eQub; a merge between traditional and modern finance

EQub, a financial services tool designed and implemented by eQub Financial Technologies, is an online saving platform that seeks to merge tradition with modernity by applying technological tools to traditional saving practices.

The tradition of eQub is an Ethiopian tradition where a group of relatives, friends, or people within specific communities agree to contribute a certain amount every month and take turns in taking in the amount collected. The online platform eQub, applies the same concept and adds technological features giving users access to larger groups of people.

Equb Technologies was founded by Yohana Ermias (CTO) and Alexander Hizikias (CEO). According to Yohana, eQub mimics the traditional and physical aspects of eQub while integrating it into the growing ecosystem of online financing.

The eQub app is available only on Google Play Store for now with an Apple Store version in the works. The app offers various amenities such as eQub points (rewards points for active users who adhere to the principles of eQub), ‘trusted eQubs’, and much more.

More than 30,000 users are expected to register within the first three months and the founders even plan on integrating their platform with banking services to create an ‘eQub Pay’ platform for digitial financial services.

Shega

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