Tuesday, Aug 3, 2021
HomeEconomyCorporateBritam inks deal with Koa to aid savings, investments for as little as Ksh.100

Britam inks deal with Koa to aid savings, investments for as little as Ksh.100

Britam inks deal with Koa to aid savings, investments for as little as Ksh.100

Britam has partnered with a Kenya-based fintech startup Koa, a deal that will enable Kenyans to start saving with as little as Ksh.100 through Britam’s Money Market Fund.

Koa’s Co-Founder and Chief Operations Officer Delila Kidanu, said Koa App is designed to offer Kenyans an easier way to put money aside towards their personalized savings goals.

“Once goals are set, Koa lets users know how much they need to save each day, week, and month to reach their goals. Through this partnership with Britam Asset Managers, Koa users can access low-risk and high-growth savings and investment opportunities. This will not only enable them to reach their goals faster but also create long-term financial resilience.” said Kidanu.

Kidanu also said that “the idea of formal savings is often perceived as intimidating, inconvenient and difficult to start for a lot of young Kenyans. Koa is the only digital savings companion that makes it easy to start saving instantly and remain committed through personalized savings goals. Our goal is to put Kenyans on a clear and visible path toward financial freedom.”

The Koa app makes it easy for customers to start their savings and investment journey with the Britam Money Market Fund in under two minutes.

The deal is the first of its kind in the market of a Digital Independent Financial Advisors (IFA) agreement – professionals who offer independent advice on financial matters to their clients and recommend suitable financial products.

Also Read:

  1. Mobile lenders ready for CBK regulations
  2. Digital lenders reject proposed regulation of digital loan costs
  3. Safaricom is mulling lowering rates on its mobile lending platforms

On his part, Britam Asset Managers’ Principal Officer, Jude Anyiko, said the partnership will expand the firm’s omnichannel strategy and deliver a superior customer experience.

“Britam Asset Managers is delighted to partner with Koa to rollout the country’s first digital IFA agreement. This partnership will enable Britam to deliver its digital savings and investment solutions in ways that are attractive, engaging, and intuitive allowing us to access new emerging markets,” said Anyiko.

Anyiko also said that the partnership “…is part of Britam Asset Managers’ broader initiative to develop innovative products that support savings and investment penetration in the region.”

Savings is Koa’s first step into the digital financial services foray and seeks to fill existing market gaps and be the go-to financial companion for the Kenyan youth.

Koa said it will prioritise building trust and delivering a great user experience for its high-interest savings while also leveraging other distribution channels to reach more customers.

Kenya, is KOA’s first market, with expansion plans to grow across the region.

Britam recently rolled out its 2021-25 Strategic Plan which seeks to enhance customer experience by becoming more customer-centric. As part of its new strategy, Britam is seeking to capitalize on its investments in technology to expand its customer base to drive growth.

FOLLOW US ON:
Kenyans living abroa
Safaricom launches M

Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

Rate This Article: