Koa is your partner for a better financial future! We make saving simple, seamless, flexible, and hassle-free. We want to help you achieve your financial goals right from your phone.
We work closely with the Capital Markets Authority(CMA)
We are delighted to announce that on May 26,2021, we were accepted to the CMA Sandbox. See the CMA's Press Release and list of accepted firms.
We only partner with reputable and regulated investment partners
Your Savings are always invested with regulated partners. These include asset managers, investment banks, and retail/institutional banks.
Your funds will always be invested in regulated products such as collective investments schemes (i.e. Money Market Funds), fixed deposit accounts, shares and bonds publicly traded on the Nairobi Stock Exchange (Investment Products).
These investment Products are made through our partners who are regulated financial service providers such as but not limited to asset managers, investment banks, and retail/institutional banks, Saccos and Cooperatives duly regulated by the Capital Markets Authority, Central Bank of Kenya, Sacco Societies Regulatory Authority and the Commissioner of Cooperative Societies.
This ensures that Koa gets the best interest rate while considering the safest return on investment.
We partner with regulated financial service providers such as asset managers, retail and investment banks, Saccos and Cooperatives, who are all duly regulated by the Capital Markets Authority, Central Bank of Kenya, Sacco Societies Regulatory Authority and the Commissioner of Cooperative Societies.
The safety of your money is our top priority. Your money will be safe as it is only invested with regulated third party financial institutions such as asset managers, retail and investment banks, Saccos and Cooperatives, duly regulated by the Capital Markets Authority, Central Bank of Kenya, Sacco Societies Regulatory Authority and the Commissioner of Cooperative Societies.
Your money is being held at one of our trusted partners. We work with Britam and Sanlam to invest your funds and provide you a return. Both institutions are regulated and licenced by the capital markets authority,
The safety of your data is very important to us. All information you provide through our application is securely stored and once verified, will only be accessed upon your request.
Get started saving with a 2 minute digital onboarding
Save as little as sh.100
Make free deposits via MPESA
Grow your money with compounded daily interest
Access your funds when you need to with same day withdrawals
Interact with excellent customer support right from your app
Financial literacy through articles and webinars
Outside of the Koa app, we’ll keep you up to date with regular app updates, spontaneous gifts and occasional lunches with our team.
Yes, our registered office is at 3rd Floor, Rhapta Heights, Rhapta Road (crossing with St. Michael Road), Nairobi.
We've been around for close to a year now.
For knowledge: Here's a short summary of our journey this far;
2018: Alexis & Delila,Koa co-founders, meet and begin brainstorming
2019: The team of two meet Bubunyo Nyavor, CTO, and a spark ignites
2020: 1000+ interviews with potential users to better understand the market
2020: Koa partners with Sanlam & launches in Beta
2021: A two-month break to take in the learnings, grow the team and come in stronger
2021: Koa partners with Britam Asset Managers and goes live in June
We're excited to have you on the ride for what comes next. ✨
Get started saving with a 2 minute digital onboarding
Save as little as sh.100
Make free deposits via MPESA
Grow your money with compounded daily interest
Access your funds when you need to with same day withdrawals
Interact with excellent customer support right from your app
Financial literacy through articles and webinars
Outside of the Koa app, we’ll keep you up to date with regular app updates, spontaneous gifts and occasional lunches with our team.
We've been around for close to a year now. For knowledge: Here's a short summary of our journey this far
2018: Alexis & Delila,Koa co-founders, meet and begin brainstorming
2019: The team of two meet Bubunyo Nyavor, CTO, and a spark ignites
2020: 1000+ interviews with potential users to better understand the market
2020: Koa partners with Sanlam & launches in Beta
2021: A two-month break to take in the learnings, grow the team and come in stronger
2021: Koa partners with Britam Asset Managers and goes live in June
We're excited to have you on the ride for what comes next. ✨
It takes a few minutes to get started saving on Koa.
Here’s how:
Download the Koa app from the App Store & Play Store
Create an account by signing up with your preferred email address
Verify your mobile number
Complete your profile by providing your full legal name, your date of birth, that is registered to your name, identity information such as your National Identity card or Passport number and your home address.
Your account will be verified in a few minutes
Create your first goal or deposit into your Koa Account
Your Koa PIN is a unique & confidential 4 digit PIN that you will use to secure your Koa account.
You will use it to authenticate your withdrawals and to access your account.
Some tips for you:
Ensure your PIN is unique
Use a PIN that is not easy for others to guess
Choose a PIN you can always remember
Never share your PIN with anyone, not even Koa staff
For security reasons, you can change your PIN at any time through the Koa settings menu.
You can find the Koa app on the App Store and Play Store
A smart-phone
An MPESA registered phone number
A Kenyan issued National ID or Passport
An active KRA PIN (Optional)
Providing your KRA PIN on Koa unlocks a higher saving limit. It serves to check that the identity documents provided matches with what has been recorded on official databases.
