CreditAssist Launches Savings And Investment Mobile App

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of...

You Should Totally Avoid These Words During An Interview

The job market is very competitive and getting an interview is a chance to let an employer or HR...
- Advertisement -
- Advertisement -

Savings and investment firm, CreditAssist has launched savings and investment mobile application called “Kolomoni” to help people especially small and medium entrepreneurs as well as those living in rural areas to have access to credit facilities.

This is being done just as the firm (Credit Assist Investment Limited) operated by some young entrepreneurs has also introduced a standard mobile application, KolomMoni, which will afford subscribers to save a

CreditAssist Launches Savings And Investment Mobile App

The application according to the Executive Director of CreditAsset, Mr John Alamu was designed to use modern technology in order to encourage savings and investment among Nigerians.

Alamu while speaking at the launch of the application held in Ibadan, the Oyo state capital on Friday, added that the firm believes that the application, KoloMoni will tend to reshape the savings pattern of every Nigerians towards achieving their set goals through personal savings and reduce dependence on excessive borrowing.

He added that the firm is a money lending organization licensed by the Oyo state government and an affiliate of the association of non-bank microfinance institutions in Nigeria.

Read:  Key insights into the Global Beef Market 2019

Alamu said, “CreditAssit Investment Limited is delighted to announce the launch of KokoMoni, a standard secured web and mobile application using modern and convenient technology to encourage savings and investment in order to foster savings culture among Nigerians and set users on the road to financial freedom.

“CreditAssist believes that KoloMoni will reshape the savings pattern of every Nigerian towards achieving their set goals through personal savings and also to reduce dependence on excessive borrowing.

KokoMoni is an innovative and modernized version of the traditional “kolo (aka Piggybank)” and can be thought of as a digitized kolo for saving money.

Read:  Budweiser announces multi-year global partnerships with the Premier League and LaLiga

“I am confident that KokoMoni is a major way to reduce over-confidence on loans, which often leads to financial disequilibrium. With a wide array of savings plans available in KokoMoni, our customers will always have more money at their disposal to finance their set goals without sourcing for loans.

Achieving financial freedom for our customers without deliberating loans was the driving force behind the development of KokoMoni.

Read:  SEC, NSE Streamline Listing Process to Encourage More Listings

“KokoMoni is designed for every Nigerian that has access to a smartphone and enables them to save periodically (daily, weekly or monthly). KokoMoni also has a large number of benefits for users.

Savings on KokoMoni can attract interest rates as high as 15 per cent interest per annum. In addition, these savings are insured by the Nigerian Securities and Exchange Commission through Meristem Trustees.

“The app also provides a cash reward for every new valid user referred by existing customers. KokoMoni is available for download on the Google Play Store for Android users and Apple store for iPhone users.

“CreditAssist Investment Limited is a money lending organization licensed by the Oyo state government and an affiliate of the association of non-bank microfinance institutions in Nigeria (ANMFIN).”

Kokomoni ambassador, Rita Balogun while speaking said that the application was designed in order to provide financial assistance to people in the rural areas.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Nigeria Customs Service receives N5.34billion from FAAC in September 2019

The Federation Account Allocation Committee (FAAC) disbursed the sum of N740.87bn to the three tiers of government in September...

Why Mathematics Is Critical To Economic Development

Mathematics education is the very foundation of society and the pillar of science and technology without which a nation can never become prosperous and...

Azura Power Invests In Tobene Power In Senegal, Brings Together Actis, Azura’s Majority Shareholder, With Africa50

The 115MW Tobene Power plant in Senegal, which was part of the Melec Power Gen (“MPG”) portfolio now forms part of Azura Power’s pan-African...

OPPO Mobile, Toke Makinwa Partner to Launch Reno2 Series Smartphones in Nigeria (Photos)

To unveil the high-end Reno2 Series, OPPO Mobile Nigeria recently announced a brand partnership with Nigeria’s leading fashion and style entrepreneur, media personality and...

More Articles Like This