Togo’s Ollo Africa Partners with Trades Union to Digitize Artisan Savings

Economic governance

Monday, 03 November 2025 18:19

Togo’s Ollo Africa Partners with Trades Union to Digitize Artisan Savings

(Togo First) - Togolese fintech Ollo Africa, which specializes in managing traditional savings circles known as tontines, has partnered with the Union of Regional Chambers of Trades (UCRM) in Togo. The agreement aims to modernize collective savings practices and progressively integrate artisans into the formal financial system.

The initiative, supported by Ecobank, which is already a partner of Ollo Africa, is initially projected to reach over one million artisans by 2027.

The project hinges on the Ohana Africa mobile platform, developed by Ollo Africa and recently approved by the Central Bank of West African States (BCEAO). Following a pilot phase, the application will provide a secure and transparent way to manage savings, withdrawals, and loans, while also helping artisan groups achieve legal compliance.

This collaboration is significant because the artisan sector accounts for nearly 18% of Togo’s GDP and employs more than one million people. However, the majority of these workers remain outside the banking system, still relying on informal tontines to finance their businesses.

The rollout will take place across the six Regional Chambers of Trades and will be preceded by training sessions to ensure platform adoption. Ecobank will be responsible for safeguarding the collected funds and providing the necessary banking infrastructure.

R.E.D

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