Eco-Pay

Stage of Idea start-up stage
This bar shows in a scale of 0-10 the Factor of an idea and his owner PROPORTIONAL TO ALL OTHER IDEAS AND OWNERS - 10 is the best, 0 is the worst value. The blue bar changes constantly due to the votes, comments, ratings and activities on this and other ideas.
1 10

Explain your idea in details:

In Uganda, over 20 million people live on less than USD 2.00 per day (World Bank). Many live in rural areas with little or no access to formal financial services. Only 35% populations of farmers are served by formal banks . Yet, Savings and Credit Cooperatives, the informal banking alternatives provide vital financial services to the remaining 65% farmers But in a fragmented, unsafe environment with limited linkages.Eco-Pay is a mobile "all-in-one" digital platform that is harnessing the power of mobile banking to facilitate delivery of financial services at the bottom of the pyramid of Uganda. Our solution;- is a low cost service-as-a-service delivery system embedded with Unstructured supplementary service Data {USSD}, SMS and mobile money services which enables farmers to connect with Savings and Credit Cooperatives {SACCO} and access financial services via mobile phone. Our product called MoBis, the Mobile Banking and Information Software is a win-win for both SACCOs and farmers. For the farmer, MoBis provides remote access to finances, using the USSD/ SMS (Unstructured Supplementary Service Data) on their basic mobile phones. By using mobile money through MoBis, farmers can ;- (1) track their savings; (2) request a loan; (3) repay that loan; (4) deposit savings; (5) view a mini-statement; and (6) withdraw their savings. For the SACCOs, using the MoBis platform not only involves digitizing and systematizing their operations, but also trains their employees in the software, migrates all of their data onto a single platform, and allows them to connect to the internet, so non-local managers or government officials can monitor the SACCOs remotely.Eco-Pay also works with SACCOs to put in place anti-corruption systems, giving managers and tellers different degrees of access to information. Our platform is , user friendly, affordable and tailor made to suit SACCO needs.

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Expected impact of your idea on sustainable development

An average SACCO in Uganda has a membership of 5000. There are over 10,000 registered Savings and Credit Cooperatives {SACCO} serving a total population of 18 million people who save and borrow from SACCOs. Eco-Pays biggest impact is to transfer the power to access financial services to the palm of the 65% unbanked individual rural farmers through the use of mobile phones they already have, the biggest infrastructure placed in their hands.In 2 years, Eco-Pay intends to enroll and enable a network of 100 Savings and Credit Cooperatives {SACCOs} reaching over 50,000 rural farmers who will be able to access an estimate of $15,000 in credit and financial records via their mobile phones. The project will also create jobs for over 1000 extension workers {farmers} within 2 years. The other part is to save the time and money farmers would spend going to SACCOs to check their balances or ask for the loans manually. Our solution reduces the risks of fraud and mismanagement of funds by 100%. The system reduces cash in the hands of individuals. We believe that access to finance is a human right. In Africa, especially, access to finance is as important as access to clean energy, water, health, information and education. In fact, one would say with utmost confidence that finance is an enabler for basic needs.

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Plans for implementation and sustainability

 1:Business Model. To ensure financial sustainability, SACCOs will pay an initial cost of $1,500 which covers {license, training, data migration, equipment and APN modems}. And Monthly SMS/Credit fee at USD$100, and Monthly Commission fees on monthly loan interest at a percentage fee between 0.05%-2.5%. Individual Farmers; pay annual membership subscription fee of USD$10, SMS/Credit charge at USD$ 0.09 per member and 0.05 cent for every transaction made by each farmer. Other revenue streams are 20% charge on advertisements. 2:Financing Source; Currently, we are seeking funding of USD 30,000+ to help us build our network of potential customers, grow the team, Research & Development, including product Development and perfection. By 2018, we hope to start generating revenue; in addition, we anticipate that by mid-2019 our revenue earnings will start to offset some significant Costs. We will however, only be self-financed beginning the year 2019 to 2020. Therefore in the beginning stages of our project, we intend to continue accessing grants and investments from like-minded partners. 3:Collaborators. Eco-Pay is currently  seeking to acquire and consolidate major partnerships; with 2 Telecommunication companies {MTN & Airtel} coming on board to extend 500 mobile devices to farmers and 300 computers to Savings and credit cooperatives , and we are negotiation with the Local government of Uganda to endorse our solution.These will bring the credibility and visibility that position us to revolutionize rural finance for the unbanked and undeserved bottom of the pyramid population in Uganda.

