Kenya, and by extension, Africa, is hurting.
Behind the headlines and political noise lies a quieter heartbreak: a generation of highly trained, and highly educated young people with nowhere to go. As of 2024, youth unemployment sat above 67%, one of the highest in Africa. Every year, hundreds of thousands of graduates enter a job market that absorbs only a small fraction of them.
Households are buckling under debt. Digital loans, once hailed as a lifeline, have turned predatory, trapping millions in cycles of borrowing and default. According to the Central Bank of Kenya, over 20% of digital loan users fall behind on repayments, for debts as low as KES 300.
But in the middle of this crisis, something remarkable is happening. Kenya has ushered in a historic moment; new regulations now allow retail investors to participate in the NSE with as little as KES 100, less than a dollar; and in the neighbouring Rwanda, a licensing passport framework enabling cross border operation for financial organisations in Rwanda and Ghana was signed by the Bank of Ghana and the National Bank of Rwanda.
For the first time, wealth-building is no longer a preserve of the elite. The doors have finally opened. Coinscentric was born for this. Not as another fintech app, or as a budgeting tool, but as a national intervention. A Solution Built for ME, YOU, THEM.
Coinscentric’s mandate is to empower people understand their money, take control of it, and grow it, regardless of their income level. By employing expenditure tagging, users have a front-row-seat to exactly where their money goes and how their financial personnas affects their day-to-day, and their future. Users are able to gain clarity, confidence, and direction.
Tackling the Herculean Task of personal finance.
Coinscentric is built on three pillars;
- Financial Literacy at Scale.
Coinscentric makes available, mobile, easy to consume literary material, co-created with leading financial advisors; to shrink the national financial illiteracy from the whopping 61 percent. - Smart Money Habits, and Behaviour Change.
Desensitization of money is brought to the forefront by visualization of income and expenditure. The imbalance of the two, coupled with money personas has a direct effect on long-term behaviour
change and of better, smarter habits. - Fair, Non-Predatory Access to Credit and Investment.
In partnership with players in the financial space, Coinscentric’s trailblazing derisking of would-be-debtors, and improving access to fairly priced credit, and establishing a non-restrictive marketplace for wealth building.
A Communal Movement, Not Just a Product.
Coinscentric thrives on community: peer groupings, accountability circles, and shared financial journeys. Money is emotional. Money is cultural. Money is communal.And that’s why Coinscentric is too. Friends, family, and entire social circles learn, and together begin building collective wealth, not just individual prosperity.
The Hard Truth About Raising Capital in Africa
While Africa has the youngest population in the world, with millions urgently in need of tools to help them save, invest, and borrow safely; raising capital for a mission driven fintech is an uphill climb. Coinscentric was designed and built to include those disenfranchised by traditional financial systems. However, in a world where most financiers want fast monetization, its delayed commercialization model is a label that’s a showstopper.
The economic realities, income cycles, risks, and margins are fundamentally different in Africa than in other markets. A startup serving Global North users can scale on credit, whereas a startup serving everyday Africans must scale on trust, patience, and cultural truth. Yet funding expectations rarely adjust for this.
A Call to Visionaries.
Coinscentric is not just timely, and necessary; it’s a financial foundation for people who have long been counted out of opportunity. As Kenya, and Africa stand at an economic crossroads, Coinscentric offers a path that is fair, inclusive, and data-driven.
We now call on: Impact partners, Financial institutions, and Individual Contributors to join us. With your support, we can transform the financial landscape.