There is more innovation on the digital financing space and Old Mutual Malawi has announced of a landmark Phuka Digital Savings in partnership with Airtel Money.
The innovation provides an opportunity for customers to save money using their mobile phones.
Old Mutual (Malawi) Limited, Mark Makwamba Manager for Old Mutual Investments Group stated that Phuka Digital Savings said the platform is cruciual as it will ensure that people access money at any time.
“One of the standout features of Phuka Digital Savings is its affordability, enabling customers to invest a minimum of MK5,000. Users can set savings goals, aligning their financial objectives with personalized targets. With attractive interest rates, Phuka will provide an appealing option for individuals seeking to grow their savings with ease.
The channel will be accessible via USSD code *211#, accessible on Airtel numbers, then selecting option 5 financial services, thereafter option 2 Phuka where customers will follow a step-by-step prompt to register as a Phuka client”
According to Airtel Money acting Managing Director Virginia Jere, the platform has been tailored to offer Airtel Money customers more benefits as it will increase their financial income through earning more than what they could have if they kept the same money in cash.
“Our robust Airtel Money network of over 4.5 million customers, 1,300 branches and 118,000 agents offer a great opportunity for investment institutions such as Old Mutual to expand their reach with products such as Phuka that are created with the customer’s future investment prospects in mind,” she explained.