Thursday, August 11, 2022
Thursday, August 11, 2022
Home Startups Nigeria’s fintech platform ImaliPay launching in Kenya to help users save & borrow

Nigeria’s fintech platform ImaliPay launching in Kenya to help users save & borrow

by Sam Wakoba
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ImaliPay, a Nigerian big data and AI-driven digital platform offering tailored financial products is set to launch in Kenya to give gig economy platforms and freelancers the ability to save, borrow, and track their earnings.

ImaliPay is working with Lynk to launch in Kenya and other partners in South Africa by the end of the year then expand to Uganda and Ghana next year.

Co-founded by two fintech industry professionals and former Cellulant management members, Tatenda Furusa, a Zimbabwean and Sanmi Akinmusire, a Nigerian, the two formally teamed up in 2020 to launch ImaliPay in Nigeria and signed up Safeboda as its first big customer.

ImaliPay wants to join international platforms focused on the gig economy largely in Latam, India, US and UK including Lana, Karmalife, Oxygen Bank and Portify.

In Africa, millions of individuals particularly Generation Z may never see a formal workspace in their lifetime as the gig economy, or on-demand or work takes over. ImaliPay aims to build an ecosystem for African gig workers to be able to access fair and transparent financial services and tools that enable them to work, earn and live productively in what is a volatile sector due to fragmented daily and weekly payment cycles.

These millions of African gig workers who are entering the new economy are often underserved and neglected by existing financial institutions in terms of savings, credit, and credit-building tools. 

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