Wakandi secures Payment Service Provider license in Kenya
We are excited to announce that Wakandi has secured a payment service provider (PSP) license from the Central Bank of Kenya (CBK). The license enables Wakandi to facilitate payments and optimise technological experience for the Cooperatives, such as SACCOs in Kenya. This development follows the company’s expansion into Kenya and the launch of CAMS or Credit Association Management System.
The PSP licence places Wakandi with a select group of others that operate in Kenya’s payment industry. For the team, obtaining the PSP License from the Central Bank of Kenya is crucial to moving forward and toward our objectives.
What Wakandi CAMS offers to the people in Kenya?
CAMS as a solution will be used by thousands of SACCOs and other Cooperatives in Kenya to offer better financial services to their members. CAMS will accelerate the formalisation of informal financial groups, enabling banks, governments, and other economic planning organisations to work together more effectively, practise good governance, and reduce financial fraud, particularly for cooperatives.
Wakandi is eager to make an effect and assist people in joining the financial system. Our solution can quickly spread throughout Kenya’s urban and rural areas as the company continues to delve deeper into the market and work with more IFGs. Automating manual operations will reduce risks associated with cash transactions while also facilitating smoother, faster processes.
Wakandi is all set to launch the solution in Kenya in the coming months, if you want to be among the first SACCOs to be onboarded you should get on the waiting list by signing up on the form here: