Using SocialPay to simplify collection in SACCOS

In Uganda, many savings and credit co-operatives(SACCOS) have been created in order to help people create a better life for themselves. Mainly women have embraced the Sacco’s through creating different groups for example 10-50 and this is done through collection of a particular amount of money weekly or monthly.

Twekebbe is one of the Sacco that is located in Kawempe where women line up to make their weekly deposits and some of them to collect loans. Twekebbe has promoted frugality among its members by affording them an opportunity for accumulating their savings and deposits and create thereby a source of funds from which loans can be made available to them for productive purpose, at a fair and reasonable rate of interest. This has helped to provide an opportunity for each of its members to improve her economic and social conditions.

Most women have been able to create personal businesses through the loans that they get from Twekebbe which has helped to improve their lives positively but the collection bit is a problem because most women spend the all day in a long queue to deposit their payments which is a bit inconveniencing and affects the business

Having studied several SACCOS over time, a solution to this recurring issue was created in the Social Pay app. With Social pay, collection is made easy. The group members can send in their payments through mobile money, master and visa cards to the Sacco social pay account at a cheaper rate regardless of where the member is. Hence cutting down the long queue at the office and making the collection bit easy. After each payment a notification is sent to the sender to show the payment so in case of any compliant the member can show the message to verify.

Its time to embrace the change that comes with technology. Make use of the Social Pay app for all your collection needs. Simply download the app, register and get started.

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