Economic prosperity through BarEl application

Peace and stability are baseline conditions for economic prosperity and a thriving society, and both are at risk with escalating  economic shocks. Poverty and lack of quality jobs contribute to conflict. 

Technology can lead to more precarity.

Many people, including workers, in Malawi lack economic opportunities, that is, the options a person can pursue to achieve financial autonomy because of the absence of  adequate education and training, and an economic climate in which legitimate businesses can grow. People also lack economic opportunities because they are deficient or are limited in the following: high quality education, pathways to careers, access to healthy food, affordable healthcare and  financial literacy. Financial literacy skills; include, personal financial management, budgeting,  saving, debt and investing.

Lack of financial literacy and business management skills pose a challenge for many people to access credit because they can not prepare a business plan let alone break even analysis and financial statements.  Because they lack financial literacy and business management skills, their businesses fail; consequently, they do not have viable assets to show to lenders as collateral or security.

Lack of financial literacy leads to accumulation of unsustainable debt burdens either through poorest spending decisions or a lack of long-term preparation. This, in turn, can lead to poor credit, bankruptcy, housing foreclosure, or other negative consequences.

According to Consumer Association of Malawi, only 3 percent of Malawians, including workers, are accessing credit facilities because of financial illiteracy.  Accessing credit from informal lending institutions  or loan sharks has led to credit traps that result in confiscation of property.

Many entrepreneurs in Malawi encounter enormous challenges to acquire credit. This impedes economic growth, rendering millions and millions of Malawians trapped in a poverty cycle. 

The following are some of the barriers to accessing credit:

1.Poor credit score .
2.Lack of financial track record.
3.Lack of capacity to manage risks.

4.Barriers based on age, sex, disability, race, ethnicity, origin, religion or economic or other status.

Many Malawians are unbanked due to several reasons like illiteracy and unemployment.

About 70% of Malawi's population lives below the $2.15 international poverty line. The marginalised, people with disability,  women, youths,  people with low income and some workers may want to start small businesses, but the stumbling block is lack of capital. Many marginalised groups like women, youths and peasant farmers are denied access to loans. Most of them do not have entrepreneurship skills like skills to write a business plan, which is a prerequisite to access credit. When these people want to access credit from banks or microfinance Institutions or lenders, they are required to provide collateral or security, which they may not have; hence, they are denied to acquire loan capital or the   prospective loan applicants  are discouraged to borrow at all because they may not have security.

Lack of credit has negative consequences for poor people’s agricultural productivity, food security, health and overall household welfare.

Some prospective loan applicants may be discouraged to borrow because of high interest rates offered by lenders.

My team and I believe in positive lasting change.  Our solution uses technology; specifically, BarEl application, which we developed. It brings about economic prosperity. It reduces or eradicates poverty. It improves access to credit,  facilitates effective management of risks and equips individuals with right business and financial literacy skills.

Our solution helps to achieve a situation in which people have economic opportunity. It facilitates adequate education and training, an economic climate in which legitimate businesses can grow, and promotion of peace and prosperity.

Our solution facilitates more inclusive financial systems and creates new job opportunities like information technology jobs.

It fosters financial and digital inclusion by supporting access to credit. 

It generates new economic opportunities and buffer against economic shocks for workers, including good job creation, workforce development, inclusive and attainable asset ownership by facilitating good economic decisions and proper human resources management.

Our solution equips users with digital skills and other skills, which are much sought by employers.

It equips people with financial literacy and business management skills that enable businesses to thrive; hence, growth of asset base to be used as collateral. The business management skills enable entrepreneurs to prepare business plans that include financial statements and break even analysis that are vital for getting credit applications to be approved. In the same vein, financial literacy skills and business skills enable people to make right decisions and manage their resources effectively and efficiently.

The financial literacy and business management skills enable individuals to budget, manage and pay off debts,  understand credit and investment products, keep track of expenses, make timely payments, save money prudently and check credit reports.

BarEl application is packed with all components of Business Administration. In short, it is MBA made simple, setting users on a path towards a prosperous and financially responsible future. Among other things, BarEl application assists entrepreneurs in technical and fundamental analyses, in keeping  records, controlling inventory, financial reporting, managing human resource, finances, operations, transport, sales, marketing, risks, small business enterprises and economics.  The records can be used to determine the creditworthiness of users.

Our solution enhances consumer empowerment and effective financial education by promoting financial literacy initiative; and increasing access to affordable credit facilities through promoting school based financial literacy.

The solution enables individuals to acquire foundational skills like reading and writing.

Our solution breaks barriers to accessing loans like: age, race, tribe, home of origin or gender.

