Innovation Memo: With Co-founder and COO of Asaak, Edward Egwalu

Asaak is a pioneer in Uganda’s fintech ecosystem redefining the essence of asset financing. Through an initial taxi loan, African entrepreneurs can access a breadth of financial products, from smartphone loans to personal loans. Business owners can manage the entire process from their smartphone or can visit one of their branches and work directly with a dedicated credit officer.

Central to Asaak‘s mission is addressing the significant portion of the population in Uganda and similar regions who remain unbanked or underbanked due to limited access, low-income levels, and awareness gaps regarding formal financial services. Asaak confronts hurdles in reaching these underserved demographics while ensuring accessibility and affordability, navigating a regulatory environment characterised by opportunities for innovation and compliance complexities, and addressing technological infrastructure limitations that hinder effective digital financial service delivery, particularly in rural areas.

In today’s Innovation Memo, we profile Asaak with Co-founder and COO, Edward Egwalu.

Edward has background and experience in business startups, fintech, and information technology.