Model & Strategy

Rapid technological advances have driven the adoption of convenient, low-cost, mobile banking in developed economies over the last decade. In contrast, most people living in sub-Saharan Africa are “financially excluded,” and still lack access to the formal financial system. To address this problem, MaTontine provides access to small loans and financial services like micro-insurance to the financially excluded in Francophone Africa. They are tackling this problem at scale by combining the best of digital technology, offline social infrastructure, and partnerships with existing financial institutions, to create a platform that provides the base of the pyramid with high-value financial products at low cost.

At a Glance
Founded: 2015
Economic Empowerment
Location of work: International, Africa
MaTontine Inc.
Avenue Cheikh Anta Diop
Barsalam Bldg, Door C, Fl 4
BP 16804, Dakar – Fann, Sengal
Unlocking access to financial services for the financially excluded in Africa.
An African woman shows her phone with her Matontine savings numbers displayed
MaTontine brother and sister founders Bernie and Tosan
Meet Bernie Akporiaye and Tosan Oruwariye

Bernie Akporiaye (CEO) and Dr. Tosan Oruwariye (Director of Strategic Partnerships), MaTontine’s brother/sister founder duo, are Nigerian ex-pats with extensive professional experience in the US, UK, and Africa. Bernie worked for 20 years in software in the US, and after marrying a Senegalese woman, moved to Senegal and set up as a software consultant in 2009. It was there that he discovered how agile and reliable tontine groups are, and began thinking about how tontine groups might be used to provide a range of financial services to BoP consumers at scale.

Dr. Tosan Oruwariye is a preventive medicine physician; she has practiced primarily in the US but also has extensive experience in Nigeria, including a 4-year stint there earlier in the 2000s.  While their shared personal mission is to help reduce poverty through technology and entrepreneurship, their ultimate goal is to move their members from poverty alleviation to wealth creation over time.


Women make up 90% of MaTontine’s member population

To date, 0% default rate on loans provided

Member contributions (savings) average $30/month

In the first 1,000 tontine members on the platform, MaTontine enabled $125,000 in loans with a repayment rate >99%.

The cost of borrowing was reduced by 75%.

  • Thank you everyone for engaging with us at this WEE Chat event. We will now pass you unto @Nathan_Inc to continue…
  • Successful advocacy that has worked with regulators have been ones where all the stakeholders come together to pres…
  • What type of advocacy has worked with government regulators and policymakers to help empower women's access to DFS #WEECHAT2019 #IWD2019
  • A5. Cultural norms are critical to developing compelling DFS. We found to our cost that when we implemented our ow…
  • Q5. How significant are cultural norms in engaging women to use services....what has worked? #WEECHAT2019 #IWD2019
  • A4. Unfortunately in our region of Francophone Africa, regulation has played a more obstructive , rather than enabl…
  • Q4. Has regulation played a role in this area in optimizing the use of DFS? What has worked? What new ideas should…
  • A3. We have found that one of the best practices is to incorporate our products into traditional systems. So the w…
  • What has been some of the best practices used to engage women to used DFS #WEECHAT2019 #IWD2019
  • A2. It's crucial to have both an offline and online approach. Online through digitization lowers the cost of deliv…
  • Q2. Have people noticed better engagement using an offline/online approach to engaging women? What does like look…
  • A.1 ability to explain the value proposition to not well educated women; cultural obstacles, lack of trust with fin…
  • Q1. What are some of the challenges you have come across in trying to engage women to use digital financial services?#WEECHAT2019 #IWD2019
  • Welcome to #WEECHAT2019, MaTontine is excited to be kicking of the chat with questions about digital financial services for women #IWD2019
  • Women make up 90% of MaTontine’s member population, now that’s women empowerment. Check out our website to find out…
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