Use case
Staff associations
Run colleagues’ savings and loans with proper interest, approvals and statements.
For example: Staff welfare and savings schemes, Workplace clubs, Teachers’ and nurses’ associations.
See also: welfare dues, susu and savings groups
Savings statement · Example Staff Association
SV-2026-00007Earning today: GHS 0.43, on the closing balance.
The problem today
- Savings and loan balances live in a spreadsheet that one person understands.
- Interest is worked out by hand, and withholding tax is a guess.
- Loans are approved in the corridor, with no record of who agreed.
- Members wait weeks for a statement.
How it might run on Kwessa
Example Staff Association
RepayingLN-2026-00007
Emergency loan · Kofi Boateng
Here’s how a staff association of about 60 colleagues might run savings and loans on Kwessa.
- 1
A savings account each
The association sets up a savings product with its interest rate. Each member gets their own numbered account, which can never be overdrawn.
- 2
Deposits with receipts
Monthly deposits are recorded as payments into each account, and every one gets a receipt.
- 3
Interest done properly
Kwessa works out interest every day on the closing balance, books it at month end and credits it on the crediting day, less withholding tax at the rate the association sets.
- 4
Loans with a policy
The association writes its lending policy into Settings and sets up loan products, such as an emergency loan and a school-fees loan, each with its own interest method, term and security: guarantors, or savings pledged against the loan.
- 5
Approved by someone else
Every application is checked against the product and the policy. If the association asks for it, someone who neither took the application nor is borrowing must approve it. At payout, the borrower gets the repayment schedule by email.
- 6
Repayments on track
If the association turns them on, borrowers get a WhatsApp reminder before each instalment. As the loan is repaid, savings pledged against it are released.
- 7
Statements on demand
Withdrawals go out on payment vouchers, the money held until they post. Any member’s savings statement prints as a PDF, and members can ask the WhatsApp assistant for their balances.
What it uses
- Members
- Contributions & collections
- Accounting & reports
- Payment vouchers
- Governance
- Member loans
- Member savings
- WhatsApp assistant
Questions
Give each member their own savings account, work out interest from the balances, write the lending policy down and have someone other than the borrower approve each loan. Kwessa does each of these and keeps the statements.
Kwessa works out interest every day on the closing balance, books it at month end and credits it on the crediting day, less withholding tax at the rate the association sets.
Yes. A loan product in Kwessa can take guarantors or savings pledged against the loan, and the pledge is released as the loan is repaid.
Yes. Members ask the association’s WhatsApp number for their balances, and any member’s savings statement prints as a PDF.
The plan for it
Premium
GHS 900 a month · any number of members
Premium has everything above.