Old Mutual, Airtel launch Phuka Digital Savings product – The Times Group

Old Mutual, Airtel launch Phuka Digital Savings product – The Times Group

Post was last updated: October 26, 2023

Old Mutual Investment Group (OMIG) Managing Director Mark Mikwamba has reaffirmed the firm’s commitment to efforts aimed at inculcating a saving culture in Malawians.

He said this in Blantyre, Wednesday, when the firm, in partnership with Airtel Malawi, launched Phuka Digital Savings product.

“This is a digital platform that has been launched upon the realisation that everyone is using digital platforms such as mobile money now. As such, we want to encourage people to be saving money, starting with a minimum of K5,000. The limit is the wallet one has in their Airtel Money account. The amount in one’s Airtel Money pocket can generate profit for platform users now. This is our way of promoting financial inclusion in the country,” Mikwamba said.

Airtel Money acting Managing Director Virginia Jere said one can access Phuka Digital Services using any phone.

“With an investment of as low as K5,000, people will be getting value for money because they will be finding something more each day they check the balance.

“The launch of the product means Old Mutual now has access to 4.5 million Airtel active customers. We have a network of 1,300 branches and over 118,000 agents across the country. People can invest and disinvest without getting any penalty,” Jere said.

After the launch at Mount Soche Hotel, officials were to Ndirande for other activities.

For people to become part of the product, they just need to dial *211# and follow the prompts.

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