Digital Solutions

Ajo by CredBooth:

Ajo-by-CredBooth

Ajo-by-CredBooth is an innovative digital platform designed to modernize traditional rotating savings and credit associations in Africa, with the aim of enhancing access to affordable credit, improving savings culture and fostering financial inclusion.

Ajo-by-CredBooth encourages self-help through mutual assistance, allowing individuals with common needs, such as access to affordable credit or the desire to improve their saving habits, to form groups. These groups can collectively work towards their shared financial goals within a technology-enabled, democratic environment. This approach fosters trust and accountability among members.

Cooperative methods have long been used to promote self-help through mutual aid, particularly in the context of gaining access to financial resources. Thrift savings practices have existed for generations, pre-dating formal banking systems. In various markets, these practices are referred to by different names. In Nigeria, thrift and savings cooperatives go by names such as Ajo, Esusu, Adashe, Akawo, and more.

To get started:

• You will need to have an account on Ajo-by-CredBooth, so download the app on PlayStore or Appstore and register.
• Complete your registration and KYC.
• Setup a group and defined the rules as an admin.
• Invite members.
• Confirm memberships and launch your group rotational savings.