Our solution helps to effectively manage risks by identifying, analyzing, prioritising, treating and monitoring them.

The target population whose lives we are working to directly and meaningfully improve includes; workers, lenders, borrowers, entrepreneurs, governments, economists, planners, women, children, girls, youths, everyone, women, children, girls, youths, everyone,  LGBTQ+, pre-primary age children (ages 2-5), primary school children (ages 5-12), rural, peri-urban, poor, low-Income, middle-income, high-income, refugees and internally displaced,  minorities and previously excluded populations, and persons with disabilities.

The target population is  currently underserved in that they can not access credit or they are unbanked due to  limited or no knowledge or skills in financial literacy and business administration; and also due to low levels of literacy (foundational skills) and due to being unemployed because of poor economic conditions.

They  are also currently underserved in that they do not have collateral, they do not have digital, financial literacy and business skills.

They  are also currently underserved in that lenders, economists and the like, lack tools for analysis and decision making. Consequently, they make poor economic decisions, that translate into economic stagnation and poverty.

The solution will address their needs by:

1. Training and educating workers, entrepreneurs, students, farmers and the general public on financial literacy and business administration. BarEl application helps individuals to become financially literate, improve their business or budgeting skills, and increase their business planning acumen. By doing so, our solution contributes to reducing poverty, boosting revenue for businesses, improving food security, and promoting sustainable economic development.  

2. Enabling individuals to prepare business plans which lenders require before approving credit.

3.Facilitating businesses to grow or thrive; in the process, growth of assets that are used as collateral. 

4.Formulating and reviewing financial sector policies and providing MSME support for growth.  

5. Helping planners and economists to make right economic decisions like public sector investment plans and decisions on loan acquisition, macro-economics and micro-economics.

6.Digitising of government payments and receipts.

7. Promoting social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.

We are constantly engaging our target population in development of our solution through one to one discussion or through meetings. During such meetings, our target population  suggests to us what  improvements to make to our solution. 

The solution will impact their lives as follows:

1. Enhanced consumer empowerment and effective financial education.

2. Enhanced policy and regulatory framework for the financial sector.

3. Improved digital payments ecosystem in the financial service provision.

4. Increased savings and investment opportunities 

5.Increased access to credit targeting women, youths, workers, farmers and MSMEs.

6.Increased generation of new economic opportunities and more buffer against economic shocks for workers.

7.Increased good job creation.

8.Better workforce development.

9.More inclusive and attainable asset ownership.

10.Sustained peaceful and prosperous economies.

All in all, communities will experience improved economic prosperity through economic growth and development. The economic situation of affected communities improves as financially literate individuals become more productive. 

Below is the explanation of how and why my team and I, are well-positioned to deliver this solution:

TK Computers & Consultancy team members are professionals. 

Thumbiko Shumba, the Chief Executive Officer, leads our team. He brings over 20 years of experience in management. He retired as Deputy Director of Finance in the Malawi Government. He worked as a secondary school teacher. He developed BarEl application, which is providing efficient intervention in Malawi. He has extensive experience in research, data analysis, monitoring and  evaluation.

Tiwonge Kuyokwa, Mwawi Mbewe and  Mphatso Simfukwe add value to the team with their experience. They are experienced trainers.

We are professionals with a diverse range of skills, knowledge, hands-on experience in project management, IT,  education, business administration and financial management that help us to enhance economic or financial outcomes.  We leverage our expertise together to foster creativity, critical thinking and problem-solving skills; thereby, achieving better outcomes and overall development.  

We incorporate human-centred design. Inclusive and equitable outcomes are considered in the design, implementation, and internal operations of our solution.

Our team is ethnically diverse and inclusive. We are gender-balanced.

We  have direct experience with the communities that we serve. We   were all born, raised, live and work in the communities we serve. We interact with our target audience on almost daily basis, enabling us to  understand the challenges they encounter.

We nurture human potential.

We are fluent in the language of our target market; hence, enabling effective communication. 

We  utilise human-centered design principles to ensure that our solution is user-friendly and accessible.

The design and implementation of our solution is meaningfully guided by the communities’ input, ideas, and agendas. We prioritise communities' input and feedback.  We get feedback on our solution from community leaders and members to understand their needs and experiences. We involve community leaders in our undertakings: This makes their people to accept us; thereby, ensuring lasting commitment and local ownership.   We collect data through surveys, focus groups, interviews and consultations.   

We are capable of coordinating, organizing, planning, directing and delivering results.

We are compact, agile and motivated to drive the innovation towards scale.

Our team has a strong commitment to accountability and delivering quality outputs. 

We have a deep understanding of our organisation's goals.

We have a realistic, practical plan for implementing the solution, and it is feasible.

