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Telkom partners with the National Youth Council to develop a youth-focused digital wallet
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Telkom Kenya has announced plans to develop a youth-focused digital wallet in a bid to relieve them from financial exclusion during the pandemic. To realize this plan, the telco has signed an agreement with the Ministry of ICT’s National Youth Council of Kenya (NYCK) to co-create
Fursa, (Swahili for opportunity).
Fursa is a platform that allows the council to disburse funds to youth conveniently, faster, securely and timely. This solution will increase the youth’s resilience in the midst of physical and infrastructural barriers that obstruct their access to financial services and products.
Known as
‘Fursa’, (Swahili for opportunity) the platform will allow the council to disburse funds to youth conveniently, faster, securely and timely. This solution will increase the youth’s resilience in the midst of physical and infrastructural barriers that obstruct their access to financial services and products.
The Financial Sector Deepening (FSD) Kenya estimates that 23% of the 18-25 year-olds are excluded from financial services and products and that financial services providers have no solutions targeted at youth.
Fursa will be customised to contain additional capabilities: a membership management system, financial reconciliation, savings and investments, experience board for job matching and e-learning as well as experiential skill development.