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The browser title says "2025 year in review" but the heading and narrative say "2024 Year in review!". The source also contained editor placeholder copy and an unlabelled "Click Here" control. This record does not resolve that date conflict or turn projections into results.
2024 Year in review!
Over 135 million people reside in the WAEMU zone, a region comprising eight West African countries. However, as of June 2024, the BCEAO (Central Bank of West African States) recognizes only 539 microfinance institutions in this region, serving nearly 19 million underbanked clients. This leaves at least 116 million people still unbanked or severely underbanked, underserved, and undercapitalized. Many institutions are overlooked by the BCEAO for various reasons.
These are the people our company, Microfinance Pro, focuses on. Our mission is to help at least 100 million underbanked and unbanked individuals digitize and secure their transactions, and transfer money locally and globally with their peers (also millions of people), in a way that our competitors are not yet doing.
Like most startups, our year 2024 was a journey filled with both triumphs and trials. Despite the hurdles, our commitment to empowering underserved communities has remained unwavering. We need your support to continue this vital work, and we invite you to join us in making a difference.
The population subtraction is the source's assertion, not an independently established unbanked-population estimate. The 100 million figure is a mission, not a customer count.
Survival and Recognition
This year, we faced significant financial challenges but managed to avert disaster thanks to the unwavering support from Microsoft for Startups, recognition through national awards in 2023 and 2024, support from the Togolese and German governments who promoted us, and made time and human resources available to Microfinance Pro.
These endorsements have been crucial in keeping our vision alive. Last but certainly not least, our pilot companies' patience have kept us focused on a goal and customers. We have offered a free product to date with a minimal yearly membership fee for our partner institutions, and this has contributed to our low revenue for the last few years, but it was evident we needed to improve our product, and make it a paying product.
The linked press independently corroborates the 2023 Togo Digital Awards category win, reported in February 2024. A separate 2024 award, government support and Microsoft arrangements require owner evidence.
Product Improvement and Development Progress
We made substantial strides in enhancing our product and implementing our evolved vision, which sets us apart from our competitors. We collaborated with innovative founders working on crypto transfer solutions, including a professor from Harvard University.
We have conducted preliminary testing of institution interconnection, simplifying money transfers between microfinance institution.
We are currently testing transfer features and exploiting the opportunity to interconnect microfinance institutions via our software. This innovation could revolutionize financial services for undercapitalized sectors. In June 2024, the Central Bank of West African States (BCEAO) launched new software to facilitate instant payments among banks. This technology is not yet available to microfinance institutions, presenting a unique opportunity for Microfinance Pro.
Testing and proposed integrations described here are historical development statements, not a representation that production money-transfer capabilities are available.
Partnerships and Interest
We participated in the Togo Digital Awards immersion program in Nigeria, where we connected with large potential partner companies (>500k users).
Two of our pilot companies have renewed their interest in working with us. Although the third company closed, its executive director has agreed to join us as a consultant and actively help us sign 30 similar institutions. Our first strategy session started this month. He stated, "This problem is real, and Microfinance Pro can solve it."
With minimal funding for our sales operations ($10k), we will work together to generate $5,000 to $18,000 per month within three months. Our more aggressive goals of $1-5M over 13 months will require more serious investment ($100k+).
Two new companies in Togo have expressed interest in our product, signaling a persistent demand for our solutions. Our existing database of interested companies remains unchanged.
The funding and revenue amounts above are source projections, not achieved revenue, investment advice or an active fundraising offer.