Zofi Cash launches the Salary Advance application – Techjaja

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Zofi Cash is a new digital financial platform that advances money to employees, enabling them to deal with financial emergencies that cannot wait for payday.

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The app aims to close the gap between salary and needs that can’t wait as the company partners with employees who will be able to request salary advances once the need arises. After approval, the advance can be withdrawn from the Zofi Cash app to the employee’s mobile wallet.

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The money is paid at the end of the month with a 3% fee based on the days the employee requests the advance before payday

According to Paul Kirungi, Founder and CEO of Zofi Cash, “All over the world, the key driver of personal development and growth is financial inclusion. However, the question we have ignored for decades is what kind of financial inclusion we need. “” The type of inclusive finance we focus on at Zofi Cash is earned income / salary. If someone doesn’t qualify for a loan facility at the bank, they should at least have early access to the wages they’ve earned. Our only goal is to make every day a payday. he added.

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Speaking at the launch, Board Chairman Mr. Segirinya Hannington said, “Zofi Cash is changing the landscape for financial inclusion because it is the best path to development. economic for our people and the nation ”.
According to CK Japheth, founder of the Village of Innovation, “Zofi Cash is a solution for everyone because it addresses technologically advanced gaps to make financial processes more efficient by disrupting traditional methods of establishing long-term solutions that meet needs. financial individuals in all economic conditions. . Today’s milestone places Zofi Cash among the best fintech platforms in Africa for the future, geared towards building a financial system that is more inclusive and responsive to people’s needs.

The app has been deployed in Uganda with the aim of starting operations in Kenya, Tanzania, Rwanda and Ghana by December 1, 2021. The app is available on Apple Store and Google Playstore.

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