The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani on Thursday launched Kayi Bank, an online payment App, to drive financial inclusion and access to funds by the unbanked in Nigeria and Africa.
Speaking at the launch of the App in Abuja, the Minister expressed delight that it would add some impetus to the commitment of the administration of President Bola Tinubu to promote financial inclusion and create jobs and wealth through technology Innovations.
Tijani described Nigerians as extremely endowed with entrepreneurship spirits, stressing that the launch of Kayi Bank and the payment platforms would grant access to credits for farmers, health and education sectors entrepreneurs, and those in the transport businesses.
He praised the founder of the bank for the resolution to accommodate Keke Napep and Taxi drivers in the country with products that enable them to buy fuel at some designated filling stations and make payments the next day as part of measures to cushion the impact of subsidy removal in the transport sector.
Also speaking, founder of the bank, a Kano-based businessman, Alhaji Saadina Dantata with investors from across Nigeria, The United Arab Emirates, (UAE), Saudi Arabia, Turkey, among others, said Kayi App is a pioneering fintech solution committed to security, speed, and customer satisfaction.
Dantata added: “We empower individuals and businesses across Africa, offering seamless transactions in traditional and cryptocurrency. Our mission includes serving the unbanked, the diaspora community, and urban professionals.
“It is powered by Web3 technology, and we ensure stability and speed, targeted at changing the narratives of technology-driven payments platforms in Africa and across the world.
“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.”
Speaking on market opportunity that informed Kayi Apps 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 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,” says Rufa’i.
Speaking on the key factors that stand 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,” Ike said.
“Even when there is need for customers to communicate with 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.”