Ohana is a new fintech app but focused on groups, made by africans for African with africans.
Money Pooling circles are common across Africa and are known by many different names. In Mali and Senegal, they’re called ‘Tontines’. In Nigeria, they’re commonly referred to as ‘Ajo’s’, ‘Esusu’s’ or ‘Adaji’s’. In South Africa, they go by ‘Mohodisanas’, ‘Gooi-Goois’ or ‘Makgotlas’, stokvels .
Collectively, they’d represent up to 7% of Africa GDP, equivalent of 210 billions dollars.
Families, associations, churches, mosques, sport clubs have the habit of pooling money together, informally (without using any tool).
The problem is, once the money is collected, it becomes insecure because it often goes through one person to be kept.
Ohana app brings an easiness of pooling money together (digitalizing the process), and offers security to groups money by putting it in a common group account that no single member could touch. The money is safe and protected. No Single member could withdraw it. All members are notified of deposits and withdrawals, and the money is protected by a bank insurance.
The group money is always available, and could be withdrawn at any moment. In the end, Ohana helps africans build healthier communities and stronger bonds pooling money together to achieve common goals.
Here an explainer video: