Fursa, a mobile wallet for youth to access loans, has been launched by Telkom Kenya
Telkom Kenya has announced plans to launch Fursa, a youth-focused mobile money platform that will provide young Kenyans with financial opportunities.
The project is being carried out in collaboration with Kenya’s National Youth Council.
Telkom Kenya has agreed to collaborate with the National Youth Council of Kenya (NYCK) of the Ministry of ICT to develop ‘Fursa,’ a platform that will enable the council to disburse funds to youth in a more convenient, quicker, safer, and timely manner.
“More should be done to improve our youth’s financial inclusion.
More digitisation and investment in the mobile money environment would aid in the resolution of a crisis that has become even worsened as a result of the pandemic.
Telkom Kenya Chief Executive Officer Mugo Kibati said, “The Fursa e-wallet helps to solve this challenge.”
Telkom Kenya is looking to expand its financial services sector in order to meet the growing demand for quick and easy money transfers.
After the Central Bank adopted steps to promote the use of digital payments, mobile money transactions have increased dramatically in the last year.
Fursa will be customized to include additional features such as a membership management system, financial reconciliation, savings and investments, and a job matching and e-learning, as well as experiential ability creation, by an experienced board.
Telkom will install the Fursa wallet and provide support for its use, maintenance, and updates as part of the partnership.
Infrastructure, care facilities, tracking, efficiency, and availability will all be provided, as well as technical and product support services.
Source: Tech Gist