We have set up robust communication channels that facilitate communication and quick decision-making. 

We have a network of  partners, including community-based organizations, giving us the opportunity to tap knowledge and experience through collaboration.

We are a team that has supported one another in many ways. 

We are geared  to create positive lasting change.  

We have a sound theory of change.

We provide consulting services. 

We have an active advisory board.

Lastly, we are well-positioned to deliver the solution to the target population; owing to our proximity to the communities we serve and our commitment to human-centered solutions. We leverage our dexterity and expertise, promote partnerships, maintain robust communication channels and prioritise activities.

The detailed reasons we  selected the stage above are explained below:

We already moved from the concept stage and prototype stage, and we are now in the pilot stage. So far, we have developed an application called BarEl. 

Our solution has been launched in at least one community, but is still iterating on design or business model. It is working to gain traction.  It has 10+ users/direct beneficiaries. It is a full product but released on a small scale to a select group of users or a small audience aimed at collecting valuable feedback. 

We conducted the following studies under pilot stage: baseline survey and foundational study.  Under baseline survey and foundational study (literature reviews, desktop research) we found out that Malawi, Sub-Saharan Africa, and the entire world are going through financial or economic crises. Globally, access to credit, financial illiteracy, economic shocks and  lack of foundational or business skills impede economic prosperity. 

We are carried surveys through focus groups and interviews from the community we target. Data gathered from the surveys is informing the design.

We have just concluded  formative study (usability study; feasibility studies; case studies; user interviews;  process evaluation and correlational studies). The formative study revealed that there is a correlation between  economic or financial outcomes and use of BarEl application.  The study showed that all users of BarEl application, including workers, were able to access credit, and that they were not heavily and negatively affected by economic shocks. The study also showed that entrepreneurs who started using our application experienced positive financial performance in their businesses.  The study showed that users of BarEl application used it, without any problem. The study also revealed that the application passed the following feasibility tests: technical, operational, economic or financial,  legal, market, cultural and political.

We measured user experience qualities like usability, functionality and desirability to mitigate risk so as to save us from making a large investment into something users will not adopt.

Focus groups, case studies, and user interviews were  conducted: They revealed that respondents scored highly on preference and favourability tests. 

We are currently using live data and we are delivering a live service or activity. Our product is actually going through the normal implementation and service transition processes.

We are at the first stage of an implementation. It is an initial small-scale implementation to prove the viability of our solution. It is a test release of our product to a select group of users, designed to gather feedback and validate assumptions.  We are   exploring a novel approach.  We are using or modifying live data. We are  limited in scope in that we have a limited number of  users.

Our product is at a pilot stage where it can be useful to iron out any minor creases, or understand how it works in reality, before expanding use. We are at a stage of identifying any deficiencies,  to make minor changes to the solution and to manage the risk of the product  before substantial resources are committed.

So far outcomes of the pilot stage are compelling us to  roll out the full implementation after making minor changes to the solution. We are carrying out surveys through focus groups and interviews from the community we target. Data gathered from the surveys is  informing the design and the pricing model. 

Our solution is hybrid of for-profit and nonprofit. It has raised little investment capital through the personal savings of the CEO, Mr Thumbiko Shumba. 

Before our solution entered the pilot stage, it passed through the concept stage and the prototype stage.

During concept stage, we did a small exercise to test the real-world potential of our idea in the early stages of developing our product. We did not deliver the idea for live use but demonstrated whether it was feasible. And we came to the conclusion that our product can be developed.

During prototype stage, we conducted prototype testing to evaluate performance quality, conformance quality, durability, reliability, repairability, style, design, usability, favourability,  desirability and preference of BarEl application. The application passed the prototype testing.

The prototype was put through rigorous functional tests and customer tests. We did the alpha testing to see how our prototype performs in different scenarios. We also did beta testing by enlisting customers to use the prototype and give feedback on their experiences. 

We also did consumer testing by offering freemium. We have achieved an impressive migration rate from the freemium to the subscription model.We have sold the product to very few end-users.

We also did market testing to learn how large the market is, and how consumers and dealers react to handling, using, and repurchasing our application. 

The major methods of market testing we applied are: sales-wave research, test markets and market-tested at trade shows. 

We also conducted the following feasibility tests to check if our prototype is feasible or infeasible.