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Your profile

Trained as a social sciences professional, my name is Daniel Obua Ocari who holds B.A in social sciences from Makerere University, Kampala Uganda. I am 27 years old, and I come from Lira district in the post war affected Northern Uganda. I am a social worker by profession, and I formerly worked as a field officer under Gender Based Violence (GBV) prevention and response programme at Childfund international Uganda. I was born and raised in one of the poorest communities in Uganda, to a peasant family. As a teenager, I desired nothing less, but to break out of poverty to similarly contribute to poverty reduction in my own community. In 2016, I was selected as one of the Young African leaders at Young African Leadership initiative-Regional Learning Centers in Nairobi, Kenya{YALI-RLC}. My selection was based on my proven leadership and committed to bringing lasting change in my community. Upon my return, I set-out on a journey to understand significant issues faced by farmers; and found that its about infrastructuremore than clean water, sewers, reliable electricity. Financial infrastructure is a big component. Across all regions, farmers faced a challenge with accessing sustainable food market and finance to boast food production. These disturbing discoveries compelled me to founder Eco Pay. Currently, In my role I am doing programming and providing directive through team collaboration and Networking to a team of software developers in building the iterative functionality of a platform to address challenges facing informal financial institutions by making them more accessible to a wider audience at the bottom of the pyramid. I am also designing the project activities, and as well recruiting and managing a team of skilled employees while aligning and driving the company's core objectives towards achieving the 2030 sustainable, regional economic and social development goals.

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Location Map

Comments

September 1, 2017 00:10

Thank You my fellow traveler!
All good things have an end, right!!
I must say that I found your idea truly inspiring. I would like to know more about it? Do you think you can give me more details about your proposal so I can understand it more and give ffedbakc as well as evaluate if it can be done in my country?
Have a great life ahead of you
SHUHRA

August 31, 2017 23:15

Hello my fellow traveler, How are you feeling as our road ends temporarily?
I have just seen your entry and have been thoroughly impressed by it. Will you be willing to collaborate incase you want to set it up on ground?
I would like to be in touch with you,
Cheers from Kabul.
Shuhra

August 31, 2017 22:02

Hello fellow passenger,

You might have heard the famous song "What I've done" by Linkin park. The lyrics have been beautifully carved by the late singer Chester Bennington. The song covers the ways in which our so called development has helped only a handful of the upper society members, whereas people are still living in poverty.

We have a great platform here which is urging super brains from around the world to come together and collaborate with their ideas and help make this world a better place to live in. You have been a part of this community and I congratulate you on your effort that you have put in.

Thanks once again and all the best for the future
Regards,
Team GreenSpace

August 31, 2017 21:25

There are just a few hours before the end of this wonderful competition and I want to thank you for all you did here, especially your contribution to my project. Best wishes for all your future endeavors and never give up on your dreams! Be a dreamer! That is the most important characteristic in life!
Best regards,
Andrei

August 31, 2017 20:56

hi,
All the best for your project.As today is the last day of competition I am glad that I was able to read your mind blowing project.
Best wishes for your success and thank you so much for your support on my project.

August 31, 2017 20:24

Comrades,
In this fight for a sustainable future, what we need is innovation; something which is not necessarily new, but which makes us look at things from a different angle.

I believe this is one of the major motives of this community which we are a part of. Taking one step together hand in hand towards our goal is the only way we can achieve it.

So I wish you the very best in this endeavour of yours and hope to see you together in the new tomorrow

Regards,
Team GreenSpace

August 31, 2017 17:25

Yes, it was a wonderful journey !
a. Reading them gives me good bumps. Will you be able to give me some more details about your proposal?
b. Also, please go through my IDEA called EDU-CELL and if you like it, please vote.
c. This is what I could think when I saw your proposal. Truly inspirational and positive initiative from your side that is sending ripples amongst my friends and relatives. If you think it will be applicable in Afghanistan, please send me the details.
Thank You !
Truly, Shuhra K, Afghanistan

August 31, 2017 16:52

What a journey! I am truly amazed.
I read so many good thoughts including yours. UNESCO did a truly amazing job. And if you have already not read it, wont it be great if you have a quick glance at my IDEA called EDU CELL.
Bye for now!
Shuhra (Kabul)

August 31, 2017 16:25

THANK YOU!
THANK YOU FOR READING MY PROPOSAL. I HAVE READ AND EVALUATED YOUR INITIATIVE AND I CANNOT BUT HELP GIVING IT MY HIGHEST COMPLIMENTS. HOW DID YOU MANAGE TO THINK OF SUCH A WONDERFUL IDEA, I WONDER?
ONCE GAIN A BIG THANK YOU FROM MY SIDE.
SK

August 31, 2017 13:58

Hello!
There are less than 12 hours before the end of this competition and we speak about the last day, last changes.. last comments. It is very exciting and I congratulate you for all the activity and time you put into this. I wish you good luck for your future plans! Keep dreaming!
Best regards,
Andrei

August 31, 2017 09:50

Hi, it's great to read your innovative idea which could help our community in different aspects. It is not easy to go through all the stages and congratulation for your great ideas, hope to see your idea will come true soon.
I would like to invite you to read, comment and even vote for my idea 'Boosting economic growth in Africa with solar energy'. If you find it great, please also share it with your friends. Thank you very much.

