Wakandi and Airtel Money join hands to digitize Uganda’s informal economy
Wakandi has been moving at a rapid pace to digitally transform the informal economy in Uganda. On this journey, we are joining hands with organizations that believe in our vision and enable us to achieve it.
We are thrilled to announce that Wakandi Uganda has joined hands with Airtel Money Uganda to bring the power of digital transactions to savings and credit unions. The partnership aims to foster financial inclusion and transparency in the informal economy.
Moving ahead, there will be a direct end-to-end integration between the Wakandi app and the Airtel Money wallet. This will enable credit unions to use Wakandi to make day-to-day transactions with their Airtel Money wallets. They will be able to use Airtel Money to:
- Make weekly/monthly contributions to their respective SACCOs and groups
- Get loan amount directly to their wallets
- Use Airtel Money wallets to repay their loan amount
- Bring transparency and accountability to their group
This partnership was announced during the recent event hosted by Wakandi in Kampala, Uganda. The event was graced by many esteemed organizations including, the Ministry of Trade, Industry, and Cooperatives, Bank of Uganda, The Hunger Project Uganda, UCSCU, AMFIU, Norwegian Association of Disabled, MTN, and CBS PEWOSA.
Addressing all the respected guests, Mr Espen Kvelland, CEO at Wakandi Group AS said, "The purpose of this collaboration is to transform the financial landscape in Uganda by transforming the informal economy."
"Airtel Money wants to solve the challenges of financial inclusion through partnerships like these and financial technology advancements like the open API."
- Japhet ARITHO, MD, Airtel Mobile Commerce (U) Ltd.
The partnership between Wakandi and Airtel Money Uganda signifies a crucial milestone in our pursuit of facilitating financial inclusion and digital transformation in the informal economy. The upcoming months hold the potential for better transparency and accessibility of financial services for credit unions. We believe such partnerships will help us achieve our objective of bringing equal financial opportunities to the country.