Ubuntu Capital offers an online marketplace for services. Africa’s economy is stunted by opaque markets. Market opacity is driven by a large informal sector (90% of the continent’s GDP) and continued urbanization within the region. As young adults flock to cities for education and work, tribal networks and rural familiarity is lost, making competence and trustworthiness difficult to assess in undocumented, anonymous, highly-populated environments. This results in high transaction costs and friction associated with identifying qualified, reputable talent. Many skilled individuals are jobless and bad actors proceed unrecognized. This cycle erodes economic growth and societal trust.
The Ubuntu online marketplace (launched August, 2015) allows individuals and SMEs in urban Africa to document their economic activity, review one another on services provided, build their professional reputations, and market their businesses through consumer reviews. Using raw rating data from customers, Proficiency Scores are generated, which quantify a member’s strength at a particular skill. Likewise, Employer Scores quantify a member’s reputation as an employer. This visibility dramatically reduces transaction costs and risk stemming from uncertainty in an otherwise data-poor environment.
Our current product is web-based. However, a feature phone version is under development and a native application will likely follow.
Publicly available: No
Countries where available: Uganda
Price range: Free