August 31, 2017 07:47

Dear Leader,

We are coming to the end of this awesome competition and I appreciate your efforts, drive and support on my idea, 'AfricEnergy'.

No matter how the result comes out, we should always be focused on implementing our unique ideas and projects for the improvement of the World.

Thank you for your contributions, advice and encouragement so far. I hope to connect with you via [email protected]

Best of Luck!

August 30, 2017 15:26

Hello,
Thank you for all comments and votes and for your effort you have put into this community! There are less than 48 hours before the end of this competition and I encourage you to not give up! Keep alive your dreams!
Best wishes and good luck for the implementation of your idea!

August 30, 2017 06:31

Greetings my Colleague ,

Thank you for participating in that great event , it was a great nice Journey , but the best thing of it is meeting good friends here , I hope you achieve your dreams & good luck with your Idea.
thanks again & best wishes for you.

Ahmed

August 30, 2017 02:40

Hello,

This entrepreneurship-campus platform has been amazing it has enabled us to see all the enthusiasts and to share our passion and experiences to learn from each other. Good luck with your work and wishing you all the success on your journey. Please try to keep in touch; this is important to me as I find this inspirational.

I appreciate all your votes, valuable feedback, advice, and suggestions. For me it has helped me to improve my ideas and also helps me to win and learn from the ideas that you have given me.

Best of Luck! And keep it up

Kindest regards

August 29, 2017 03:06

Hello everyone,

Now we are reaching the end of the competition. I want to thank everyone who have been voting and commenting on my ideas and interest in helping support GU.

As all of you said, a visual universal language is needed for this continuously developing society. I am trying my best to launch my Gadaa Universe with the help of you and your constructive comments. We will do whatever it takes to exceed your expectations.

Best of Luck! And keep it up

Kind regards

August 28, 2017 11:53

Hello,
Being a part of India's well known Entrepreneurship Cell of the most prestigious engineering college in India, I have interacted with many startup enthusiasts, have got to know how they think and what are some qualities that set them apart from the ones who are not able to see their idea through. Reading through your idea, I have realised that your idea has that spark which can help it become a successful venture. Coupled with its aim to help the society achieve its goals sustainably, your idea can be something quite helpful for the same.

But before it's implementation, you need to do a "pre-mortem" check on how it can fail. This would prepare you for any uncalled-for circumstances and help you prepare for them accordingly.

Lastly, I would like you to have a look at our idea, GreenSpace, and share your views about the same.

Regards,
Team GreenSpace.

August 28, 2017 01:07

Dear Entrepreneur,

It's a new day and few days to the end of the competition. It has been nice and encouraging having you here, on this platform. I wish to appreciate you.

Best of Luck!

August 27, 2017 16:58

Hello dear members of the entrepreneurship community,

I hope you will join us too and learn the GU universal communication system and the Gadaa system practices when the platform and the system implementations are complete and fully ready for use. This work is still under development. I will let you know once it is finished.

Please keep your constructive comments. Your feedback is important! Many thanks to all contributors!

Thank you for supporting GU project. We will notify you as soon as the platform is live.

Best of Luck!

August 27, 2017 01:47

Hello Great Mind,

You have come a long way with this competition and I want to congratulate you for the resilience you have show so far. I tell you what? It's not going to go unrewarded.

Bill Gates has said that "As we look into the next century, leaders will be those who empower others." I totally agree with the successful software developer!

With that, I want to honestly congratulate you once more for been a leader, especially such that will empower others!

You're relevant and I wish you the best with your project.
I wish that we could network beyond the competition,

Kindest regards,
Seth Thomas
CISTEM
([email protected])

August 26, 2017 20:15

Hello,

To all the people who are asking how to join once the GU platform goes live, all you need to do is to create a free account. Please keep an eye out on the website and my social media pages at: http://gadaauniverse.com/

Kind regards

August 26, 2017 16:40

Hello Great Mind!

