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Tech Industry

HP-led group sets up transaction system in Africa

A public-private consortium that includes Hewlett-Packard has started a pilot program in Uganda to test a technology that promises to improve delivery of small loans to remote locations. The program will involve installation of an electronic transaction system designed to collect loan payment and savings information, to replace the existing manual system. The experience gained in Uganda could be useful in other similar settings, HP said.

The group, the Microdevelopment Finance Team, has committed to invest over $2.3 million in the pilot. The team includes microfinance and technology experts as well as business thinkers.