CWG Gives Insight into Successful Cooperative

CWG Plc has adduced reasons it decided to engage critical stakeholders in cooperative societies across Nigeria on how to manage a successful cooperative during Covid-19 pandemic era.

Product Manager, Unified Cooperative Platform at CWG, Mr. Lateef Fadeyi, noted that interacting with the stakeholders became imperative as cooperatives in Nigeria were facing the urgent issue of the financial crisis affecting their day to day operation.

He, explained the need to engage them with a solution that could easily drive their operations on how to run a successful cooperative in the Covid-19 era.

Fadeyi who spoke at a recent webinar organised by CWG, said with the pandemic, cooperative societies, especially in Nigeria, would need help to successfully run their operations.

While identifying the problems of cooperative societies in Nigeria, which he listed to include readily available data for planning, lack of access, improper record-keeping, inefficient operations, lack of visibility, and financial exclusion, Fadeyi disclosed that CWG’s Unified Cooperative Platform (UCP) has been designed to address these challenges.

The platform, according to him, was an integrated core operations solution with front and backend access to both members and administrators, which gives an automated loan, automated reporting and secured access.

“UCP features include Automated Deduction Schedule, Loan Management, Member Management, Surplus Appropriation and Dividend, Business Management and Automated Reporting,” he said, adding that UCP remained one of CWG’s solutions geared towards promoting the growth of cooperatives in all countries where it has operations.

The benefits of the solution include worldwide accessibility, ease of operations, up to date and efficient data, enhanced knowledge for planning, ease of payment and collections, increased productivity, data security, broad visibility and transparency and no complexity of infrastructure setup. It is also a one-stop-shop for the entire cooperative ecosystem to address financial inclusion, accountability, accessibility and visibility, Fadeyi said.

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