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Kayi Bank, a fintech, has debuted with an app to speed up financial inclusion. The new sector-player was inaugurated this week in Abuja by the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani.
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The minister described the new bank and its novel fintech solution fostered on blockchain technology as a revolutionary initiative to expand financial inclusion, create jobs and wealth in line with the policy-thrust of President Bola Tinubu.
While commending the promoters of Kayi led by Kano-based businessman, Alhaji Saadina Dantata and other investors from across Nigeria, The United Arab Emirates, (UAE), Saudi Arabia, and Turkey,among others, Tijani said Nigerians have continued to demonstrate entrepreneurship spirits and a rare spirit of excellence.
Kayi Bank and the Kayi app which serves as a payment platforms is focusing on granting credit support to farmers, active players in the health, education, and transport sectors among others.
“We are excited to introduce our innovative fintech product, Kayi App, to the Nigerian market. With our dedicated and young team of innovative and creative Nigerians drawn from across the world, we have worked tirelessly to develop a suite of fintech solutions that will make financial transactions simpler, faster, secure, and more convenient for everyone,” said Dantata to an audience comprising the Director General of the National Information Technology Development Agency, NITDA, Kashifu Inuwa Abdullahi; and Alhaji Mohammed Sani Abacha, the son of former head of state, Gen Sani Abacha.
“It is powered by Web3 technology, and we ensure stability and speed, targeted at changing the narratives of technology-driven payments platforms in Africa and across the world.
“We empower individuals and businesses across Africa, offering seamless transactions in traditional and cryptocurrency. Our mission includes serving the unbanked, the diaspora community, and urban professionals,” Danbatta added.
According to Kayi Bank Product Lead, Abdulganiyu Rufa’I, “with the vast majority of Africans unbanked and underbanked, we are confident in our ability to meet the growing demand for digital financial services across Africa.
“Having recognised unmet needs in the country’s payment digital industry, therefore, Kayi App is poised to showcase strength in delivering core services and solutions such as instant digital payments for individuals and businesses; financial inclusion and social banking for people in rural and semi-urban areas; blockchain-backed cross- border trade for exporters and importers across Africa; and remittances and investments for Nigerians and Africans in Diaspora.”
