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The launch of UMWAMPI, a cutting-edge mobile wallet application developed by xpWallet in collaboration with CECADM Bank, is shaping Burundi’s journey toward digital financial inclusion. Designed to serve Burundi’s military personnel and the general population, UMWAMPI promises to transform how people manage their finances, offering seamless and secure access to digital financial services nationwide.

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Xpwallet Technologies, CECADM Bank to launch UMWAMPI mobile wallet in Burundi

Ibukunoluwa Bankole by Ibukunoluwa Bankole
November 21, 2024
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The launch of UMWAMPI, a cutting-edge mobile wallet application developed by xpWallet in collaboration with CECADM Bank, is shaping Burundi’s journey toward digital financial inclusion. Designed to serve Burundi’s military personnel and the general population, UMWAMPI promises to transform how people manage their finances, offering seamless and secure access to digital financial services nationwide.

UMWAMPI mobile wallet drives financial inclusion for Burundi’s military 

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The launch of UMWAMPI, a cutting-edge mobile wallet application developed by Xpwallet in collaboration with CECADM Bank, is shaping Burundi’s journey toward digital financial inclusion. Designed to serve Burundi’s military personnel and the general population, UMWAMPI promises to transform how people manage their finances, offering seamless and secure access to digital financial services nationwide.

Launched officially on October 30, the initiative aligns with xpWallet and CECADM Bank’s shared vision to address financial inclusion challenges while fostering economic growth.

Read also: Amenli secures $2.3 million to drive insurtech innovation in Egypt

Empowering military officers in rural areas

UMWAMPI addresses the unique financial needs of Burundi’s military personnel, many of whom are stationed in remote areas far from their families. The mobile wallet allows soldiers to send money home, pay bills, and manage their finances in real-time, regardless of their location.

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For the general public, UMWAMPI offers a comprehensive platform for financial transactions, including fund transfers, bill payments, and purchases. The app’s ease of use and accessibility aim to dismantle barriers to financial services, especially for those previously excluded from the formal banking system.

“UMWAMPI is more than a financial tool—it’s a lifeline for soldiers and a gateway to financial independence for civilians,” said a representative from xpWallet. “We are proud to bring innovative solutions that empower individuals and contribute to the nation’s economic growth.”

Transformative features driving adoption

The UMWAMPI mobile wallet comes with a suite of features tailored to Burundi’s needs. Users benefit from secure financial management, the ability to pay utility bills effortlessly, and a platform that simplifies transactions for both soldiers and civilians. By leveraging digital tools such as eKYC and integrating AI-driven capabilities, the wallet ensures convenience without compromising on security.

A partnership with purpose

The collaboration between xpWallet and CECADM Bank was critical in bringing UMWAMPI to life. Known for its dedication to financial empowerment and national development, CECADM Bank provided the foundational expertise and infrastructure to make the project viable. This partnership exemplifies how technology and finance can be merged to create impactful solutions.

“Our commitment is to support Burundi’s digital transformation,” stated a representative from CECADM Bank. “UMWAMPI is just the beginning of a broader strategy to integrate innovative financial services into everyday life.”

Read also: New fintech DigMo offers gamified wealth-building for Zambia’s underprivileged

Pioneering financial inclusion in Burundi

With insurance penetration at less than one percent and limited access to traditional banking, Burundi has long faced challenges in financial inclusion. UMWAMPI represents a significant stride toward bridging this gap, directly aligning with national goals for economic empowerment.

xpWallet’s CEO, Shady El Tohfa, emphasised the broader implications of the project: “UMWAMPI is a game-changer. By integrating cutting-edge technology with local insights, we’re enabling people to take control of their finances and unlock new opportunities for themselves and their families.”

As xpWallet looks to the future, the company plans to enhance UMWAMPI’s offerings with additional features to further streamline financial management. The ultimate goal is to expand UMWAMPI’s reach beyond Burundi, creating a model for digital financial solutions in emerging markets across Africa.

UMWAMPI is now available nationwide, ready to empower military personnel and civillians alike. By combining technology, innovation, and a commitment to financial inclusion, xpWallet and CECADM Bank are shaping a brighter future for Burundi’s digital economy.

Tags: CECADM BankUMWAMPIxpWallet
Ibukunoluwa Bankole

Ibukunoluwa Bankole

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