Digest in 3, 2, 1
2022 is a year of expansion for Cycle Connect. Over the past three months, our team has been hyper-focused on putting the right pieces in place to help us scale our operations across northern Uganda to create access for more rural communities. In this Last Mile Dispatch, we are providing an update on our most telling impact, biggest updates, and most impactful story from the last few months.
The 3 most telling DATA POINTS:
Launched 3 rural sub-offices- From January to March, our team successfully launched three rural sub-offices across northern Uganda. These new offices will enable our team to create access to financially excluded communities and reach them faster than ever before.
Planned a total of 6 rural sub-office launches in 2022- In addition to the three rural sub-offices our team has already launched this year, we are planning to launch three more rural offices before the end of the year. These six offices will open up new markets for Cycle Connect and allow us to deliver our transformational products even further into the last mile.
Recruited 12 rural sales agents- Our new rural sub-offices also create new job opportunities for rural youth. This quarter we have hired 12 rural youth sales agents to drive sales in these last-mile communities.
The 2 biggest UPDATES:
Testing a rural sales agent model- In Q3 (January – March 2022), we implemented a rural sales agent model. This sales model will support our expansion plan and allow Cycle Connect to penetrate into deep rural areas. We’ve already hired 12 agents and we’re currently doing primary research to give us further insights into expanding this model.
Developed an interactive map of our operations- Our Operations Department is working to develop a map that shows where all of our clients are, along with which products they received. This will inform our team about new market opportunities and aid in our expansion across Uganda.
The #1 most impactful STORY: Otoo Tonny
Like many of the rural Ugandans that we work with Otoo Tonny had no previous experience with financial services. In 2018, Tonny received his first loan from Cycle Connect for a bicycle. The bicycle aided Tonny in kickstarting his toy business–enabling him to travel far distances to sell his products.
His first encounter with financial inclusion set Tonny on a journey of investing. He used the profits from his increased sales to purchase land and to invest in a pair of oxen and plow from Cycle Connect to provide food security for his family.
Most recently, Tonny decided to invest in a motorcycle from Cycle Connect. With his bicycle, Tonny was able to earn an average of $85 a month selling his toys–this is huge in and of itself. What’s more though is that Tonny’s motorcycle has enabled him to grow his sales up to $500 a month!
Tonny is using his increased profits to put his younger brother through school and to build his family’s first permanent house.
“I appreciate the loans from Cycle Connect because it’s what helped me build my house, grow my business, and buy a plot of land. I thank the Cycle Connect team for believing in my capabilities, especially at the time when I was just starting with my first loan.”