Kenyan startup Fingo has partnered Ecobank to launch a new app aimed at powering financial inclusion across Africa.
Fingo, which took part in Y Combinator in 2021, empowers Africa’s youth by enabling them to open a bank account via their mobile phone in less than four minutes, send money to other Fingo users for free, and to M-Pesa users and paybills via Paybills and Till numbers at subsidised rates.
Users therefore get instantly rewarded whenever they use the app for their day-to-day transactions. Opening the Fingo digital account is free, safe and easy, and attracts no minimum balance and no monthly fees.
The app has initially been launched in Kenya but will shortly be rolled out across Ecobank’s pan-African footprint.
“We are delighted that our Fingo Africa app will accelerate financial inclusion for Kenya’s youth and empower them just by using their mobile phones. We are looking forward to rolling-out the app’s availability throughout Ecobank’s 33-country footprint, which will deliver on our vision of empowering Africa’s youth to create wealth in a way that is simple, fun and educative,” said Kiiru Muhoya, CEO and co-founder of Fingo.
Jeremy Awori, CEO of Ecobank Group, described Fingo as a “game-changer in digital finance in Africa”, that brings many young people into the mainstream financial sector and caters to their needs and preferences.
“By simplifying access to finance, it overcomes the entrenched issues that have often acted as barriers to entry for young Africans. I want to thank our partner, Fingo, for driving such innovation that is aligned with one of our core missions to drive financial inclusion across the continent,” he said.