Uganda - Business creation project

Décrivez votre projet en quelques mots

Myvazi is an online marketplace that intends to leverage the power of ecommerce to enable small and micro business owners mainly in the informal sector access quality health care through medical insurance.

01.01 Décrivez votre projet en détail

Small businesses employ up to 90% of Uganda’s workforce and yet small business owners are still without any form protection and are expected to rely on their business earnings directly to foot things like medical bills leaving them very vulnerable. Leveraging over 10 years’ experience in ecommerce, finance and insurance expertise we intend to build an online marketplace that provides medical insurance cover to vendors/small businesses owners on the platform. With e-commerce we shall provide the small business owner a low cost means to grow their business and from this revenue we shall charge a 12% service commission part of which will be used to pay the vendors’ premiums. The platform will also allow the vendor to get medical cover for family immediate members at a subsidized rates depending their business performance. This way we shall be able to protect small businesses from big cash ejections every time the business owner or their immediate family members are sick

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

The main problem Myvazi aims to solve is the lack of affordable and accessible healthcare for small and micro business owners in Uganda's informal sector. These business owners, who employ up to 90% of the workforce, often face financial vulnerability due to high out-of-pocket medical expenses. Without any form of health protection, they must rely on their business earnings to cover medical bills, which threatens their financial stability and business continuity. By leveraging e-commerce, Myvazi provides a low-cost means for business growth while using part of the service commission to pay for vendors' medical insurance premiums. This innovative solution not only ensures the health and financial security of business owners but also supports the economic growth of the informal sector.

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

Myvazi offers several key benefits for small and micro business owners in Uganda's informal sector. 1. Access to quality and affordable healthcare for small and micro business owners through medical insurance; reducing the financial burden of medical expenses on the business and ensuring business continuity. 2. A low-cost means for business growth; By leveraging e-commerce, Myvazi enables business growth at a low cost, expanding market reach and increasing revenue. 3. Subsidized access to medical insurance for business owners' immediate family members; vendors can obtain subsidized medical coverage for their immediate family members based on business performance, promoting overall well-being. This comprehensive approach not only protects businesses from financial shocks due to health issues but also fosters economic growth, stability, and improved quality of life for the community.

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

Myvazi is specifically aimed at serving small and micro business owners operating within Uganda's informal sector. Starting with those in the fashion and apparel sector. These targeted beneficiaries include entrepreneurs and vendors who often lack access to affordable healthcare and face financial instability due to high medical expenses. By focusing on this underserved segment, Myvazi seeks to provide them with a platform to grow their businesses through ecommerce, while simultaneously offering medical insurance to protect their health and financial well-being. Additionally, the project extends benefits to the immediate family members of these business owners by providing subsidized medical coverage based on business performance. Overall, Myvazi's primary beneficiaries are the small and micro business owners and their families who are integral to Uganda's economy but are often vulnerable to health-related financial shocks.

01.05 Quand avez-vous commencé à travailler sur votre projet ?

06/03/2024

01.06 Combien y a-t-il de propriétaires sur votre projet en plus de vous ?

2

01.07 Parmi les autres propriétaires, combien sont des femmes ?

1

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

Sanyu Anna Maria, a 32 year old financial advisor, with more than 10 years experience in banking and social security fund management. A certified project management and life insurance professional.

01.09 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://myvazi.com/

01.10 Quel est le secteur d'activité qui décrit le mieux votre projet ?

f) Soins de santé (équipements et services de santé)

02.01.01 Mon projet contribue à l'objectif 'Pas de pauvreté'

6

02.01.02 Justification de la contribution de mon projet

Myvazi contributes significantly to the goal of ending poverty by empowering small and micro business owners in Uganda's informal sector. These businesses, which employ up to 90% of the workforce, often operate with limited financial resources and lack access to affordable healthcare. By providing an online marketplace that facilitates business growth at a low cost and integrates medical insurance coverage, Myvazi helps to stabilize and increase the income of these business owners. This approach not only supports economic growth and job creation but also mitigates the financial risks associated with healthcare expenses, thereby reducing the vulnerability to poverty. The platform's ability to provide medical insurance and subsidized healthcare for vendors and their families further enhances their economic security and quality of life, contributing to the overarching goal of ending poverty.

