In Ghana, Accra-based fintech startup SusuPaa won two awards at the Moolre Startup Cup, a four-month national event for developing solutions based on Moolre APIs for payment collection, disbursements and USSD. This was reported by MyJoyOnline.
Digitalizing susu savings
SusuPaa develops a B2B platform to digitalize Ghana’s informal susu savings sector, which is used by households and small businesses. The service is intended for contribution collectors, cooperatives, mutual aid funds and microfinance institutions.
According to the company’s description, the platform helps organizations conduct operations digitally without abandoning the trust-based and cash-based operating models familiar to participants. Its functions include group savings programs with contribution cycles, targeted savings, digital passbooks, loan management and a participant portal. Through it, users can top up savings, apply for loans and download statements.
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Platform and sector indicators
According to SusuPaa, the platform is used by 29 active susu organizations and more than 3,361 participants. The volume of transactions conducted through the service has exceeded 12 million Ghanaian cedis.
According to the Ghana Cooperative Savings Collectors Association, deposits in the susu sector increased from approximately 1.2 billion Ghanaian cedis in 2023 to around 1.6 billion cedis in 2024. SusuPaa CEO Prince Tettevi said the awards recognized the team’s work on a product adapted to the practices of savings collectors and microfinance institutions.
SusuPaa said it plans to continue connecting contribution collectors, cooperatives, mutual aid funds and microfinance institutions to the platform.
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