Dimkes launches an e-loan platform to enhance financial inclusion

Dimkes Sacco has launched a Mobile Loan App to give its 26,000+ members the opportunity to access loans from the comfort of their homes, offices, matatus, and businesses.

Dubbed M-Chipuka, the app is available on both android and IoS app stores and also available on USSD service by dialing *850# then selecting option 7.

Speaking during the launch, Laura Chite, the CEO CIO East Africa applauded the move terming it an industry disruptor and pacesetter for the SACCO space.

“The entry into digital loan platforms as a move to safeguard the market flooded by independent digital lenders is good disruption for SACCOs who must now innovate or comprehend to competition,” she said.

The Sacco, an Anglican Women’s brain child, began in 1999 and was visioned to enhance  financial inclusion and still runs on the same tenets even making it bigger and better.

The SACCO’s CEO Benson Macharia said; “Digital loan apps have disrupted the market thus challenging traditional players such as banks and Saccos to rethink their strategy.” Adding;  “Our entrance into the digital lending space is to protect our interest and prevent members from relying on other sources for short term loans.”

He further pointed out that businesses today are dynamic and uncertain due to globalization, and that the ever changing customer needs and the accelerating pace of technology among other market forces compel them to keep changing and evaluating
their strategies.

The move to digital lending seeks to provide credit to their members as required by the Kenyan Laws and to acquire leverage technologies to be able to survive and achieve
superior performance.

Due to the global competition in the financial sector, there is growing recognition of the important role that Strategy and Technology play in determining market success and superior performance in SACCOs. They are then compelled to find means of evaluating strategies and technology on various dimensions of their performance in a very dynamic and fast changing environment.

Technology was said to be fast advancing and improving efficiency while reducing cost to members through innovations to offer quality services.