On Wednesday in Kamuli district, the trio launched a product that will allow VSLAs to store their savings using Airtel money. The product was made possible by a grant received from the GSMA Women Programme, which works with the mobile industry to increase women's use of mobiles.
According to a 2013 Finscope survey, two-thirds of adults in
Airtel Money Director
"A mobile wallet will support safe storage of group funds as mobile money. Regular mobile reports can be generated to summarize transactions during that period and the Airtel Group Savings product can be linked to bank accounts at financial institutions to allow access to interest-bearing savings and credit," Kanyike said.
Officiating at the launch, Kamuli LC-V Chairperson Proscovia Salaamu Musumba said the technology should help improve the security of her voters' savings.
"With this new system, I am sure you will no longer come to my office to report your colleagues who have often stolen your savings from the ordinary boxes where you have been [keeping the money]," Musumba said.
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