Wakandi has launched a Series of funding rounds, aiming to raise $50 million (Sh6.5 billion) within three months to expand into Kenya, Uganda, and Tanzania.
Wakandi, a digital financial system primarily designed for cooperatives and microfinance institutions, seeks to digitise Saccos and small and medium enterprises (SMEs), enhancing financial inclusion across the region.
Recently, Wakandi signed a partnership with Mastercard at the Norwegian Ambassador's residence in Nairobi, combining Wakandi's digitisation expertise with Mastercard's cash movement solutions.
This collaboration targets the informal sector, which contributes 50 per cent of sub-Saharan Africa's GDP and 85 per cent of its jobs, addressing challenges like fraud and limited access to formal financial services.
