Ecobank Kenya, a subsidiary of the pan-African banking Group Ecobank, has launched a new app called Fingo Africa in collaboration with Kenyan fintech company Fingo. The app is designed to revolutionize financial inclusion for young people in Kenya and across Africa. Accessing financial services has been a challenge for many young people on the continent, as opening a bank account can be a lengthy process that requires multiple face-to-face interactions and physical paper documents. Additionally, there are often steep fees associated with sending money to friends, loved ones, or businesses and keeping an account active.
With the Fingo Africa app, users can open a fully-fledged current account in less than four minutes using their mobile phone. They can send money to fellow Fingo users for free, as well as to M-Pesa users, and pay bills via Paybills and Till numbers at subsidized rates. The app aims to empower Africa’s youth by making it easier for them to access financial services, and users get rewarded for using the app for their day-to-day transactions.
Fingo Africa app users can save money easily for set goals and create recurring transfers to help create a frictionless savings habit. Additionally, they can easily create and send payment links with full payment details to ease receiving payments from those who owe them. The app is currently available in Kenya and will be rolled out across Ecobank’s entire 33-country sub-Saharan African footprint in the future.
Ecobank Group CEO Jeremy Awori said that the app is a game-changer in digital finance in Africa and is aligned with the group’s mission to drive financial inclusion across the continent.
Fingo Africa CEO and Co-Founder Kiiru Muhoya stated that the app would accelerate financial inclusion for Kenya’s youth and empower them by using their mobile phones.
Josephine Anan-Ankomah, Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern and Southern Africa, emphasized the importance of providing user-friendly products to the young population, which she described as a key pillar for any business.
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