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Togolese fintech company Ollo Africa S.A. has announced a capital increase, raising its equity from 68 million CFA francs to 1 billion CFA francs. The operation, approved during an extraordinary general meeting in December 2024, confirms the entry of Togolese and American business angels alongside the founding shareholders.
Licensed by the Central Bank of West African States (BCEAO), Ollo Africa focuses on the digitalization of traditional tontines and collective savings mechanisms through its platform Ohana Africa.
“This capital increase marks a turning point for Ollo Africa. It validates our approach: digitalizing tontines while preserving their social essence. Our first users confirm every day that we are meeting a real need. The trust of our investors, especially the arrival of an American partner, gives us the means to scale up and reach hundreds of thousands of African families over the next 24 months,” said Mawuna Koutonin, CEO of Ollo Africa.
The funds raised will finance an acquisition campaign in Togo, the technological development of the platform, the strengthening of teams, and financial education initiatives. The stated goal is rapid growth and a gradual expansion across the WAEMU (UEMOA) region.
To date, around 5,000 family accounts are already managed in Togo, according to the company based in Atakpamé, in a context where more than 40% of adults in West Africa regularly participate in tontines or informal savings groups, based on World Bank data cited by the firm. These mechanisms represent annual flows estimated at several hundred billion CFA francs within the WAEMU area.
The fintech still has a significant market to conquer, especially in a region where banking penetration remains relatively low. It already benefits from a strategic partnership with Ecobank, aimed at securing financial flows and facilitating banking integration. The company highlights its proprietary technology adapted to regional cultural and linguistic realities.
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