A new App using artificial intelligence, Mipango, has been launched in Tanzania and claims to provide financial awareness, deepen financial literacy, and aims at reducing self-inflicted debts by over 60 percent.

The Swahili-language App will provide free personal financial management to Tanzanians with free financial advice, and track various forms of income and expenses.

Mipango, although offering highly valuable services, faces an uphill battle in a country where tracking finances is not a commonplace and most transactions are still done in cash. That being said, any effort made to raise awareness of the great importance of tracking finances is commendable.

The focus on Swahili as the UI will allow the developers to cater the app to their users in Tanzania but may limit future expansion to regions outside East Africa — not necessarily a bad thing as can be seen from our latest report on Jumia, a company that seemed to have struggled with both.