02.02.01 Mon projet contribue à l'objectif 'Faim Zéro'

5

02.02.02 Justification de la contribution de mon projet

While Myvazi's primary focus is not directly on food security or agriculture, it indirectly contributes to the Zero Hunger goal by improving the economic stability of small and micro business owners in Uganda's informal sector. By providing a platform that enables business growth and offers medical insurance, Myvazi helps increase the disposable income of these business owners. With better financial stability and reduced healthcare costs, these business owners are more likely to afford nutritious food for themselves and their families. Additionally, the economic growth stimulated by Myvazi can have a ripple effect on local markets, potentially enhancing food security within the community. Therefore, while Myvazi's direct impact on ending hunger may be limited, its contributions to economic stability and improved livelihoods support the broader goal of achieving food security and improved nutrition.

02.03.01 Mon projet contribue à l'objectif 'Bonne Santé et Bien Être'

7 - Tout à fait d'accord

02.03.02 Justification de la contribution de mon projet

Myvazi directly contributes to the Good Health and Well-Being goal by providing affordable and accessible medical insurance to small and micro business owners in Uganda's informal sector. By integrating health coverage into the platform's business model, Myvazi ensures that business owners and their immediate family members have access to quality healthcare. This reduces the financial burden of medical expenses, allowing them to seek timely medical attention and preventive care. Furthermore, the provision of subsidized medical coverage based on business performance incentivizes continued engagement with the platform, fostering a culture of health and well-being. By protecting small business owners from the financial shocks associated with healthcare costs, Myvazi not only improves their health outcomes but also promotes overall well-being and economic stability within the community.

02.04.01 Mon projet contribue à l'objectif 'Éducaiton de Qualité'

5

02.04.02 Justification de la contribution de mon projet

While Myvazi is not primarily focused on education, it indirectly supports the Quality Education goal by enhancing the economic stability of small and micro business owners. With improved financial security due to reduced healthcare costs and increased business revenue, families are more likely to invest in their children's education. This can lead to higher school enrollment rates and better educational outcomes. Additionally, by promoting lifelong learning opportunities for business owners through the platform, such as training on e-commerce and business management, Myvazi fosters a culture of continuous education and skill development. These indirect contributions support the broader goal of ensuring inclusive and equitable quality education for all.

02.05.01 Mon projet contribue à l'objectif 'Égalité entre les Sexes'

6

02.05.02 Justification de la contribution de mon projet

Myvazi empowers women entrepreneurs on the platform by providing a low-cost e-commerce platform, facilitating business growth and financial independence. Access to medical insurance ensures women and their families receive quality healthcare, reducing financial vulnerability due to health-related crises. The ability to extend medical coverage to immediate family members at subsidized rates supports women in their caregiving roles. By addressing these critical needs, Myvazi encourages more women to participate in the business sector, contributing significantly to gender equality through economic empowerment and improved health security. While not exclusively focused on gender equality, the project's impact on women's financial and health security merits a strong score.

02.06.01 Mon projet contribue à l'objectif 'Eau Propre et Assainissement'

2

02.06.02 Justification de la contribution de mon projet

none

02.07.01 Mon projet contribue à l'objectif 'Énergie Propre et Abordable'

2

02.07.02 Justification de la contribution de mon projet

none

02.08.01 Mon projet contribue à l'objectif 'Travail Décent et Croissance Économique'

6

02.08.02 Justification de la contribution de mon projet

Myvazi contributes significantly to the Decent Work and Economic Growth goal by creating opportunities for small and micro business owners in Uganda's informal sector. The platform promotes sustained and inclusive economic growth by providing a low-cost means for business expansion through ecommerce. This leads to increased employment opportunities as businesses grow and require additional workforce. Moreover, Myvazi's model of charging a service commission and using part of it to pay for vendors' medical insurance premiums ensures decent work by supporting the financial stability and well-being of these business owners and their employees. By fostering a conducive environment for business growth and employment, Myvazi contributes to the overall goal of promoting sustained, inclusive, and sustainable economic growth.

