New online platform encourages people to save
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Many people have good intentions to put money aside for savings, but find it difficult to achieve their goals on a day-to-day basis. This is especially true in countries like Nigeria, where many people do not have access to credit, and where most payments are made in cash. A Nigerian fintech start-up has now developed a plan to help these people grow their savings. The company, Piggybank, has developed an online platform that forces people to save. Savers using Piggybank chose an amount to deposit each day into their online account, and set a withdrawal date. They cannot withdraw their…
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