jobs and stimulate local economies. Our digital platform makes financial services accessible via mobile phones and USSD applications, enabling individuals to invest in their businesses and personal development. By including traditionally excluded groups like low-income individuals, women, and youth, Avofin promotes inclusive economic participation, innovation, and productivity, driving sustained, inclusive, and sustainable economic growth.

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

7 - tout à fait d'accord

02.09.02 Justification de la contribution de ma startup

Avofin supports UN SDG number 9, "Industry, Innovation, and Infrastructure," by leveraging digital technology to provide essential financial services in emerging markets like Zambia. Our platform fosters innovation by enabling small businesses to access credit, savings, and payment services, which are crucial for growth and competitiveness. By offering these services via mobile phones and USSD applications, Avofin bridges infrastructure gaps and promotes sustainable industrialization. We also support the development of resilient infrastructure by empowering entrepreneurs and SMEs, which drives economic diversification and technological advancement, contributing to inclusive and sustainable industrial development.

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

Avofin contributes to UN SDG number 10, "Reduced Inequalities," by providing accessible financial services to underserved populations in emerging markets like Zambia. Our digital platform ensures that unbanked and underbanked individuals, including low-income groups, women, and youth, have access to savings, credit, and payment services. By facilitating financial inclusion, Avofin helps bridge economic disparities and promotes equitable growth. Our services empower marginalized communities, enabling them to participate fully in the economy, reduce income inequality, and improve their economic prospects, thereby fostering a more inclusive and equitable society.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

4

02.11.02 Justification de la contribution de ma startup

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

4

02.12.02 Justification de la contribution de ma startup

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

4

02.13.02 Justification de la contribution de ma startup

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

4

02.14.02 Justification de la contribution de ma startup

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

4

02.15.02 Justification de la contribution de ma startup

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

4

02.16.02 Justification de la contribution de ma startup

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

4

02.17.02 Justification de la contribution de ma startup

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

7 = Tout à fait d'accord

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

2

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

1 - Pas du tout d'accord

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

7 - Tout à fait d'accord

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

5

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

7 - Tout à fait d'accord

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

4

06.08 Justification

Even with existing similar products, Avofin can differentiate itself through innovation, user experience, and tailored solutions. By understanding customer pain points and offering unique features, we can carve a niche, attract customers, and establish brand loyalty.

06.09 Analyse compétitive

Avofin's main potential competitors include traditional banks, other fintech startups, and mobile money providers. What sets us apart is our focus on serving the unbanked and underbanked with tailored digital financial services accessible via mobile phones. Our user-friendly interface, innovative features, and commitment to financial inclusion differentiate us, offering a seamless and empowering experience for our customers.

11.05 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?

Yes, at Avofin, we're actively involved in promoting the role of female entrepreneurs in our community. We support by sponsoring initiatives such as mentorship programs, networking events, and educational workshops specifically tailored to women in entrepreneurship. Additionally, we prioritize gender diversity in our own workforce and leadership positions, creating an inclusive environment where female entrepreneurs can thrive and succeed. By empowering women in business, we contribute to economic growth, innovation, and social progress in our community.