Rest assured, your data is 200% protected and we ensure that it is only used for verification purposes.
Koa does not sell your private information to any other parties.
Yes. For compliance purposes, we will require that the name on your identity document matches the name on your MPESA.
Not just yet. We’re working on enabling multiple payment options so that all customers can save how they would like to save.
Yes we accept Alien ID are a form of identity, please ensure you provide your name and Date of birth as per your ID card.
KYC or KYC verification is the mandatory process of identifying and verifying your identity when opening a Koa account and periodically over time.
We need this KYC Verification to provide an additional layer of security on your Savings in regard to authentication.
Our verification process usually only takes anywhere from a few minutes to 24 hours based on feedback from our security partners and government databases.
Validating your KRA PIN generally only takes a few minutes to 24 hours based on feedback from our security partners and government databases.
Our KYC process involves cross checking the details you provide across various government agencies such as the Kenya Revenue Authority and the Integrated Population Registration System.
All information you provide through our application is securely stored and once verified, will only be accessed upon your request.
Your verification can be unsuccessful if the information you provide is incorrect or cannot be verified. You will be informed via the app, where you will be able to edit your details accordingly so they can be submitted once again. Alternatively, you can reach out to our Support team for assistance.
Your Koa account is where your funds are held and is the entry point to the Koa app. Money held in your Koa Account does not gain interest, instead your funds here can be utilized towards products available on the App. Move your money into a My Savings product to start saving and earning interest.
The “My Savings” tab found at the bottom of your home screen gives you access to different types of investment products that are available to you. Start investing in the ones that are a right fit for you.
Your money does not earn interest whilst it sits in your Koa account. You must place your money into a Savings product for it to start earning interest. The Koa products are outlined in the Koa Products section.
Higher interest as an incentive to reach one’s targets or goals (A Locked Saving will earn more than a Normal Savings).
This is an optional feature available when creating a specific “Savings type” that enables you to lock your Savings.
This option offers 2 major benefits:
The “lock” feature on the Savings enables you to prevent withdrawals until the date or amount you set has been reached by helping discipline your habits through greater reward, but with also a risk through the penalty feature.
My Savings is a product that allows you to set your own target or goal either as a target amount, period, both, or neither.
Yes you can. Here’s how:
Click on a goal under "My Savings" on the Home Page
Alternatively, click on More or Swipe if you have multiple goals
Select a goal that you would like to edit
At the top you should see three vertical dots. Click on them.
Select 'Edit'
Update the details of your goal
Click save
That’s it 🎉
Not at all, unless you have locked your savings.
We completely understand that life happens. You are welcome to edit your Savings to fit your circumstances or delete it if it is no longer serving you.
Congratulations! You can choose to withdraw your money and spend it towards your goal! OR Better yet, you can choose to keep growing your money by continuing with the Saing, and it will continue to accrue interest!
When you create a Savings, you have the option to lock this saving if it has a target amount or period that you have selected. By locking a Savings, you earn higher interest than a Normal Savings that is not Locked; however, you will also face a penalty of 2% on the balance in the Locked Savings anytime you choose to withdraw funds. This option has been created at the request of our users who need more discipline to empower their Savings habits.
The funds in a Locked Savings will automatically transfer to your Koa Account upon completion of either the target amount or period you have set (whichever comes first).
In the case of an emergency, you will be able to remove your funds from a Locked Savings, but you will be penalized with a fee of 2% on the total balance in the Locked Saving at the time of withdrawal to your Koa Account. The same penalty fee will be applied on a withdrawal from the Locked Savings to your M-pesa, but will also include the standard Ksh 50 withdrawal fee.
Yes, Locked Savings offer higher interest rates.
The interest given on a “Locked Savings” will be up to 10% p.a. And is approximately 1% higher than a “Normal Savings”.
You have the option to decide how long you’d like your Savings to be Locked, however, the minimum amount of time for a Locked saving is 1 month. There is no maximum amount of time to lock your Savings.
Log into the Koa App
Choose the Savings Tab and finds the “My Savings” Product
Select “Create Savings” on the “My Savings” Product Screen
Enter the following details to create a Saving
i. Name of your Saving
ii. Profile Picture for your Saving
iii. Choose between the following Options
- Target Value
- Target Duration
- Frequency
You will then have the option to choose via the Toggle Switch whether you want to lock your Savings (i.e. turn it from a simple My Savings to a Locked Savings)
For compliance and safety reasons, you can only change your mobile number if you have not made any deposits.
Please reach out to our support team right from your app or by emailing hello@withkoa.com for help with this.
Please reach out to our support team right from your app or by emailing hello@withkoa.com for help with this.
