Fintech Startup DigMo Rolls Out Gamified Wallet in Zambia

Fintech Startup DigMo Rolls Out Gamified Wallet in Zambia

By Staff Writer 26 November 2024
A woman in a navy blazer and white shirt against a white wall.

Sylvia Brune of DigMo

Zambia has welcomed the launch of DigMo, a fintech startup licensed by the Bank of Zambia, aiming to transform financial planning for low and middle-income earners. The company offers a free, secure digital wallet designed to encourage saving habits through an innovative "financial planning game."

The app’s flagship feature, Save to Win, allows users to save as little as ZMW10 (US$0.37) for a chance to win prizes of up to ZMW500,000 (US$19,000). By gamifying the savings process, DigMo hopes to inspire long-term financial habits. The service is free of fixed costs or fees, ensuring accessibility for everyone.

“Our approach is like a game studio—we innovate, test, and refine to create products that truly resonate with users,” said Sylvia Brune, CEO of DigMo Group. She emphasized that merely adapting existing financial tools isn’t enough, stressing the importance of user-focused innovation to achieve meaningful behavioral change.

Source: Tom Jackson / Disrupt Africa

Related Report

Future of Fintech in Africa

The Future of Fintech in Africa

Eighteen percent of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, without a bank account or a digital wallet. This presents a massive opportunity, making fintech the most dominant and funded tech sector in Africa today. This special report highlights how African fintechs not only have one of the largest total addressable markets globally but are also crucial for achieving financial inclusion and empowering unbanked populations. The potential impact of a successful fintech in Africa is unparalleled. To learn more about the drivers, barriers, and opportunities in African fintech, as well as progress toward financial inclusion, read the special report.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems