A financial system created by a Ugandan fin-tech firm specifically for student needs enables students to keep track of their finances and apply for credit in the future. The term “Kawu,” which students loosely translated from drought, refers to a period of shortage throughout the school year, which motivated the innovator to develop a jailbreak solution to the problem of financial scarcity.
The application, launched 15 months ago, works in the form of ATMCard. Parents deposit money into learners’ accounts, where they can withdraw the upkeep through an agent.
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