Day 31 | #40Days40FinTechs Zambia and Malawi Edition
Across Africa, thousands of women participate in informal savings and lending groups. These groups are a lifeline for many households but are often run manually on paper, in cash, and without any formal structures. This leaves them vulnerable to mismanagement, fraud, and exclusion from the broader financial system.
Enter Save and Remit, a Zambian FinTech on a mission to modernize and digitize these grassroots financial communities.
Founded by Putty Kabango Muuka, Save and Remit developed a digital platform specifically for savings groups, village banking collectives, and cooperatives. Available on the Google Play Store, the app creates a secure digital identity for each group, enabling them to manage savings, track transactions, and integrate with mobile money and bank card payments.
“Our platform gives informal groups structure and visibility,” said Kabango. “We are turning cash-based circles into digitally recognized financial entities that can eventually access loans and services from microfinance institutions.”
Getting started with Save and Remit is simple. After downloading the app, a group registers by inputting member details, savings cycles, and preferences. The platform assigns an 11-digit code that administrators use to onboard members. Once inside, users can view their contributions, download real-time statements, and transact digitally eliminating the need for physical recordkeeping.
Although the app launched during the COVID-19 pandemic, it saw significant traction in 2022, following pilot projects with organizations like FSD Zambia. Today, over 50 savings groups with more than 1,000 users are active on the platform.
Despite its growth, Save and Remit faces familiar hurdles for African FinTech start-ups: expensive licensing requirements, challenges securing aggregator agreements with telecoms, and the high cost of developing USSD functionality for non-smartphone users.
“We need more support to expand our reach especially for women who don’t have smartphones,” Kabango noted. “#40Days40FinTechs is a great platform. We hope it can help us engage regulators, secure funding, and scale this solution to more communities.”
Save and Remit was featured on Day 31 of the #40Days40FinTechs Zambia and Malawi edition—a continental campaign spotlighting innovation across Africa’s FinTech ecosystem. The initiative, led by HiPipo, has profiled more than 200 FinTechs over five years and continues to champion inclusive finance using tools like the Mojaloop Open Source Software, Level One Project principles, and a gender-intentional lens.
As digital finance gains ground, platforms like Save and Remit are showing that innovation isn’t just about new tech it’s about meeting real needs, especially for those often left behind.
