- The App will bridge the gap between payday and needs that can't wait
- Employees can request for Salary advancies once need arises .
- Upon approval the advance can be withdrawn from the Zofi Cash App to the employees mobile wallet
A Ugandan innovator has launched ZoFi Cash App a digital financial platform that makes it easy for employees to access a salary advance whenever need arises.
According to the founder of ZoFi Cash App Paul Kirungi, often time people are faced with financial emergencies that cannot wait for pay day and whereas there is access to financial solutions, many come with high interest rates, cumbersome collateral demands and bureaucracy that results in long turnaround time.
If someone doesn’t qualify for a loan facility in the bank, atleast they should be able to have early access to wages they earned says paul
Speaking at the launch of this App, Kirungi said that ZoFi Cash App is fast and affordable digital financial solution that advances money to salaries employees before pay day, thus enabling them to take care of financial emergencies when they need to.
The Board Chairman of Zofi Cash Ltd Hannington Ssegirinya said that they are on the journey to change the landscape of financial inclusion because they believe it is doable and it’s the best path to economic development for the nation.
He notes the future is a cashless society offering a great deal of benefits from health point of view, economic point of view, efficiency point of view and more this put Zofi cash among Uganda’s and Africa fintech platforms for future geared towards building a more inclusive financial system that is responsive to the needs of people.