Browsing: Savings culture

Kenya: Firms competing to boost digital savings, investments

Kenya

Cashlet has been developed by Sycamore Capital Ltd, and it works in partnership with regulated fund managers in Kenya, to allow users to invest in unit trust products in simple, fully digital, and modern way.

The initial partner fund managers include ICEA Lion Asset Management, Old Mutual, and Genghis Capital.

The app seeks to pioneer saving and investing flexibility, life goals creation and tracking, market interest rates, financial visibility, and expert support.…

A platform to make saving easy

Banking

Patrick Awori is the Chief Executive Officer of Circle, an innovative platform connecting those looking to save in emerging markets to banks. The idea behind it is to make it easy for people to save either as a group or individually, all with the security of the backing of a financial institution, especially in the case of the underbanked. Mr. Awori spoke to Kawira Mutisya of The Exchange, and what plans he has for the firm in the coming years.  

Also Read: Why the pandemic made digitization in Africa a recipe for success? 

When did you come up with the idea of creating a group saving platform?  

The activity of group saving and table banking was already commonplace in many under-banked rural and semi-urban African societies for some time, as an alternative to formal banking services, which were inaccessible.  

However there were some challenges associated with

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