We are thrilled to announce that Wakandi has signed contracts with five (5) savings groups and financial institutions in Tanzania to launch our financial inclusion system, CAMS or Credit Association Management System. The solution will be used by thousands of SACCOs and other informal financial groups (IFGs) in Tanzania to offer better financial services to their members.
As Wakandi moves ahead to the final phase of development of CAMS, signing contracts with these financial groups could be a significant advantage for the successful launch of our solution. Some of the most popular ones who agreed to pilot with Wakandi are – MWASHITA SACCOS, KKKT ARUSHA ROAD SACCOS, MUCOBA BANK and KAGERA MICROFINANCE.
Wakandi aims to collaborate with these savings groups and organisations to enable effective savings and loans management. Our solution can help them to –
- Digitalize their existing manual processes like depositing funds and obtaining loans
- Enable digital payments through mobile wallets.
- Conduct reconciliation easily
- Maintain record books and avoid human errors
As Wakandi explores deeper into the market and collaborates with more and more IFGs, our solution can easily penetrate into the urban and rural areas in Tanzania. Digitalizing manual systems will not only make the processes smoother and quicker but will also eradicate the risks involved with cash transactions.
CAMS is a simple and intuitive application that can help IFG members keep track of their funds, maintain their finances, know how and when to contribute, and check their fellow members.
Wakandi’s Key Account Manager and Co-founder, Sele Mduda feels highly optimistic about what Wakandi can achieve as we collaborate with these financial groups. Sele says, “CAMS will speed up the inclusion of informal financial groups into the formal way, whereby, banks, government and other economic planning institutes will be able to collaborate better, conduct good governance and prevent money-related frauds especially in SACCOs in the agricultural sector of Africa.”
Wakandi is all set to launch the solution in the coming months. The team feels inspired and confident after the great market response it received in Tanzania and South Africa. It gives Wakandi an opportunity to achieve the mission of offering cashless experience in Africa.