Telkom is currently working on the Fursa Wallet, specifically designed for young Kenyan people seeking digital payment options. The initiative came from a realization that young people are especially excluded in the finance world. Approximately 23 percent of Kenyan young adults are excluded from financial products and services.
To help aid this gap, Telkom Kenya and the National Youth Council of Kenya are working together to create 'Fursa,' a digital wallet for youth. Fursa is Swahili for 'opportunity,' and opportunity is the mission behind this new product. The Fursa platform will allow the National Youth Council of Kenya to disburse funds to young people efficiently and securely.
Fursa will be a membership-based system, where young members will be able to invest, save, access job opportunities, e-learning devices, and experiential skill development programs.
The Fursa wallet will be consistently updated and maintained to ensure ultimate safety and efficient access.
Youth-Focused Finance Initiatives
The New Digital 'Fursa' Wallet is Designed for Young People
Trend Themes
1. Youth Finance Solutions - Entrepreneurs can innovate on new digital payment options designed for the youth demography in Africa
2. Membership-based Payment Systems - Entrepreneurs can develop more inclusive payment platforms that cater to several members allowing them to save, invest and access opportunities.
3. Digital Wallets for Youth Development Initiatives - Startups can create useful digital services such as scholarship funding, grant disbursement and entrepreneurial incubation to enhance youth development initiatives.
Industry Implications
1. Finance & Payment Services - Innovative youth-focused payment solutions are new areas for growth in the financial and payment services industry.
2. Youth Development Programs - Development programs aimed at youths could benefit from membership-based payment solutions like Fursa to disburse funds more efficiently and secure.
3. E-learning & Skill Development Platforms - E-learning and skill development platforms can implement digital wallets for membership purposes and access to their available programs