It is a secure web & mobile application that lets you make locked savings via MTN mobile money or Orange Money, for a set period of time towards achieving a set goal. E.g. buying a new phone, paying off a debt or taking a vacation.

We help our users (youth, who most likely have the YOLO mentality) control their spending habits and focus on goals that matter by giving them free access to their saved funds on Nkwa only when they have reached the duration or target amount they had set towards achieving a goal.

We also pay users a 3% per annum (higher than any bank in Cameroon) interest rate on their saving to motivate them to save more towards their goals. 

In sub-Saharan Africa, less than 1% of the population is born into wealth, less than 10% is born into the middle class and more than 80% of the population must save at least 40% of their monthly income to meet the basic needs like shelter, food, education, and health care. Despite this, we are not taught in any formal setting how to keep money or how to grow it - basic personal finance skills are difficult to acquire, as a result even when a young adult begins to earn more than he needs to survive, he ends up living from paycheck to paycheck because he thinks of his income largely in terms of spending, and did not learn to save or build assets in proportion to what he/she earns. That’s why our mission with Nkwa is really to help young people better manage their money by teaching them a culture of saving and providing them with personal finance knowledge.