Four Iraqi micro-finance institutions (MFIs) are benefiting from Ugandan-developed software solution, Loan Performer. This is according to Hans Verkoijen, MD of Ugandan-based software developer, Crystal Clear Solutions (CCS).
Micro-finance institutions Al Bashair in Bagdad, Al Inma in Falluja, Al Aman in Kirkuk and Relief International are successfully using Loan Performer, he says.
The software acquisition was made possible through financial assistance from the USAID Iraq Private Sector Growth and Employment Generation Project Mansour in Baghdad, Iraq.
The cost of the project stands at around US$ 11 364 for software development and training, says Verkoijen. The software is aimed at helping Iraqi citizens rehabilitate and boost their businesses.
Thelma Tajirian, micro-finance director for the project, explains that the software is an effective loan tracking system, which is creating success in the micro-finance institutions.
These are starting MFIs, so it is difficult to say at this moment how many people will benefit, Tarijan adds.
Loan Performer is a micro-finance software product that handles shares, savings deposits, loan tracking and accounting. Tarijan emphasises the software would be more beneficial in Arabic.
Home grown
Verkoijen said CCS support and supply the software to over 175 MFIs, rural banks and village banks as a means of providing efficient financial loans in developing regions. The company supports 175 different micro-finance organisations all over the world, all from Uganda.
"It is a positive move that Uganda is being used as a creator and supplier of this software," says Verkoijen.
John Musajjakawa, a representative for the ICT Investment Promotion Agency of Uganda, says companies like CCS have been encouraged to create ICT solutions oriented towards micro and SME business entities.
"Uganda has recognised smaller business enterprises are the key players in the economic development."
The funding of these enterprises is now through MFIs which needed specialised quick services and ICT enablers like software, he adds.
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