DELIVERING THE POWER OF BANKING IN THE HANDS OF THE FARMERS & TRADERS
We are Redefining access to inclusive credit services for farmers and traders by use of financial and non financial data to underwrite credit to the financially excluded communities.
Akello says "I do not walk long distances to look for a bank; I use akellobanker in my phone to know how much loan i can qualify for and ask my friends/peers to guarantee my loan"
An Africa where all communities have access to affordable financial services at their door step.
Leverage ICT to innovate mobile and web based solution that increase access and usage of financial services among local communities.
TEAM: Leverage Collective Genius
HOPE: Renew People’s Dreams
EXECUTION: Act First & Fast
DIVERSITY: As Inclusive As Our Products
EXCELLENCE: Whatever we do, Do it well.
ACCOUNTABILITY: If it is to be, it is up to Me
LEADERSHIP: The Courage to shape a better Future
The Easiest Credit access to rural farmers and traders by an integrated mobile and web-based application that fits the needs of the Local Communities.
Quest Digital Finance limited, popularly known as “Akellobanker” is a financial technologies company that innovates mobile and web based Solutions that increase access to a broad range of affordable financial services that meet various needs of African Communities.
We are committed to contribute to a new wave of prosperity that is bringing greater economic and social progress. Financial services are central to the lives of everyone, allowing people to participate in the economy, access services, seize opportunities, build resilience, and pursue their dreams.
Our flag ship product akellobanker is built as a mobile and Cloud based digital platform used by farm and nonfarm entrepreneurs to access instant credit services such as agricultural inputs, save and cross lend over mobile phone through Rural Financial services delivery partners especially microfinance Institutions and Savings and Credit Societies (SACCOs). Akellobanker platform is SMS, USSD and Mobile money driven and it enables usage of proprietary data (Financial & nonfinancial) generated before and during transactions to build a credit score for future credit and insurance underwriting.
Operations in Uganda
Agriculture is the mainstay of the Ugandan economy, accounting for 24 percent of gross domestic product (GDP), employing two-thirds of the labor force, and providing half of export earnings. With 84 percent of the population still living in rural areas, agriculture is the main source of income and, by extension, the main pathway out of poverty for the majority of Ugandans. The vast majority of refugees also rely on agriculture for their livelihoods.
Unfortunately, in a country rich with agricultural potential, less than 10% of commercial bank credit and 4% Government budget is allocated to the industry. The Commercial banks which are usually far from the reach of the farmers cannot offer Loans to farmers especially Youth and women sighting lack of financial history and Collateral security and these farmers have been Rated Risky.
This situation has forced farmers to use domestic labor, rudimentary means of farming and reuse seed, which has affected their yields
Our Ability to Offer “Offer the easiest credit services access to farmers and small scale traders by mobile and web based tools that fit the needs of the Local Communities” comes a long way in increasing production and productivity of this class of people hence enable them generate sustainable incomes through improving the profitability of their enterprises save to respond to future shocks and build sustainable livelihoods. This will enable communities to improve the quality of lives and an opportunity to escape the cycle of poverty.