Sasai lauded for driving financial inclusion in fintech

Business reporter
CASSAVA Fintech International’s super mobile application, Sasai, has been described as a catalyst for growing Africa’s financial technology sector.

The Sasai application offers a unique combo of mobile payments, social media, instant and secure messaging, voice and video calling, entertainment and much more, and is projected to play a key role in connecting start-ups and entrepreneurs, along with established players in sectors such as the financial services sector, to a worldwide marketplace.

Global Renaissance Investment chief executive officer Mr Ngoni Dzirutwe said Sasai has come in handy in enabling entrepreneurs and businesses to rethink their business models and adopt business concepts that are more impactful, sustainable, and connected to other sectors of the economy.

“For example, financial technology has gone beyond the financial sector to affect many other sectors of the economy, transforming product designs and business models across many market segments,” he said. “Businesses are able to design products and trade online, and individuals are able to operate financial services and make payments for shopping and for investments,” said Mr Dzirutwe.

The introduction of an all-in-one, multi-purpose app is said to be on course to changing the narrative on a continent traditionally used to playing catch-up in the area of tech-based innovation.

Mr Batanai Matsika, head of research at Morgan & Co investment advisory firm said the introduction of mobile applications such as Sasai was promoting financial inclusion.

“We have seen an increased interest in people using mobile applications to widen their investment options. It then becomes important for people to get all their investment options under one platform,” he said.

Economic commentator Francis Mukora also concurred saying that applications such as Sasai have the capacity to accelerate innovations in the financial services sector, where the brick-and-mortar model is slowing fading away.

“The banking industry is in a critical stage of innovation, and it’s up to financial technology companies to make use of applications that are mobile friendly to meet the ubiquity of mobile payments and global consumer demands for on-the-go access,” he said.

Sasai’s parent company Cassava Fintech International recently partnered with MasterCard to advance digital inclusion across Africa and to collaborate on a range of initiatives, including expansion of the Africa CDC TravelPass sitting on the Sasai app, which will help enable safe travel on the continent as African nations jump-start their economies and look beyond the Covid-19 pandemic.

Mr Mark Elliott, Mastercard Southern Africa Divisional President, said MasterCard and Cassava Fintech are looking forward to explore “new solutions that will make a difference and benefit the continent”.