« Kulu »: the payment revolution in Guinea 💳

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Financial inclusion is at the heart of the Guinean government’s priorities. The launch of « Kulu, » a new electronic money solution, marks a step forward in the digitization of the country’s financial services.

An official launch in grand style 🎉

On Friday, January 24, 2025, the company Digital Wallet-Guinea (Diwalgi S.A.) officially unveiled the Kulu-Guinea application during a ceremony in Conakry. The event, attended by public authorities and economic players, demonstrates the country’s commitment to modernizing its financial services.

At the opening of the ceremony, Erick Benjamin Koll, CEO of Digital Wallet Guinea, highlighted the transformative impact of this application.

« Kulu is much more than just an application. It is a digital transformation lever that will improve financial transactions and strengthen financial inclusion in Guinea. »

Its ambition is to offer a reliable and accessible alternative to traditional financial channels, particularly for unbanked populations.

A solution for all Guineans 🌍

Indeed, « Kulu » presents itself as an innovative solution that meets the needs of various user categories. Whether for students, entrepreneurs, merchants, or informal workers, this application promises practical and secure services.

Guinea’s Minister of Posts, Telecommunications, and the Digital Economy, Rose Pola Pricemou, welcomed this initiative. She considers this application a step forward toward a connected and digitally competitive Guinea. She also reminded that the government aims to double the digital sector’s contribution to the national GDP by 2030.

Furthermore, Billo Talonto, head of the « Kulu » technical team, emphasized the platform’s ease of use and security guarantees. With features tailored to local realities, Kulu aims to become a key player in electronic payments in Guinea.

A tool for the national economy 📈

The launch of « Kulu » is part of a broader digital transformation dynamic. The Guinean government, through its strategic plan « Simandou 2040, » is betting on digital solutions to modernize the economy.

This project aims to :

• Reduce dependence on cash transactions.
• Improve financial traceability and combat fraud.
• Encourage greater financial inclusion, especially for populations living in remote areas.

During the ceremony, Dr. Karamo Kaba, Governor of the Central Bank of Guinea, stressed the importance of digital finance.

« With ‘Kulu,’ we are taking a decisive step towards a Guinea where every citizen can easily access financial services, regardless of their place of residence. »

How does it work? ⚙️

The « Kulu » application enables simple and secure financial transactions. To use it, the user must first create an account by registering with their phone number or a unique identifier. Once the account is activated, several features become available:

• Money transfer: send and receive money via a QR code, a phone number, or a Kulu ID.
• Digital payments: pay for purchases, services (transport, restaurants, hairdressing), or even bills directly from the app.
• Salary management: businesses can pay their employees through the platform
• Enhanced security: each transaction is protected by advanced protocols to ensure confidentiality and prevent fraud

« Kulu is a partner for all moments. This platform not only allows money transfers and bill payments but also provides access to various financial services securely » said Roshan Vaswani, Chairman of the Board of Directors of Digital Wallet Guinea. Thanks to its intuitive interface, Kulu simplifies access to financial services and promotes the inclusion of unbanked populations.

Your opinions matter !!!
Will Kulu be able to establish itself against other mobile payment solutions already on the market? Let us know in the comments 🙂‍↔️

Sources :We are tech africa, Guinee news