Baluwo
Problem
In many cases, migrants are unaware of how their family members use the money, sometimes leading to constant demands from family members to send more money. This generates a lot of frustration and suffering among migrants.
In addition, many products are not tailored to the needs of migrants (high fees with little value added, requiring high down payments). This, coupled with the fact that in rural areas of West Africa there is very low digitalization and banking and a shortage in the supply of basic products and services (electricity, health, education, communications...) means that the purchase of many products requires very inefficient processes (long journeys and very long queues for cash withdrawals and subsequent cash purchases of basic goods such as cell phones or electricity).
Solution
By offering an all-in-one app solution and directly supplying the products that their relatives in Africa need, migrants can control and direct the use of their money, prioritizing goods such as mobile phone recharging which allows them to strengthen ties with their relatives or other goods of higher long-term value (education, health, construction).
In parallel, by digitizing the recharge and purchase of goods and services both in Europe and Africa, Baluwo allows many transactions to be efficient (avoiding unnecessary travel and waiting) and allows the last mile in Africa to be digitized, opening up a range of possibilities for the future.
Impact
Baluwo will measure its impact by analyzing indicators such as the time savings generated for African families, the perceived improvement in the quality of life of migrants, the increase in the % of remittances sent via Baluwo compared to direct remittances and the number of family members reached.
Creas Impacto
Empower
Inclusive Finance
Investment
2022
Indicators
Number of families
4 year goal
Numer of 40 minute trips avoided to families
4 year goal
Increase in remittances send with Baluwo vs others (%)
4 year goal
Consumers with perceived life improvement
4 year goal
Sales of unique Baluwo products
4 year goal
