soso care

SOSO CARE  is a fintech social enterprise that aims to use recyclable garbage as a financial resource enabling millions of uninsured slum dwellers mostly pregnant women and kids to access micro health insurance, micro capital and gain points on food stamps. 

Every year Nigeria dumps over 34 million tons of waste and about 20 billion PET recyclable bottles. To assist the poor raise premium for micro health insurance we collect these recyclable waste from them and sell to manufacturers and the proceeds used as premiums to help finance healthcare needs of the poor living in slums. 

With pervasive poverty, poor healthcare financing and high maternal mortality, healthcare access thus presents a significant economic burden on slums and suburb residents mostly women with unstable little income and for poor pregnant women is considered as expensive luxury. Again, Nigeria generates over 34 million tons of waste yearly and about 20 billion PET bottles causing poor sanitation, poor healthcare and affecting the environment. soso care as a fintech social enterprise aims to use recyclable garbage as a financial resource enabling millions of uninsured slum dwellers mostly pregnant women and kids to access micro health insurance, micro capital and gain points on food stamps

We believe these waste products can be converted into an economic and social value when they are collected and sold to act as a means of financing healthcare needs of the poor living in slums. 

Over 40% of Nigerian 200 million population live below poverty line in slums and suburbs. by linking recycle garbage waste to micro healthcare insurance, capital and food stamps we tend to serve millions in slums mostly women to access healthcare in pregnancy and micro capital.

By linking garbage to healthcare access, we are killing 2 birds with 1 stone a as the solution addresses the needs through the following:

• Access to healthcare to reduce infant and maternal mortality in these regions
• Improving sanitation & environment in slums and
• Creating Jobs for the distribution network and waste collectors
• access to micro capital
• access to food stamps

soso care is a fintech social enterprise that aims to use garbage as a financial resource enabling millions of uninsured slum dwellers mostly pregnant women and kids to access micro health insurance, micro capital and gain points on food stamps. 

Users and members signup to access micro health insurance of our service and a 4 digit is sent via sms called soso ID, with the ID number users can access all our services.  Agents can as well register to provide service for commission for our users to improve distribution. We hope to deploy a USSD and Chat bot by October this year

We are innovating around healthcare access and micro capital like never before by linking garbage waste as a form of premium for insurance leveraging on technology against  the conventional way of  Approximately 95% of all insurance company  who looks towards cash financing for premium and hardly provides cover for people in slum regions because of their unstable income. 

By using software web service and chat bot technology we use waste garbage as a resource to finance micro healthcare insurance. 

Many big insurance providers in collaboration with telcos have tried solving this problems but failed. basically because they require minimum of $50 monthly call units of which they debit 10% to service monthly insurance but failed because 80% of people living in urban slum hardly have money to buy call card. 

we changed the process by enabling them to pick just few units of over 20 billion PET bottles, cans and recyclable consumed yearly in Nigeria to access micro insurance and micro capital. 

2 weeks after we did a pilot test, over 96 women came donating bottle by 4th week we had 450 women. 

So by linking garbage to healthcare access, we are killing 2 birds with 1 stone through the following:

• Access to healthcare to reduce infant and maternal mortality in these regions
• Improving sanitation & environment in slums and
• Creating Jobs for the distribution network and waste collectors

We are currently serving about 620 people by the end year we estimate 4000. additional 18,000 people by 12 months time when we launch in Lagos and Kano city which are Nigeria's biggest cities with combine population of 35 million people with 40% living below poverty line in slums. 

Next year for us is the main business. We plan expanding across Nigeria mostly Lagos, Kano, Enugu and port harcourt with a combine population of over 75 million people of which 40% live in slum and below poverty line. 

5 Years plan

The expansion to Ghana, Cameroon, Kenya, Pakistan, 

in the next 5 years we will be able to reach at least 40 million people and expand to other African countries and also Pakistan since our CTO is from Pakistan. 

Food Stamp

with progress we will also ensure people use their waste to earn points in food stamps. 

incentive for staying healthy

we will also introduce incentives and rewards for families and mothers staying healthy, using mosquito nets, boiling their drinking water etc this way reduce the cost of hospital visit. 

There are few challenges and barriers for us mostly convincing the very and  uneducated Muslim parents of the need to sign up for the service. Again some insurance companies are still sceptical of under writing our risk monthly they want 12 months upfront payment. 

lastly processing these service across the value chain requires cash which we dont have. we need access to capital. 

