Remember that age old practice of saving money in a small, sealed tin of milk or a piggy bank? Yes, this is coming back to us as a quick way to do our savings, courtesy of a young female entrepreneur, Onyinyechi Chikere and her newly launched Piggy bank service by iTego Fintel Hub over the weekend.
This dream begun in Onyinyechi’s second year while studying Forestry at the University of Uyo, Akwa Ibom State in her quest to get herself engaged is some form of business and she kicked off a thrift-collecting business for students and other business owners called Kpako Vault Enterprise. She was able to get 328 students and 28 businesses/corporate brands to save over a period 2 year (2015-2017).
In August 2017, the business went down due to theft issues and this led to unbalanced accounts in the bank and with a debt of over N200’000, which Onyinye solely paid for. With that situation, she had to lay low and re-strategize this gave birth to Fintel Hub and the iTego Piggy Bank.
iTego Fintel Hub is a financial education platform targeting students, start-ups/businesses and even children. It will also have monthly business series and engagements for students and a ‘Save-A-Token’ campaign for kids soon.
“I believe people will be happy with the steps they have taken to save money through our Piggy Banks. This can also help people to fund their small businesses and rather not wait for huge sum of monies before they start up, plus teach them financial discipline”, Ms. Onyinye stated at the launch held at Akwa Ibom’s foremost Business Hub and Accelerator System, The Root Hub.
The piggybanks are designed in various shapes, sizes and are produced in Nigeria. Its users do not have easy access to opening the box at any given time, hence will need to take it back to iTego Fintel Hub who will help open it and seal it back. This is help them have discipline and learn the saving culture.
Our service is also aid people save to fund their start-ups instead being too dependent on banks and waiting for investors which might disappoint them.
The event also had in attendance entrepreneurs, business owners and the student community. Many were also opportune to win free piggybank.
Her Kpako Vault still remains and will handle the savings and thrift collections service. See more pictures from the event.