What solution(s) does your initiative address to help emerging entrepreneurs and small businesses grow and thrive in underserved communities? (select all applicable)
Access to supply chains, Access to technology, Access to economic opportunity.
What has been the impact of your solution to date?
We ran a proof of concept with 75 migrants who were supporting between 350 and 500 family members. (We worked with two agents in South Africa and two merchants in Mozambique). For each order a migrant placed they were saving 33% compared to sending a Western Union remittance and 12% compared to asking family/friends/informal couriers to send the goods to their families.
moWoza customers / beneficiaries are new customers for the agent and merchant and therefore we were increasing their trading activity and revenues.
Further research indicates that we can have a similar impact on micro cross-border traders and on the livelihood of rural and urban migrants within the local country.
What is your projected impact over the next 1-3 years?
By year three:
- Our impact is to impact the lives of 14,000 migrant workers and their family members (average of 70,000) in Southern Africa. To achieve this we will work with a crossborder labour broker and informal cross-border traders.
- increase revenue streams for 100 village merchants and 75 agents.
- increase the economic opportunity of 1,000 informal Mozambican crossborder traders by reducing the amount the costs incurred from the travel that they are currently doing to purchase products (inventory).
What barriers might hinder the success of your project? How do you plan to overcome them?
The success of our project will be hampered by operational costs of running a business in two areas. For this reason, each of the crossborder operations needs to become self-sustainable and for that we are looking at selling directly to the local community too (opposed to just being a crossborder service targeting migrant workers).
Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact
Signed agreement with a distribution partner to easily access migrant workers. Demo a mobile phone supply chain solution.
Now think bigger! Identify your 12-month impact milestone
500 registered customers & 250 cross border traders. Customers making monthly repeat food purchases for their family members.