Four African entrepreneurs have been listed among the 28 global game changers on the Bloomberg New Economy Catalyst 2022 list. They are Wemimo Abbey, co-founder and co-CEO of Esusu, Odunayo Eweniyi, co-founder and chief operating officer of PiggyTech Global Limited; Olugbenga Olufemi, founder and CEO of Reddi; Gregory Rockson, Co-founder and CEO, mPharma.
Bloomberg said in the list released on Wednesday that the 28 leaders are leading the world toward a more equitable, inclusive, and sustainable future. On this list of global trailblazers, you’ll find innovators at every stage of their careers, from promising startups to unicorns.
According to Bloomberg, Wemimo Abbey is devoted to helping households with low-income build credit by making on-time payments.
Rent is often the largest household expense, especially among the poor. But for more than 90 per cent of American tenants, monthly rent payments aren’t factored into credit scores—which makes it hard for renters to ever buy a home even if they pay on time month after month. Esusu bridges this gap by reporting rent payments to the three major credit bureaus—Equifax, TransUnion, and Experian—helping renters establish and improve their credit profiles.
Odunayo Eweniyi was recognised for encouraging economic growth in Africa through automated micro-savings.
As long as cash is king in Africa, the poor will struggle to save enough money to make bulk, upfront payments for essential transactions such as apartment rentals. To help them, Nigerian activist Odunayo Eweniyi created PiggyTech Global, whose PiggyVest automated micro-savings and micro-investment service is aimed at making finances simpler and more transparent for low- and middle-income earners. The platform offers competitive savings interest rates and encourages discipline with few free withdrawals. The company says it has 4 million users and more than $200 million in assets under management.
Olugbenga Olufemi for providing clean, reliable, and affordable electricity to energy-poor places.
More than 900 million people in Africa have either unreliable electricity or none at all. Nigerian-born engineer Olugbenga Olubanjo Olufemi has created Reeddi, a hardware-as-a-service company that charges consumers a small daily fee to easily access a reliable supply of off-grid electricity from renewable energy sources anytime, anywhere. Reeddi’s solar-powered batteries can be rented in a local corner store for as little as 50 cents per day, which Olufemi says can cut a user’s energy expenses by 30 percent.
Some of the Bloomberg New Economy catalysts are Tamar Mohammed, Emma Sánchez, Andrade Smith, Amira Yahyaou, Andrés Gutiérrez, Omar Abudayyeh, and Azeez Gupta.