Technical Feasibility Test: . Our application passed the test. Below are some key elements which we assessed for technical feasibility :

• Technological Stack - programming languages and operating systems, front-end framework, back-end framework, data storage and querying.
• Availability of resources: the availability of a skilled workforce with diverse expertise and knowledge.
• Integration and compatibility: Our application functions smoothly with different types of hardware .
• Risk assessment:  We assessed the possible risks that could arise during product development and we strategized contingency plans.
• Security and compliance: We identified and evaluated security vulnerabilities to avoid situations like data breaches, loss of data, or severe system malfunction. Our application has a security  feature that has multifactor aunthentication, in other words, password security with multiple layers of  protection. It also has a backup for data recovery.
• Scalability: Our product has the ability to accommodate future growth due to increasing user demand without major glitches in performance.
• Monetary constraints: Our project’s budget is not enough if we are to scale. We need support from Solve.

Operational Feasibility Test:  Our application passed the test.  We did tests on whether our application is easy to operate or maintain after deployment or usable. 

Economic or Financial Feasibility Test:  We analysed whether or not our project is fiscally viable.  We conducted cost-benefit analysis and it revealed that the benefits of the solution outweigh their costs.  

Legal Feasibility Test:  The test revealed that our solution conforms to the legal and ethical requirements in Malawi and beyond.

Cultural and Political Feasibility Test : The test showed that we will manage change. The suggested changes would be received owing to the involvement of the target population in the project. 

Market Feasibility Test : We evaluated how  the project’s deliverables will perform in the market through a market analysis, market competition breakdown, and sales projections. The test found that  there is a feasible market for our solution.

The following are specific financial, technical, legal, cultural, or market barriers that we  face and hope Solve can help us to overcome:

Financial barriers: This includes: challenges in pitching to investors and lack of easy fundraising process that  diminishes our financial position, which negatively impacts our operations.

Technical barriers: This includes challenges in accessing cloud services, managing time, navigating team dynamics, adapting to new technologies and compatibility issues.

Legal: We face challenges in  license and distribution agreement,  intellectual property and  international laws for applications.

Cultural:  We face challenges in cultural compatibility where  beliefs, values, and customs may mismatch. We work in communities where the local populace can not comprehend the language we have used in our application. We anticipate language barriers in countries where French, Portuguese and Swahili are used as languages of instruction.

Market barriers: They include: competitive rivalry, threat of substitution, threat of new entrants, challenges in distributing our product, and in web development or design.

Our solution would benefit from some of the resources that the Solve community can provide. 

We are applying to Solve because of the following reasons:

• We want Solve to help us to access in kind and pro-bono resources to empower our innovation journey and support our growth. We need financial help for operations. We need funding in the form of grants and investments, including through prizes and Solve Innovation Future. We  want funding opportunities to scale up the solution. 
• We want Solve to support us in pitching to investors.
• We want Solve to help us in Product / Service Distribution (e.g. expanding client base)
• We want Solve to help us in web development/design.

• We want Solve to help us to join a class of impressive peers that act as a trusted support group, offering inspiration and guidance.
• We want Solve to help us to join a powerful network of impact-minded leaders across industries and sectors, with dedicated spaces to meet year-round and during Solve’s flagship events such as Solve at MIT.  We are excited to connect with Solve, as we believe that by associating with it and the connections it offers, we can reach the next level in our work.

• We want Solve to help us to access leadership coaching and strategic advice from experts in the Solve and MIT networks. 
• We want Solve to help us to receive monitoring and evaluation support to build an impact measurement practice. 
• We want Solve to help us to gain exposure in the media and at conferences.
• We want  Solve to help us to access relevant in-kind resources such as software licenses and legal services from Solve supporters.
• We are looking for support from MIT Solve to access more partners, mentorship, technical expertise, media publicity and exposure, impact measuring and monitoring, and business development assistance, that can help us scale our solution and make a greater impact. We want to tap into a network so as to leverage international and local partnerships to grow and scale up the solution.  

The following make our solution innovative:

It approaches the problem in a new or significantly improved way. It catalyses broader positive impacts from others in this space. It changes the market/landscape. 

It is a new application of an existing technology.

 It is high-tech, low-end and end-to-end solution.

It addresses bottlenecks connected to sustainable development goals.

It is scalable, replicable, sustainable,  easy to manage and maintain. It is highly scalable. It can be cascaded to the entire market ecosystem. It is scalable owing to a huge potential market world-wide.

It is designed to be easily transferred to community-based organizations. It increases  participation in a personalized manner. 

It can be customized.

It enables inclusivity and accessibility. Training local communities on how to use BarEl application allows for acceptance of the project. 

It brings lasting and  huge impact. It decreases workload of its users. It uses Big Data, Machine learning and Internet Of Things. 

BarEl application catalyses sustainable economic prosperity in emerging markets by empowering people with skills. It catalyses by providing 24/7 information. It catalyses by providing BarEl application freely to disadvantaged people. It catalyses positive change in  knowledge.

