You Can Call Us A Bridge. OWOAFARA means
"MONEY BRIDGE"
By leveraging High technology and Human science, Owoafara provides people with the tools and resources they need to access financial services; this is why we have built our products to democratize access to financial information and services for the undeserved in meeting their everyday needs.
These products give people access to a full-service tech solutions and real-time support they need to create, manage, and secure wealth, regardless of their degree of digital literacy or geographic location.
THE VISION
We are building the bank for the under banked with a vision to support and empower 1 million underserved individuals, micro and small enterprises by 2023.
THE MISSION
OWOAFARA is a technology company on a mission to create reliable pathways to financial services for underserved and under banked micro and small businesses so they can be economically empowered and earn a better livelihood.
OUR CORE VALUES
PASSION
IMPACT
INTEGRITY
CREATIVITY
COLLABORATION
How the Journey Started
When we first launched in 2019, Our initial approach to providing financial services involved curating vetted small businesses and pairing them with partnering financial institutions to offer working capital loans.
Within three months of its release, our original matching tool had already aided 17 financial institutions in improving the lending experience for their more than 5000.
Moving forward
When COVID-19 Came, we needed to act fast. Our customers were at the whim of Banking partners who didn’t want to lend because economic activities were slowed down as a result of the pandemic. To achieve our mission, a quicker, more direct strategy was required. Working on direct consumer and business-facing products was the first thing we did after utilizing our industry expertise, technical breadth, and customer-first philosophy. We created the peer-to-peer platform ROUZO, that enables savvy individuals and corporate organizations invest in portfolios that are used to finance small enterprises. In less than a year, loan transactions grew to over $1,000,000.
New Discoveries
After months of fine tuning our innovative technology for small businesses. We realized our target market was missing out on the benefits of this technology. Despite all of the rigorous test and trials, we needed to find a way to reach those customers who could not access technology due to lack of resources or technical know-how.
We built Fara, an all-inclusive financial platform that leverages our app and a wide network of partners to offer financial services through payments, loans, savings, health insurance and pensions to the unbanked in low income communities. Our approach is embedded in understanding our clients CULTURE, providing them the right financial EDUCATION and utilizing TECHNOLOGY to help them grow and increase wealth.
What should you expect?
For us, it is still DAY 1. One thing we ar using technology to democratize financial information that will ensure everyone has access to an abundant life. While this seem interesting, we are just starting. The goal remains to empower over 5,000,000 people in 5,000 communities with access to finance by 2025.
