kouruhub

PROBLEM

Low savings ratio attributed to low income and high cost of living(expenses) in Ghana 

SOLUTION

kouruhub helps young workers to be able to reduce the cost of their expenses so they can get extra money to save. we do this by getting them relatively cheaper prices for their basic expenses  through discounts enjoy and buying direct from manufactures or key distributors at wholesale prices The platform collates individual requests which become bulk and buy for them. This  makes it possible for us to buy directly from manufactures or get discount on prices.  

HOW IT WORK

Users will fill a form detailing the following about the item(s) they want to buy: item name, budgeted price for the item, payment terms and expected date. With this data, we try to find the item at a lower cost than the user's budgeted price and the difference  is use as saving for user

BENEFITS

• reduce poverty in the continent. 
• increase economy growth.
• increase financial inclusion.

kouruhub in to solve the low saving ratio in Ghana. About 55% of Ghanaians are not having any saving accounts. and even the 46.3% urban who have saving account , 35% of the accounts are not funded according to the Ghana statistical service. the two key contributing factors are low income and high cost of prices for goods and services. an average Ghanaian earns between $172.500 -$200.00 a month. with this amount is very difficult for them to foot their expenses not only saving some. 

kouruhub is design to help the 43% of Ghanaians who are paid or earned $172.50-$200.00 a month ,  they hardly meet their basic needs  not to talk about saving. this made most of the young Ghanaian workers  not saving for further and  emergence. it also resulted in governments not able to mobilize domestic revenue for development. kouruhub would helps young workers to be able to reduce the cost of their expenses so they can get extra money to save. we do this by getting them relatively cheaper prices for their basic expenses  through discounts enjoy and buying direct from manufactures or key distributors at wholesale prices. kouruhub will helps these young people to live a discern  life,  you matter they salary the earn. kouruhub if scaled appropriately,  could change the the low saving ratio in Ghana and promote economic growth through domestic revenue mobilization.

People earning between $172.50-$200.00 a month. It includes administrative assistants,  private security officers, factory hand works, NABCO and NYEPA, teachers both government and NSS Personals and first entry and fresh employed workers. Basic, senior high students and start-up business. about 40% of them holds a minimum senior high school certificate qualification and 45%  holds first degree qualification mostly Bachor of Art (B.A) and 15% have higher national diploma. we set questioners and get them to answer. through this we were able to know their needs and get some features we added to the platform we never thought about. at any stage of the platform development we get them use and get feedback. even though this got the project delay for two years before completion. the platform is going to reduce their  basic expenses cost and linking the extra money got to their saving accounts i.e. they budget for their expenses and  sent  to the platform and the platform would use their budget to negotiate for discounts from retailers or even buy directly from manufactures. because the platform receives many requests, we can buy in bulk and since we buy in bulk we are able to get discount from retailers because of the huge volumes we buy, if we do not get a manufacturer to buy from. we call our platform a buyerplace.

 the  43% of Ghanaians who are paid or earned $172.50-$200.00 a month, want to save some of the money but  the continuous increase in the prices of  goods and services is making it  difficult for them to meet their estimated budgets for the goods and services the need to survive. kouruhub is using the buying power to get prices reduce. since all buyer will come together to buy they have the power to influence the price, if you as a retailer or manufacture do accept their demands you will not people buying your goods or services. kouru means king.

the service is currently available for people in Accra and Tema. about 150 people have downloaded the application and about 100 people visiting the platform everyday. 50 people have signup with the platform and we have help 30 people to buy, by reducing their expenses cost by 15%.

traditionally people think saving is a habit and that you must cultivate that habit before you can be part, this is much attributed to the person spending behaviors but about 60% of the world population who are living below the $1 a day. so how will these people also save? ,. is clear that this people from time to time they get money either from family members or causal work they do and buy things , kouruhub is using opportunity to get them save some money any time they buy. our platform would change the way people buy and the pricing system currently in place and above all the perceived culture of saving. kouruhub going to positively impact on low income earners by helping them create wealth and also promote economic growth through domestic revenue mobilizations.

hundred and fifty use the platform to. we targeted five thousand in next year and above five hundred thousand in the five years

four people work as full time staff