The Jollof+ app, a digital savings option from Baobab Microfinance Bank, allows users to earn up to 24% on their savings, with the goal of encouraging financial inclusion and helping Nigerians develop a savings habit.


Speaking at the product launch in Lagos, the bank’s acting managing director, Eric Ntumba, referred to the Jollof+ digital savings offering as a state-of-the-art savings tool designed to lessen the damaging effects of inflation on Nigerians’ savings.

The nation’s inflation rate has been rising steadily, and it hit 33.69 percent in April of this year. “Jollof+ Plus offers high interest savings options to help users fight inflation.” The value of savings is impacted by inflation, so Jollof+ provides competitive interest rates to help users boost



According to him, customers can get up to 24 per cent interest on their savings, of the highest offerings in the Nigerian market, whilst providing individuals and families with easy access to high interest savings accounts fostering financial growth and security.


He noted that the offerings which range from Jollof Flex, JollofLock, Ajo and Babybox ensures that customers can manage their financial activities seamlessly whilst tracking the progress of their savings habits.


Explaining the offerings, Ntumba said the JollofLock allows users to lock their funds for a specified period, earning higher interest rate compared to regular savings accounts. The offering which pays interest upfront helps users maximise returns by committing their savings for fixed durations.



Ajo+ is a target savings tool that encourages financial discipline and lets users save either individually or collectively to reach a goal while earning up to 18%. Through the Babybox feature of the app, users can earn up to 17% interest on their savings for their children’s future.


SOURCE:https://brandspurng.com/2024/05/31/baobab-mfb-introduces-jollof-to-combat-inflation/