• Tuesday, July 16, 2024
businessday logo

BusinessDay

Miniemoney launches Nigeria’s first family finance app

Miniemoney launches Nigeria’s first family finance app

Miniemoney, a fintech-edtech Hybrid Company has launched its principal product – a family finance mobile application that allows parents/guardians save for their kids/wards while providing financial services such as access to debit cards, savings accounts, in-app cash transfers and financial learning to kids and teenagers.

The product was ushered in with a Children’s Day event themed, ‘Money Games,’ hosted by Joli, a subsidiary of Miniemoney, in partnership with Delifrost, Justkiding, Milo, Dominos Pizza, Coldstone Creamery, Kunda kids amongst others. The event was free to enter, emphasizing Miniemoney’s inclusiveness and commitment to servicing Nigerian families at every level.

Miniemoney’s MVP launches with features such as EarnIT, which allows kids and teens to earn money from completing chores and tasks assigned to them by a parent or guardian.

Gbolahan Faniran, CEO and founder of Miniemoney, said EarnIT can also be used to reward youngsters for academic or related successes.

Read also: Digital skills, infrastructure will enhance displaced youth’s learning – Experts

Faniran mentioned other features such as Minie Wallet, Minie Transfers, Kids’ Savings Account, and in-app quizzes and puzzles.

He said the app is divided into two journeys; the parent journey and the youngster journey, adding that youngster accounts must be verified by a parent or legal guardian before accessing certain features, however, in-app learning is available to every youngster with or without parental verification.

Apart from providing a channel for parents to save towards their children’s expenses and future, Miniemoney solves two key problems – providing financial literacy to minors and helping families include their young ones in family finances.

“As parents build their financial empire and create wealth, developing the financial knowledge of the next generation is key to building a family legacy,” he added.

He said the launch event for Miniemoney falling on the weekend of Children’s Day is no coincidence, noting that the company, as well as its product, takes a child-first approach to every endeavour, evident in the design of the product.

At the event, kids said they will do away with primitive ways of saving by smashing old-school piggy banks (kolo) and embracing newer and better ways of handling money.