Last updated: September 2026
This policy explains, in plain language, how Isikoqokoqo works, how we keep your money and information safe, and how we handle your personal data in line with the Protection of Personal Information Act (POPIA) of South Africa.
POPIA Compliant. Isikoqokoqo is registered with the Information Regulator of South Africa, and our Information Officer has been appointed in line with POPIA.
Isikoqokoqo is a savings platform that helps you set money aside in locked savings plans (called "piggy banks"). You choose a plan with a lock period of 3, 6, 9, or 12 months, pay a small one-time key fee to activate it, and then deposit money over time until the plan matures. Once a plan reaches maturity, you can withdraw your savings to your registered bank account. Your funds are held at a licensed sponsor bank — Isikoqokoqo is the app you use to manage your savings, not the bank that holds your money.
Before you can deposit money, we ask you to complete a quick identity check (Know Your Customer, or KYC). This means we collect your full name, South African ID number, date of birth, a copy of your ID document, and a selfie. We do this to make sure no one else can open an account in your name, to prevent fraud and money laundering, and to comply with South African law (FICA). Your account stays restricted until your identity is verified — this protects you and everyone else on the platform.
Your savings are held by a licensed sponsor bank (for example, Bidvest or African Bank), not by Isikoqokoqo itself. We never touch your funds directly. Deposits are processed through trusted, secure payment gateways (such as Paystack), and withdrawals are only ever sent to a bank account you have verified as your own. Every withdrawal goes through real-time bank account verification to make sure the money reaches the right person — and only that person.
We treat your personal information with the same care as your money. All data sent between your phone and our servers is encrypted using SSL/TLS. Sensitive details (like your ID number and bank details) are stored securely and only accessible to authorised, trained staff. We run regular security checks and have a plan in place for responding quickly if anything ever goes wrong. No method of storing or sending data is 100% secure, but we work hard to stay ahead of threats.
We only collect what we need to run your account and meet our legal duties: your name, South African ID number, email, phone number, date of birth, address, and bank account details; identity documents and a selfie for KYC; and records of your deposits, withdrawals, and savings plans. We also keep basic technical information (like device type) to keep your account secure.
We use your information to create and run your savings account, verify your identity, process your deposits and withdrawals, send you important updates (like when a plan is about to mature), prevent fraud, and meet our legal responsibilities under South African law. We never sell your personal information to anyone.
We only share your information with the partners needed to run the service: payment processors (to handle your deposits and withdrawals), the sponsor bank that holds your savings, identity verification providers, and regulators when the law requires it. Every partner is bound by strict confidentiality and data-protection agreements.
Under the Protection of Personal Information Act (POPIA), you have the right to see the information we hold about you, correct anything that is wrong, ask for your data to be deleted (where the law allows), object to how we use it, and withdraw your consent at any time. You can also complain to the Information Regulator of South Africa (www.inforegulator.org.za) if you feel your rights have not been respected.
You play a big part in keeping your account safe. Keep your login details private, never share them with anyone, and tell us straight away if you think someone else has accessed your account. We are not responsible for losses caused by someone using your login details without your permission.
We keep your information for as long as your account is open, and for 5 (five) years after you close it — this is required by South African financial law (FICA). After that, we delete what we no longer need to keep, unless the law says otherwise.
With your permission, we may send you helpful tips, new features, and special offers. You can switch these off at any time from your settings or by tapping "unsubscribe" in any email. Important account messages (like deposit confirmations and maturity alerts) will always be sent to you.
Isikoqokoqo is operated by ISIKOQOKOQO SAVINGS (PTY) LTD (Reg. No. 2026/592473/07), registered with the CIPC in South Africa. We are in the process of registering with the Financial Intelligence Centre (FIC) as an Accountable Institution and are building a Risk Management and Compliance Programme (RMCP) to meet our anti-money-laundering duties under FICA. Until that registration is finalised, we still run KYC checks on every member.
We may update this Privacy Policy from time to time. If we make important changes, we will let you know by email or in the app. The "Last updated" date at the top of this page tells you when it was last reviewed.
If you have any questions about this Privacy Policy, or you want to exercise your data-protection rights, please contact our Information Officer through the Contact page in the app. You can also lodge a complaint with the Information Regulator of South Africa at www.inforegulator.org.za.
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