Is fingo Africa a legit & reliable app? fingo africa Reviews 2023


Fingo Africa is a groundbreaking neobank with a mission to foster financial inclusion throughout Africa. In this comprehensive review, we will delve into how Fingo operates, assess its authenticity and security measures, scrutinize user feedback, explore the company’s background, and consider alternative digital banking options in Africa. By the end, you will have a comprehensive understanding of whether Fingo is a trustworthy and suitable platform for managing your finances. Let’s start by examining the key features of Fingo.

What is Fingo Africa?

Fingo is a mobile-first digital bank that enables users to open accounts, transfer money, pay bills, and more, all through a smartphone app. Notable aspects of Fingo include:

  • Platform: Fingo operates as a user-friendly application available on both Android and iOS devices across Africa.
  • Banking Partner: Fingo collaborates closely with Ecobank, one of the largest pan-African banking networks, for its backend financial infrastructure and licensing.
  • Accounts: Fingo users can effortlessly create online bank accounts denominated in local currencies, such as the Kenyan Shilling.
  • Transfers: Users can send and receive funds to other Fingo users or mainstream mobile wallets like M-Pesa at minimal or no cost.
  • Payments: The app facilitates bill payments, purchasing airtime, and online shopping directly from the app balance.

Fingo’s comprehensive approach aims to extend the reach of inclusive finance to the underserved population in Africa, offering a full-service alternative to traditional banks.

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Is Fingo Africa Legitimate?

To ascertain the legitimacy and safety of Fingo, it’s crucial to consider the following factors:

  • Licensing: Fingo has obtained approval from the Central Bank of Kenya, allowing it to operate as a legal neobank. This licensing ensures their compliance with regulatory standards.
  • Security: Fingo places a strong emphasis on security by implementing bank-grade measures such as encrypted data protocols and two-factor authentication for accounts.
  • Reputation: Fingo is a noteworthy alumnus of Y Combinator’s acceleration program and has successfully launched its services in multiple African countries.
  • Reviews: User feedback on app stores and online forums has been overwhelmingly positive, highlighting the simplicity and reliability of Fingo’s services.
  • Banking Partner: The partnership with Ecobank, a prominent financial institution, further enhances Fingo’s credibility.

Taking into consideration regulatory clearance, robust security practices, a positive reputation, and favorable user sentiment, Fingo appears to be operating legitimately as a licensed digital bank in Africa.

Fingo Services & Features

Fingo goes beyond basic transactions and offers several value-added financial tools, including:

  • Savings: Users can allocate funds within the app to accumulate daily interest.
  • Bill Pay: It’s easy to pay utility bills, cable/streaming services, tuition fees, and more directly from your Fingo account.
  • P2P Transfers: You can send funds to any phone number locally and across Africa with minimal or no transfer fees.
  • Savings Groups: Fingo allows users to contribute to and withdraw from communal savings pots with other Fingo account holders.
  • Referral Bonuses: By inviting friends through the app’s social sharing features, you can earn credit.

By integrating these everyday banking and wealth-building features, Fingo positions itself as a comprehensive digital financial hub.

Customer Satisfaction

Analyzing third-party reviews on app stores and online forums reveals an overwhelmingly positive sentiment. Users have expressed:

  • Praise for the Intuitive Interface: The app is designed with African mobile users in mind, making it user-friendly and accessible.
  • Appreciation for Fast Transfers: Users value the seamless and speedy money transfers between individuals.
  • Satisfaction with Bill Payments: The ability to automate payments for bills, tuition, and other expenses is highly appreciated.
  • Value in Savings Groups: Both individuals and small businesses find the savings group feature beneficial.
  • Responsive Customer Support: Fingo’s 24/7 customer support has received commendations for its responsiveness.

While Fingo is still in its early stages and not without flaws, user feedback indicates that it meets the demands for improved financial services across Africa, delivering on accessibility and reliability. Continued growth and refinement are expected to further solidify its reputation.