02.09.01 Mon projet contribue à l'objectif 'Industrie, Innovaiton et Infrastructure'

6

02.09.02 Justification de la contribution de mon projet

Myvazi significantly contributes to the Industry Innovation and Infrastructure goal by building a resilient digital marketplace infrastructure that supports small and micro-businesses. By leveraging e-commerce, Myvazi promotes inclusive and sustainable industrialization, providing a platform for business growth and innovation. It enables small business owners to reach wider markets and improve their operational efficiency. Additionally, the integration of medical insurance as part of the platform is an innovative approach that enhances the sustainability and resilience of small businesses. While Myvazi focuses on digital infrastructure rather than physical, its impact on promoting industrialization and fostering innovation is substantial.

02.10.01 Mon projet contribue à l'objectif 'Réduction des Inégalités'

6

02.10.02 Justification de la contribution de mon projet

Myvazi contributes significantly to reducing inequalities by providing small and micro-business owners, particularly those in the informal sector, with access to e-commerce and affordable medical insurance. By enabling these entrepreneurs to grow their businesses and secure health coverage, Myvazi helps level the playing field, offering opportunities that might otherwise be inaccessible. The platform's focus on financial inclusion and health security directly addresses economic disparities and promotes social equity. While Myvazi primarily operates within Uganda, its model can potentially be replicated in other countries, further contributing to global efforts to reduce inequalities.

02.11.01 Mon projet contribue à l'objectif 'Villes et Communautés Durables'

5

02.11.02 Justification de la contribution de mon projet

Myvazi contributes to the Sustainable Cities and Communities goal by promoting economic resilience among small and micro-business owners in urban areas. By providing a platform for business growth and integrating medical insurance, Myvazi helps build financial stability and health security, which are essential for resilient communities. However, the project's primary focus is on economic and health empowerment rather than directly addressing urban planning, housing, or environmental sustainability. Thus, while it supports some aspects of sustainable communities, its contribution is moderate.

02.12.01 Mon projet contribue à l'objectif 'Consommation et Production Responsable'

4

02.12.02 Justification de la contribution de mon projet

02.13.01 Mon projet contribue à l'objectif 'Luttle contre les Changements Climatiques'

4

02.13.02 Justification de la contribution de mon projet

02.14.01 Mon projet contribue à l'objectif 'Vie Sous-Marine'

2

02.14.02 Justification de la contribution de mon projet

02.15.01 Mon projetp contribue à l'objectif 'Vie Terrestre'

2

02.15.02 Justification de la contribution de mon projet

none

02.16.01 Mon projet contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

2

02.16.02 Justification de la contribution de mon projet

none

02.17.01 Mon projet contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

5

02.17.02 Justification de la contribution de mon projet

none

05.01 Il existe un grand nombre de clients qui utilisent déjà un produit/service très similaire à celui que nous envisageons de créer.

1 - Pas du tout d'accord

05.02 Le produit/service que nous voulons créer représente un type de produit/service entièrement nouveau

6

05.03 Le produit/service que nous voulons créer pourrait être décrit comme une nouvelle technologie

5

05.04 Le produit/service que nous voulons créer est une amélioration d'un produit ou d'un service existant

5

05.05 Le produit/service que nous voulons créer pourrait être décrit comme une extension d'une gamme de produits ou de services

5

05.06 Le produit/service que nous voulons créer 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

05.07 Le produit/service que nous voulons créer est une nouvelle version d'un ancien produit/service

2

05.08 Justification de mon projet

05.09 Qui sont vos principaux potentiels concurrents et qu'est-ce qui vous différencie d'eux ?

Telcos and Insurance companies are some of our potential competitors but our investment and interest in the business' growth by leveraging e-commerce makes us unique and more beneficial to our target market

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

yes, we encourage women to embrace e-commerce through our trainings