The move is designed to allow customers to receive faster services and for the company to benefit from increased efficiency, with the potential for a single employee’s daily output to multiply by five.
As part of the acquisition, Koi Pay’s team, including experts in software development, have transitioned to Jali Finance.
Felix Nkundimana, the CEO of Jali Finance, explained that the firm had planned to transform into a FinTech company, which necessitated approaching firms specialized in this technology.
Koi Pay was chosen because it met all the required criteria, leading to the integration of their platforms.
“From today, Koi Pay will cease to exist as an independent entity, and all employees will merge into one company. The Koi Pay App will now become the Jali Pay App. We aim to transform Jali Finance into a company that offers financial services using advanced technology, ensuring quick and integrated service delivery,” Nkundimana stated.
He highlighted that the technology adopted is expected to significantly boost both customer satisfaction and corporate profitability. Financial institutions often rely heavily on paper-based processes or small consumer loans that were cumbersome to manage traditionally.
According to Nkundimana, the new technology will fully address these issues, offering customers quicker and more streamlined services, which in turn will enhance the company’s profitability and growth. “If our employee could serve 100 customers before, now with this technology, they can serve up to 500,” he noted.
This technology also reduces potential errors and exhaustion from manual tasks, ensuring customers can access services anytime they need. “Apart from getting services faster, customers will be able to perform some tasks themselves, reducing the need for physical travel to obtain services,” Nkundimana added.
Frank Mugisha, the CEO of Koi Pay, assured customers that they should not worry about the transition, as Koi Pay is merging into a strong and well-established company in the market.
“The services we offered were similar to those of Jali Finance, but they were conducted traditionally without the use of technology and included some that we did not provide. It’s a win for our customers, who will now receive superior services. They should feel that nothing has changed,” Mugisha said.
After three years of operating Koi Pay, Mugisha emphasized that the investment in developing robust platforms has significantly improved service delivery and he has no doubt that “Jali Finance will advance remarkably in its development.”
To date, Jali Finance has helped about 5,000 people acquire motorcycles on loan, with numbers expected to rise. By the end of 2024, they aim to assist over 2,500 more, targeting a total of 7,500 by December this year. The services have been well-received, with 97% of motorcycle loan recipients paying back successfully, many having completed their payments.
Jali Finance also plans to expand into other services soon, such as car loans, low-interest personal loans, and facilitating connections between fuel seekers and suppliers. Additionally, the company anticipates expanding operations into other countries within the year, with technology playing a significant role in this growth.
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