The informal financial sector in Uganda is fast growing. It is ready to be transformed into a landscape driven by technology and innovative solutions.
Digital financial system for cooperatives
The Wakandi app is designed to offer formal financial services to cooperatives and microfinance institutions in Africa. It helps them to digitize savings and loan management, making their daily operations accurate, safe and quick.
Aligning our work with UN’s Global Goals
Wakandi is working towards becoming a global leader in creating equal financial opportunities. On the road to achieving this, we recognise we have a responsibility to take into account the impact our business has and can have.
Find us at your preferred location
Since implementing Wakandi, we've witnessed a significant positive change. Transparency is now by design, providing our members with a sense of security. Just this morning, I approved three loans without any hassle. Our SACCOS' rapid growth is largely due to the digital system. In fact, it has become our main recruiting tool. Previously, we could only process two to three loans per month, involving cumbersome check writing and multiple signatories. But now, with a fully digital process, we effortlessly handle loan volumes ten times larger than before.
EY is assisting Wakandi in assessing tax, legal, and strategy aspects in addition to having built the global part of the company with an accumulative structure and government.
The system is well-developed and functioning. It will help to analyse financial performance of the SACCOS and rectify identified anomalies.
Insights and Blogs
Wakandi launched the Credit Association Management System (CAMS) as a financial management system for cooperatives in 2022. CAMS aims to digitalize management and accounting processes for...
The financial year closing for cooperative societies is near. It is when their management committee prepares financial accounts to give a true and fair view of their financial position. They also...