The Managing Director of Kayi Bank, Yunusa Mohammad has promised that the new financial institution would explore core features and capabilities of Kayi to reshape financial transactions, broaden accessibility and empower users to take charge of their financial destinies.
A secure and innovative pan-African Digital Payment Platform, today announced it has obtained necessary regulatory approvals to launch in Nigeria to accelerate access to financial inclusion by individuals and businesses in the country and beyond through secure, seamless and hassle-free transactions.
As an innovative fintech product, Kayi App was borne out of a vision to revolutionise the financial services landscape in Africa to fulfil the need for
accessible, secure and customer-centered financial services that cater to the unique needs of Nigerians and Africans at large.
“We will explore the core features and capabilities of the Kayi app, this mobile application will reshape financial transactions, broaden accessibility and empower users to take charge of their financial destinies.
“We are also unveiling the future where financial transactions are simplified, more accessible and empowering for all,” Mohammad said.
Also at the unveiling, the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, said that financial inclusion would aid in fast-tracking poverty eradication and creating access to financial growth of the country.
He said financial inclusion contributes significantly to economic growth by increasing the number of individuals and also businesses that can participate in the formal economy.
“As we all know Nigerians are extremely entrepreneurial and while they are entrepreneurial, there is also a significant amount of entrepreneurs that are not included in the formal economy.
“If these entrepreneurs are not included in the formal economy, we will struggle to actually be able to drive strong and inclusive economic growth to true financial inclusion.
”We can bring more people into the economy. And by bringing more people into our economy, we stand the chance to reduce poverty.
The Minister said entrepreneurship can be fostered by having a strong financial inclusion in society.
“When we have a strong financial inclusion in society, you can also foster intrapreneurship and there is no other way we can grow without entrepreneurship.
He said that the agricultural sector contributes significantly to Nigeria’s Gross Domestic Product (GDP), adding that good financial inclusion will ensure farmers have access to resources they need as input.
“They can manage income better, they can manage their sales better, but they also can access credits that can help them to do what they need to do.”
He urged investors to invest more as there was a lot of money to make from the bottom of the pyramid.
In his goodwill message, Malam Kashifu Inuwa, the Director-Generally of National Information Technology Development Agency (NITDA) said the initiative would help institutionalise investment in Nigeria’s startups.
“This will really help us and institutionalise investment in startups in Nigeria.
“Kayi is about job creation. It is about empowering our people to build the next digital bank,” he said.
READ ALSO FROM NIGERIAN TRIBUNE
and then