We started our journey in Tanzania a few years back to reach SACCOs and higher organizations to offer our innovative solution. We aimed to digitize the way people handle money and money transactions.
Today, we are proud to announce that we are now live in Tanzania with our Wakandi app. We have onboarded WASCO SACCOS (a test saccos together with authorities) and its admins to digitize their operations. We are also conducting training sessions with SACCOs across the country. The response we are getting from the members is overwhelming. In a few weeks, we will go live with the following SACCOs in Tanzania.
- Kutayba SACCOS (ready to go live)
- Shekilango SACCOS
- Ukonga SACCOS
- Ujirani SACCOS
“Wakandi system will promote saving discipline and creating trust among Credit union´s members and admins.” Mr Abdilah Mutabazi, Deputy Registrar Dar es Salaam.
Our app can help SACCO members to start using digital financial services, streamline operations of cooperative society, stay compliant with regulations, and make day-to-day operations easier.
Journey in Tanzania
Cooperative societies in Africa are moving towards digital transformation, providing unprecedented opportunities for us. Tanzania has been an integral part of the digitization journey. More than 5 in 10 adults (56%) in Tanzania are financially included, majorly using mobile money services. Millions of people are connected to various digital initiatives launched by the Tanzanian government.
We have been exploring the Tanzanian market to meet SACCOs and microfinance institutions. With the great initial response, we onboarded various SACCOs in our development phase. With their help and insights, we implemented additional functionalities and features to our app to offer better services in the market. Ushirika has been critical support to our organization. They promoted our system amongst various SACCOs and encouraged them to get on board.
Last year, we got our Payment Service Provider (PSP) license from the Bank of Tanzania. This placed amongst a few companies that work in the payment space. After some time, we announced the inauguration of our new office in Dar Es Salaam. It was a big milestone for us as it helped us to interact better with our clients and the local community.
A few months later, we signed a contract with the leading digital lifestyle company, Tigo Tanzania to support the payment in the app.
Espen Kvelland, our CEO at Wakandi Group, puts it this way, “When we started our journey in Tanzania two years ago, little did we know about how our journey in Tanzania would be. It has been a journey full of learning, iterations and a lot of fun.
Moving ahead
As we move ahead, we aim to bring more SACCOs and microfinance institutions under formal financial services with our app. We will enable better collaboration with MNOs and banks to build a financial system that is ready for the future.
If you want your SACCO to be a part of this digital transformation, you can send us an email at post@wakandi.co.tz. Our team in Tanzania will connect with you shortly.