Thank you for your support to AfricEnergy so far. I appreciate your kind words, positive remarks and contribution on my idea. As you continue to progress in your quest for the improvement of the World, I wish you success and breakthrough.

Best of luck!

August 26, 2017 16:40

Hello Great Mind!

Thank you for your support to AfricEnergy so far. I appreciate your kind words, positive remarks and contribution on my idea. As you continue to progress in your quest for the improvement of the World, I wish you success and breakthrough.

Best of luck!

August 25, 2017 11:19

Dear Daniel,

The TRUTH is, your community will not just benefit from such an amazing initiative of yours but that you will forever be remembered for this great change and transformation you'll cause.

Keep up the spirit because it's adorable.
Your kind is scarce, so hard to find around, you're indeed a great leader!
Wish you all the best world changer.

Kindest regards
Thomas Seth
CISTEM

August 25, 2017 08:07

Hello Daniel!

Thursday's Inspiration from YCEC; 'The more I want to get something done, the less I call it work.' - Richard Bach

As you progress in working hard to see to the improvement of the World through your idea, I wish you success and breakthrough.

Best of Luck!

August 24, 2017 16:22

Dear community member,

As the competition deadline is approaching near, we would like some feedback regarding our idea, some ways by which we can tweak it and make it a little better and ready for future execution.
(follow this link https://www.entrepreneurship-campus.org/ideas/12/5961/comments)

Please vote and support our idea.

Thank you in advance.
Team GreenSpace

August 23, 2017 19:42

Greetings from a same journey woman!
While reviewing the ideas and projects, I stopped at your proposal. I have gone through it but I feel I need more information, especially about the financial aspects. Do you think you can provide that to me? Secondly, if you need any assistance or more information about my idea, kindly let me know after checking out my idea: EDU-CELL in AFGHANISTAN.
Looking forward to hearing from you!
SK

August 23, 2017 13:26

Hello
As we are about to the very end of this competition I give you a bit of encouragement and yet the fact. The competition may reach to an end but the efforts you have shown to your community is great and long lasting, People may come and go but ideas stays forever. This platform is like a family or a classroom where we share all our strength and experience to solve Community challenges.
Your idea is real life touching and I hope you're making more good progress to take it into its full potential no matter what challenge you may face..Never give up.
You may wish to share your experience in my idea
ZERO HUNGER IS POSSIBLE FOCUSING FROM LOCAL COMMUNITY LEVEL
Best of luck!
Uledi Kimbavala
"ZERO HUNGER IS POSSIBLE"

August 23, 2017 11:03

Hi,
After going through your idea, I firmly believe that you can successfully convert it to an executable project and help the society grow in a sustainable manner. I wish you the best for the same.

I would really appreciate if you could go through my idea as well(follow this link https://www.entrepreneurship-campus.org/ideas/12/5961/comments). Our idea deals with covering an otherwise unused rooftop of a building with green plants, and using that space for a multitude of activities. This would have various positive effects on the environment and also the society in general.

Thank you
Team GreenSpace

August 23, 2017 08:44

An Awesome Day to You, Dear Campus Colleague,

Cheeking through your idea and seeing it progress in this competition leaves me motivated and inspired that with us, our planet will become better and flourish in goodness and development desired by every human being with dreams and aspirations. To keep you moving and staying on in face of challenges as growing Entrepreneurs, it is my pleasure to share this link with you, "7 MOVIES Every Entrepreneur Should Watch", copy and paste this link to view; youtube.com/watch?v=s3x-_yRRUrk

All the best to you in you Idea!

Cheers
Anita Mbah.

August 22, 2017 13:06

Thank you Daniel.

Having you around is very encouraging and wonderful. I wish you success on your journey and you should always expect the best coming your way.

You may like to see my idea, AfricEnergy, for comments and support.

Cheers.

August 22, 2017 05:54

My dear Daniel
I hope you're making good progress whether the competition is on progress or not, this idea of yours should make more progress towards its implementation. Congulatulation for your efforts. Never give up.
Best of luck!

August 21, 2017 16:08

Hi,
Thank you if you have already commented my idea Path To Knowledge. If not, I invite you kindly to do it at: https://www.entrepreneurship-campus.org/ideas/12/5633/ I would really appreciate your opinion.
Best regards,
Andrei

August 21, 2017 15:58

Hii,

your idea is a very impressive and it will surely be beneficial for all the people..
It looks promising and executable.
Congratulations for all your efforts that you have put into your project.
Good luck
Regards

August 21, 2017 15:58

Hii,

your idea is a very impressive and it will surely be beneficial for all the people..
It looks promising and executable.
Congratulations for all your efforts that you have put into your project.
Good luck
Regards

August 19, 2017 22:54

Hello,

I invite you kindly to please read and give some suggestions or comment my idea GadaaUniverse[GU]-Gadaa Universal Communication System and GU-Fair. I really appreciate your contribution and would be glad to hear your advice and opinion.

