Stima Sacco, a subsidiary of Kenya Power, has launched M-Pawa –a mobile service meant to provide its members with a wide array of financial services through a mobile device. M-Pawa aims to provide a majority of the services offered by Stima Sacco without depreciating customer experience.
Saccos were founded a long time ago, to provide members with unsecured loans. The new service is set to provide the same values, albeit on a digital platform. Members are assured that there will be no distortion to the existing model.
According to Stima Sacco chairman and Kenya Power MD, Dr. Ben Chumo, M-Pawa will bridge the physical barrier that currently hinders many members from accessing the Sacco’s services. Additionally, the ease at which transactions are to be carried out will serve to increase profitability.
In addition to rolling out M-Pawa, Stima Sacco is to acquire a core banking ICT infrastructure capable of providing a huge number of innovative solutions. This is key to excellent service provision, as long as strategic partnerships are realized.