5 Financial Apps you didn't know about

The fintech world is evolving. Developers and financial experts have come up with a series of mobile solutions and software which have significantly changed our ways of using financial products and money. Recent years have seen a boom in the financial technology market in Cameroon, a market valued at billions of FCFA and fueled by the exponential growth of mobile banking, with local start-ups digitally battling to get their share of transactional revenues. In this article I'll be presenting a series of 5 Financial Apps you didn't know about which can make you save or increase your income.


Nkwa


Nkwa is a mobile app whose primary feature is to permit users to save funds. With Nkwa you can save funds starting from 100F from your mobile-money wallet. You can equally create an emergency fund or a saving goal account if you're planning to make a future purchase. The app also pays variable interest and withdrawal fees are generally less than 2%. You can as well send and receive funds with Nkwa and equally open a grouped saving if you're planning to save with some friends or mates. Deposits and withdrawals are mostly quick and the customer service is very proficient.
You can get the app on Playstore.


Neero


Neero is one of the fastest growing finance start-ups in Cameroon. They showed up in fall 2023 as a company whose goal was to facilitate online payment and have since been issuing VISA cards to over 100,000 users. Neero permits its users to get a virtual debit card and carry out online payments. The app is equally an all-in-one which permits users to purchase airtime, send and receive money globally as well as pay utility bills (electricity, water, TV etc). Additionally Neero has an option called Vault which permits its users to block funds in an account for a particular period of time and like Nkwa, its withdrawal fees are generous.
Download Neero.


BitKap


Just like Neero, BitKap is a fintech app which has been around since 2021. It permits its users to deposit, send, receive and withdraw funds. One of its most used features is the conversion of FCFA to cryptocurrencies (BTC, USDT, ETH etc) at affordable exchange rates. It also permits the purchase of airtime and the transfer of funds between users. Download Bitkap.


Ejara


Ejara is an asset management finance app offering its users the opportunity to save funds and invest them in cryptocurrencies. The app offers native saving accounts right from your mobile phones with a fixed interest rate of 5%. You can deposit and save as low as 1000F, you can equally purchase cryptocurrencies right from the app as well as transfer funds. Get Ejara.


Kamte


Kamte is a simple income tracking app developed by Ozo Soft (a local software development company). It permits users to list their daily income and expenses, track them over time, get expense statistics and export their data in CSV format. A suitable and easy-to-use app for users willing to have a tool that allows them to track their income. Download Kamte.


While the above mentioned apps are some of the top-performing in the local market, other apps exist like : Paysika (similar to Neero, issues virtual cards and permits online payments), MTN MOMO app (allows transfers of funds and more recently issues virtual debit cards) or Sara Money (the mobile banking app of Afriland First Bank, perhaps the largest bank in Cameroon). These apps should be used based on needs and convenience, and users should be aware that even though they're highly secured, potential risks still exist.