envestreet financial logo

Some of the best Money-Saving & Financial Management Apps Revolutionizing Personal Finance in Kenyan.

The digital era has brought forth numerous inventive solutions to enhance the efficiency of financial management, exemplified by the emergence of money-saving and financial management apps.

This is occurring at a time when the ability to manage personal finances has become essential for attaining financial stability and ensuring a comfortable future.

In Kenya, where the demand for accessible and user-friendly financial tools is growing, several money-saving & financial management Apps are revolutionizing the way individuals handle their money.

Let’s explore some of the best money-saving and financial management apps that are making waves in the Kenyan market.


Koa is a savings and investment App that offers a safe, easy, and convenient digital savings platform for everyone who wants to save and grow their money.

The platform makes it easy for users to set personal saving goals towards a particular expense like paying school fee, buying a new phone, cars or even marriage. The app nudge users’ by sending them daily, weekly, or monthly reminders to deposit into the goals they set. Koa also makes it easy for users to track their progress so that they won’t slack or help them back on track when they do.

On Koa, users earn up to 10% interest on their money annually, depending on market conditions. They also earn interest daily, which is good because they see their money grow in real time.


Chumz 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.

The app offers an easy, convenient, and accessible way for users to save and invest, helping them to reach their financial goals. Users are allowed to create their goals for saving money or, they can use the ones that are already pre-set on the app. On locked savings, a user earns 8% per annum while normal savings earn 6% per annum.

Related Post:   Need Urgent Cash; Discover some of the best Logbook Loans in Kenya.

Chumz is among the latest entrants into the money-saving apps in Kenya. The application which won the Best Mobile App for Digital Savings 2022 in the Mobile App Awards, enables one to save as little as KSh5.

Once a user requests to withdraw money from their Goal, it takes two days to get the funds which are deposited to their M-Pesa account.


Sortika is a mobile based personal wealth management solution, that allows customers to create and meet their wealth building and life goals. It’s supported by Altree Capital- a licensed fund manager by Capital Markets Authority.

Based on the savings and investments one picks, you can earn interest which is calculated based on the yield of the asset against the amount and time invested in that asset. Sortika doesn’t require a minimum top –up. You can save from as low as Kes 1 and there is no maximum period. You can save and invest for as long as you want.

Sortila has 4 goals on its platform.

BYOB: – The BYOB is an admin defined goal designed with strategies that help a user operate like a bank. The emergency fund is purely to save funds that would ideally be needed in an emergency. The fund can be used as an income earner by lending the funds therein to other Sortika users.

Savings goals: Under savings goals, Sortila has 3 types:

Custom goal– This is a user defined goal that only helps the user save and can withdraw at any time.

Premium goal– This is a goal towards purchase of items/services being distributed through Sortika App.

Fixed goal-These are goals pre-defined by Sortika admin. They have a fixed time and amount.

Investment Goals: These are goals created towards making an investment/to earn a passive income. The App provides access to various investment asset classes including but not limited to money market funds, certificate of deposits, REITS, Bonds, treasury bills, offshore stocks, local stocks, Global funds etc.

Related Post:   The Difficulties of Learning Forex Trading: Understanding the Complexity and Risks of the Market.

Group Goals: These are goals by groups such as chamas, self-help group, mchango groups etc. Members create a group and their savings towards the group fall under the category of group goals.


Flexpay is a merchant-embedded saving-based purchase experience (Save Now, Buy Later) that offers a flexible payment option that allows customers to make purchases and pay for them over time, rather than paying the full amount upfront.

Flexpay allows customers to save at their own pace for purchases from reputable brands and stores. It also offers open goals and group savings features, empowering individuals to achieve their dream purchases through gradual savings.

During the disbursement, each saver receives the total amount saved within the phase duration. The customer is at liberty to choose to get back the amount in a lump sum or check out from any of Flexpay partner merchants.

Flexpay also run Chamas which are divided per contribution, one joins the chama that fits their budget. Flexpay chamas are virtually organized chamas/groups of savers that run for 6 months, Jan-June & July – Dec. During the disbursement, each saver receives the total amount saved within the phase duration.


M-Shwari is a revolutionary banking product created in partnership with M-Pesa and NCBA, which allows you to save and borrow money through your phone while earning you interest on money saved. You can open and operate an M-Shwari bank account through your mobile phone via M-Pesa, without having to visit a bank or fill out any forms.

M-Shwari runs two saving products. The M-Shwari Deposit Account which is a micro-savings product that allows you to securely store your money for a specific purpose or for an unexpected event in your life and Lock Savings Account which is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time.

The funds saved on the M-Shwari Lock Savings account will be kept in the account until the maturity date which is determined by the customer upon opening the account and ranges between one and twelve months. However, the customer can request to withdraw the funds from their Lock Savings account. The request will be processed in 48 hrs.

Related Post:   A list of Licensed Insurance Companies in Kenya.

KCB M-pesa 

KCB M-pesa is a savings and loan service that enables M-pesa customers to save as little as KSh. 1, and access credit from KSh. 100 payables within a month.

With KCB M-pesa there are no forms to fill out, no branches to visit. Just one click on your phone and you have a savings account with access to instant loans!

There are two Savings accounts available on KCB M-pesa. Save for a fixed period (Fixed Deposit Account) or save a little at a time for a set period (Target Savings Account) and earn interest of up to 6.3% p.a. on your saving balance.

KCB M-pesa Fixed savings account allows you to lock a specific amount of cash for a period of up to 12 months while Target savings account allows you to set a target and make deposits toward achieving that target for a period of up to 12 months.

KCB Mpesa also allows you to access loans instantly, credited to your M-pesa account from a minimum of KSh 100 and up to KSh 1 million charged a facility fee of 8.85%.

Transfer money in and out of the KCB M-pesa Account for free.

Key takeaway

The rise of money-saving and financial management apps is transforming the way Kenyans approach personal finance.

These apps offer accessible solutions for budgeting, saving, borrowing, and investing, making it easier for individuals to navigate their financial journeys. Whether you’re looking to save for a goal, track your expenses, or access credit, these apps are empowering Kenyans to take control of their finances and work towards a more secure financial future.

Do you have any story or press releases  you want to share? Send tips to editor@envestreetfinancial.com

Follow us on TwitterFacebook, or LinkedIn to ensure you don’t miss out on any

Share This Post

Like This Post


Related Posts

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x