Malawian Technology Company Sets Whatsapp Service for Rural Village Bank Groups
18 October 2019
Malawian technology startup company, Angle Dimension, has set up a digital platform that allows those that registered their village bank groups to view their account details and transactions at the comfort of their chat platform.
During the launch of Khusa App Henry Alfred Sauzande-Angle Dimension's Chief Technology Officer
Angle Dimension was established in 2016 as a technology company with the focus on building payment solutions that cater for the financial inclusion through Khusa mobile money application.
The company's Chief Executive Officer, Sokwani Munthali said all those that are registered through Khusa mobile money will just have to save the WhatsApp number for Khusa to view their account details and transactions.
"First, one has to be part of the village groups savings and that have the group is registered with Khusa App.
"If one is a member of a group that is already registered with Khusa App then they don't need registration to the WhatsApp solution.
"We are working with a partner bank, the FDH, who are the authorized financial institution to keep the funds. We are only providing the solution but not handling the funds," Munthali said.
He added that they are in the process of obtaining a licence with the Reserve Bank of Malawi, which is promoting digital financial services in Malawi.
In 2018 Angle Dimension, earned a nomination of World Summit Awards as best national digital financial services solution for Malawi.
Angle Dimension Chief Technology Officer, Henry Alfred Sauzande, was the quoted as saying the nomination meant a lot as Khusa, being a mobile application, allows groups to save and access group loans through the creation of digital wallets.
"Khusa also allows groups to keep track of their group savings and loans unlike the manual process of managing savings groups.
"The application allows group members to push and pull funds to their group via mobile money and bank wallets," he had said.
Khusa is helping community savings groups to reduce some of the risk connected with them handling the hard cash during their monthly gathering by using available digital payment platforms to sendmoney to their group and receive money.
Khusa is available on google playstore and can be downloaded after registering and signing up.
In a press release in 2018, World Summit Awards' Network Development and Communications, Manuela Wagner, had said the World Summit Awards are a global initiative selecting digital innovation making positive impact on society.