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Fingo Africa App to Revolutionize Financial Inclusion Across Africa

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Ecobank Kenya, in partnership with Kenyan Fintech company Fingo Africa, has launched the Fingo Africa app to facilitate financial inclusion for young people in Kenya and across Africa. The app is set to overcome the challenges young people face in accessing financial services on the continent.

Often, opening a bank account can take days to weeks and requires multiple face-to-face interactions and submission of physical documents, which poses a major challenge for many young people. The Fingo Africa app aims to empower African youth by enabling them to open a fully-fledged bank account in under four minutes via their mobile phones. In addition, users can send money to other Fingo users for free and to M-Pesa users at subsidized rates.

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The Fingo Africa app aims to address the issues that often act as barriers to entry for young Africans. These barriers include steep fees when sending money to loved ones, businesses, or friends, as well as other charges for maintaining an account. The app allows users to easily pay their bills, make utility payments, buy airtime, and save money for set goals. It also encourages a frictionless savings habit by enabling users to set recurring transfers to the set goals.

The Fingo Africa app was developed to cater to the needs and preferences of African youth by simplifying access to finance. The app also rewards users for using it for their day-to-day transactions. Opening a digital Fingo account is free and attracts no minimum balance or monthly fees. The Fingo Africa app is currently available in Kenya, and Ecobank plans to roll it out across its entire 33-country sub-Saharan African footprint.

The average age in Africa is 19, and it is predicted that by 2030, young Africans will make up 42% of the global youth. Therefore, the youth are a crucial pillar for any business, and Ecobank is committed to providing user-friendly products that appeal to this segment. The Fingo Africa app seeks to deepen financial inclusivity among the youth in Kenya and beyond.

For the most part, the Fingo Africa app is set to revolutionize financial inclusion across Africa, enabling African youth to create wealth in a simple, fun, and educative way. The app aligns with Ecobank’s core mission to drive financial inclusion across the continent.

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