Leveraging on technology to spur productivity in SACCOs

Cynthia Wandia, Co-founder and CEO of Kwara.

Advancements in technology have disrupted many sectors of the economy leaving a number of companies to adapt and embrace the digital transformation that come with such disruptions so as to effectively stay afloat in business and offer effective and relevant services to consumers.

Close to two decades ago, banks dominated the financial lending space with people taking days or even months before they could secure loan approvals. The dawn of mobile money in Kenya dictated a massive change in tact and strategy in the banking sector as many small players have today ventured into the scene to offer easy and affordable loans thus essentially eating into a massive share of this resource that the banks had enjoyed for the longest time.