Ostrii: Revolutionizing Financial Education in Rural Africa

Ostrii, developed by Rural Inclusion CIC, has won “Best Non-profit in a Developing Economy” at the MAIAs.

This groundbreaking initiative is transforming financial education in rural African communities. It is also promoting inclusivity.

Through its innovative digital offline app, Ostrii delivers easy-to-understand animated videos in local languages. These empower smallholder farmers and bridge the gap in financial knowledge.

MAIA co-founder Michael Gilmore is thrilled about Ostrii’s impact. “Ostrii brings about positive changes in rural Africa, creating opportunities for financial empowerment and resilience.”

Trudi Harris, co-founder of MAIAs, agrees, saying, “Ostrii’s commitment to accessibility and equal representation in financial education is commendable and crucial for promoting inclusive economic growth.”

Addressing Financial Education Challenges in Rural Africa

Ostrii’s innovative approach is making a significant difference in rural communities across Africa. Here’s how Ostrii is revolutionizing financial education:

• Digital Offline Financial Education. Ostrii offers an accessible digital platform with animated videos to deliver financial education. This ensures individuals with limited access to traditional financial resources can gain essential knowledge.
• Simplifying Complex Financial Concepts. Ostrii simplifies complex financial topics, such as borrowing, budgeting, agricultural investments, and crop insurance. Through engaging animated videos, Ostrii ensures clear and understandable messages, even for those with low literacy levels.
• Overcoming Delivery Challenges. Ostrii’s approach tackles common challenges associated with traditional financial education methods. These include high costs and engagement difficulties. By using digitized community agents and existing networks, Ostrii ensures widespread dissemination of financial knowledge. This is how they reach even the most remote areas.

Jack Farren, co-founder of Ostrii, highlights the platform’s effectiveness. “Our approach ensures consistent messaging while addressing challenges of traditional delivery methods. Ostrii makes financial education accessible to rural communities like never before.”

Promoting Inclusion and Closing the Gender Gap

Ostrii also actively promotes inclusion and gender equality. The platform incorporates the following strategies:

• Equal Representation: Ostrii’s content features equal representation of men and women, reflecting real lives of smallholder farmers in rural settings. This ensures that lessons are relatable and empower individuals of all genders.
• Empowering Women: Ostrii partners with Village Savings and Loan Associations (VSLAs), where 75% of members are women. Ostrii provides them with vital financial knowledge, empowering them to make informed decisions and enhance economic well-being.

Jack Farren emphasises the importance of gender equality. “Empowering women and ensuring that financial decisions are inclusive is essential. By featuring both male and female characters in our videos, we inspire and empower women in rural communities.”

Accessibility, Innovation, and Far-Reaching Impact

Ostrii’s commitment to accessibility and innovation sets it apart in the realm of financial education. The platform showcases the following characteristics:

• Offline Functionality: Ostrii’s offline functionality addresses network interruptions prevalent in rural areas. This ensures that financial knowledge spreads, even in regions with limited connectivity.
• Multilingual Capabilities: Ostrii offers content in local African languages, making it accessible across the continent. This multilingual approach ensures that individuals can engage with the platform in their native languages, facilitating better comprehension and engagement.
• Positive Impact: Ostrii’s pilot projects in Uganda, Malawi, and El Salvador have demonstrated the platform’s effectiveness in improving financial access, behavioral change, and resilience among rural communities. Partnerships with international NGOs and banks have further expanded Ostrii’s reach, with plans to scale in Tanzania, Rwanda, and Zambia.

Jack Farren shares the positive results of Ostrii’s pilot projects. “We are delighted to witness the transformative impact of Ostrii. Our platform has empowered individuals, increased financial access, and fostered behavioral change, enabling rural communities to overcome challenges and thrive.”

A Vision for Expansion and Resource Needs

Rural Inclusion, the driving force behind Ostrii, envisions expanding the platform to more countries and communities in need.

Jack Farren expresses their vision for Ostrii. “We aim to empower rural communities across Africa and ensure that financial education reaches those who need it most. By scaling Ostrii and addressing resource challenges, we can transform lives and foster inclusive economic growth.”

Joining Forces to Empower Rural Communities

Rural Inclusion, together with its network of dedicated Inclusion Ambassadors, partner organizations, and passionate supporters, remains committed to empowering rural communities through inclusive financial education. By bridging the gap in financial knowledge and fostering economic resilience, Ostrii and its stakeholders are working towards a brighter and more inclusive future for rural Africa.

To learn more about Ostrii, as well as all the other winners at MAIA 2023, visit: https://www.maiawards.org/winners-2023