Africa’s fintech sector is currently attracting huge amounts of investment capital. The reason for that interest is the continent’s poor financial inclusion and the startups offering interesting alternatives. 

Motito is a Ghanaian fintech startup founded in 2020 by Tobi Martins. The startup allows its users to buy products and pay in installments from partner brands.  

In its own words, it gives users “the chance to buy items for personal and business needs without breaking the bank.” It also promises partner brands “to turn window shoppers into actual paying customers” and increase their order value by 40%. 

The startup has a mobile app (available on Android and Ios phones). The app, called Motito PayLater allows users to access all the services the startup offers. To access those services, users must first register and activate their accounts by filling in the information required at each stage of the process.  

Once they activate their accounts, they can visit the online stores of partner brands, make purchases and select the payment plans most suited to their income flows. The maximum installment period is three months, however. 

With Africa’s credit access challenges, solutions like Motito’s are needed to combat financial exclusion. In June 2022, the fintech startup was selected with eight others to participate in the second edition of the Norrsken Impact Accelerator.

Adoni Conrad Quenum