MoyoCash
Idea Description
The Idea is to establish a fintech company in the african continent that offers salary advance to employees at first, and then offer more verticals such as BNPL, Microlending, payments and more
Challenges The Idea is Addressing
As of 2024, Africa's population stands at approximately 1.5 billion, about 30% are salaried. Yet, surveys indicate that between 20% to 50% of these employees may seek salary advances due to financial pressures and low income levels.
Benefits of Idea Implementation
According to studies, our innovative model is set to reduce employee turnover by up to 41% and make companies more attractive to potential hires. Research shows that people are twice as likely to apply for a job at a company offering such services. In providing this essential support, we’re not only transforming lives but also fostering a more resilient and motivated workforce.
Keywords / Tags
fintech
