For decades, a significant portion of the world’s population remains underserved by traditional financial institutions. This financial exclusion limits access to essential services such as savings, investments, and credit, thereby hindering economic growth and personal financial stability. Nelly Chatue-Diop, a Cameroonian entrepreneur, identified a pressing need in Francophone Africa for accessible and inclusive financial services. Motivated to bridge this gap, Chatue-Diop founded Ejara in 2020 as a fintech platform offering decentralised financial services.
Ejara enables users to invest in cryptocurrencies and save through decentralised wallets, providing a secure and independent means of managing wealth. Her vision is to democratise access to financial services through blockchain technology, offering a safe and inclusive platform for the unbanked and underbanked populations.
Ejara is Africa’s first non-custodial wallet and blockchain-based mobile investment platform, uniquely designed for Francophone Africa and its diaspora. Unlike custodial wallets, Ejara’s approach ensures that users have complete control over their assets, enhancing security and trust.
*A custodial wallet is a cryptocurrency wallet where a third-party service provider, like an exchange, manages your private keys. This gives them complete control over your funds, leaving you to send or receive payments only through their platform. Essentially, you trust them to secure your crypto assets instead of managing the keys yourself.
Ejara offers Investment Opportunities that enable users to invest in a wide range of cryptocurrencies, including Bitcoin and Ethereum, starting from as little as 1,000 CFA francs.
Additionally, Ejara offers savings plans with annual interest rates of up to 5%, enabling users to grow their funds over time and crush their financial goals efficiently.
Furthermore, Ejara’s services extend beyond investments and savings; the platform facilitates cryptocurrency payments to over 50 countries, allowing businesses to pay subsidiaries, suppliers, or employees globally and operating 24/7.
The company raised $2 million in its early stages to expand its impact-focused crypto services. This funding has been instrumental in scaling operations and reaching a broader audience. Within 14 months of its launch, Ejara expanded its user base from 8,000 to over 70,000 across nine Francophone African countries, including Cameroon, Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal.
Nelly Chatue-Diop, being well-informed about the importance of education in financial empowerment, has integrated financial literacy tools into the Ejara platform. These resources help users make informed decisions about their investments, promoting responsible use of financial products.
While the startup primarily focuses on Francophone Africa, its creative strategy has garnered global attention. By enabling access to international financial markets through blockchain technology, Ejara fosters financial inclusion in underrepresented regions and contributes to the broader discourse on decentralised finance (DeFi).
Through establishing Ejara, Nelly Chatue-Diop addresses a critical gap in Francophone Africa’s financial industry. By leveraging blockchain technology, her startup has provided a secure, accessible, and inclusive platform that empowers individuals to manage their finances effectively. The brand’s impact resonates globally as a model for how technology can drive financial inclusion and economic empowerment in underserved communities.
