Fintech solutions are multiplying across the continent to address various financial service issues. In Togo, a startup has focused on mobile money interoperability and offers a solution in this regard.

eGo Transfer, a fintech solution developed by a startup in Togo, enables users to send and receive money via mobile, irrespective of their telecom provider. The startup, headquartered in Lomé, was established in 2020 by Attisso Luz Koumedzro.

"The inspiration for eGo Transfer came when my younger brother asked me to send him money via Flooz, but I was using T-Money. So, I conceived eGo Transfer, which facilitates money transfers from T-Money to Flooz and vice versa. It also allows for money received from Ria to be deposited into T-Money or Flooz accounts," Koumedzro explained.

The solution includes a mobile app for Android smartphones, which can be downloaded from the eGo Transfer website, although it is not available on the Play Store. After downloading, users create an account by providing details such as their first and last names, phone number, and a six-digit PIN code.

Once the account is set up, users can transfer funds to any telecom network operating in Togo. Within the app's interface, users simply select the network they want to transfer from and to, enter the amount, phone number, and PIN code to confirm the transfer. Transfers via this mobile app require a minimum of 300 CFA francs (approximately $0.49).

In 2020, eGo Transfer won the first prize at the Open Hack organized by the Nunya Lab incubator. The aim was to propose an innovative solution, and eGo Transfer captured the jury's attention, walking away with a check for one million CFA francs. In 2023, the fintech, along with seven other Togolese startups, was selected to participate in the Tech Africa-Europe International Summit, Emerging Valley, held on November 27-28 in Marseille, France.

Adoni Conrad Quenum