Telkom Kenya has announced that it will develop a youth-focused digital wallet to relieve them from financial exclusion during the pandemic.
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) 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.
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.
“More can be done to advance the financial inclusion of our youth. Further digitisation and investment in the mobile money ecosystem will help solve a crisis that has been further exacerbated during the pandemic. The Fursa e-wallet helps to address this challenge,” said Mr. KIBATI.
“Far from development of joint programmes and incentivizing youth to take up technology and youth entrepreneurship, employment and engagement programs, Fursais a huge opportunity to support the government’s nationwide efforts to provide a financial and safety net in the unraveling pandemic,” said Mr. TELEWA.