The biggest challenge in these market mostly the area of health insurance is the distribution to ensure it reaches the target audience which is why traditional insurance companies worked with Telecom provided to ensure users can pay with call cards. These failed because the target audience was skeptical and didn't trust the service mostly Muslims are it was against their religion.

For us we plan to use mobile money agents and local drug stores in these communities who they trust and serve the Islamic market in a better way through takaful insurance service

Time will play a lot of role for us mostly on the side of awareness campaigns on the importance of sanitation and health insurance . Again with traction I am confident the insurance companies we completely give in to monthly premium service. 

we hope to raise funding to speed up our growth process and increase the efficiency 

selected Hybrid 

15 people work on this project and 5 full time and 10 part time workers

We are best placed to deliver this job because the team is made up of diverse and dynamic people who are flexible and smart with work backgrounds from banking, Insurance, micro pension, waste and recycle management, finance, corporate and project management, Technology, Data analysis and medicals. 

As the CEO with MBA in management, public health and other business certifications I have work background in management, banking, web development, sales and micro capital and pension. Miss Vero who is our product manager with MBA in human resource has  over 10 years experience in waste,health and human resource  management while working with  wasteplus and MTN Africa's biggest telecom provider. Malaxtive with Distinction in health statistics and MBA in financial managament has deep experience in data analysis and project management. Ben offor has over 6 years experience in the insurance industry while Lareb who is from Pakistan is a graduate of computer science with track record in software deployment. 

we are partnering with Hygeia Health management organisation to under write the health insurance risk. 

we are a business to business service provider with commission revenue model and below is how it works

Members of sosocare can access care who can not pay cash to access micro insurance can deliver recyclable materials like bottles, glass, plastics Bags of our agreed Kilogram monthly to our partner agents who sells the collected waste to big recycling companies as raw materials. The money generated from the sales is converted into health fund to finance the premium in other to access healthcare.

In summary this means people with low incomes who need health insurance can collect recyclable garbage from the streets and bring it to any of our registered agent nearest them who weighs and values the waste then credit the individual in the form of a medical health insurance   

sosocare is designed to be sustainable since we make commission. members are expected to donate recyclable waste valued at $12 monthly or pay $1 monthly to access micro health insurance.  so with our revenue model sosocare will be sustainable in short time but we will be raising investment funding to scale the service across regions, communities, cities and states.  

Beside the grant which will help us scale to move to Lagos and serve 9 million people quickly, the 12 month training, the network and access to more funding opportunities which we will receive. Also as a fellow, been a part of Solve validates our progress within our community,  country, policy makers, corporate bodies and even the press towards building stronger partnerships and awareness. 

I didn't select other.

Shop rite which will help us reward people who eat healthy through grocery discount and as well let our users gain food points which will serve as food stamp thereby cutting the percentage in the 7 million people who go to bed everyday without food in Nigeria. 

AI as a machine learning for us is most important in managing risk and understanding people's primary needs. soso care as a fintech social enterprise uses recyclable garbage waste to finance health insurance and food stamps mostly for women and kids in suburbs and slums. 

With machine learning and data we can understand the need of a child for example instead of visiting the hospital regularly from malnutrition the mother could be directed to use her waste to gain food points for a food stamp at a super market.  

soso care as a Fintech social enterprise which uses recyclable garbage waste to finance  health insurance and food stamp points for millions living in slums and suburbs. By making waste a product of value and scarce commodity the  innovative technology solution will help communities shift towards a more circular economy through zero waste and zero carbon since waste will be considered high need products and every body wants it. thereby ensuring sustainability and environmental sanitation.  

soso care as a Insurtech social enterprise which uses recyclable garbage waste to finance health insurance and food stamp points mostly for women and kids in suburbs and slums. This is an  innovative technology solution that improve the quality of life for women and girls in many ways. Every year over  54,000 women die from pregnancy in Nigeria. soso care as a micro health insurance will provide women mostly pregnant women access to quality healthcare reducing both infant and maternal mortality which  results from haemorrhage or infection due to  poor healthcare or use of traditional birth assistance. 

Again, the soso care in partnership with www.jaracare.com uses chatbot technology to improve access to sexual and reproductive health information mostly on family planning. 

As a tech for good in micro capital

when we started within 2 weeks we had 92 women donate PET bottles to gain points in raising micro capital using their waste. As a Fintech women can donate their recyclable which will enable them raise micro capital to start a business which empowers them to fight poverty and provide their needs.  

this is for business in USA we are based in Africa (Nigeria)