Koa, a Kenyan fintech startup, has partnered with Britam Asset Managers to offer customers access to low risk investment opportunities. The partnership is the first of its kind in the market of a digital Independent Financial Advisors (IFA) agreement.
IFA professionals offer independent advice on financial matters to their clients and recommend suitable financial products.
The Koa app is expected to ease customers’ savings and investment journey with the Britam Money Market Fund in under 2 minutes. Under the partnership, Koa users can start saving with as little as Ksh. 100 and watch their money grow with Britam’s Money Market Fund.
Commenting on the partnership, Britam Asset Managers’ Principal Officer, Jude Anyiko, said the partnership will expand the firm’s strategy and deliver a superior customer experience. “Britam Asset Managers is delighted to partner with Koa to rollout the country’s first digital IFA agreement. This partnership will enable Britam deliver its digital savings and investment solutions in ways that are attractive, engaging, and intuitive allowing us to access new emerging markets,” said Anyiko.
Koa’s Co-Founder and COO Delila Kidanu, said that the Koa App is designed to offer Kenyans an easier way to put money aside towards their personalized savings goals. She added that the app will also encourage more people to gain control of their finances and offer a higher interest rate as compared to other savings products in the market.
“Once goals are set, Koa lets users know how much they need to save each day, week, and month to reach their goals. Through this partnership with Britam Asset Managers, Koa users can access low-risk and high growth savings and investment opportunities. This will not only enable them to reach their goals faster, but also create long-term financial resilience,” said Kidanu.
Savings is Koa’s first step into the digital financial services space. Through partnerships and financial literacy programs, Koa is looking to fill existing market gaps and be the go-to financial companion for the Kenyan youth.
As part of its new strategy, Britam is seeking to capitalize on its investments in technology to expand its customer base to drive growth.
“Backed by investment in a robust IT system, Britam is today well placed to accelerate its digital programs to ensure customers continue to access our products and services in a seamless manner. By creating a technology led strategy that prioritizes customer demands and overall customer experience, Britam has been able to provide innovative solutions through seeking digital partnerships”, Anyiko explained.