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A revolutionary digital banking app known as KayiApp launched in the heart of the federal capital territory (FCT), Abuja on Thursday to open doors to global financial markets and seamless cross-border payments.
TheNewsGuru.com (TNG) reports the revolutionary KayiApp, promoted by Alhaji Saadna Dantata, is said to pioneer blockchain technology adoption in the African microfinance sector.
The KayiApp was launched by the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, alongside the Director General of the National Information Technology Development Agency (NITDA), Mr Kashifu Inuwa.
KayiApp, a digital bank at the forefront of finance in the era of Internet 2.5-based banking, aims to deliver cutting-edge financial solutions, and empower individuals and businesses.
“We are excited to introduce our innovative fintech product, Kayi App, to the Nigerian market.
“With our dedicated and young team of innovative and creative Nigerians drawn from across the world, we have worked tirelessly to develop a suite of fintech solutions that will make financial transactions simpler, faster, secure and more convenient for everyone,” Dantata said during the launch.
Speaking further, Dantata said “The Kayi App aims to empower Africans with the tools and knowledge to take control of their financial future. I envision a continent where every individual and business can thrive financially, regardless of their location or income level”.
He expressed gratitude to Dr Tijani and the Director General of the NITDA, who were present at the Kayi App launch.
Speaking on the market opportunity that informed Kayi App introduction, its Product lead, Abdulganiyu Rufa’i said the African fintech market is brimming with opportunities and that Kayi App is poised to make a significant impact.
“With the vast majority of Africans unbanked and underbanked, we are confident in our ability to meet the growing demand for digital financial services across Africa.
“Having recognised unmet needs in the country’s payment digital industry, therefore, Kayi App is poised to showcase strength in delivering core services and solutions such as instant digital payments for individuals and businesses; financial inclusion and social banking for people in rural and semi-urban areas; blockchain-backed cross border trade for exporters and importers across Africa; and remittances and investments for Nigerians and Africans in Diaspora,” Rufa’i said.
Meanwhile, speaking on the key factors that stand the Kayi App out in the mobile payments sector, the technology team of the Kayi App headed by Chukwunonimem Ike, said:
“What truly distinguishes the Kayi App is our unwavering commitment to relentless innovation and a customer-centric approach that places YOU at the forefront. We recognize the distinctive challenges faced by individuals across Africa, and it’s precisely these challenges that have inspired us to craft solutions that confront them head on.
“Our user-friendly super app, cutting-edge security features, field support staff in every ward in Nigeria and 24/7 customer support are just a few examples of how we’re putting our customers first.
“Even when there is need for customers to communicate with the Kayi team, all you need is dial our toll-free number 0800-000-KAYI, which is 0800-000-5294, and our customer satisfaction team will answer instantly, in your preferred language”.
Financial inclusion will eradicate poverty, bolster growth in Nigeria
In his remarks during the launch of the Kayi App, the Minister of Communications, Innovation and Digital Economy, said financial inclusion would eradicate poverty and improve access to financial growth of the country.
Tijani stressed that financial inclusion contributes significantly to economic growth by increasing the number of individuals and 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,” he said.
The minister said that entrepreneurship can be fostered by having a strong financial inclusion in the society.
He added: “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.”
Tijani said that the agric 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 inputs.
The minister said: “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.