We are excited to announce that Wakandi is moving ahead towards the final phase of development of the Credit Association Management System (CAMS). As you are all aware that with CAMS, Wakandi aims to offer a financial inclusion system that enhances the financial services.
In order to serve the SACCOs and IFGs (Informal Financial Groups) to the best of its capabilities, Wakandi had collaborated with Kagera Microfinance and KKKT Arusha Road SACCOS Ltd. Wakandi CAMS has been designed in close collaboration with different SACCOs, VICOBAs, and microfinance institutes so it speaks directly to the needs of financial groups and resolves their current challenges.
Working with the communities has been very valuable to us as we received constant and positive feedback. With their help and insights we have implemented additional functionalities and features that CAMS needs in order to offer better service and cater to the market.
In the longer run we believe that the partnership will help us explore deeper into the market and enhance the features of CAMS to easily penetrate into the urban and rural areas in Tanzania.
Millions of people in Tanzania count on SACCOs, microfinances, and other IFGs to access financial services. These savings groups majorly rely on cash and manual processes to carry out their operations leading to several challenges in terms of record-keeping, chances of theft, and management of finances. Digitizing manual systems with CAMS will not only make the processes smoother and quicker but will also eradicate the risks involved with cash transactions.