Wala, re-inventing banking in Africa

Wala is on a mission to help mass market consumers throughout Africa reach financial prosperity by eliminating the barriers to banking through a zero-fee digital banking platform.

You don’t necessarily need to invent new ground-braking technologies to generate real value and provide fundamental services to a broad number of people in an existing sector. And to make a real difference to people lives while doing it.

Sometimes all you need is passion, a deep knowledge of customer needs, very good understanding of the market, and a good dose of creativity in joining different technologies together for the greater good of your customers.

And this is what Wala does. It is building a new way of banking for the underbanked and non-banked in Africa. For the millions of people that cannot access or afford such essential services which is so important to build financial security and life changing opportunities.

And it has not invented anything new at all. It has ‘just’ jelled together a number of services and products in a creative way that generates real value for their customer base. This is innovation.

This is the type of innovation that has great chances of success. The need is there, the answers are there. You ‘just’ need to put them together in a coherent and effective way to create a winning proposition.

Wala brings banking to the millions via a slick mobile application, at negligible cost to the consumer, with an extremely compelling proposition. But they don’t simply bring them services they never had access to. Wala also educates its customers, giving them the tools to make the best out of such services, and for their exclusive benefit. And they do this by leveraging the power of social networks So while Wala provides banking services, it also educates on how to best use them to achieve your goals. Wala makes a difference not only in services but, maybe even more importantly, also in education.

Wala can really create value and wealth where is most needed, and where it is most difficult to create. By achieving their ambitious goals, Wala can dramatically improve people conditions and help them achieve financial freedom, substantially contributing to their growth and success.

They address an underserved segment of the market at a price point that would be uneconomical for the incumbents by masterfully crafting together different products and services in a very well thought through proposition.

Go check Wala. And support their efforts spreading the voice.

If you want to contact their management team, feel free to do that through me.

(Disclaimer: I am a mentor and an investor in Wala)

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