BarEl application does not solely rely on internet or require expensive devices and technology to operate. It can be used both online and offline.

Our solution has distinct differences that set it apart from every rival solution. It is delivered in a distinctive and superior way of obtaining  benefits and cannot be copied easily by competitors. It is affordable, profitable and sustainable. It is differentiated along these dimensions: product, service, personnel, and image.

Product Differentiation: It excels in performance, conformance, durability, reliability, repairability, style, design and features.

BarEl application is feature rich. It has a back-up for data recovery, audit trail and multifactor aunthentication, in other words, password security with multiple layers of  protection. 

Services Differentiation: It excels in ordering ease, delivery, installation, customer training, customer consulting, maintenance and repair.

Our personnel are competent, courteous, credible, reliable, responsive and communicable. 

Our distribution channels are found in more locations. Our staff is better trained, and perform more reliably than competitors.

Our image is conveyed through logos, media, special events, symbols and atmosphere.

Our solution is a positive improvement. It stands out from the rest and truly makes lives of its users easier. It is something different and unique. It is multipurpose. It is a successful change.  

It is feasible. It saves time. It improves productivity. It brings about cost reduction. It is a very easy application to use and learn. It enhances security and  internal control environment. It increases quality and accuracy of information. 

It makes economic prosperity more inclusive and equitable, while improving outcomes for all.

It is centered on the needs of communities and entrepreneurs, and  complements rather than replace human interaction. It facilitates efficient network and scale. It provides skills that people need to thrive in both their community and a complex world, including problem-solving and literacy around technology.

The target population whose lives we are working to improve is about 350 million.

Context

Entrepreneurs, workers,teachers, learners, everyone, lenders, NGOs and governments are engaged in the project because they are change agents.

Project beneficiaries are: entrepreneurs,  lenders, workers, learners, women, girls, youths and everyone.

The assumptions and risks are:

• Funding provided.
• No inflation.
• No electricity outages.
• Workers are well-trained, motivated and work as designed.
• The target population is interested in BarEl application.

Enablers

•  Staff quality.
• Vehicles' availability.

Inputs: staff, funds,  fuel, training workshop, equipment.

Activities and actions

• Skills development and mentoring of MSMEs.
• Intensify capacity building on financial literacy and promote school based financial literacy.
• Capacity support to savings groups members in income generating activities.
• Installing and maintaining BarEl application; and providing technical support.
• Training on how to use BarEl application.
• Provide office services and routine activities.
• Conduct studies, research, tests, monitoring and evaluation.
•  Achieve policy dialogue, coordination and knowledge management.
•  Promote project results.
•  Customer service - Support and participation activities.
• Digitisation of government payments.
• Leveraging savings groups by exploring partnerships.
• Providing MSME support for growth.
• Increasing access and quality of education.
• Increasing access to affordable credit facilities for youth.

Outputs: 

• 1 million BarEl applications installed.
• Installed BarEl application, the solution or project  monitored and evaluated monthly.
• 100% of installed BarEl applications maintained and technical support provided.
• 350 million individuals trained on how to use BarEl application on financial. literacy.
• Literature review conducted of similar solutions.
• Interviews done with the implementation team:
• Focus Group done to  identify areas of strength and improvement.
• Formative study that might contribute to design.
• Research report including analysis of data and recommendations.
• Feasibility studies done to evaluate  BarEl application. 

Outcomes: 

 Enhanced consumer empowerment and effective financial education.

 Enhanced policy and regulatory framework for the financial sector.

Improved digital payments ecosystem.

 Increased savings and investment opportunities.

Increased access to credit, targeting farmers and other MSMEs. 

Improved capacity of researchers in research or studies or tests.

Dissemination of research or test or study results.

Collaboration and Knowledge Sharing among stakeholders.

Inclusive Practices.

Policy Influence.

Concrete evidence of the value of BarEl application to bring funders and partners.   

Scaling and replication of BarEl application.

Exposure and buy-in with stakeholders. 

Impacts

• Vibrant, efficient, stable and inclusive financial sector.
•  Inclusive and sustainable  innovation.
• Sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
• Substantially reduced proportion of youth not in employment, education or training.
• Sustained per capita economic growth.
• Higher levels of economic productivity through technology and innovation.
• Better development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and growth of MSMEs.
• Full and productive employment and decent work for all women and men,  and equal pay for work of equal value.
• Increased access of enterprises to financial services, including affordable credit.
• Skilled and empowered youth population.
• All in all, achievement of sustainable development goals like: no poverty, zero hunger, good health and well-being, quality education, gender equality,  decent work, economic growth and  reduced inequalities.

