When we discovered Soso Care, we were pleasantly surprised by the originality of the concept. The Nigerian startup exchanges recyclable waste for health insurance. This innovative idea was born in the mind of Nonso Opurum. Today, his innovative young company allows many citizens to benefit from health coverage while getting rid of their waste. A concept thanks to which Soso Care contributes to the achievement of several sustainable development objectives (health and well-being, reduced inequalities, responsible consumption, among others).
When recycling is a way to heal
More and more innovative solutions are being developed on the continent to respond to the concerns of the population. Soso care is one of them. Born in 2019, the startup is an insurtech with a particular approach. Indeed, while traditional insurance companies only collect financial contributions, Soso Care requires recyclable waste as a priority. Nonso OpurumIts co-founder and CEO is a former banker turned social entrepreneur concerned with improving access to health care for his people. Indeed, the problem of inequality in Nigeria also affects the health sector. Even today, millions of Nigerians do not have health coverage.
The country is also overwhelmed by a mass of solid waste: 14 million tonnes generated per day. Poor health outcomes and pollution problems are a brake on poverty reduction. And low insurance penetration does not help. While working on a telemedicine project, Nonso Opurum came up with an alternative that could alleviate the above problems: Soso Care.
Soso Care: the innovative approach of an emerging micro-insurance solution
You are probably wondering how waste can be a substitute for money. In reality, Soso Care uses them as financial resources by selling them. In practice, Soso Care converts these recyclables into money by selling them to provide access to health care for people. The funds obtained in this way enable slum dwellers, particularly women and children, to benefit from micro health insurance that can be used in more than 1,000 hospitals in the country, as well as food vouchers. Thus, with 3 kg of plastic waste per month, it is possible to benefit from health care.
This very simple system helps to address three different problems in Nigeria: low insurance penetration, pollution and unequal access to health care. The innovative company operates in the unorganised informal sector and targets the most underserved communities. Users can of course fund their own savings plan, but the exchange with recyclable waste is Soso Care's forte.
The startup has also joined forces with public services, companies or trade unions to carry out waste collections in exchange for health coverage for targeted groups. As for the conditions covered, they are rather light, as the microinsurance does not cover for example cancer or diabetes.
Visible impact and internationally recognised work
Soso Care has been listed by UN Habitat as one of 20 companies using waste to create wealth. It was also one of the five finalists in the World Bank's Smart City Challenge Youth Summit. Soso Care competed with 885 applicants from 98 countries around the world. This recognition is well deserved as the startup contributes to the achievement of several Sustainable Development Goals thanks to its innovative approach.
Soso Care is facilitating health inclusion in Nigeria, increasing insurance penetration while combating pollution and its impacts. Today, it has 19 collection centres in Abuja, Abia and Kaduna. Nonso Opurum is aiming for 600 to 700 centres around the world. It has a good chance of doing so, as its business model has attracted the government of Bangladesh, which provided funding to the start-up in 2020 to roll out its service in this South Asian country.
