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How can CAMS help savings groups against COVID-19 and future pandemics?

As we fight against COVID-19, the importance of digital payments has gone high. It is even more essential to send money digitally and avoid touching cash as they might be infected.

Banknotes may be spreading the new coronavirus so people should try to use contactless payments instead. — World Health Organization


Technology has enabled fast, secure and contactless payments in many African countries, including Tanzania, South Africa, and The Gambia. Millions of people today are using digital wallets such as M-Pesa, Afrimoney, MTN MoMo and T-Pesa, to send money and make payments. 

Like payments and savings services, digitalizing informal financial groups (IFGs) in African countries is more secure and efficient. Millions of people associate with such savings groups to avail their financial services. Bringing technology to these savings groups can reduce cash transactions and offer several benefits as we live in a pandemic. Wakandi aims to offer savings groups a digital and simplified solution, called a Credit Association Management System (CAMS), to effectively manage their loans and savings services. 

Technology against COVID-19 

CAMS aims to make it easier for informal financial groups and their members to transfer their contributions and apply for loans through their mobile wallets. This way, the money can be sent to any member in less time with better security, without needing to handle cash. The solution offers basically three modules to provide its services:

  1. Savings module: Lets the members add monthly/weekly savings (contribution) using their preferred mobile money wallet.
  2. Lending module – Provides the possibility to apply for a loan digitally, and also get the money directly into the member’s preferred mobile money wallet.
  3. Administration module – Gives the administrator of the IFG an overview of all activities done by the group members. They can manage savings, loan approval and rejections, record keeping, and money other functions through their system. 

With the system in place, IFGs and their members would be able to conduct all transactions through their mobile phones. They can also receive relevant notifications and send contribution online, avoiding any physical meetings.

Wakandi is ready to launch CAMS in Tanzania in collaboration with savings groups and banks. Check out our blog here.

It can be a game-changer in South Africa where people struggle to move out of their houses due to COVID-19. That said, most of the processes will be handled effectively through mobile while staying at home. Consequently, It will prepare the public to face future situations like the current pandemic. 

CAMS aims to boost financial inclusion by bringing digital processes and connecting savings groups to formal banking services.  

Click here to read more about CAMS and how it aims to boost financial inclusion in Africa. 


The ability of group members to send and receive money through mobile is important for the modern economy. As many markets, including Tanzania, now have a sizable number of people with active mobile wallets, it is the time to adopt digital solutions and move towards a cashless society. With CAMS, Wakandi can help create an ‘included economy’ where formal and informal financial companies can work together and offer innovative services. Our goal is to enable groups to gain better control over their finance and a seamless way of working.