Currently in Africa there has arose digital micro lenders who are lending cash with a margin of as high as 10-20 % as interest rate for a 3 weeks loan and daily charges for default or late paid loans.
Though the loans are convenient they are exorbitant and even more expensive than bank loans. @TodayTech limited our plan is to negotiate commissions on products /services and end the people loans with no interest for daily upkeep basically loans of between $10 - $100 but in terms of commodities and services.
This interest free loans will enable the people who are currently unable to get funds from current micro lenders because of the rates to be able to be included in the financial pyramid.
Our Aim is therefore to raise funds to be able to pilot this project with around 1000 low income earners from some of the slums and also middle class earners. They will be rapaying the same principal borrowed hence it is like they did shopping.