SA fintech Akiba Digital uses AI tech to help millennials manage their finances

Akiba Digital, a South African fintech startup, is on a mission to revolutionize the way young Africans manage their finances by leveraging artificial intelligence technology. Founded by a team of young entrepreneurs, including the dynamic Kamohele Kekan, Akiba Digital aims to address the lack of financial literacy among millennials and young professionals. The startup initially launched a savings tool that allowed users to set savings goals for various expenses, such as travel or purchases. However, they quickly realized that most of their target audience lacked the disposable income needed to save effectively. This led them to pivot towards a more comprehensive approach focused on money management and financial education. By incorporating budgeting tools and financial literacy resources into their platform, Akiba Digital aims to empower young people to take control of their finances and build a sustainable financial future. The startup's journey has not been without challenges, with one team member departing along the way. Despite the obstacles, the founders remain committed to their vision and are determined to make a positive impact on the financial well-being of their users. With a core team of young professionals, including a talented 26-year-old CTO, Akiba Digital is driving innovation in the fintech space and setting new standards for financial services in Africa. The startup's name, Akiba, meaning 'savings' in Swahili, reflects their commitment to promoting a culture of saving and financial responsibility among their target audience. Akiba Digital's platform is web-based and offers a suite of tools designed to help users manage their money effectively and achieve their financial goals. The startup is set to launch officially in September, following a successful testing phase with a thousand users. By combining artificial intelligence and machine learning technologies, Akiba Digital aims to provide personalized financial recommendations and insights to help users make informed decisions about their money. While the platform's AI capabilities are focused on enhancing efficiency and user experience, the founders emphasize the importance of human interaction in financial decision-making. They believe that technology can streamline processes and provide valuable insights, but ultimately, the human touch is crucial in establishing trust and understanding. Akiba Digital's long-term sustainability relies on acquiring between 80,000 to 100,000 active users who are actively saving and setting financial goals. The startup is also exploring opportunities in the B2B space, with plans to collaborate with corporate partners to offer tailored financial solutions. Through proof-of-concept projects and strategic partnerships, Akiba Digital aims to expand its reach and impact in the financial services industry. To connect with Akiba Digital and learn more about their innovative platform, visit their website at AkibaDigital.com or engage with their service bot on social media platforms. With a focus on financial fitness and empowerment, Akiba Digital is poised to transform the financial landscape for young Africans and drive positive change in the way they manage their money.