MIT Solve

Solution Overview & Team Lead Details

Our Organization

Odwadini Limited

What is the name of your solution?

Odwadini

Provide a one-line summary of your solution.

Odwadini app is a basic voice guide financial accounting app aimed at helping small business in the informal sector in a more formal way of financial record keeping.

Film your elevator pitch.

What specific problem are you solving?

Most small and medium scale businesses in Ghana and Africa as a whole do not have proper bookkeeping in place. As a result, traders often do not know too well where their money goes. This slows business growth, direction and sound financial decision making for many.

A report by International Trade Centre indicates that SMEs represent about 85% of Ghanaian businesses. Also, World Bank 2020 indicated 90% of worldwide business being represented by SMEs. Amongst these, more than 50% of Ghana and Africa’s SMEs do not have proper bookkeeping in place. As a result, they do not have a good insight on their costs and revenues to take the best business decisions.

What is your solution?

Odwadini helps informal traders with a very simple app on their smartphone, and a voice over in various tribal languages to direct the informal traders to enter and track their day-to-day transactions such as sales, purchases, expenses, debtors and creditors. Reports on stocks, profit / loss, cash and other account balances are automatically generated and interpreted to the user in the language of choice.

Who does your solution serve, and in what ways will the solution impact their lives?

SMEs in Ghana takes about 90 of the total registered businesses at the Registrar
General's Department

Odwadini targets trading sector SMEs SMEs are said to provide about 85 per
cent of manufacturing employment, contribute about 70 per cent to Ghana's GDP, and
therefore have an impact on economic growth, income and employment
https :://www graphic com gh/business/business news/opportunities for smes html

Financial Institutions

How are you and your team well-positioned to deliver this solution?

Odwadini has two partners, Dennis Boateng, the Business Lead who is an accountant and Samuel Asante the technical Lead, a software developer and a digital marketing strategist.

Which dimension of the Challenge does your solution most closely address?

Create and/or reduce frictions to scale safe personal identification methods for individuals who have been kept out of the formal financial system due to a lack of formal identification

In what city, town, or region is your solution team headquartered?

Accra

In what country is your solution team headquartered?

Ghana

What is your solution’s stage of development?

Pilot: An organization testing a product, service, or business model with a small number of users

How many people does your solution currently serve?

500

Why are you applying to Solve?

Marketing Campaign
On site sales team
Digital Marketing
Radio /TV Commercials
Next Release
•
New paid packages
•
Translation into other languages
French
IOS Version

In which of the following areas do you most need partners or support?

Financial (e.g. accounting practices, pitching to investors)
Human Capital (e.g. sourcing talent, board development)
Monitoring & Evaluation (e.g. collecting/using data, measuring impact)
Product / Service Distribution (e.g. delivery, logistics, expanding client base)
Public Relations (e.g. branding/marketing strategy, social and global media)
Technology (e.g. software or hardware, web development/design)

Who is the Team Lead for your solution?

Dennis Boateng