Good luck with your work!

Kind regards,

Firanbek Robele

August 18, 2017 14:54

Please read my idea edu-cell and give some suggestions on my idea if any ?
Community effort is always welcome.
I find your entry extremely interesting indeed.
Thanks for reading my request!
THANKS IN ADVANCE FOR PUTTING THE EFFORT IN ANSWERING MY QUERY!

August 18, 2017 09:41

Hello,
I invite you kindly to comment my idea Path To Knowledge. I would be glad to hear your advice. I have written this message after I commented almost all ideas and projects and probably yours too. I am deeply sorry if this message bothered you, but everyone on this platform wants to go to the finals with his/her idea and makes all it is possible to get there. Maybe not all the actions are fair. Some participants copies the same meaningless message and paste it to all ideas. I just do marketing. Again, I am sorry if this message disturbed you.
Kindest regards,
Andrei

August 17, 2017 17:32

Hello Daniel!

Your idea is interesting, as it aims to provide financial knowledge and services to people, especially farmers. It tends to bring a mobile banking system to their doorstep. Congratulations for your effort.

I wish you success and you can stop by on my idea to add your contribution.

Best of luck!

August 8, 2017 12:32

Hi Daniel,

Congratulations on your idea, I wish you the very best with it.
It's very innovative and has a lot of potential in becoming a very helpful project for your country.

I wish you the best with it.
Kindest regards,

Seth

August 8, 2017 09:06

Your idea is really helpful for the society in Uganda, and there are a lot of bottom pyramids in many countries so I hope your idea will be extended in the future. Because it is an mobile app, it should have a considerable promotion. How will you do the marketing campaign among the poorest?
Regards,
Andrei

August 7, 2017 12:47

Hy
Congregation on such a wonderful idea.these informal and rural framers need to be taken care of.if you could add giving them workshops that will teach them how to manage and invest their financials.I wish you all the best.
Please care to give advise on my idea
Kind regards

June 6, 2017 09:57

Hello Daniel,

All the best wishes for your project...And Congratulations for your efforts. I just want to ask one thing that you thought of providing these services to a particular location or would you expand this as well.

Regards

May 16, 2017 03:32

This idea will really change the state of financial services in developing countries.The sustainable development goals will be set if such ideas are incorporated in other sectors of life such as healthcare , engineering ,climate etc

April 17, 2017 13:23

Hello Yoke

Great concern coming from you and I highly appreciate, well we have one or two competitors in the Ugandan financial inclusion market sector, However-These compeitors are designed for commercial banking purposes and are very expensive.

Eco-Pay, is the only customized Mobile banking platform that is enabling farmers at the BoP Market. The solution is affordable and convenient for our clients.

April 16, 2017 00:41

Hi Daniel,

Great idea! I would like to ask if there are any similar mobile platforms in Uganda. If so, how is your mobile platform different to the others?

Cheers
Yoke

April 14, 2017 13:53

Thank,Mr Ogusanya

Eco-Pay, does not give out loans, But rather connects farmers based in the rural communities through its platform called {MoBis } to access financially services from their very own groups called Savings and Credit Cooperative.

Our model is "Service-as-a-service" system. therefore our ultimate goal is to connect client "A" to client "B" more less "Business-2-Business" approach. people who already know each other.

April 14, 2017 13:29

This is good, but I hope you will be able to manage and control the rate at which loans will be taken, because, the more money you have, which can be circulated, determines how long your idea, if implemented, would last.

April 13, 2017 09:52

Amy

over 65% farmers in Uganda can not afford to process loans from formal banks in Uganda, simply because formal Banks have unfavorable terms that do not support majority population of farmers.for instance loan interest rates are at not less than 20%

Savings and Credit cooperatives on the other hand are the immediate banking alternatives that these farmers access finances from,These institutions take money and give loans to farmers at affordable rates but using traditional tools like:-ledger books to record transactions and cash boxs to store farmers money. Their Eco-system is therefore prone to error and risk of theft of farmers money.

Eco-Pay, is mobile banking platform that enables rural farmers to access finances from their local banks popularly known as "Savings and Credit Cooperatives",-Our solution is simply digitizing the SAVINGS AND CREDIT COOPERATIVES SYSTEMS,to make handling transactions easy,safe and affordable for both the farmers and the SACCOs.