By Daniel Tyokua
The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, yesterday in Abuja unveiled Kayi Bank, an online payment App, to fast track financial inclusion and access to funds by the unbanked circle of the country.
Kayi Bank and App are Innovative Fintech payment platforms floated by a Kano-based businessman, Alhaji Saadina Dantata with investors from across Nigeria, The United Arab Emirates, (UAE), Saudi Arabia, Turkey, among others.
The product which was unveiled in Abuja, attracted dignitaries from all walks of life, including Chairman Azman Group, Alhaji Abdulmunat Y Sarina, Otunba Toye Ariyo and Alhaji Mohammed Sani Abacha, the son of former head of state, Gen Sani Abacha, and the Director General of the National Information Technology Development Agency, NITDA, Kashifu Inuwa Abdullahi.
The founder, Dantata, said the Kayi App is a pioneering fintech solution committed to security, speed, and customer satisfaction.
Dantata added: “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.
“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 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.”
While inaugurating the new product, the Minister expressed delight that it would add some impetus to the commitment of the administration of President Bola Tinubu to promote financial inclusion and create jobs and wealth through technology Innovations.
Tijani described Nigerians as extremely endowed with entrepreneurship spirits, stressing that the launch of Kayi Bank and the payment platforms would grant access to credits for farmers, health and education sectors entrepreneurs, and those in the transport businesses.
He praised the founder of the bank for the resolution to accommodate Keke Napep and Taxi drivers in the country with products that enable them to buy fuel at some designated filling stations and make payments the next day as part of measures to cushion the impact of subsidy removal in the transport sector.
Speaking on opportunities in the market, Kayi Bank Product Lead, Abdulganiyu Rufa’i said the African fintech market is brimming with opportunities and that Kayi App is poised to make a significant impact.
Rufa’i said: “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.”
