Village banks embrace app – The Times Group Malawi

Post was last updated: October 25, 2019

SAUZANDE—The app is gaining popularity

A local firm, Angle Dimensions, has said most village banks in the country are embracing digital banking concept, a move rated as ideal towards formalising the sector.

The firm recently developed a mobile application dubbed Khusa, which allows groups to save and access loans through digital wallets.

Angle Dimensions Chief Technology Officer, Henry Sauzande said over 50 village bank groups are using the application.

He said the app seeks to expand formal financial services to rural savings and loan groups by addressing challenges groups face in managing and tracking members’ records.

“Adoption has been slow and steady but the feedback from those that use it has been positive so far. In terms of security, the app is protected by pin,” Sauzande said.

He further said the idea was triggered by the various challenges they identified in the market centered on miscalculation of finances or losing track of the manual ledgers that kept the source of the truth for the group.

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