Ghana: Mubarak Sumaila offers savings and financial services to the unbanked

By : Melchior Koba

Date : mardi, 29 août 2023 10:27

Last updated : mardi, 29 août 2023 10:29

The tech entrepreneur launched his startup, BezoMoney, while going through MEST Africa’s support program. Through the said startup, he provides digital financial products and services to the youth and unbanked individuals. 

 Ghanaian-born Mubarak Sumaila (photo) is the co-founder and CEO of start-up BezoMoney. A graduate of the University for Development Studies, where he earned a BSc in Biotechnology in 2017, he launched BezoMoney, two years later, while he was taking part in MEST Africa's startup training program.

"There are a lot of people in the informal sector in Africa and hardly do their lives improve in any way from year to year. Through our research, we realized that this is a result of their limited access to formal financial services which stems from their inability to build verifiable credit histories even though they save and access credit through informal financial schemes. BezoMoney exists to change that," the tech entrepreneur explains.

BezoMoney provides a social savings platform, Bezo, to help low-income populations easily save money and access significant capital through collective savings.  It also offers BezoSmart Series, a financial education platform that provides customers with practical information on how to manage and improve their finances.  The education platform covers a wide range of financial topics, from savings to investments. It offers a podcast, a financial education program, events, and meetings. 

BezoMoney is one of the startups selected for the Google for Startups' Black Founders Fund 2023 program. Its CEO is also one of the beneficiaries of the  Techstars Accelerator 2023. He is also a  2022 Halcyon Incubator Fellow and a member of the alumni steering committee of Summit, a global community of entrepreneurs, academics, athletes, and personalities of all kinds.

A former intern (2016) at Lancet Technologies, a pathology laboratory operating throughout South Africa, he worked between 2017 and 2019 as the Accra office manager of Startup Grind, a global startup community. In 2020, he became a podcaster at A Tribe called VC, an online media outlet that aims to bridge the information gap between African start-ups and venture capitalists. In 2021, he worked as a digital product manager at Digital Product School, a training program set up by the German company UnternehmerTUM.

Melchior Koba


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