Tanzanian finTech startup, Mipango, launched AI-based personal finance app to provide users with free financial advice
The app which is now on iOS and Android uses Artificial intelligence (AI) to guide users on how to manage their finances.
The app is available in Swahili and thus aimed at educating users on everything regarding finance.
“Financial literacy is a key gap in the growth and development of this market. Over 50 percent of Tanzanian adults do not keep track of their expenditure and have no financial goals. This factor leads many citizens to engage in bad debt practices which in turn leads many people into abject poverty,” Co-founder, Mipango, Lilian Makoi.
“We see the launch of this application as an opportunity to change the way our citizens run their everyday lives and better their relationship with money. The app will help the consumer to receive free financial advice, track their various income, track all their expenses on the go, manage their loans and debts, and also gain access to relevant investment opportunities.” Makoi added.
Mipango is a personal service mobile application that enables users to manage their income, expenses, savings.
It also helps the users manage their financial targets and budgets and also help access relevant investment opportunities.
The company has a target of one million downloads within a year. By then it would gradually start to unveil its products.