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Help A Person In Debt Organisation (HAPIDO)

People in debt are blacklisted from getting any financial assistance ,are declared insolvent as a result they live a bad life and need help.

Photo of Karolina  Ashivudhi
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What problem does the idea help to solve and how does your solution work? (2,000 characters maximum)

Different factors including loss of income, past financial decisions, economic crisis, a simple medical expenses, death are some of the factors that can lead a person in bad debt. As a result, people in bad debt are crying for help, they are suffering emotionally and physically and need to be rehabilitated financially but it seems the society is looking a blind eye on them. They are let to removed themselves out of their own financial crises and as a result some could not handle the pressure as a result some even commit suicide. The society is failing to recognize that bad debt is a serious sickness that need to be treated like other sickness because if a person is suffering from bad debt, it can lead to mental sickness, alcoholism just to mention the few. People that are suffering from mental sickness are send to rehabilitation but to tell you the truth a person in bad debt the rehabilitation cannot help him or her much, but these person need to be rehabilitated financially. Financial literacy is something that lacks in societies. The society fails to teach people about money or debts. As a result people tend to exhaust their incomes taking more debt that they could never afford to pay. These people once rehabilitated they can be the best financial advisors ever and will be In a position to educate others as they know the danger of bad debts and they need to be given second chances because now they are declared insolvent, regarded as failures and banned by financial institutions but a person can learn from the mistake to . HAPIDO is a lucrative business aim to help people to get out of bad debt by giving the following services: Debt Counselling, Financial Literacy, Financial Assistance and Evaluation Services. Although not formally trading at this point, the organization expect to make a significant impact on the market with the implementation of its unique strategic business plan as this type of business is vacant in the market.

Geography of focus (500 characters)

HAPIDO has identified Walvis Bay as the most ideal geographical segment to focus on initially starting with. I have studied how people in my town are in bad debt and my concern or findings are supported by the people I interviewed. No such company in Walvis Bay is offering these types of services to the people including other towns. I have never heard of a company rendering HAPIDO ideal services. Further, I will the expand to other towns where there are also many people in bad debt.

Building Bridges: What bridge does your idea build between people on the move and neighbors towards a shared future of stability and promise? (500 characters)

HAPIDO services are integrated into four departments. The organisation considers the saying that goes “Teach a man how to fish and he will eat forever”. On this concept, HAPIDO is saying “Teach a person how to handle money and he will have money for ever”. For a person to work towards paying his or her debt, debt counselling is essential. For a person to fight debt they need to be educated on financial matters, after then, you can lend money to the person.

What human need is your idea solving for? (1,000 characters)

People in debt need joy and happiness. Due to bad debt their human needs are violated because as a result they are living in isolation, living miserable lives, having sleepless nights, always receiving telephone calls, letter of demands to go and pay their debt while they do not have any stream of income, meaning it will be impossible for them to pay. Their children are expelled or drop out of schools because of poverty or school/university debts. As a result, people in bad debt do not have hope anymore that is why HAPIDO came up with this idea to restore their dignity.

What will be different within the community of focus as a result of implementing your idea? (1,000 characters)

HAPIDO will have four division namely : 1. Debt Counselling Service- Debt Counselling Service-this service will offers people in bad debt debt counselling session.2. Financial Literacy Service-This service will offer financial literacy to people in debt because HAPIDO believes that many people find themselves in debt because of lack of financial knowledge. 3. Equipment leasing/ Artistic Course Study loans Service-On this department, People in the debt restoration program can apply for the purchasing of an equipment to be used for business purposes only. HAPIDO will also fund for artistic courses. After completing the course, HAPIDO will be in a position to buy an equipment of that person, in order to start his or her business. The equipment will be the part of the collateral. 4. Evaluation Service- This will be an evaluation department. HAPIDO will ensure that a person have paid his or her debt.

What is the inspiration behind your idea? (1,000 characters)

My idea is inspired by human needs and that is to help people get out of bad debt. The organisation will achieve the three pillars of sustainability namely: Environmental, Economic and Social sustainability. The organisation will engage businesses, lease equipment to environmentally friendly businesses that will ensure the sustainable use of natural resources, the preservation of natural eco systems and the promotion of good health and hygiene. On economic sustainability HAPIDO will support a defined level of economic production in the country, while on social sustainability point of view, the organisation will ensure that the needs of the people in debt are meet and priority of help should be given to them in order for the country to have a healthy, financial educated nation full of bad debt free people.

Describe the dynamics of the community in which the idea is to be implemented. (1,000 characters)

HAPIDO has carried out an extensive assessment of the market. Its findings are that there are no such businesses offering services like those offered by HAPIDO. Many people that I interviewed told me of how they spend many hours in front of computers searching for companies that can help them to get out of debt, but their searching proves abortive. The targeted people will keep on looking for service provider that will remove them out of debt with its unique services and that service will be found only at HAPIDO.

How does your idea leverage and empower community strengths and assets to help create an environment for success? (1,000 characters)

People in Namibia are living in bad debt and the evidences are also found in local newspapers. Shinovene (2018) stated that “THE number of loans taken out by Namibians but not paid on time increased massively from N$1,3 billion to N$2,3 billion in 2017, a sign that more people are drowning in debt than in the previous five years. “The increased in non-performing loans is attributed to a slowdown in the growth of the Namibian economy which put pressure on corporate and household income, particularly given the elevated levels of debt in 2017,” the annual report stated”. This article just confirmed some of the factors I mentioned that lead Namibia citizens in debt e.g economic crisis and pressure on corporate and household income. Currently, Financial Institute in Namibia are only giving assistance to clean financial record people, what about people in debt, who will help them? Currently there are no companies or organization helping people to get out of bad debt.

What other partners or stakeholders will work alongside you in implementing the idea, if any? (1,000 characters)

HAPIDO will be registered under BIPO the company that registers businesses on behalf of the Ministry of Trade, Industrialization and SME Development. Since HAPIDO is a financial entity, it will also be registered under Namibia Financial Institutions Supervisory Authority (NAMFISA), that is tasked with the responsibility of regulating and supervising non-banking financial institutions in Namibia. HAPIDO will also be a registered tax payer with the receiver of revenue and will be registered with the Social Commission as an employer. HAPIDO is descriptive of the organisation’s core values which are founded on three pillars of sustainability. The company will be established as a vehicle for the realization of her dream to be remembered as a Namibian business woman, legend of change by future generations and to be an inspiration to young women across the globe.

What part of the displacement journey is your solution addressing

  • Other

Tell us how you'd describe the type of innovation you are proposing

  • Service: A new or enhanced service that creates value for end beneficiaries

Idea Proposal Stage

  • Blueprint: We are exploring the idea and gathering the inspiration and information we need to test it with real users.

Group or Organization Name

Help A Person In Debt Organisation (HAPIDO)

Tell us more about your group or organization [or lived experience as a displaced person?] (1000 characters)

HAPIDO will strive to provide quality services and impose projected standards through monitoring and evaluation of performance and management systems. It will focus on a specific sector of the market and try to attain the best repute in relations to customer satisfaction, operational success and financial stability as a sustainable organisation. In the first six month Karolina will initially employ one experience Administrator who will also be a Debt Counsellor, then a Financial Manager who will also be an Evaluator. As the organisation is growing, or an urgent need is identified, more people will be employed.

Type of submitter

  • We are not yet a registered organization but plan to in future

Organization Headquarters: Country

Namibia

Organization Headquarters: City / State

Walvis Bay

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Team

Hi, welcome to the Challenge. We wish you success!