ICT

ICT Firm to Leverage FinTech to Reach 10m Unbanked Kenyans

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Kenyan ICT firm Tangazoletu Limited has marked its tenth anniversary with a commitment to collaborate with partners such as Safaricom, banks, saccos and microfinance institutions to reach the unbanked population in the country’s informal sector through financial technology (FinTech)solutions.

Tangazoletu was founded by Chris Gathingu, then a university student, at a local Kenyan institution. The company is behind the development of Lipa na M-Pesa mobile payment solution; SpotCash, an innovative product that allows sacco members to withdraw and deposit money into their savings account by SMS; and a ground-breaking solution for managing Tuberculosis in Kenya, MTIBU.

“Our solutions have already reached over five million Kenyans in the last ten years. In our next phase of growth and partnerships, we target to reach another ten million Kenyans and bring them to financial inclusion with our solutions,” Tangazoletu CEO Chris Gathingu said.

The company is also looking to expanding to other African countries and deepening its social responsibility programs to regional causes.

NIC Bank CEO John Gachora encouraged banks in the region to view FinTech companies such as Tangazoletu as partners and not threats adding, “They should be viewed as innovation partners that will enhance their business models.”

Bob Collymore, CEO, Safaricom committed to continued partnership with local technology partners to innovate solutions that transform lives of Kenyans and deepen financial inclusion.

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