The impact goals for our solution are:

• Vibrant, efficient, stable and inclusive financial sector that will meet the financing needs of all.
•  Inclusive and sustainable innovation.
• Sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
• Substantially reduced proportion of youth not in employment, education or training.
• Sustained per capita economic growth; in particular, at least 7 per cent gross domestic product growth per annum.
• Higher levels of economic productivity through diversification, technological upgrading and innovation.
• Better development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-,small- and medium-sized enterprises, including through access to financial services.
• Full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
• Increased access of small scale industries and other enterprises to financial services, including affordable credit, and their integration into value chains and markets.
• Skilled and empowered youth population.
• Increased generation of new economic opportunities and more buffer against economic shocks for workers.
• Increased good job creation.
• Better workforce development.
• More inclusive and attainable asset ownership.
• Sustained peaceful and prosperous economies.
• Communities will experience improved economic prosperity through economic growth and development. The economic situation of affected communities improves as financially literate individuals become more productive.

• All in all, there will be achievement of sustainable development goals like: no poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation,  decent work, economic growth and  reduced inequalities.

We are measuring our progress towards them by using the following indicators:

Annual growth rate of real GDP per capita, Annual growth rate of real GDP per employed person, Proportion of informal employment in
non-agriculture employment, by sex, Average hourly earnings of female and male employees, by occupation, age and persons with disabilities, Unemployment rate, by sex, age and persons with disabilities, Proportion of youth (aged 15-24 years) not in education, employment or training and Proportion of small-scale industries with a loan or line of credit, Number of training workshops on how to use BarEl application conducted, Number of learners trained on how to use BarEl application in financial literacy, Proportion of children and young people:(a) in grades 2/3; (b) at the end of primary; and (c) at the end of lower secondary achieving at least a minimum proficiency level in (i) reading and (ii) mathematics, by sex; Percentage of population in a given age group achieving at least a fixed level of proficiency in functional (a) literacy and (b) numeracy skills, by sex.

The metrics to help track our success towards the goals we have set across the following SDGs: SDG 1. No Poverty, SDG 2. Zero Hunger, SDG 3. Good Health and Well-Being, SDG 4. Quality Education, SDG 5. Gender Equality, SDG 6. Clean Water and Sanitation, SDG 8. Decent Work and Economic Growth, SDG 9. Industry, Innovation and Infrastructure and SDG 10. Reduced Inequalities.

The core technologies that power our solution are described below.

Our solution is an  application called BarEl, which we developed using database management and Microsoft Excel. Though BarEl application is based on Microsoft Access, it can be upgraded to Express Edition, which has a bigger capacity to store information. It can also be upgraded to SQL Microsoft Azure, which can enable it to reach many users worldwide through cloud services.

BaEl application is interactive, friendly and easily accessible. 

It needs simple training.

It leverages technology, data and expertise. 

It uses predictive modelling to predict patterns.

It delivers a seamless and comprehensive user experience.

It easily saves records and accesses a wealth of valuable information.

It analyzes vast amounts of user data, extracting valuable insights with remarkable accuracy. 

It is a data management tool. 

BarEl application is on-premise.  It is an application for decision support. With it, one can save time on a daily basis; thereby, improving productivity. One can save money because less paper and less labour is used; thereby, enhancing profit margin or surplus. BarEl application provides effective solutions to existing problems; thereby, eliminating a certain amount of stress and saving mental sanity. It is a very easy application to use and learn. It enhances customer management, security and the internal control environment through segregation of duties as a result of multifactor aunthentication, in other words, password security with multiple layers of  protection. It also has a backup for data recovery.. It has security features which prevent unauthorized users from accessing the application to deter manipulation of data.  BarEl application reduces costs, provides clear cut job with authorization. It enables comparison and analysis of data across an organization within a specific period and between two or more periods. It facilitates integration and collaboration across departments. It increases quality and accuracy of information.  It is accurate and fast. It provides up to date information. It is reliable. It produces automated documents. It facilitates the real time production of management information reports. It has an audit trail component. It is capable of easy customization or personalization.  It permits fast and accurate retrieval of data and information. It is flexible e.g availability and design of various reports.  It is able to interact with excel through exporting and importing data facility; thereby, enabling flexible reporting. In many instances, it interprets results or makes decisions - an aspect of Artificial intelligence. It has a training manual as well as videos for training on YouTube and Facebook or Meta.

TK Computers & Consultancy has 4 full-time staff, 3 part-time staff and 6 volunteers.

The four full-time staff are: Thumbiko Shumba,Tiwonge Kuyokwa, Mphatso Simfukwe and Mwayi Mbewe.

