Fingo Africa rolled out its pan Africa digital banking services targeting the emerging Generation Z and post-millennials in Africa.
The services were rolled out first in Kenya’s capital, Nairobi on Thursday, May 4 as the start-up eyes other African markets in the near future.
Kenya’s President William Ruto while presiding over the launch, said he wants to make East Africa’s largest economy an ICT innovation hub by unlocking the digital economy potential.
“The digital transformation agenda is real, feasible and anchored on a robust institutional framework,” stated Ruto.
Fingo Africa is working with Ecobank, a Pan-Africa digital only bank service, with a strong presence in Kenya.
The Fingo Africa application will become Africa’s first youth-centred and purely digital bank.
Ecobank, a banking institution with pan-African footprints, has set out to leverage digital fintech and diversify its product offering, in a bid to win a young generation of digital clientele.
Kenyan President hailed Fingo Africa’s founders for their innovative ideas and promised them his Administration’s full support.
“I join other well-wishers in congratulating the founders of Fingo Africa on your fine accomplishment.
I also welcome your entry into the Kenyan fintech market and wish you great success in exceeding the expectations of millions of youthful customers.”
Kenya is among the leading ICT-oriented states on the continent with a number of shaped policies for startups like Fingo Africa to thrive.
The country already has robust measures to ensure successful implementation of the digital economy.
This includes key achieved milestones through parliamentary Acts such as the National ICT Policy, the Kenya Start-Up Act, Data Protection Act, Digital Economy Blueprint and the Computer Misuse and Cybercrimes Act and the Konza Technopolis project as the areas of focus.
Fingo is a digital bank built for young Africans, by young Africans with a founding team of 20 who are born and raised on the continent. The company was founded by the Kenyan-born Kiiru Muhoya.