In an era where the working class of society is on the rise in many African cities, one of the home tasks that appears tedious is doing the laundry. It is this gap and stress Forhey an on-demand laundry services is filling in Accra-Ghana.
The Spirited Hub got the chance to meet up with the C.E.O. of this startup who sheds more light on their operation.
Daily chores can be tiresome and time consuming which reduces a person’s productive time significantly in times when 24 hours in a day are not enough. One such arduous task is doing your laundry. Forhey has worked its way around the whole laundry business taking it online and wooing its customers with efficient, convenient, and affordable service just by a tab of a button on a mobile phone.
Forhey, the on-demand laundry and dry cleaning service, vows to take the woe out of washing by delivering a fresh service to the Ghanaian consumers’ doors. In times when you can shop, order food, entertainment and even bank online with a click of a button. Forhey offers customers a full dry cleaning and laundry service with a tab of a button without the need of leaving your sofa. The whole service takes the stress out of washing at an affordable price. The service launched in January 2015 is already operating in several locations with the city with a view for further expansion in the coming months.
“Forhey is bringing a completely new on-demand service to the existing laundry market – we offer high quality, state-of-the-art services through our handpicked, trusted partners and unrivaled customer service,” said Kelldick, co-founder.
“Forhey is at the heart of the emerging mobile on-demand ecosystem. We are committed to changing the landscape of logistics and on-demand technology in Ghana by offering a streamlined way to give people back time in their day by eliminating the need to do annoying chores.” – he concluded.
As soon as someone “Schedule a Wash“, from their mobile app or on the website, they assign one of their trained friendly “Heygirls” to pick up your clothes for cleaning, and within 24 hours clothes are delivered in reusable bags, washed and ironed. Their pricing is indeed affordable considering the superior customer service, packaging, and the convenience you get. Your clothes come back literally as though you just bought them new. They are currently giving GHC20 off on your first order using the app (http://bit.ly/1J5uTLp) or website (www.forhey.com) with the code FH15.
The Road So Far
The company has a good traction till now and majority of the customers are busy and overtired parents, students, the growing expat community, and time-strapped professionals who are busy with their lives and care a great deal about their clothes. The startup revealing statistics said that their recurring customers includes up to 25% of people who never outsourced their clothes because either they had a maid or washing machine at home but tried Forhey and are satisfied with the service especially in the current national power crisis.
In times when ecommerce is gaining traction, there was a void in consumer services as they weren’t provided online. Forhey aims to change this scenario and make laundry and other verticals as easy as just a tab of a button on your phone. The concept is appealing to those who want to spent time in their functional areas doing what is really important instead of spending that time doing laundry.
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Rahmon Ojukotola: StartCredits Hopes to Save Nigerians Billions of Naira
High interest rates on loans are a barrier to growth and economic prosperity, which is why StartCredits has developed an innovative way for Nigerians to borrow quick online loans without collateral on its loan market comparison platform.
It is the aim of this fin-tech startup to help Nigerians access finance and save money by comparing loan providers. Rahmon, the Director of StartCredits is strategically growing this company to be the preferred loan market for a number of online borrowers.
Rahmon Ojukotola currently sits on the advisory board to the Florida schools group and previously worked at the Bank of England and UBS. Our startup founder, is also a Chartered Accountant and a member of the Chartered Institute for Securities & Investment, the Institute of Chartered Accountants in England and Wales and the Royal Economic Society.
With these credentials, he surely has what it takes to lead the competitive loan market. Let’s find out what Rahmon has brought into the market and his life as an entrepreneur.
How is StartCredits disrupting the traditional borrowing in Africa as you suggest?
StartCredits is disrupting traditional borrowing, as our product provides transparency and increases competition in the market to reduce interest rates for qualified borrowers. It also provides a new channel for Nigerians to borrow money.
From your enviable background why did you decide to leave all that to start a startup in Nigeria?
I worked in investment banking and central banking for a number of years and gained a finance MSc from the London School of Economics and chartered qualifications in accounting, investments, securities and finance. I decided to build a startup in Nigeria because there were opportunities and issues that needed tackling, and I thought I had the right skill set to do so. So I gave up a well paying job and decided to come back to try and build something that would hopefully contribute to the growth and development of Nigeria.
How unique are features of StartCredits?
We are the first and only business in Nigeria offering our services to all Nigerians who need loans. We have developed innovative proprietary risk models that accurately measure the borrowers probability of default. This improves our partner lenders’ ability to assess risk, and enables them to disperse more loans to qualified borrowers.
What has been the major achievement StartCredits has chalked since you commenced operation?
We have helped thousands of Nigerians to save millions of naira in interest rate so far and hope to save billions of naira in the coming years.
As much as people really need loans, Rahmon, what is your advice to stay out of debts?
My advice to Nigerians is to ensure you do not take out loans to fund lavish expenditures, loans should be used to finance good business plans. Also remember to budget for interest and other fees in any loans you do take, to stay out of debt. For more technical advice on debt management visit our website on http://startcredits.com
One of the notable features of your company is the stress on Data Science, how relevant is it?
Data science is at the heart of what we do at StartCredits. We utilise big data analytics to build innovative credits risk models, which help facilitate affordable lending to underserved qualified borrowers.
What great challenge are you facing in running your startup?
It’s pretty much to do with the adoption of the technology. Technology in general is all about finding the best ways to do things. In certain industries it’s easier to have the incumbents accept that, whereas in finance, people have become entrenched in how they do things. It’s highly profitable, so there’s more resistance to changing a winning formula. Finance is highly resistant to change, but people are slowly starting to adapt as you’re seeing with Blockchain technology, which I think has the potential to revolutionize the finance industry. The banks are slowly coming around, but are still highly resistant to change given the nature of the business. In Nigeria, it’s mostly trying to get the people to use the technology. People are highly suspicious of new technologies, so it’s a bit of a challenge
How do you foresee this industry going into the future?
The lending market in Nigeria will be one driven primarily by digital lending in the future, as it is more efficient. I also feel we will continue the cultural tradition of thrift lending (Ajo, Esusu), as it fosters community cohesion.
Tell us which African entrepreneurs inspire you and why.
I think all African entrepreneurs that have built successful business in the face of significant challenges deserve commendation. Saying that I find Ola Orekunrin’s work saving lives with flying doctors to be truly inspiring to all Nigerians and especially young girls. She is a role model who shows them if they study and work hard they can have a significant impact on the lives of many in Nigeria.
What financial advice can you share with fellow startup founders and aspiring entrepreneurs across Africa?
My advice to entrepreneurs across Africa is to make sure that everything you’re doing is simultaneously helping you achieve your goals and make profits as well. Don’t leverage too much and try not to grow too fast. Also, make sure that what you’re doing is what people want. The whole point of doing business is addressing the needs of society. So make sure you do your extensive research, go out and meet people to listen to what they’re saying, and make sure you have the right skill set to execute your plan. Once all of that is in place, you’re good to go.
Thank you, Rahmon!
To find out more about loan rates and the company, kindly visit startcredits.com.
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