Please note, that if we are required by law to retain your data, we shall communicate to you the ground(s) for retaining your data. In such an instance, we shall ensure that we restrict access to your data by taking special measures to archive and store such data safely and maintain strict confidentiality about your identity, until we are allowed to permanently erase your data. Read more about our Data Retention Policy
A beneficiary is a perA beneficiary is a person you nominate to receive your Savings in the unfortunate event of your demise. You may choose to nominate a next of kin, a spouse or partnerson you nominate to receive your savings in the unfortunate event of your demise. You may choose to nominate a next of kin, a spouse, or a partner.
You can add a beneficiary right from your Koa app. Here’s how:
Click More
Select ‘Account Beneficiary’
Add the details of your beneficiary
Hit Save
That’s it 🎉
Yes, they can. Simply add them as a beneficiary on your Koa app. If they do not have an identification number like a passport or National ID, you can omit this entry.
Yes. You can change or edit the details of your beneficiary by:
Click More
Select ‘Account Beneficiary’
Update the details
Hit Save
That’s it 🎉
Yes! Our new and improved referral scheme is up and running, which allows you and your friend to both earn KES 250.00 when you successfully complete the referral (T&Cs apply). Start referring your friends by following the instructions below:
If you have any questions you can contact the customer service team on hello@withkoa.com or via the in-app chat.
When you deposit on Koa, your money is passed on to regulated third party financial institutions who invest in regulated products such as collective investments schemes (Money Market Funds), fixed deposit accounts, shares and bonds that are publicly traded on the Nairobi Stock Exchange (Investment Products).
This diversification ensures that your funds remain safe and earn competitive interest.
You can make a deposit right from your Koa app.
Here’s how:
Tap on the Deposit button on the home screen.
Enter the amount (a minimum of sh.100)
Click on Transfer Funds
Enter your Koa PIN and confirm
An MPESA pop up will appear
Enter your MPESA PIN
That's it 🎉
You can deposit as little as Ksh 100 and up to your maximum daily limit on MPESA.
Top-up your savings at any time for free with a single click via MPESA through the Koa app!
Not just yet.
We’ve heard your feedback and are working on enabling this feature by later this year. Stay tuned for updates.
Not just yet.
We have significantly improved the deposit experience and removed all costs associated with making a deposit via our app.
Not just yet. Deposits can only be made via MPESA through the Koa app.
We’ve heard your feedback and are working on enabling this feature by later this year. Stay tuned for updates.
3 to 5 minutes to reflect (should be immediate)
You can make a withdrawal right from your Koa app.
Here’s how:
Tap on the Withdraw button on the home screen.
Enter the amount (a minimum of sh.100)
Click on Transfer Funds
Enter your Koa PIN and confirm
That's it 🎉
You should receive your withdrawal in a few minutes
Your withdrawal should arrive within a few mins; however, in the case that there are issues beyond our control with our transaction partners this can be further delayed.
Absolutely. With Koa, you will always have access to your money. If you choose to make a withdrawal from any of your goals, you can withdraw this money at any time and no interest will be forfeited or any penalties made against your account
You can ONLY initiate two withdrawals within a 24-hour window.
Not at all! All deposits made on Koa towards your savings are absolutely free.
Yes. Each withdrawal will attract a fee of 50sh. Please note: you can ONLY initiate two withdrawals in 24hours.
Not at all! We do not charge any fees on your savings, we only focus on helping you grow your money and achieving your financial goals. There are no hidden fees with Koa.
No, Koa does not charge any management fees.
Not just yet.
Koa is a technology company focused on helping you save and reach your goals. We make saving simple, seamless, flexible, and hassle-free.
This means that we are not able to offer you a digital loan but would like to enable you to save for the future.
Our team is working on getting the necessary licenses to enable us to provide this service for you in the future.
Not just yet.
We’ve heard your feedback and are working on enabling this feature by later this year. Stay tuned for updates.
Yes, you will automatically be sent a monthly statement to the email you have registered with the app.
We have designed the Koa app to make it easy for you to track your Savings goal and interest. Once you log in to your Koa app, you will see:
Your total Savings: The total amount you have saved on your Koa app.
Your earned interest: How much your money has grown on your total deposits.
Pending actions: These are upcoming actions based on your Savings, for example: 'transfer KSH 1,000 to your Emergency Stash'.
My Savings: This is a snapshot of how each Saving you have created is performing, how much has been saved, and the maturity date of those Savings.
Recent transactions: This is a section providing details of all your transactions including deposits, withdrawals, and interest applied whether successful or unsuccessful for full transparency.
We also send you notifications on your emails and registered phone number anytime a transaction occurs to ensure no activity on your Koa account goes unnoticed or unapproved by you. In the unlikely event that this happens, please reach out to us immediately to further investigate the occurrence.
For Android
Koa is compatible with all Android devices that are running Android version 6 or higher.
For iOS
Koa is compatible with all iOS devices that are running iOS version 13 or higher.
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