The Kapita Community Savings and Investment Promotion cooperative (COMSIP), a Malawi-based public works project funded by the World Bank Groupe, uses TextIt to build and maintain SMS applications designed to promote its mission: inculcate a culture of savings and investment in both rural and urban communities to ameliorate the following conditions:
- Poverty (those living on under $2/day).
- Access to affordable business loans.
- Low female participation in development decisions.
- Low levels of female entrepreneurship.
- Poor savings culture.
- High financial illiteracy.
- Low youth entrepreneurship.
- Lack of collaboration for collective bargaining.
- High levels of energy poverty.
- High dependency on GMO seeds and inorganic fertilizers.
Until recently, the community of Kapita, Malawi, didn't have access to financial services within a 60km radius. COMSIP, a cooperative bank, was established to enable members of this community and others to purchase shares and take up to 3 times the value of their investment as a loan for agricultural or business purposes.
Using TextIt, COMSIP built a flow that allows prospective participants to both register for COMSIP and submit monthly financial reports via SMS.
Once a respondent starts the registration flow, they're asked a series of questions that include:
- the registrant's name.
- the registrant's district.
- the registrant's traditional authority.
- the registrant's cooperative name.
- the number of males and females in the registrant's cooperative.
- the registrant's cooperative's share price.
The flow then provides a password corresponding to the respondents language preference, Chichewa or English. The registrant's information is then sent to COMSIP coordinators via a Send Email action.
Respondents can initiate the reporting flow with the keyword 'COMSIP'. Once the flow starrts, they're asked to enter the code they were provided by the registration flow. If they don't have one, they're routed to the registration flow by a Start Another Flow action.
If they continue down the reporting flow, respondents are then given the option to submit a report, view their most recent report, or submit feedback for COMSIP
Submitting a Report
If the respondent elects to submit a report, they're asked a series of questions that include:
- mandatory savings for the reporting month.
- voluntary savings for the reporting month.
- total shares sold in the reporting month.
- loans taken in the reporting month.
- total investment in the reporting month, and where.
- profit made during reporting month.
- products produced during reporting month.
Each valid response is then saved to the contact's profile and, at the end of the flow, sent to COMSIP coordinators via a Send Email action.
Viewing a Recent Report
Respondents who elect to view a recent report are sent a message containing all of their responses from their previous interaction with the app. As these responses are saved to the contact's profile, they can be placed in a message using contact variables:
Respondents who elect to submit feedback are asked to provide a qualitative response, which is then sent to COMSIP coordinators via a Send Email action. COMSIP coordinators receive the respondent's contact information and feedback.
Impact to Date
To date, COMSIP has accomplished the following:
- the establishment of a democratically-run, registered cooperative.
- the training and certification of over 180 people in business skills.
- 200 households have gained access to solar home lighting, cutting costs on kerosene through energy loans that have high repayment rates.
- over 25 enterprises have received a business loan.
- the design and incorporation of a mobile credit system to expand COMSIP's capital base for loans.
- over 40 shareholders and growing.
Go with the Flow
- An E-commerce company can use TextIt to improve funnel abandonment by texting discount codes to customers who put something in their cart but don't purchase.
- An on-demand company can push text notifications when their delivery is on the way or manage a fleet of workers who won't be on computers but will always have their phones.
- Any company can measure Net Promotor Score or Customer Satisfaction by sending messages that are more likely to be read and responded to than any other form of communication.
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