In a move aimed at widening access to household assets, ICONA has entered into a partnership with MiKashBoks, a digital social finance platform designed to make group saving and lending easier and safer. The collaboration brings together a leading appliance retailer and a regulated financial technology company with a shared goal: enabling ordinary Sierra Leoneans to save gradually and acquire products they once considered out of reach.
The agreement was described by both sides as a step toward practical empowerment, especially for low- and middle-income earners.
Speaking at the signing ceremony, ICONA’s marketing manager, Kai Saquee, called the moment historic for both institutions. He observed that Sierra Leone’s business landscape is evolving and that companies must adapt to serve a broader market.
He stressed that initiatives of this nature should not focus only on high income earners. Petty traders, university students, office workers, and other everyday citizens also deserve access to quality appliances and structured pathways to ownership. The partnership, he said, reflects a commitment to include those who are often overlooked in traditional retail and finance models.
MiKashBoks, widely known as MKB, operates as a digital platform that allows individuals and groups to save money securely while also accessing lending features. The company is regulated by the Bank of Sierra Leone, and customer funds are held with Ecobank, offering an added layer of financial oversight and credibility. Users can deposit funds through mobile money services such as Orange Money and Afrimoney, making participation accessible even to those without conventional banking access.
Shalton Massally, Chief Technology Officer and Founder of MiKashBoks, described the partnership as timely. He noted that while ICONA has introduced innovation into the retail market, MiKashBoks’ intervention focuses on helping people build financial discipline and literacy.
According to Massally, many petty traders and informal workers struggle to manage irregular income. The platform provides them with a structured way to save small amounts consistently. Over time, those savings can accumulate into enough capital to purchase items such as freezers, washing machines, or televisions.
“That is financial inclusion,” he said, emphasizing that inclusion is not only about access to credit but also about empowering individuals to plan and achieve tangible goals.
Joshua Kanu, Business Development Manager for ICONA, drew a parallel between the digital model and traditional savings culture in Sierra Leone. He recalled that households once relied on simple cash boxes to set aside money for specific purposes. In his view, MiKashBoks represents a modern extension of that familiar practice.
“At ICONA, we have a leader who listens to local realities,” Kanu said, explaining that this openness made the partnership possible. He added that the company is prepared to work closely with MiKashBoks on joint marketing efforts to ensure that the initiative reaches the intended audience.
Under the “save to buy” feature introduced through the collaboration, customers can select a product from participating vendors, including ICONA, and begin making incremental payments through the platform. Once the agreed amount is fully paid, the product is delivered to the customer.
This model differs from conventional credit arrangements. Instead of borrowing first and repaying later, users accumulate funds toward a specific purchase. For many households wary of debt, this approach offers a sense of control and security.
Jayesh Pardhi, Country Director of ICONA, framed the partnership around a shared national vision. He thanked those who facilitated the agreement and said both organisations are aligned in their desire to support the people of Sierra Leone.
He noted that the digital platform allows even those with limited financial knowledge to save gradually toward clear objectives. ICONA, he added, will monitor the progress of the initiative and work with MiKashBoks to strengthen both the partnership and the platform over time.
Read Also: ICONA London Holds First-Ever Staff Training and Recognition Programme
Murtala Kamara, who played a role in bringing the parties together, said the initiative addresses a common struggle among customers. For many families, purchasing a flat screen television, freezer, or washing machine in one payment is not feasible. By saving gradually through the platform, these same customers can now realistically aspire to own such items.
Kelvin Logan, Customer Success Lead at MiKashBoks, said the company’s broader aim is to contribute to a more cashless Sierra Leone. Beyond individual savings, the platform supports group savings schemes and allows users to earn interest on their deposits.
The new feature expands these services by linking savings directly to product acquisition. Logan emphasized that security is central to the platform’s design. With regulatory oversight and funds safeguarded through established financial institutions, users can save with confidence.
At its core, the partnership represents a practical response to everyday economic realities. In a country where many earn income in small amounts and at irregular intervals, the ability to save bit by bit toward a meaningful purchase can transform aspiration into achievement.
For a petty trader hoping to preserve goods in a freezer, a student wanting a smart television, or a family seeking to modernize their home, the collaboration between ICONA and MiKashBoks offers a structured path forward. What once seemed unattainable may now be within reach, not through sudden wealth, but through steady, disciplined saving supported by digital tools.
If implemented effectively and embraced by the public, the initiative could serve as a model for how retail and financial technology can work together to expand opportunity and strengthen economic participation across Sierra Leone.
