By Francis Kobena Tandoh
In a significant stride towards enhancing traditional savings methods, commonly referred to as ‘susu’, Ghanaian fintech company IT Consortium’s crowdfunding platform, Chango, has amassed over 45,000 users across Ghana, Liberia, Rwanda, Kenya, and Zambia. This widespread adoption underscores Chango’s reliability and effectiveness in facilitating transparent group contributions and fundraising initiatives.
Among its notable users is the Achimota Old Students Association (1998 Year Group), which successfully raised over GH₵1 million through Chango for their legacy project and anniversary celebrations. This achievement highlights Chango’s capacity to support substantial fundraising efforts for community development projects.
Unlike traditional ‘susu’ schemes, where contributions are typically kept by an individual, posing potential flight or fund mismanagement risks, Chango empowers each group member to have a say in the contributions and their utilisation.
Launched in 2022, Chango was developed to support individual, group, and organisational fundraising needs in Africa and beyond. The platform addresses the shortcomings of traditional ‘susu’ savings schemes, which often lack transparency and pose risks of fund mismanagement. By incorporating advanced security features and a user-friendly interface, Chango offers a secure and efficient platform for group savings and crowdfunding.
With Chango, friends, families, colleagues, churches, societies, and organisations can form private or public groups to raise funds for any cause or campaign. The platform allows group members to set their terms and conditions, including determining the number of approvals required for cashouts. This ensures collective decision-making and enhances trust, transparency, and accountability among contributors.
Since its launch, Chango has facilitated the raising of over GH₵20 million, supporting various social intervention programs across Africa. This achievement positions the platform as a preferred choice for Africans seeking to raise funds for diverse causes, effectively connecting them with individuals willing to help.
Chango’s impact extends beyond alumni associations. The platform has been instrumental in facilitating IT Consortium’s corporate social responsibility (CSR) activities, including consistent support to the National Cardiothoracic Centre at the Korle-Bu Teaching Hospital, which has funded heart surgeries for children in Ghana. Chango also played a significant role in IT Consortium’s partnership with Sunny FM in support of victims of the recent Akosombo Dam spillage.
Additionally, Chango has supported the ongoing establishment of an inpatient Clinical Trials Unit at the University of Ghana Medical Centre and provided academic and financial assistance for girls, including those with special needs, through Ghana’s Girl Child Education Initiative.
Accessible via mobile phones, Chango can be downloaded on the App Store and Google Play, enabling individuals, alumni groups, churches, and organizations to participate in secure and transparent fundraising activities.
With its growing user base and successful track record, Chango continues to redefine group savings and crowdfunding across Africa.
Source: Ghana Eye Report
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