Kenya’s Chumz is helping users save and invest from their mobile money accounts

Kenyan startup Chumz has built a goal-based mobile app that helps users save and invest money from their mobile money accounts, with as little as US$0.05. The platform works by channeling funds collected from a user’s mobile money account to a licensed fund manager, who then offers a return to the fund. Earned interest is then redistributed to individual clients. One of the unique features of Chumz is that it encourages users to save based on their behaviour.