Fingo Africa Background

Fingo was founded in 2020 by Nigerian entrepreneurs Enzio and Isaac with a clear mission to drive financial inclusion across the continent. Some significant milestones in the company’s journey include:

  • MVP Launch in Nigeria: Fingo initiated its services with an MVP app in Nigeria before expanding regionally.
  • Y Combinator’s W22 Cohort: Fingo was selected for Y Combinator’s W22 cohort, gaining critical early funding and valuable mentorship.
  • Partnership with Ecobank: Fingo teamed up with Ecobank, one of Africa’s largest banks, to leverage technical capacity.
  • Regulatory Licensure: In 2022, Fingo obtained regulatory licensure from the Central Bank of Kenya, further solidifying its legitimacy.
  • Rapid User Base Growth: Fingo has experienced remarkable growth, doubling its user base quarter-over-quarter since its public launch.

Backed by leading investors like YC, Orange Ventures, and Global Founders Capital, Fingo is well-positioned for long-term growth, making it ideally suited to serve the financial needs of Africa’s youth.

Alternative Digital Banking Options

While Fingo is a promising newcomer in the digital banking landscape, it faces competition from other platforms also aiming to serve the unbanked and underbanked populations in Africa. These alternatives include:

  • Kopo Kopo (Tanzania): A P2P payments and international remittances app.
  • Cellulant (Regional): Enabling banks and fintechs through payment gateway infrastructure.
  • Paga (Nigeria): A leading mobile money service integrated across various sectors, including transportation, bills, and transfers.
  • Mashreq Neo (MENA): The region’s first digital bank from UAE’s Mashreq, offering a range of features.
  • TymeBank (South Africa): Bank of Africa’s minimum fee digital alternative to traditional banks.

As mobile connectivity and financial inclusion continue to expand across Africa, competitive pressure and a variety of choices are set to benefit consumers.


In conclusion, Fingo Africa stands at the forefront of a digital banking revolution in Africa, poised to drive financial inclusion and empower millions of underserved individuals across the continent. This comprehensive review has shed light on the key features, authenticity, user satisfaction, and background of Fingo, providing valuable insights into the potential of this neobank.

Fingo’s legitimacy is underpinned by its regulatory approval from the Central Bank of Kenya, ensuring that it operates in compliance with established standards. The robust security measures, including encrypted data protocols and two-factor authentication, offer users peace of mind in an era where cybersecurity is paramount. Furthermore, Fingo’s partnership with Ecobank, a financial giant in Africa, adds an extra layer of credibility to its operations.

User feedback, as reflected in reviews on app stores and online forums, paints a picture of a platform that resonates with its audience. The intuitive interface, swift money transfers, and the convenience of bill payments make Fingo a user-friendly and accessible banking solution. The value-added features, such as savings groups and referral bonuses, demonstrate Fingo’s commitment to addressing the financial needs of both individuals and small businesses. The responsive 24/7 customer support further enhances the user experience.

Fingo’s journey, from its MVP launch in Nigeria to its inclusion in Y Combinator’s prestigious cohort, highlights its potential for growth and innovation. The partnership with Ecobank, regulatory licensure, and impressive user base growth underscore its legitimacy and resilience in a competitive landscape.

However, Fingo is not alone in its mission to bank the unbanked. Competing platforms like Kopo Kopo, Cellulant, Paga, Mashreq Neo, and TymeBank are vying for a share of the digital banking market in Africa. This competition, fueled by the expansion of mobile connectivity and financial inclusion, will ultimately benefit consumers by providing a wide range of choices and driving innovation in the industry.

As we navigate the future of finance in Africa, Fingo’s commitment to responsible practices and continued growth will be pivotal in establishing itself as a trusted and preferred banking solution. The potential for further innovation and adaptation to the evolving needs of the African population is immense, and Fingo is well-positioned to lead the way.

In a world where mobile technology has the power to unlock boundless opportunities, Fingo Africa represents a promising force for change, contributing to the realization of financial inclusion and economic empowerment across the continent. As it continues to refine its services and expand its reach, Fingo is set to play a vital role in the financial landscape of Africa, providing access to financial services that were once out of reach for many.

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