Wakandi Group has joined hands with GamPay Solutions Limited to offer its innovative solution for credit and saving associations in the Gambia. Both companies have come into a partnership and combined their efforts to bring the Credit Association Management System (CAMS) that can be used by Informal Financial Groups (IFGs) and other associations to deliver better services. The CAMS system will be backed by Wakandi’s DLT-based financial infrastructure to offer better security and transparency.
Credit unions in the Gambia play a crucial role in the economic development and financial stability of people and communities they serve. They offer access to affordable financial services to their members and opportunities to be self-sufficient. They are highly popular amongst the people as they tend to be more flexible and inclusive. According to The Point, there are a total of 76,510 credit unions in the country. This brings an ocean of opportunities for both companies and this new partnership.
With this new system, Wakandi aims to capitalize on the vast financial market of the Gambia. The system can help solve numerous challenges faced by credit unions in terms of managing loans, record keeping and other factors that impact the success of a credit union.
GamPay is a leading IT solutions provider, offering innovative IT consulting to financial institutions across Africa. The company is recognized as the preferred provider of payment solutions and IT services amongst private, public, and non-profit organizations.
Wakandi Group AS is a Norwegian company founded with an aim to improve how the money is handled by African societies. Wakandi offers a DLT-based financial infrastructure for banks and financial institutions to transfer value and share data in a secure and transparent manner. Businesses connected to the network can also leverage DLT and build innovative financial applications.