NewTech Friday: ChapChap – Empowering people through the tools of technology

What led to the creation of ChapChap? 

Growing up, the ChapChap Africa Co-Founder Emmanuel Emodek did not enjoy the same privileges young boys his age did; with absent parents he was often moved from one home to another at the mercy of well-wishing relatives. As a young man desperately trying to make ends meet, Emmanuel had incredible resolve to rise above self-pity and do something to change the story of his life. He ventured into different income generating activities at a young age while he simultaneously pursued his education. Many of these businesses failed before their first year anniversary. Emmanuel realized that the main barrier causing his businesses to collapse time after time was the simple lack of access to bookkeeping knowledge and subsequently, the access to financial assistance. 

Emmanuel’s story is not unique: more than half the population of Africa, 57%, do not have access to traditional banking and financial services. In Uganda, there are only about 11 million bank account holders for a population of 40 million – that’s 27%. These high levels of financial exclusion are an important barrier to the region’s development as a whole and to individuals’ economic options and opportunities at a societal level.

Financial inclusion cannot happen if not all parties are invited to the table; it is the conversation that the bourgeoisie and the MSMEs have daily as money is transferred back and forth for well-being, goods and services. Financial inclusion strives to remove the barriers that exclude people from participating in the financial sector, and such initiatives help boost the economies of poorer regions and countries. The rise of fintech solutions like ChapChap is considered a major contributor to increased financial inclusion. For us in Uganda, the banks and telecoms have built the infrastructure but ChapChap has the vehicle to deliver practical services that offer digital financial services to the last mile.

By ensuring unfettered access to critical financial services we offer an opportunity that sets everyone on a defined journey of GROWTH!

After close to 25 years, Emmanuel reunited with his primary school teacher Ms. Monica Asiimwe Kiconco, and this reunion changed everything. They both agreed that 80% of MSME businesses never celebrate their first birthday despite their significant contribution towards making employment sustainable.

A mutual understanding was arrived at that would see them come up with a digital solution aimed at uplifting people from poverty. The name CHAPCHAP, an acronym standing for Creating Harmony Among People, was coined to that effect.

The ultimate success of the ChapChap ideation was realized when Emmanuel and Monica finally collaborated with Alituhikya James. James breathed life into the project with his high level of tech related expertise and went on to offer various solutions to many of the obstacles that were holding Emmanuel and Monica back. 

Today, the company remains committed to ensuring that the micro, small and medium enterprise owners run sustainable businesses and are not left out in this digital era.