Ensibuuko; The Innovation Easing Financial Access To Rural Farmers – Young Achievers Awards

Ensibuuko is inspired by a true Ugandan story. While growing up in Eastern Uganda, Gerald Otim witnessed first hand the importance of farming to a rural Ugandan. It was a channel through which his tuition was raised, and he actively participated in it as a young boy. He had time to understand rural farming wholesomely, and one of the fields he keenly observed was financing. He discovered that most farmers preferred saving with SACCOs and on mobile money over the traditional banking system, though they didn’t really enjoy the services resulting from technological advancements like the folks using the banks. That is where the idea struck, and Ensibuuko was born.

Otim rises to receive Young Achiever Award for Innovation and ICT last year

Ensibuuko was founded with the major aim of providing equalised banking services to all, whether using traditional banking or non banking institutions. In so doing, it would enable rural farmers improved financial services such as getting and repaying loans and constantly tracking their savings from the comfort of their homes. With most banks situated in towns and charging superfluous interest rates, the rural farmer had been maligned, whereas the urban people, with access to internet and high tech gadgets were maximising the services.

Otim teamed up with Opio Bwangamoi David as co founders of Ensibuuko when he was done with college. The result of this cooperation was the innovation we see today, that has built back end systems for non banking institutions like Mobile Money and SACCOs, which have brought the very same services of traditional banking into the hands of the rural farmers. Their main product, the MOBIS System even goes as far as to provide internet free banking, where a farmer can deposit, withdraw, check balance, access and repay loans by simply following prompts as one would do when loading airtime. They also provide financial training and capacity building to both farmers, and banking institutions.

Otim recieves award from Innovation Village’s Japheth Kawanguzi

Ensibuuko has grown impressively to provide financial solutions to over 60 banking institutions, and envisions opening out operations in 6 countries in Africa including Rwanda, Ghana, Nigeria and Senegal. The technology used by Otim and colleagues is for the user; that is-practical software solutions that don’t require the user to go through trainings to learn them first. They are based on what the user already knows, and are tailored to suit what they already do.

Otim presents the acceptance speech for the award last year

Gerald Otim and Ensibuuko won the Young Achievers Award for Innovations & ICT last year, and many who have interfaced with the platform would agree that it was a well deserved one. Otim believes that for young people to change the world, they can identify the challenges of their societies, an be compelled to address them.