December 15, 2021

Digital Space capital relaunches app for savings culture


By Cynthia Alo

In a bid to bring back the savings culture amongst Nigerians as well as play its role in financial inclusion, Digital Space Capital (DSC) has re-launched its DigiKolo app, a digital app aimed at nurturing and managing the wealth of Nigerians.

This is even as the digital firm said it is targeting about 80,000 downloads in the first quarter (Q1) of 2022 while adding that it is looking at playing its part in reducing the over 40 million unbanked population via massive awareness.

Speaking at the event recently in Lagos, the Chief Executive Officer, DSC, Olubukola Abitoye, explained that the re-launch of the DigiKolo app was borne out of concerning the state of the economy and the low savings culture among Nigerians and added that this has affected the gross domestic product (GDP) performance in recent times.

Abitoye noted personal finance is key to attaining wealth and with the world evolving into a digital world, it was apparent that DSC followed the narrative by bringing back the “Kolo” of the olden days albeit digitally.

She revealed that since its inception, the app has seen over 3,812 downloads and 80 per cent active users while adding the DSC team has made DigiKolo a flexible, seamless, user-friendly app.

She stated: “As a team, we had to look back at the drawing board and the drawing board made us better. We observed that many fintech users battle with the case of loss of passwords to their apps, we have made it easier than even the aged ones can use it without much difficulty in operating. Our facial recognition makes it a lot easier for Nigerians to use. I will say this app is user friendly, highly rewarding, seamless, robust and the best savings app in Nigeria at the moment.”

Also speaking on the partnership with DSC, the Senior Growth Executive, Flutterwave, Adejuwon Oyebanjo, said Flutterwave is excited about partnering with DSC and is ready to provide the necessary payment infrastructure which will facilitate transactions done by consumers of the app.

“Existing or prospective customers should be rest assured of their security of savings and we are looking forward to what this partnership will bring in the future”, Oyebanjo said.