Kampala, Uganda – Ensibuuko is excited to announce its partnership with Mercy Corps Uganda’s Agri-Fin Mobile program to improve efficiency in the operation of Savings and Credit Cooperatives (SACCOs) and to provide rural smallholder farmers with the full benefits mobile financial services.
Ensibuuko will deploy its solution, MOBIS – a customised banking and information system into SACCOS in Uganda to enable them manage information and reporting efficiently. MOBIS is integrated with mobile tools such as mobile money and SMS embedded into a single USSD platform to enable people in rural communities access financial services on the mobile. The solution is expected to reach over 20,000 smallholder farmers in 2015. It is intended to enable SACCO’s to efficiently deliver affordable and tailored financial services to small holder farmers while effectively managing their information. For the past year, Ensibuuko has undergone an incubation program at Outbox Hub in Kampala, a tech hub that supports start-ups with mentorship, shared office space and training programs.
“Our partnership with Ensibuuko will provide a solid management system to the SACCO’s as a means to safeguard farmer’s money and providing them with a banking history which allows them to get to the next level of financial inclusion” said a, Agri-Fin Mobile Program Director.
“The solution itself reduces on transaction cost for the farmers by bringing the power of transactions to their palms through mobile”
With a population of over 35 million in Uganda ,only 1.5million have access to formal financial accounts with the banking industry while 84% of the population living in the rural areas with 80% dependent on Agriculture and would require finances in the Agricultural production. SACCO’s for most of the part are proving to be strong drivers in delivering financial services to small holder farmers but are limited due its operational structures and mistrust. Mercy Corps and Ensibuuko have partnered to rollout and pilot Ensibuuko’s Mobile Banking and Information System.
Read the full article on Ensibuuko’s website: http://bit.ly/1qQUTm8
Article originally published with the title “Mercy Corps and Ensibuuko to deepen financial inclusion in Uganda through a mobile banking platform for Savings and Credit Cooperatives (SACCOs)”
Photo credit: Ensibuuko
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