A fintech and money lending company, CreditAssist Investment Limited has launched a standard secured web and mobile application to encourage savings and investment, KoloMoni, on Friday in Ibadan, the state capital.
KoloMoni is an innovative and modernized version of the traditional “Kolo” known as Piggy bank which can also be equated to a digitized “Kolo” for saving money. It is designed for every Nigerian that has access to a smartphone and enables them to save periodically.
While speaking, the Executive Director of CreditAssist, John Alamu said the driving force behind KoloMoni is to achieve financial freedom of their customers without debilitating loans.
“I’m confident that KoloMoni is a major way to reduce the over-dependence on loans, which often leads to financial disequilibrium. With a wide array of Savings Plans on KoloMoni, our customers will always have more money at their disposal to finance their set goals without sourcing for loans” he said.
Also speaking Rita Balogun, Head of KoloMoni enumerated the benefits of kolomoni to users.
She said “Savings on Kolomoni can attract interest rates as high as 15% interest per annum. In addition, these savings are insured for by the Nigerian Securities and Exchange Commissions through Meristem Trustees.
“The application also provides a cash reward for every new valid user referred by assisting customers. It is available for download on Google PlayStore for Android users or Apple Store for iPhone users. Users can also visit www.kolomoni.ng to get more details and sign up for the service.”
