Adashi: Digitizing Trust and the Future of Informal Savings in Africa
- Mandilakhe Somdle
- Aug 5
- 3 min read
Updated: Aug 25
In the crowded streets of Kano, where legacy savings systems have served communities for generations, a quiet revolution is underway. It’s being led by Adashi, a digital solution that blends tradition with innovation, founded by Ahmed Idris and Umar Zakari, two entrepreneurs driven by purpose and lived experience.
For Ahmed, the spark for Adashi came early. As a teenager managing his mother’s pharmacy, and later launching several ventures of his own, he noticed a recurring challenge: everyday people, especially women, micro-entrepreneurs, and low-income earners, struggled to access formal financial services. The systems that did exist were often intimidating, inflexible, or simply out of reach.
Adashi emerged to change that.
Solving a Grassroots Problem with Digital Precision For Informal Savings
In Nigeria, over 38 million adults remain outside the formal financial sector, relying instead on informal thrift collectors, locally known as esusu, ajo, or adashe, to manage their savings. While trusted in their communities, these collectors often face challenges with transparency, fraud, and defaults.
Adashi digitizes this age-old system, offering a safe, transparent, and scalable platform that empowers both collectors and savers. By providing tools for tracking contributions, managing groups, and ensuring accountability, Adashi is restoring trust and expanding access, particularly for women and MSMEs who’ve historically been underserved.
A Vision Rooted in Lived Experience
Ahmed and Umar didn’t start with a flashy pitch deck. They started with real conversations, interviewing grassroots thrift collectors and savers across communities to understand their needs. It’s that user-first approach that still guides the platform’s development today.
One defining moment for Ahmed came while speaking to a woman at one of Adashi’s agent points. She told him how her informal savings had allowed her to educate all seven of her children, a powerful testament to the life-changing impact of simple, consistent savings tools. That moment cemented his mission to scale Adashi’s reach to millions more like her.
Growth Without Waiting for Permission
Like many African founders, the Adashi team faced an uphill climb. Starting during the pandemic with limited capital, they bootstrapped their way forward, leveraging savings and funds from other businesses.
To date, they’ve raised over ₦45 million and are seeking $200,000 in 2025 to scale product development and expand across Nigeria and West Africa.
Their strategy? Sustainability first. Rather than chasing short-term wins, Adashi is focused on building real value, maintaining disciplined operations, and driving user adoption that sticks.
AfricArena and a Moment of Recognition
At the AfricArena Lagos Summit 2025, Adashi didn’t just pitch, they made a statement. Winning the Most Promising Entrepreneur Award was a powerful reminder of their potential, but for Ahmed, it was also a call to action.
“It felt good, but for me, the award was just a reminder of the work ahead,” he reflects.
Measuring What Matters
Adashi’s impact isn’t theoretical, it’s visible. From increased digital savings among MSMEs to greater transparency in community thrift systems, their metrics are grounded in people and progress:
Thousands of informal savers brought into the digital economy
Enhanced financial literacy and transparency
Safer, more accountable savings groups
A 5-Year Vision: 1 Million MSMEs Empowered
Looking ahead, Adashi is on a mission to democratize financial access for 1 million MSMEs across the continent. It’s a bold goal, but one grounded in deep community engagement and a scalable digital model.
Ahmed spends his days at the intersection of business, innovation, and impact, mentoring youth, supporting micro-entrepreneurs, and solving real-world challenges.
Words of Wisdom
When asked what advice he’d give to young Africans building in this space, Ahmed is clear:
“Keep learning. Never assume you know it all.”
And for those just starting?
“Focus or niche down early. Solve one clear problem first.”
Beyond Banking, A Movement of Trust
Adashi isn’t just offering financial tools. It’s restoring trust in systems that underserved communities have relied on for decades, now with digital safeguards and scale. It’s showing that the future of African fintech doesn’t have to erase the past. Instead, it can elevate it.
Discover more from Adashi at http://www.adashi.ng
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