By Christopher Chisi
The Telecom Financial Technology company MTN Zambia, Barclay Zambia and JUMO has unveiled a unique, short term mobile saving product called KASAKA.
The interest bearing saving account is available to MTN mobile money customers by Barclays Zambia via JUMO platform and aims at widening the provision of financial services products.
Over 10,000 Zambians have saved more than 1,600,000 Kwacha since March 2019.
Speaking during the launch in last night MTN Mobile Money General Manager Edmund Barwuah has said the saving product provides the opportunity for the unsaved and underserved segments of the Zambia market to access a real time saving products.
He indicated that the partnership between banks and Fintechs are fundamental in the development of relevant financial products with financial inclusion mind.
“We believe that with close to two million active MTN Mobile money customers and 30,000 agents, Kasaka will become an important avenue for subscribers to harness the benefits of saving,” He explained.
Speaking at the same event Barclays Retail Banking Director Harton Maliki noted that the strategic partnerships paired with the adoption and implementation of the new technologies will drive financial inclusion.
And James Townsend Rose, Director of strategic partnership Africa at JUMO said they will use technology to build and run financial inclusion.