The African startup ecosystem is currently dominated by the fintech segments, probably because of the continent’s low financial inclusion rate. The segment has become so attractive to investors with ever-rising VC financing and the number of innovative solutions developed by enterpreneurs is also on the rise.

Gwiza is a fintech solution developed by a Rwandan eponymous startup. It allows users to pay utility bills, manage their expenses, contribute to group events, donate to charities or even save money individually or join a group to save collectively.

Through its mobile -Android and iOS- app and USSD code (*737#), it allows users to carry out various financial operations or enter a password to access the collective savings group they belong to. Users who want to join new groups or create new ones can do so through the Gwiza Plus app or visit a nearby Gwiza office for more assistance.

Apart from allowing group savings, fundraising and bill payment, Gwiza also enables insurance subscriptions. Despite its features, which make it a worthy alternative to mainstream financial services, the startup is not yet gaining much traction. According to Play Store data, its Android app has been downloaded less than 100 times. It is true that with its USSD technology, it could be more popular in rural areas but, without official figures, nothing much can be said about it.

The fintech startup is among the six selected to participate in the second cohort of the Fintech Incubation program organized by the Co-Creation Hub (CcHub), Google, the Rwandan Ministry of ICT and the Mojaloop Foundation. In December 2022, in the framework of the program, it will present its idea to potential investors.

Adoni Conrad Quenum