Financial planning has become a vital part of managing personal and business finances, helping people to budget, save, invest, and achieve their financial goals. In Kenya, where mobile technology plays a significant role in everyday life, financial planning apps have emerged as essential tools for tracking spending, managing savings, and making informed financial decisions. These apps offer features such as budget tracking, investment advice, savings plans, and financial goal setting. Below is a list of financial planning apps in Kenya.
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M-Shwari
M-Shwari is a mobile banking platform offered by Safaricom in partnership with Commercial Bank of Africa (CBA). It allows users to save and borrow money directly from their M-Pesa accounts, making it convenient for financial planning and goal setting.
Features:
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- Savings account with an option for fixed-term savings.
- Quick access to loans based on M-Pesa usage history.
- Interest earned on savings.
M-Shwari encourages saving by offering an interest rate on deposits, helping users build an emergency fund or save for specific goals.
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Branch
Branch is primarily a lending app but has strong financial management features that help users understand their cash flow. The app uses data from mobile transactions to offer loans and tracks repayment habits to improve financial responsibility.
Features:
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- Loan management and tracking.
- Financial insights based on spending and repayment patterns.
- Credit score building to improve financial standing.
Branch helps users manage their debt responsibly by tracking loans and repayments, making it easier to plan financially.
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Tala
- Overview: Tala is another mobile-based lending app in Kenya that offers loans to individuals and small businesses. It also provides tools that help users understand their creditworthiness and track spending habits.
Features:
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- Instant access to loans.
- Spending insights based on mobile data.
- Tips on improving credit scores.
Tala’s personalized financial insights encourage users to make informed borrowing and spending decisions, supporting long-term financial health.
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Jijenge
Jijenge is a savings app that encourages Kenyans to save for specific goals, whether it’s for a major purchase, education, or an emergency fund. It allows users to lock in savings for a period of time, providing an opportunity to build financial discipline.
Features:
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- Goal-oriented savings plans.
- Ability to lock savings for fixed periods.
- Financial goal tracking and progress reports.
Jijenge promotes disciplined savings by providing goal-setting features and offering motivation to users as they hit their financial targets.
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PesaPlan
PesaPlan is a comprehensive budgeting and financial planning app that allows users to track their income, set spending limits, and create savings plans. It is designed to simplify personal finance management by providing clear, easy-to-use tools for budgeting and financial tracking.
Features:
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- Monthly budget tracking.
- Financial goal setting and tracking.
- Notifications and reminders for bill payments.
PesaPlan’s budgeting features help users maintain control over their finances by monitoring daily, weekly, and monthly spending.
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iSave
iSave is a mobile app that helps individuals and small businesses manage their finances by providing budgeting tools, savings plans, and investment advice. It encourages financial responsibility and offers insights into how to grow savings.
Features:
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- Personal and business budgeting tools.
- Fixed and flexible savings plans.
- Investment advice and financial tips.
iSave provides not just a platform for savings but also offers financial education through personalized investment recommendations.
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KCB MobiGrow
KCB MobiGrow, launched by Kenya Commercial Bank (KCB) in partnership with the MasterCard Foundation, is an app that provides financial planning services specifically targeted at small-scale farmers. The app focuses on savings, credit access, and financial education for users in the agricultural sector.
Features:
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- Savings accounts tailored for farmers.
- Access to loans for agricultural inputs and equipment.
- Financial literacy tools for better money management.
KCB MobiGrow is ideal for farmers looking to manage their income and expenses while growing their agribusinesses.
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Abacus
Abacus is a digital investment platform that allows Kenyans to invest in stocks, bonds, and other financial assets. It also includes financial planning tools, making it a useful app for users who want to save and grow their money through investments.
Features:
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- Access to stock and bond markets.
- Portfolio management and financial planning tools.
- Investment insights and market analysis.
Abacus is perfect for users looking to integrate investment strategies into their financial planning and achieve long-term wealth.
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Finty
Finty is a relatively new app that focuses on helping users track their spending and manage their personal finances. It offers a user-friendly interface that simplifies financial management and gives users an overall view of their financial health.
Features:
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- Expense tracking and categorization.
- Budget planning and financial goal setting.
- Reports on spending habits and trends.
Finty’s emphasis on user-friendly design makes it easy for first-time users to plan their finances without feeling overwhelmed by data.
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ChamaPesa
ChamaPesa is an app designed specifically for savings groups (commonly known as chamas) in Kenya. It helps these groups manage their savings, contributions, and lending activities, making financial planning easier for collective savings initiatives.
Features:
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- Tracking of member contributions and group savings.
- Loan management within chamas.
- Financial reports and transparency for group members.
ChamaPesa simplifies the financial management of savings groups, making it easier for them to achieve collective financial goals.
Also Read: List Of E-commerce Websites In Kenya
