Read more about FinTech
The app is deemed to help Nigerians earn better returns on their savings and investment. For the past 10 years, Nigeria has been averaging a 12% inflation rate while economic growth has levelled at a meagre 2.2%. Savyt’s answer to this economic problem is using technology to temper economic indices by bringing well-paying investment opportunities within reach of average users.
Sign up to the Connect Nigeria daily newsletter
Savyt has four financial plans namely: Target Savings, Maintain, Accelerate, and Elevate. In an economy where inflation is eating up the interest income of savers, subscribers of Savyt are promised an opportunity to earn up to 15% per annum on whatever their investment is. Furthermore, Savyt has begun operations by setting an ambitious target of reaching out to 100 million customers within Nigeria. Muyiwa Babarinde, Savyt’s Head of Growth & Marketing, however, noted that the Nigerian FinTech ecosystem has witnessed a lot of innovation in the recent past but maintained that there is still a lot of room for opportunities in that domain. Also, Savyt is available via a web app currently. The designers of the fintech solution promise that users can kickstart a secure and profitable financial journey by setting up an account and creating a savings or investment plan. Featured Image Source: Benjamin Dada
Got a suggestion? Contact us: editor@connectnigeria.com
You might also like:
- Ultima Cards: Virtual Dollar Visa Cards Now Available to All Residents Across Africa
- Four Years Later: How Paystack Has Thrived Under Stripe
- The UNDP Timbuktoo FinTech Startup Accelerator Program
- Central Bank of Nigeria (CBN) Lifts Ban on Opay, Kuda, and Others
