Collo Africa | A Better Banking Experience

Merry-Go-Round

Create wealth and shared prosperity with Collo Africa's tech-driven solution for managing traditional Ajo, Esusu, Adashe, and ROSCA saving groups.

Become a member

Building Trust and Sustaining Tradition

We combine the cultural benefits of Ajo with the secure capabilities of a FINTECH platform to enable you pool resources together and reach larger financial goals.

SSL Secured: Learn More

How it works

Create wealth and shared prosperity with Collo Africa's tech-driven solution for managing traditional Ajo, Esusu, Adashe, and ROSCA saving groups.

Sign up for a free account on ColloAfrica
Complete KYC form
Create a new savings group or join an existing one
Select or put together a group that matches your financial objectives and invite saving partners to join your group via a secure link
Start Depositing Your Contributions
Pay in your contributions are the intervals you selected (daily, weekly, monthly etc.)
Collect When it Is your Turn
Automatically receive your total savings when your allocation time comes up.

Committed to your Security

We use SSL SHA-256 encryption algorithm to ensure that all personal data remains private and secure. We do not store bank card information on ColloAfrica and we have put in place additional physical, electronic, and procedural controls to safeguard all information and transactions processed on our platform.

Save for Generations

MGR helps achieve today's needs and tomorrow's dreams. Whether it's emergencies, business ventures, bills, or long-term wealth, our platform makes your financial goals easily attainable.

Additionally, you can put your savings towards creating generational wealth with Collo Africa's investment services.

Become a member

Achieve your financial goals faster, together

Savings are more rewarding together. MGR connects you with like-minded partners for diverse savings and investments. Break free from location constraints and start saving digitally.

Support

FAQs

Everything you need to know about the product and billing. Can't find the answer you're looking for? Please chat to our team.

How does MGR benefit me?
It is a stress free way to start an Ajo group and you can easily join one as well. Once you set up a group no need to chase people to collect the funds, you automatically get debited on the same day and the person receiving the money gets it on the allocated date. There is also a 10% commission for anyone who starts a group and they get paid after the first successful contribution. This is a limited time offer.
What happens when someone defaults?
If there is insufficient funds on any of the members account, a reminder will be sent. If the transaction fails again after 48 hours, defaulting members will be contacted and then any further delay funds may be recovered using BVN. After two defaults, they will be removed from the plan.
If someone defaults do I get the complete payout?
You can only get the sum of what was successfully collected from all participating members.
How do I make people join an Ajo plan?
You can share the benefits of the platform with friends, family, and colleagues. However if you are unable to put together a group of people to do an Ajo with, reach out to us and we will match you with vetted people you can start a contribution group with.
How do we stop if we no longer wish to continue?
Typically our platform does not allow change once a plan starts to ensure every participating member has a chance to collect their turn. In the event where everyone has agreed to end the plan you can email usand request to stop plan
Can I use ColloAfrica features without adding BVN?
BVN is necessary to verify your identity and keep the platform safe for you and everyone who uses MGR and ColloAfrica. It reduces the risk of fraud and gives you access to even more financial products and benefits. Also for regulatory requirements, we need to comply with government guidelines for financial institutions.
I did not receive the Sign up OTP, Why?
Ensure the email you provided is correct and try again. You check also spam if emails do not drop directly to your primary box
Sign up OTP Email is blank
Check your internet connection and send an email to info@hedgeandalpha.com if issue persist
Why is my BVN not accepted
Check if your BVN matches your details as this is very important for virtual account creation
I have funds in my account but not deducted.
Ensure the funds in your wallet is enough for the required transaction
What are the Plan duration available on MGR
We have Daily plan, Weekly plan and Monthly plan
Why do i need a virtual VFD bank account ?
A virtual VFD bank account is created immediately your BVN is verified, this will enable you to use all the services on ColloAfrica
Can i Change a plan after it starts?
No. Plan details can only be edited before the plan starts
Can i join more than one plan at the same time?
Yes, you can join a plan created by another admin.
How does MGR Work?
MGR works just like your traditional group contribution (ajo) but more refined and digitized. Parameters for the MGR is set and Slots are selected by participating members. Virtual accounts are created and the plan starts. Allocation are made based on the slot of position picked.
What is your MGR plan cancellation policy
Typically our platform does not allow change once a plan starts to ensure every participating member has a chance to collect their turn. In the event where everyone has agreed to end the plan you can email us and request to stop a plan. Our support team will guide in the process.
How can i change my account email?
An email account attached to a virtual bank account created on ColloAfrica can not be changed by a customer. Kindly contact support promptly.