Central Association of Co-operative Unions (CACU) in Zimbabwe, together with a Kenyan ICT solutions company Sybyl have launched a cloud based banking system aimed at helping the small scale companies to automate their operations.
Speaking at the launch today, Sybyl general manager Tejaswi Tanjore, said the system will help cooperatives automate workflows, deliver new services faster, boost efficiency, deliver savings and help curb corruption
“ This is a first for Zimbabwe, the systems will help small organisations improve on their banking system using cloud technology.”
Speaking at the same event, Registrar of Cooperatives Thabani Shoko said the innovation is a welcome development given that a lot of cooperatives are failing to account for the money due to corrupt activities by its leaders.
“ Small organisations in the country still use manual book keeping methods, and a Government we welcome this initiative which will see members of CACU trail all company funds.
What we what to ensure as Government is that there is data sovereignty, so that critical information does not end up in the wrong hands.”
Zimbabwe is failing to bridge the digital divide gap due to macroeconomic challenges which resulted in limited access to connectivity.