Thumbiko Shumba is the CEO & Founder. He holds the Bachelor of Business Administration Degree. He is a writer. He won Peer Gynt Literary Prize. He retired as Deputy Director of Finance in the Malawi Government.  

Tiwonge Kuyokwa is the Data Analyst.

 Mwayi Mbewe is also the Data analyst. She adds value to the team with her experience in education.   

Humphreys Simfukwe is the IT Coordinator with relevant experience.

We have been working on our solution for seven years.

TK Computers & Consultancy started working on BarEl application, in 2017. It was founded in 2017 in Malawi. 

Below is the explanation of how we ensure that our team is diverse, minimizes barriers to opportunity for staff and provides a welcoming and inclusive environment for all team members.

We incorporate human-centred design. Inclusive and equitable outcomes are considered in the design, implementation, and internal operations of the solution.

TK Computers & Consultancy has a diverse, educated team with different tribes, ages, gender, backgrounds and experiences.

We foster a culture of inclusivity and anti-discrimination. 

We have a diversity policy for hiring.  We hire local talents and the best people. We prioritise diversity, equity and inclusion in our operations, leadership and managerial roles.

We ensure that our leadership team is diverse by promoting women, people with disabilities, youths and ethnic minorities into leadership positions.

Our approach incorporates inclusivity by empowering our target beneficiaries regardless of their socio-economic status, ethnicity, class, gender, religion, or political affiliations. 

We have collaborations and partnership opportunities with organisations and individuals that vigorously promote diversity, equity and inclusion. 

We focus on minority demographics that lack job opportunities. We do not exclude women and the youth.  

We do community involvement. We have gender and inclusive policies and practices. We encourage training and awareness of diversity, equity, and inclusivity among our team members.  We respect everyone regardless of their background. Everyone’s voice is heard. We encourage open dialogue, collaboration and a culture of respect and empathy.  We provide equal opportunities for growth and professional development. We conduct diversity training that helps employees understand how cultural differences can impact how people work and interact at work.  We train and provide support on diversity-related issues. We  advocate an atmosphere of empathy, understanding, acceptance, equal rights and opportunities for all; including, diversity, equity, and inclusivity in everything we do.  We intend to employ multiple individuals with disabilities. 

We train, develop and promote those who would not be able to traditionally access such opportunities.  We work with people from underrepresented groups.  

Diversity, equity and inclusivity are at the heart of our culture and policies.  Violation of diversity, equity and inclusivity is punishable.  

We seek feedback from our team members to ensure that their needs are taken into account.  

We collaborate with communities we serve to customize with their needs. We partner with community organizations.  

We oftentimes review our progress on diversity, equity, and inclusivity for continuous improvement.

We ensure that our leadership team is diverse by promoting women, people with disabilities, youths and ethnic minorities into leadership positions.

Our team includes  women, men and the youth. Some of the women we have are as follows: Tiwonge Kuyokwa and Mwayi Mbewe. 

We help employees to understand how individuals are impacted by unconscious bias, and what actions continue to reinforce biases. 

We respect and embrace other people's experiences and realities. 

We observe equal pay for equal work.

We promote awareness of, and acknowledge a variety of upcoming religious and cultural holidays. 

We ensure that people of different gender, cultural background or age are working together. 

We believe in equity and justice.

Our business model has various revenue streams. We provide end-to-end solution via our application under monthly subscription. We sell the application on upfront basis.  Other services that include consulting and training are on fee basis. 

Key Partners  and stakeholders 

Entrepreneurs, lenders, teachers, learners, parents, everyone, governments,  NGOs, CBOs,  schools, community leaders,  associations and businesses. 

Knowledge partners:  

Axel Angeli of Logos! Informatik GmbH (Germany) and Jasper Bhaumick of UMa Soft GmbH( Switzerland).

Collaborative partners:  

Youth and Society (Malawi). 

Research Partners: 

Research Software and Systems Engineers  Africa. 

Business and inclusive partners: 

EMD Consulting Engineers (Malawi) and  BIZ-LOGIC SOLUTIONS LIMITED (Tanzania).

Key Activities:

Mobilisation and training of partners.

Training of leaders and influencers.

Training users of BarEl application.

Provide office services and routine activities for management of the project.

Set up monitoring mechanisms and conducting evaluation.

Achieve policy dialogue, coordination and knowledge management through advocacy.

Promote project results.

Customer service.

Support and participation activities. 

Key Resources 

Human – employees and volunteers.

Financial – cash to scale and for trainings, research, monitoring and evaluation.

Physical - computers.

Cost-driven:

Fixed costs –  salary, rent etc  Variable costs – fuel, allowances, training,  M&E costs.

Economies of scale - facilitation allowance.

Intellectual - copyright, knowledge, skills etc.

