Women are better savers, says CashBox chief

When it comes to the culture of saving cash, women are better, a digital savings platform, CashBox, said on Tuesday in Lagos.

Its Chief Executive Officer, Aigbogun Sydney who spoke during an interaction with reporters in Lagos, on Tuesday, said women are more likely to save when they have cash.

He said form the over 10,000 users of the platform so far, women have the largest percentage of between 65 per cent and 70 per cent, adding that the youths are also not left behind as people between ages 16 and 40 made the list of users.

Sydney said the platform which is now available on Android was initially web-based, stressing that work is on to make it available of iOS too.

Speaking on the various savings option available of the platform, the financial technology (fintech) chief said there are three, which include lock saving, regular saving and instant saving.

According to him, with the lock savings, people lock their savings for 90 days and earn as much as 15per cent interest while the others attract between seven and 10 per cent interest.