DigMo, a new fintech licensed by the Bank of Zambia, is redefining financial planning for underserved users with engaging, gamified wealth-building tools. Targeted specifically at low and middle-income earners in Zambia, DigMo’s wallet offers accessible and incentivized products designed to build lasting financial resilience. Its “Save to Win” feature is a unique, fee-free savings option that encourages users to save small amounts regularly, with the added motivation of potential rewards of up to 500,000 ZMW.
Heading DigMo’s mission in Zambia is James Chona, a seasoned industry leader with a background in telecoms and fintech, previously with Zamtel and Airtel Money. As Chairman, Chona’s vision is to grow DigMo’s presence in Zambia by expanding partnerships and refining operations to create scalable, impactful digital products for financial inclusion. Chona’s involvement ensures that DigMo is poised to make a significant difference for Zambia’s underserved population, helping bridge the gap to full economic participation.
Recognizing that traditional financial planning is often out of reach for this demographic, DigMo’s CEO Sylvia Brune has emphasized the need to rethink financial products, ensuring they are not only affordable but also designed to resonate with users’ real-world motivations. By adopting a game studio approach, DigMo develops and tests innovative products tailored to the unique needs of its users, creating solutions that support sustainable financial behaviors.
At the core of DigMo’s secure and low-cost approach is its partnership with pawaPass, a compliance technology provider focused on Africa. With advanced KYC and security measures, including facial biometrics, DigMo ensures robust protection and seamless onboarding for its customers, further promoting trust and accessibility. This partnership allows DigMo to offer financial solutions that are both secure and easily accessible for a broad range of users.
DigMo’s launch aligns with Zambia’s ambitious National Financial Inclusion Strategy II, aiming for 85% financial inclusion by 2028. By working closely with regulators and partners, DigMo is contributing to Zambia’s goal, fostering economic empowerment, and providing pathways for entrepreneurship. Save to Win, inspired by the UK’s Premium Bonds concept, has already proven effective in encouraging long-term savings habits in other markets and now seeks to do the same in Africa.
With expansion plans across Africa, DigMo is positioned to inspire a new wave of financial resilience. By catering to the financial planning needs of low and middle-income earners, DigMo is playing a crucial role in democratizing access to wealth-building tools across the continent, paving the way for financial independence and economic growth for all.
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