By Allan Brian Ssenyonga
- The App is available on both Google and Apple app stores or via https://www.zoficash.com/app-downloads
- Employees can request for not more than 50% of their salary any time of the month, week or day
- As soon as your employer has approved, the money can be withdrawn from the Zofi Cash App onto you mobile wallet
Yesterday, a local FinTech company launched a digital financial application that seeks to simplify the process employees go through to access a salary advance. The Zofi Cash App, which is available on both Google Play Store and Apple Store, allows employees to request not more than 50 percent of their wages and receive the money as soon as their employer approves the request by clicking on their phone.
This cuts out a lot of the usual bureaucracy with applying and getting a salary advance and helps employees sort out financial emergencies that cannot wait for a payday, usually at the end of the month. According to the founder of ZoFi Cash App, Paul Kirungi, in many parts of the world, workers can access their wages at different times or even soon after they finish a day’s work while here many have to wait for the end of the month. “If someone doesn’t qualify for a loan facility in the bank, at least they should be able to have early access to wages they have earned,” he said.
Speaking at the launch at Golden Tulip Canaan Kampala, the Board Chairman of Zofi Cash Ltd, Hannington Segirinya, assured the public that they have embarked on a journey to change the financial inclusion landscape an App that is a great relief to the employer and employee. “At Zofi, we have a variety of products that we will be unveiling shortly, and these include but are not limited to Payroll Management, Unemployment benefits and many more,” he added.
While commending the Zofi Cash team for the achievement, CK Japheth, the co-founder of The Innovation Village, said, “The future is a cashless society offering plenty of benefits from a health point of view, economic point of view, efficiency point of view, and this puts Zofi Cash among Uganda and Africa’s FinTech platforms for the future.”
“To all other entrepreneurs out there, your efforts to fix gaps within our economy and the African innovation eco-system will be rewarded by time and the spirit of not giving up,” he added.