As part of its plans to improve its services, Malava Financial Services has put in place stratehies aimed at digitizing its service to enable efficient service delivery.
During its 16th Annual General Meeting held recently, the financial institution announced the introduction of mobile financing as one way of quickly and effectively serving its members.
The Chief Executive Officer (CEO) of Krep Fedha Services, who was represented by its Information Technology (IT) manager Jeremiah Kiprono, revealed that due to the growing numbers of members, there was a need to improve their services through upgrading their systems to be on par with other financial institutions in service delivery.
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“We have partnered with Malava Financial Services, a community-based organization, to make our services easily available through mobile banking that will also ease mobility and congestion, and we will be paying our loans and also allowing our members to check their accounts via their mobile phones by the start of September this year.”
The KFSA regional manager, Gerald Abele, stated that they were a management institution servicing Malava Financial Services CBO and had also partnered with Sidian Bank, where FSA had invested its finances.
The management assured members that their finances were safe. It stated that FSA was going to be a service bank to serve Malava and its environment on financial matters and should be fully supported.
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The Malava branch manager, Mukhwana, urged the members to operate within the FSA stipulations to avoid defaulting, leading to auctioneering.
He said that there was a need for each member to recruit new members to enable the bank to steady its growth.
He, however, highlighted poor loan repayment as one of their main challenges being witnessed, as well as failure by members to save in their accounts.
By Wakhungu Andanje
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