In an era of rising inflation, the Jollof+ app by Baobab Nigeria emerges as a game-changer for financial inclusion. Launched in May 2024, this innovative savings platform, powered by Baobab Microfinance Bank, has quickly gained traction, amassing over N1.3 billion in savings within just 64 days.
Licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), Jollof+ offers a secure, user-friendly way for Nigerians to combat inflation and build wealth.
High-interest savings with Jolloflock and Jolloflex
Jollof+ stands out with its competitive interest rates, designed to preserve and grow users’ purchasing power. The Jolloflock feature allows users to lock funds for medium- to long-term goals, earning an impressive 21.6 percent net interest per annum, paid upfront.
This time-deposit option is ideal for disciplined savers aiming for significant returns. For those needing flexibility, the Jolloflex wallet ensures even idle funds earn 10 percent net interest annually, making it a versatile choice for everyday financial needs.
These high-interest savings options position Jollof+ as a powerful tool to beat inflation.
Targeted savings with Ajo+ and Babybox
The app caters to diverse financial goals through its Ajo+ and Babybox features. Ajo+ enables individuals or groups to save toward specific targets, such as rent or car purchases, offering 16.5 percent net interest per annum.
This feature draws on Nigeria’s traditional group savings culture, promoting financial discipline with a 40% penalty for early withdrawals. Meanwhile, Babybox empowers parents to save for their children’s future, like education or healthcare, with a 15.5 percent net interest rate.
These tailored savings plans make Jollof+ a go-to platform for goal-oriented savers.
Security and accessibility backed by CBN
Security is a cornerstone of Jollof+, with state-of-the-art encryption and BVN-linked transfers ensuring funds remain safe. As a CBN-licensed microfinance bank, Baobab Nigeria brings over a decade of credibility, operating 38 branches across 16 states.
Unlike many fintechs, Jollof+ combines digital convenience with physical branch support, allowing users to resolve issues in person.
Available on Google Play and the App Store, the app’s intuitive interface simplifies account creation, KYC verification, and savings automation, appealing to tech-savvy youth and seasoned savers alike.
How Jollof+ is empowering Nigerians against inflation
Jollof+ is more than a savings app; it’s a movement to empower Nigerians to become their own bankers.
With inflation hitting 33.69 percent in April 2024, the app’s high-interest offerings help users stay ahead of rising costs. Acting CEO Eric Ntumba emphasizes that Jollof+ fosters good savings habits, particularly among young Nigerians, by providing convenience and transparency.
The app’s rapid success underscores its role in promoting financial security and inclusion, aligning with Baobab’s mission to serve underserved communities.
Why choose Jollof+ by Baobab?
Jollof+ redefines savings with its blend of high interest rates, flexibility, and security. Whether through Jolloflock’s locked savings, Ajo+’s group goals, Babybox’s future planning, or Jolloflex’s accessible funds, the app meets varied financial needs.
Backed by Baobab’s CBN-regulated expertise, Jollof+ is a trusted partner for Nigerians seeking to beat inflation and secure their financial future. Download Jollof+ today and start your journey to smarter savings.