Eclectics sponsors SACCOTECH to harness technology for socio-economic development

Eclectics International Limited has joined hands with CIO East Africa to host the Saccotech event slated on the 10^th April 2019 at Serena Hotel Nairobi.

The event themed to harness technology in SACCOS for socio-economic development, brings together top tier industry players who will explore on how to effectively grow Saccos and gain a sustainable competitive edge by deploying various technological advancements.

Eclectics International Limited offers ICT solutions and will showcase a part of value proposition that will move East Africa Saccos to the next level.  The CEO for Eclectics, Mr. Pual R Mbugua, will be present at the event to expound on how Saccos in East Africa can overcome current challenges and increase penetration using technology.

It is a Kenyan based and owned organization that provides financial solutions in 23 African countries to support banks, micro finance institutions, Saccos and other bespoke clients. The company has over 10 years expertise in enabling financial institutions to increase efficiency and effectiveness by developing, deploying and supporting proprietary custom-made solutions. It has undergone various certifications and has the solutions developed to global standard.

Its key focus is the areas of financial inclusion where Eclectics partners with a number of institutions to assist in reaching to the population at the bottom of the pyramid with financial products that suit them and without having to conform to conventional banking modalities. Through this, Eclectics reaches out to a great number of lives across the continent and the impact is invaluable as it is immeasurable.

“We are glad that Electrics has partnered with the organizer’s of the premier SACCOTECH  to ensure the success of this premier technology forum. Together, we’re bringing the deposit taking saccos in the region at a time when digitization is accelerating operations and businesses in both the private and public sectors,” said Laura Chite, CEO CIO East Africa. adding; “Saccos can better overcome current challenges and increase penetration using technology.”

Saccos have in the past been said to have a critical role to play in the eradication of poverty by the UN, especially taking into account access to financial services as a key target of Sustainable Development Goal. They play a key role in financial inclusion by mobilization of savings access to affordable credit and financial literacy. Saccos also help in the improvement of agricultural production and marketing that is the back bone of rural economies in Africa and generally, in the improvement of the welfare members

Sacco’s need to employ or deploy technology strategically, taking into account the needs of the various stakeholders such as members, partners, regulators and government.  They need to deploy robust, scalable and flexible core systems that will be the anchor of the digital delivery channels.

Sasra reports that over the last eight years there has been a steady upward growth of saccos due to the inception of regulations this even as the World Bank in 2014 reported a 34% of accounts by adult Africans as opposed to 24% that was in 2011. This significant increase was attributable to mobile money accounts.

Saccotech is driven by the passion to integrate systems and  bridge the gap between the Sacco business and technology. This will consequently enhance the Sacco penetration.

Register from the invite below to book your space Register Here or log onto https://www.sponseasy.com/p/east-africa-sacco-tech-forum to sponsor the event.