KAMPALA-As savings culture continue to improve among Ugandans thus giving a rise to a number of savings groups at various levels, people have been asked to embrace modern ways of transacting business.
Ivan Asiimwe, UCA General Secretary at the launch of Investa App last week.(Courtesy photo)
Ivan Asiimwe , the General Secretary of Uganda Cooperative Alliance asked all cooperators to adopt the Investa App which was recently launched by Housing Finance Bank since it provides solution to most of the challenges faced by Cooperators.
“In the past (Analogue method) financial records of Saccos , village savings groups and Cooperatives has been in the hands of the few administrators like Chairperson, Secretary and Treasurer. I witnessed a scenario where a Chairperson swallowed financial records of the group as members had come to collect their money thereby leaving no proof behind for people’s savings.”
Asiimwe noted that with this new app, every one is capable of monitoring his/her savings and can deposit money from any where at any time with ease.
“Its easy to trace an accounting under digital system unlike in the manual system where you’re required to have all staff work 24/7 to track a minor error recorded in the system.”
He further asked farmers to always work as groups in marketing their produce Instead of relying on middleman who end up cheating them.
Angella Nandawula , the Head of Business and Institutional Banking at House Finance Bank Limited revealed that they introduced this app after several surveys and consultation from their customers.
“Before enrolling you to this app, we held a number of engagements and Sensitizations with the selected groups to deeply understand its operation. You select administrators among your leaders who are entered into the system and other members are able to follow all operations.”
She added that Investa App will reduce cases of financial mismanagement, cash theft and robbery in some areas where money has been kept into people’s houses.
Recommended for you
