Awamo (Germany)
Winner Category Money Mattersawamo is a credit bureau for microfinance institutions in sub-Saharan Africa. It opens up the market for low-income borrowers by providing MFIs with affordable, comprehensive digital solutions that capture borrower data, monitor MFI operations in real-time, and generate credit reports – all of which increases financial inclusion and dramatically decreases interest rates currently at over 60%. awamo’s IT solution revolutionizes MFIs operations by digitizing processes that are currently inefficient, thus reducing transaction costs and borrowing risk.
awamo is the first to combine biometric identification – a client’s fingerprint as ID and bank card – with a mobile solution. awamo’s model is the key to data collection for rural populations, empowering small business and ultimately fuelling local economies.
