We are building a digital-only bank in Africa, bringing financial inclusion to millions.
- Essex, United Kingdom
Categories: Finance & Payments Digital B2C
Born from Ignite Accelerator as an e-commerce platform for farmers, Zazu has now pivoted to become a 21st century bank for Africa, launching imminently to a waiting list of users. Zambia has 16.6 Million people, with 1.2 Million adults in formal employment, 1.4 Million MSME’s & 2 Million emerging farmers. We believe these high earners may be unhappy with the high cost of banking.
Zazu is developing a prepaid card with a companion app to offer a real-time log of a consumer’s spending & control on the card’s usage.
We believe our proposition is affordable branchless banking for Africa, via a banking app through offering unprecedented customer service. It costs $2 to obtain a card, with a monthly subscription of $2. We are aiming to issue 100,000 accounts in Zambia before December 2018. We are currently in talks with a potential sponsor bank, with whom we hope that we would be able to expand to other African countries.