#MEET MetroCredit

#MEET MetroCredit

This is a short interview we conducted with Ntoko Franz Ajebe Munge the creator of MetroCredit. If you like this project and would like to vote for it, click here.

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1. Please, tell us a bit about yourself: where are you from and what is your background?

I am Ntoko Franz Ajebe Munge and I am a Cameroonian and I am a holder of a First degree in Accounting, University of Buea and a fellow of the Tony Elumelu Entrepreneurial Program 2016, GAIA Award AgTech Challenge 2017 Finalist and a current Fellow of Adansonia Entrepreneurship Program - Bocconi University- Italy. I have 09 years experience in Accounting and Book keeping, micro finance management and startup development. I have a passion for creating new ideas and innovations and I love working full time on my ventures. I have also been part of two past ventures which are Access Finance Savings and Loans Cameroon and The Franzys Enterprise Cameroon.

2. Can you describe your idea or project in two sentences?

MetroCredit is an online lending, insurtech and mobile money payment platform that provides financial and insurances services to peasant farmers.

3. How did you get your idea or concept?

I noticed that most rural communities in Africa lack access to banking and micro finances service opportunities in many rural communities, farmers need to travel long distances to towns to loan or do micro banking transactions which is risky and tiring.

Farmers lack access to services where they can transfer and receive money to and fro the rural-urban settings talk-less of opportunities to have a viable insurance program or online payment services. With all the above challenges and the opportunities posed by rural communities in growing and producing food crops for urban populace but no opportunities to generate such ventures into full flesh businesses that can create sustainable wealth and jobs.

We saw the need to come up with The MetroCredit Initiative to finance the Unbanked Populations of rural Africa through using technologies and mobile phones and the internet.

4. What is unique about your idea/project and how does it benefit mankind?

Our idea is unique in that it provides rural stakeholders the opportunity to grow their businesses through rural financing scheme. 75% of the transactions are done online and offline through App, Web and Automated texting applications and the reminder is through counter one-on-one interactions. Farmers would learn how to use ICTs and smart phone applications to access our services thereby building their capacities. Customers get access to mobile money and online payment solutions right into the hinterlands to trade without traveling long distances to towns and city centers. They would definitely save time and concentrate more on their farming activities. Our services and platform are made easy to access. Farmers have to option to contributes to an insurance scheme for their future retirement as well as during off farming seasons they would benefit from micro loans on school fees and health insurance loans for their families. There is also an online payment and purchase service for those who are interested in buying goods online as well as payment of utility bills like electricity and water. By so doing farmers can build sustainable farming businesses that create jobs and wealth for themselves and the communities.

5. Describe yourself as an entrepreneur in one sentence

I am passionate about innovating and creating new ideas, hard working, and a social freethinker.

6. How do you deal with people that doubt your abilities/initiatives?

I believe life is bound to have its challenges and people without the passion to see life in its big perspective will also want to trouble your abilities and initiatives and I have definitely met a few of those people in my life. But what keeps me going is to always reflect on such people and statement because Desiderata quotes that "even the blind and the foolish, they too have their stories". So I would reflect on their doubts and try to work myself towards achieving something extra and new every time I get doubts and criticism from people to see maybe I didn't elaborate and convince them well on my initiative or maybe I need to do more on expanding my thoughts on my initiative but at the end of the day, I would definitely learn something new and move on to succeeding on my abilities because I know myself well than people. I always keep my passion for succeeding no matter what.

7. Where does your passion lie?

Innovating and creating solutions that foster community development and social impact.

 8. What are you afraid of or what keeps you up at night?

Failure and not meeting my objectives.

9. According to you, money is a synonym for.....

Financial safety and security.

10. If you could rid the world of three things, what would they be?

1. Bad governments
2. War
3. Corruption

11. What are the benefits you take from the Entrepreneurship Campus?

I love the entrepreneurship journey for Entrepreneurship Campus. I would benefit from the comments that come from other entrepreneurs here which are very insightful. Building capacity is a key benefit and streamlining my business model after insightful comments is another benefit I will gain from Entrepreneurship Campus. The daily and weekly inspiration quotes on Facebook are also very inspiring for me too. If selected as a finalist and sure pitching my idea to investors will be an over achiever benefit.

12. What do you like more about the Entrepreneurship Campus?

The Comments and the inspirational quotes on Facebook.

13. Which idea/project do you like most?

AfricEnergy

14. Please, include a link to a video if you have one

Here's my video

 

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NOTICE: If you want to see more submitted ideas and projects at the Youth Citizen Entrepreneurship Competition, visit BEST IDEAS and BEST PROJECTS and VOTE for the ones you think deserve to WIN the Competition!