Cost Structure

Field activities and operating costs (35%); Salaries, Payroll tax (15%); fees for facilitators and coordinators 20%; accounting and auditing 10%; evaluation  10%; marketing and communication 10%; Staff.

Classes of business structures: 

Economies of scope –  computer costs, labour, utilities and stationery.

Characteristics of cost structures: Cost of delivery, marketing and logistics.

Social Innovation. Awareness & Cause, Environmental, Entrepreneur support and Low-income client.

Format of the intervention Provision of BarEl application.

Training workshops on how to use BarEl application.

Development program and collaborative work.

Value Proposition:

Thriving businesses.

Financially literate.

Price of BarEl application is reasonably low.

BarEl application is a quality , convenient, cost-effective, efficient and customizable brand. 

Cost savings.

Time savings. 

Revenue increase. 

Customer satisfaction.

Vertical scaling.

Coverage and impact of workshops and the network.

Network of beneficiaries integrated.

Revenue streams 

Grants.

Revenue from training workshops and consultancies.

Donations.

Asset sales: revenue from sales of BarEl application.

Participation and support funding.

Subscription fee.

Surplus 

This is how we intend to use the surplus:

Make a donation to a social mission-aligned organization.

Reach out to more customers, stakeholders and beneficiaries.

Community reinvestment: reinvest our surplus into growing our social business.

Customer Relationships Personal assistance e.g. social media.

Self-service: user manuals.

Personalized service, repeat custom and loyalty.

Consumer benefits

Thriving business, economic opportunity, financially literate, easily access credit and economic prosperity.

Distribution channels 

Types of channels 

1. Owned channels: website, social media and store front.

2. Partner channels:social media and referral marketing 

Customer segments 

1. Mass market:      General public. 

2. Niche market.

3. Diversify:  Government, NGOs, businesses, ethical consumers.

Beneficiaries 

Entrepreneurs, academicians, lenders, learners, funders, women, children, girls, youths and everyone.

Impact measure will be done through these Indicators: economic growth rate, number of new MSMEs, reduction in number of MSMEs failing etc 

The solution has a plan for financial viability and the potential to be scaled to affect the lives of more people. 

Our plan for financial sustainability is to combine  different revenue streams to fund our work. 

One of our primary revenue streams will come from selling our product. 

We plan to secure grants and sustained donations . We will diversify donor base, beneficiaries and stakeholders. We are also looking forward for grants or donations from MIT Solve.

We will  partner with governments and other organizations to secure service contracts.   

We will collaborate with our partners on the operational aspects.  

We will engage with a com­mu­nity of investors who are inter­ested in invest­ing in the mis­sion of social busi­nesses. 

We plan to raise investment capital. We will attract equity investors to scale our operations and reach more beneficiaries.

We plan to scale through vertical and horizontal scaling. We will increase customer base through promotional activities. We will use internet and enter more markets; including national, regional and global markets. BarEl application is on YouTube and Face Book marketplaces. We want to join other platforms or marketplaces like MIT Solve.

Our solution can be replicated, enabling it to reach scale and achieve wider and sustainable impact .

Our customers can access our products through subscription, fee-based service, license fee and Software as a Service.

We offer freemium to our potential customers. 

We plan to charge a small fee for installation, maintenance, consultancy and training. 

We plan to charge different prices to different customers,  depending on size, location and type of customer.  

We will effectively and efficiently manage financial and physical resources. We want to achieve profit or  improve our gross and oper­at­ing profit margins or revenue optimization through cost minimization or cost efficiency. We will ensure input efficiency by conducting trainings en-masse and at once; hence, reducing training cost per unit, resulting in higher profit margins. 

We will also be advertising our application called BarEl on partner websites. 

We partnered with Axel Angeli who facilitated a trip to New Delhi for some of our staff for India Soft Event which was organized by the Government of India in 2022 and 2023.

Locally, we partnered with EMD Consulting Engineers and NBM Development Bank.

We invested around $1000 as seed investment capital. We are eyeing for angel investors.

Our plan to achieve financial sustainability has already yielded promising results, as evidenced by the following successful milestones: Freemium to subscription migration: We have secured some paying customers.

We raised $2000 through events and collaborations.

We  also had some revenue through provision of consultancy services. This business activity has the potential of generating $12.5 million annually in Malawi.

We have raised $2000.00 from monthly pension of Thumbiko Shumba, our CEO.

We  man­aged work­ing capital through proper cash management.

We effi­ciently invested cap­i­tal by implementing  investment appraisal techniques and  break-even analy­sis.

The Total Addressable Market for our solution in Malawi is $30 million; and for Africa, it is $2 billion.