Kwara boosts Saccos mitigation of Covid-19

From left-Ollin Sacco CEO John Gathige, Symon Mburia, Deputy Commissioner for Co-operative Development and Kirinyaga County Cooperatives Executive member Dr.Margaret Kibuchi during SACCO's AGM early this year. Ollin Sacco is one of the Kwara clients.

COVID-19 is accelerating SACCOs’ digital transformation.

Covid-19 caught many businesses by surprise. One of the most affected sectors by the lockdown and social distancing measures implemented by the government was the SACCO sector, since many of their operations and activities were conducted in person. The level of technology adopted varies from SACCO to SACCO, according to the cooperative size, structure and needs.

However, the lack of automated processes and services impacted not only the business performance itself but also all the people who benefit from the savings and credit products.Kwara, a fintech company founded in 2018, is offering SACCOs a user-friendly digital solution to minimize the technology adoption variation between SACCOs. Their platform empowers cooperatives to embrace the digital transformation era that brings efficiency and effectiveness to businesses and customers. As a result, SACCOs will be able to better serve their customers and include more people that are currently unbanked, supporting them to become financially healthy.

Deposit-taking and loan-fulfilment must continue, even with social distancing measures, so SACCOs can continue to support its members andavoid financial instability.Kwara’s platform now operates on two different fronts: one that addresses SACCOs staff needs to perform daily operations digitally and the other that addresses SACCOs members needs to keep track of their finances and transact without having to go to the physical branches. SACCOs members don’t need to go to the office and fill forms- they can do it remotely through their preferred device. For SACCO staff, they can visualize and manage members’ finances more clearly in one place.

Kwara’s biggest differentiation is the customer support service. Many SACCOs have adhered to other software solutions, but staff and members were not properly trained to fully benefit from what was offered. Kwara offers a personalized, open communication channel for all staff and members to ask questions, understand all benefits and learn how to use all functionalities. With engaging webinars, in-person training and executive certification, SACCO staff are truly empowered to embrace digitization especially during these times. Since the company is customer-centric, all features are developed based on direct feedback on SACCOs staff and members’ needs.

To learn more about Kwara and how they are supporting SACCOs on their digital transformation during the COVID-19 crisis, visit their website[2]. A free pilot period is available to minimize the financial impact to SACCOs affected by the crisis.

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