Business
Chamasoft: A Kenyan tech innovation that brings automation for investment groups
The Chamsoft service is available for as low as Ksh100 (US$1.2) per user per month. An advanced package that has more features is available for Ksh.250 (US$2.9) per user per month.
To use the service, one has to log into the chamasoft website http://chamasoft.com and register their group. They will then receive a notification via email and an SMS text message on their mobile device. One would then be able to invite their group members to register and personalize their chamasoft account to indicate how often they meet, upload their current financial records, state rules for penalties and loan application files.
Njuguna said the Chamasoft team is working on improving the product further to make it possible for auditors, banks and financial analysts to use the data collected and stored for auditing, advisory and lending approvals. He reckoned that a mobile version will be launched soon.
“We want to have a comprehensive product. The service will evolve with the kind of feedback we get. We want to make sure that this product is a one stop shop for all Chama needs,” he added.
Source: CIO East Africa
