Thrifto Digitises Nigeria’s Ajo and Esusu, Bringing Transparency to Traditional Savings
Lagos‑based fintech startup, Thrifto has announced its launch of a digital platform to create an advanced technology form of traditional “ajo” and “esusu” saving systems. This platform will promote transparency, proper structure and record-keeping for millions of Nigerians to rely on for daily financial needs. It will also help to digitise group savings while also securing the cultural trust and simplicity of the system.
Thrifto will allow users manage contributions, access pooled funds, and also participate in revolving savings groups through a mobile app. The goal is to increase financial inclusion for people, lower the risk of fraud, and promote transparency by digitizing these rotating savings setups, which are locally known as Ajo in Yoruba and Esusu in other regions.
According to the Founder and CEO Sulaimon Durojaiye, highlighted that;
“We saw an opportunity to bring technology into traditional savings practices without losing their social and cultural essence,” he said. “Our goal is to empower communities with tools that make saving easier, safer, and more scalable.”
Additionally, the launch places Thrifto in the context of a larger wave of Nigerian fintechs that are transforming informal financial systems, such as digital microcredit, savings apps, and community finance platforms. These organizations are contributing to a quickly developing ecosystem that supports the development and inclusion of digital finance.
Thrifto's digital platform might greatly boost access to organized savings mechanisms given Nigeria's substantial unemployed and low-income population. This would enable individuals and communities to improve their financial security and more effectively access pooled assets.
About Thrifto
Thrifto is a Nigerian fintech platform focused on digitising traditional group savings systems such as Ajo and Esusu. Founded by Sulaimon Biodun Durojaiye in 2024, the platform is created to ensure groups and individuals can seamlessly organise, manage, and track their rotating savings contributions through a secure digital interface.
The platform allows users to create savings groups, set contribution schedules, determine payout orders, and monitor all transactions in real time. By replacing manual record-keeping and cash handling with digital tools, Thrifto aims to improve transparency, accountability, and efficiency in community-based savings arrangements.