What is the name of your organization?
GOPIEN LIMITED
What is the name of your solution?
GROW PLUS
Provide a one-line summary or tagline for your solution.
Empowering collective savings and earning automated interest on savings
In what city, town, or region is your solution team headquartered?
The Grow Plus solution is based in Kampala, Uganda. However, we are looking for global partners in different counties
In what country is your solution team headquartered?
UGA
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
The lack of access to formal banking and financial services for unbanked individuals and communities.
By enabling collective savings and offering automatic interest on these funds, Grow Plus program addresses the barriers to financial inclusion, empowering individuals to grow their wealth while fostering stronger social and economic connections within their communities.
What is your solution?
The Grow Plus program on Gopien.com platform empowers unbanked communities to participate in collective savings, automatically earn interest on pooled funds, and foster financial inclusion. It bridges the gap between traditional financial services and under-served groups, promoting economic growth while cultivating strong social connections among members.
How the Grow Plus Program Works:
1. Members of a community come together and decide to start a savings group on the Gopien.com platform
2. If not already members, each individual creates a free account on the platform.
3. The group agrees on the minimum deposit amount that each member must save.
4. Members designate individuals to act as the controllers of the savings group account.
5. The group registers a unique savings group name (e.g., Save and Earn Interest Group).
6. The savings group name is submitted to the Gopien.com team for approval.
7. Once the Gopien.com team approves the group, interested individuals can apply to join the savings group.
8. After being approved to join, members can begin saving or apply for loans. Members earn automated interest on their savings whenever another member takes a loan and repays it.
Who does your solution serve, and in what ways will the solution impact their lives?
The Grow Plus solution primarily serves unbanked individuals and communities—those without access to formal banking systems or financial services.
How it impacts their lives:
- Empowers Financial Independence: By enabling collective savings and earning interest, it helps members build wealth and take control of their financial future.
- Promotes Social Cohesion: Members collaborate within savings groups, fostering trust, mutual support, and strong social networks.
- Expands Access to Resources: The ability to apply for loans provides members with the financial flexibility needed for emergencies, investments, or growth opportunities.
- Encourages Economic Growth: The program boosts local economies by equipping communities with tools to save, invest, and thrive.
- Fosters Financial Literacy: Through participation, members gain insights into money management, savings, and the benefits of structured financial systems.
In short, Grow Plus transforms lives by bridging the gap between financial exclusion and empowerment, nurturing both economic and social prosperity.
