🗃️ Loan Write-Off Functionality Now Available

ByAmiri Sadiki Likati

We’re excited to announce the introduction of a new Loan Write-Off functionality within the system — a critical enhancement designed to help SACCOs and Microfinance Institutions (MFIs) manage long-outstanding and non-performing loans more effectively.

🔄 What’s New?

The new feature enables institutions to formally recognize uncollectable debts, ensuring greater accuracy and integrity in financial records.

✨ Key Highlights:

  • 🧾 Write-Off Capability
    Institutions can now offset and mark loans as written off when recovery is no longer viable, improving balance sheet clarity.
  • ✅ Maker-Checker Process
    A built-in approval workflow ensures write-offs follow a clear authorization trail, enhancing control and accountability.
  • 📉 Better Balance Differentiation
    Easily distinguish between active, recovered, and non-recoverable loan balances, simplifying portfolio analysis.
  • 📊 Improved Reporting
    The feature enhances financial reporting and debt management tracking, providing better insight into loan performance.
  • 🔍 Enhanced Transparency
    Offers improved transparency for audits, compliance checks, and internal financial reviews.

💡 Why It Matters

Non-performing loans can significantly distort an institution’s financial outlook. With this update, SACCOs and MFIs can now clean up aged portfolios, maintain more accurate records, and ensure that financial plans are based on realistic, up-to-date data.

This functionality not only improves day-to-day financial management but also strengthens long-term strategic planning by providing a clearer picture of loan performance and risk.

🗃️ Steps for Loan Write-Off in Wakandi CAMS

  1. Request Feature Activation
    Contact Wakandi Support and request that the Loan Write-Off feature be enabled. This must be done by our team using super admin access.
  2. Enable the Feature for Specific Roles
    Once the feature is activated:
    • Go to Settings
    • Navigate to Roles
    • Select the specific role (e.g., Loan Officer, Manager)
    • Ensure the Loan Write-Off permission is ticked/checked
  3. Perform the Loan Write-Off
    • Go to the Loan you want to write off
    • Click on the three-line menu (⋮) next to the loan
    • Select Loan Write-Off
    • Enter a valid reason for writing off the loan

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