The fintech will support Baobab in expanding its financial inclusion services to over 800,000 customers across nine countries in Africa through an integrated savings platform. HelloGold is a fintech savings platform, founded in 2015 in Malaysia, that features blockchain technology.
HelloGold’s gold backed savings and loan financial products will be integrated with Baobab’s mobile phone app, to be launched in 2019. Users will be able to buy, save and invest in gold, directly on the integrated mobile application, allowing instant access to gold as an alternative savings product.
Baobab operates 1140 service points in Africa and has disbursed more than EUR 940 million in loans to the underbanked and unbanked (including micro entrepreneurs, youth and women), according to the official press release. The company provides a wide range of digital and mobile solutions for customers in Africa and China.
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