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Digital banking platform for workers across Africa, helping to improve financial health.

PROBLEM

Less than 20% of workers in Kenya and across Africa are financial healthy. Africa will have more individuals entering the workforce than the rest of the world combined by 2035. 75% of work is in the informal sector. However, young individuals are entering a new and connected world and will be waking up with affordable smartphones, 5G connectivity, digital platforms, and new ways of earning. With over 500M economically active individuals on the continent, Power is the solution for workers.

SOLUTION

Power delivers 4 key services.

1, Access to earnings at any time and 80% cheaper than the market.

2. Streamlined savings into savings and investment accounts every time workers get paid.

3. Longer term loans customized to the individual.

4. Digitized insurance, financed for workers and collected over 9 months.

Sector:

FinTech

Customer:

B2B2C

Founding year:

2019

Geography:

Kenya

Website:

Click here

TEAM

Brian Corey Dempsey – has spent the last 13 years leading strategy, innovation, digital for multinational Microfinance and banking groups across Africa. He helped to build a sell a Microfinance 10 years ago and then establish the digital function in a new bank and grow customers 10x and launch new solutions in 13 countries.

Chandramanshu Singh – Chandramanshu led the team of Tata Consultancy Services in Africa to transition banking systems and deliver omnichannel solutions to 11 countries.

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