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NewTech Friday: DaMansah - Leveraging technology to empower entrepreneurs to grow their business 06 May 2022 169

Claver Nambégué Coulibaly is the Co-Founder & CEO of DaMansah. He explained to Efma’s Boris Plantier how his company is improving the success rate and the well-being of African business owners.

What led to the creation of DaMansah?

We originally created our company to help retailers better manage their finances in order to be eligible for loans from financial institutions. Along the line, while we were helping them manage their finances with our first product called Smartshop, they urgently requested us to help them make more money from their shops. Most small retailers were having few sales and were looking for other ways to make money, and were already looking at mobile money as a potential business. Therefore, with research, we came out with the product Waribon to spark their business growth.

Could you present DaMansah's offer?

From our research, we realized that these small retailers found it complex, time-consuming and expensive to start and make money from their shops as distribution agents of financial services. They needed huge working capital and had to go through long procedures to receive agreement for distributing those services. And when miraculously they get the services, they face liquidity issues due to the fact that their capital is shared across several services. 1.4 million agents were found operating in sub-Saharan Africa with a growth rate of 24% between 2014 and 2019, according to GSMA. Most faced these challenges.

On the other end, financial services providers and FMCG are finding it expensive and difficult to distribute their services and products to underserved clients.

Waribon is an aggregator that allows distribution agents and merchants to distribute financial and non-financial products in their communities and get a commission from each transaction. The agents and the merchants we work with are community leaders trusted by hundreds of people around them. They are the ones promoting new products to their communities.

What's coming next for DaMansah?

To better serve the West African market, we’re launching a new fundraising drive. This will allow us to fully deploy our solution in the Ivorian market before scaling to other countries.

Our vision is to be a powerful lever for economic development and financial inclusion in Africa.

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