Firm launches app to aid financial inclusion in Nigeria

A Nigerian financial technology company, Hollaport Technologies Limited, has launched a mobile phone application that it says would help bridge gap in financial inclusion while providing messaging services.

Speaking at the unveiling in Lagos, Hollaport’s founder, Kabiru Rabiu, said the app will ease financial transactions for smartphone users in the country.

The app is available on the Google Playstore and the iOS Appstore

Mr Rabiu, who is the executive director of BUA Group, said users of the application can send and receive money using their phone contacts.

Other features of the app, he said, include airtime top-up; cable, electricity, data subscription; and paycode system that enables recipients to withdraw cash from the ATM without the need to have a card or bank account.

He added that the app is a multi-layered messaging and financial technology platform that will evolve into an expanded platform.

The Hollaport CEO said new features will make it exciting and extremely convenient to transfer money and make payments not only in Nigeria but also throughout the African continent.

He said financial inclusion is a major issue in Nigeria, with about half of the adult population being unbanked and only a fraction of the banked citizens using technology in their transactions.

Mr Rabiu said Hallaport Technologies seeks to address this disconnect by reducing the learning curve associated with mobile applications.

The company, he said, has taken time to develop a lifestyle tool that can fit in all areas, while maintaining ease-of-use.

He added that over 85 per cent of Nigerian adults own a mobile device; 103 million have active Internet subscriptions, and a large percentage of this data size have a presence on social media.

He said Hollaport aggregates instant messaging features with financial technology to ensure the app is as relevant as it is functional.

The General Manager of the company, Michael Olowojesiku, said the company will work assiduously towards making the app available to Nigerian telephone users in all parts of the country.

“Despite the simple interface, Hollaport is packed with features such as media functionalities where you can send photos, videos and documents. Users can request or send money within the chat area for a seamless experience and can also pay bills, utilities and make subscriptions,” he said.