Ugandan entrepreneur Asher Namanya has launched a homegrown quick-pay application that targets the diaspora and aims to compete with industry giants such as Western Union and Moneygram.
The application dubbed Cash Chat, will be used as a social media channel and mirrors WhatsApp.
It has a money wallet that enable users to save, receive and send money to others on the platform.
Cash Chat which can be downloaded from Google App store is riding on social media and internet improving penetrations in Africa to encourage saving culture.
“Cash Chat encourages people to use social media constructively. It goes beyond normal chatting to introduce investment and networking options. It is a multi-national online ‘chama’ (saving scheme),’’ Namanya said during the launch in Nairobi last Friday.
The 28 year old innovator is the founder of Pesa Moni and Bold Cashers Limited, social entrepreneurship and networking platforms with members from Kenya, Uganda and Rwanda.