Telkom Kenya has announced that it plans to create a youth-focused mobile money platform known as Fursa that will open up financial opportunities for young Kenyans. The initiative is in partnership with the National Youth Council of Kenya.
According to the telecommunications company, the platform will have additional features such as; a membership management system, financial reconciliation, savings and investments, e-learning, and an experience board for finding jobs.
Fursa will enable the National Youth Council to disburse funds to young Kenyans in a fast, convenient, and safe manner.
“More can be done to advance the financial inclusion of our youth. Further digitisation and investment in the mobile money ecosystem will help solve a crisis that has been further exacerbated during the pandemic. The Fursa e-wallet helps to address this challenge,” said Mugo Kibati, Telkom Kenya Chief Executive Officer.
Telkom Kenya is seeking to improve its financial services business and meet the increased demand for fast and convenient money transfer services. In the last 12 months, mobile money transactions have grown drastically after the Central Bank introduced measures to encourage the use of digital payments.