Refilwe Phologolo

Zamocode T/A Mindsolutions

What does your company do?

The Problem: Too many people in Sub-Saharan Africa are locked out of the formal financial system. Lacking easy access to banks and smartphones, they struggle to build credit, save money, and participate in the wider economy. This fuels poverty and limits opportunities. Our Solution: A disruptive, DEFI app, designed specifically for the realities of Sub-Saharan Africa. It empowers individuals and communities in several ways: Peer-to-Peer (P2P) Loans: Bypass traditional barriers like collateral checks and extensive paperwork. Build credit and access small loans directly from trusted individuals within your community. P2P Transactions: Send and receive money safely and easily, boosting financial inclusion and driving local economic activity. Digital Identity: Overcome the lack of official documentation with a secure, verifiable digital identity. Use it to access essential financial services and unlock new opportunities. USSD Access: Reach even those without smartphones or internet. Use basic mobile technology (USSD) to access core functionalities, bringing financial inclusion to the widest possible audience. This app isn't just about finance; it's about unleashing potential. By making financial services accessible and relevant to everyone, we can empower individuals, strengthen communities, and drive positive change across Sub-Saharan Africa.

What is your biggest success?

1. Being a finalist for the MTN business app of the year 2023, the most innovative solution out of 20,000 applications. 2. Winning the African Bank Hackathon 2023 3. Finalist for Digital Africa Hackathon 4. Raising capital from family and friends

What has been your biggest hurdle?

BUCKS, currently in Beta Testing, faces the hurdle of reaching our target audience - the underbanked population in Sub-Saharan Africa. This challenge has two aspects: Limited User Awareness: Many in our target demographic lack awareness about FinTech solutions or may not have the resources (smartphones, data plans) to readily access our mobile app. Building Trust in a New Platform: As a new entrant, convincing the underbanked to trust BUCKS with their financial data and transactions requires overcoming potential skepticism about the security and reliability of our mobile app.