This archive report was first published on 19 May 2020.
On Monday, Cytonn FinTech, a subsidiary of Cytonn Investments, introduced the Cytonn Wallet, a digital wallet investment vehicle that promises investors an 11% return on their investment per annum.
According to Edwin Dande, Chief Executive of Cytonn Investments, the company's decision to venture into the digital wallet business was informed by the rapid evolution of financial technology (fintech) over the last decade.
“We are in the business of identifying client needs and offering effective and efficient solutions. Cytonn wallet is our solution to an existing need and what makes it unique are features such as Instant2Send, Instant2Transfer, Instant2PayBills, Instant2Mpesa, Instant2Bank, Instant2Invest and most importantly you stand to earn up to 11% P.A,” said Dande.
With the Cytonn Wallet, clients can withdraw up to Ksh300,000 daily to their M-PESA or bank accounts via PesaLink, and send money to other M-PESA numbers or bank accounts.
The Cytonn Money Market Fund, which the digital wallet is linked to, seeks to obtain a high level of current income while protecting investors' capital and liquidity.
Published on May 19, 2020, at 2:46 PM EAT.
