Despite significant economic growth in the past decades, the World Bank says striking disparities remain among socioeconomic groups in income, wealth and living standards in Botswana. In a Poverty Assessment report released in 2016, the bank said although inequality, as measured by the Gini coefficient, has fallen, it is still among the highest in the world, trailing only two countries. The report further states that inequality in cities continue to increase. The implication has a negative effect on the socioeconomic status of those affected. Socioeconomic status has been shown to predict health, achievement, success and mortality. However, despite the clear importance of socioeconomic status, there aren’t many innovative solutions geared towards the improvement of those negatively affected by income disparities. We are a financial services provider geared towards making financial services affordable, more convenient and easily accessible. We have developed a fintech product code named “YaMasa”. We are providing an innovative and convenient service to daily income earners to develop a financial sense and financial muscle to advance their lives. This is through a daily service which mops out part of their daily excess earnings for their future use in one of the most convenient ways. Moreover, the service provides a value of a financial sense and a better understanding of money for healthier business management practice and social impact.
Daily income earners (street vendors, taxi drivers etc) earn relatively well but their socioeconomic status and livelihoods do not improve over time negatively affecting their morbidity and mortality
We have developed a fintech solution that affords daily income earners an opportunity to conveniently make daily micro-investments.