Question 1

What is AjoMoney and how does it work?

Accepted Answer

AjoMoney is a digital platform offering rotating savings groups (Ajo/Esusu), thrift contribution plans with up to 20% interest per annum and micro-loans, personal savings with up to 12% interest, investment clans, buy now pay later, and cooperative management. Users join rotating savings by connecting a payment card and selecting a group, save consistently in thrift plans for credit access, set personal goals with a minimum of ₦500 locked for 90 days, invest collectively, or shop on installment with virtual cards.

Question 2

How much does AjoMoney cost?

Accepted Answer

There are no hidden fees. Deposits into and transfers from AjoWallet cost ₦50, while AjoPay wallet transactions are free; default fees apply for missed thrift contributions, such as ₦500 monthly or ₦1000 administrative.

Question 3

What countries does AjoMoney operate in?

Accepted Answer

AjoMoney operates primarily in Nigeria, with its digital savings platform, app features, and micro-credit services tailored specifically for the Nigerian market. The app allows users to digitize traditional group savings (known locally as ajo, esusu, or adashe) and access financial services.

Question 4

How do I sign up for AjoMoney?

Accepted Answer

Complete account setup, connect your payment card, and start payments on the app. You need a minimum of ₦500 in your AjoWallet for personal savings.

Question 5

Does AjoMoney have a mobile app?

Accepted Answer

Yes, AjoMoney has a mobile app. It is available on the Google Play Store.

Question 6

Who is AjoMoney best suited for?

Accepted Answer

Ajo is best suited for individuals seeking rotating savings, thrift plans, personal savings, micro-loans, investments, buy now pay later, or cooperative management, especially underserved Africans, SMEs, corporate workers, cooperatives, merchants, and agents.

Question 7

How do I contact AjoMoney support?

Accepted Answer

Contact Ajo support via live chat on the app or website.

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