Local farmers manage savings electronically

Akaboxi, that offers small farming communities a digital system to ensure financial inclusivity, won the first Sustainable Technology for Africa award in Uganda. Entrepreneurs for Entrepreneurs (OVO) thereby opened access to wider transfer of knowledge and a social loan.

The finals were held after a 3-day OVO coaching session that 7 Ugandan entrepreneurs and start-ups participated in. The panel decided to award first prize to Akaboxi. The award was handed over in Kampala by the Belgian ambassador, Mr. Hugo Verbist.

Access to credit

Akaboxi was established early in 2018 and came up with a concept that allows local farmers to manage and monitor their savings together. With a nifty electronic device they can deposit an amount safely in a bank account and it also allows them access to small credit facilities. This concept replaces the rudimentary way of keeping money under the mattress at home. Akaboxi charges a monthly fee for the service.

Frans Verschelden who supervises Akaboxi on behalf of OVO is justifiably proud: “The two founders, Joshua and Sarah, have already had a positive impact on the lives of 150 farming families with their service idea. Their dream is to expand it to 3,000 farming families in 100 communities.”

Runners up

Second prize went to SolarPipo which aims to ease the rollout of renewable energy with an intelligent data solution. SolarPipo connects small businesses in off-grid areas digitally with energy suppliers by using the best solutions.
Ejijem, which won third prize, takes the cake with delicious fruit biscuits predominantly aimed at the affluent market. To ensure sustainability, local farmers are trained and equipped with solar dryers to dry out the fruit. These dryers are made from locally available materials.

Successful event

OVO general manager Bjorn Macauter declared this edition of Sustainable Technology for Africa in Uganda particularly successful and emphasized that more candidates would be followed up by Entrepreneurs for Entrepreneurs.
This edition of SusTech4Africa was again organized in cooperation with the Flemish Institute for Technological Research (VITO) and Thomas More College. We also received generous support from the Flemish Government, Close the Gap, the Belgian embassy in Uganda, Barefoot Law and Makerere University Business School.
Entrepreneurs for Entrepreneurs will approach the OVO Acceleration Fund for the social loans.
Akaboxi was established early in 2018. (picture: Elvis Ssemgoverere)