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Uganda : PLAN UGANDA, GRAAMEEN FOUNDATION, AIRTEL to boost VSLA model's security

August 16, 2014

Plan Uganda, the Grameen Foundation and Airtel Uganda have joined hands to boost the village savings and loan association (VSLA) model's security.

The three partners launched a product, on Wednesday in Kamuli district, that will enable VSLAs to store their savings using Airtel money.

A grant offered by the GSMA Women Programme, which works with the mobile sector to boost women's use of mobiles made the product possible.

Nuhu Kanyike, Director of Airtel Money, said the service would integrate three tools; group accounts, record management and mobile banking.

Kanyike said : "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."

Officiating at the launch, Country Director Abebe Fikru stated : "A mobile phone has ceased to be merely a communication device. Instead, it has rapidly evolved into a safe and secure money transfer tool."

Speaking at the launch, Kamuli LC-V Chairperson Proscovia Salaamu Musumba, added : "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 ."

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Source: TendersInfo (India)

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