Power Financial Wellness, a Kenyan fintech startup has partnered with FoodFor Education to provide the staff with personal finance skills
Under the agreement, Power will also provide Food For Education staff with access to their earned wages, insurance services and long-term credit facilities at an affordable rate.
Since 2020 when it began operations, Power has built a fully digital platform connecting companies and their workforces to a holistic set of digital financial services. Workers are able to access their earnings at any time, withdraw funds to their M-Pesa or bank, save and invest instantly to their preferred investment option, qualify for longer-term loans, and enroll in insurance products, all from the comfort of their phone.
Power’s unique service offering will enable Food for Education to empower its workforce, effectively allowing them to sign up for services on Power and plan for their future.
Power CEO Brian Dempsey said, “We are inspired by the mission of Food For Education to provide nutritious meals to primary school children in Kenya. We are honored to be able to connect with and support the workforce that have delivered over 10 million meals! The Power solution helps to deliver financial health so that Food for Education staff can reduce finance-related stress and improve the quality of their lives!”
The Food for Education People Team are able to onboard their employees with ease, thanks to Power’s user-friendly online interface, allowing the management the option to choose the modules they would like to activate for their employees and the restrictions that each of their employees can access. Each eligible employee will then receive a personalized credit limit from Power, which they will be able to access and withdraw directly to their M-pesa, bank account or even use it to pay their daily utilities.
Food for Education is a leader in providing meals to primary school-going kids.
“Since partnering with Power, we have been able to provide our staff with a quick and convenient way to access secure short and long-term credit facilities. The ability to access secure loans has gone a long way in further empowering them to continue supporting their livelihoods.’’ Said Ceverene Mureithi, the Head of People at Food for Education.
She added, “The Power team is very responsive and has been with us every step of the way, which has made our experience really great. The feedback from our staff so far has been very positive and we are very excited about this continued partnership. We are definitely keen to see what else Power has in store for us”