Nairobi: 26th October 2024
The Cooperative Development Information Centre (CODIC) hosted a workshop at a Nairobi Hotel, aimed at fostering SACCO digitalization in Nairobi, the workshop sought to enhance relations between CODIC and the Nairobi County Government in alignment with the county’s broader vision of becoming a smart city.
Chief Officer for Cooperatives Mr. George Mutiso who was the Chief Guest at the event highlighted Nairobi County’s significant role in the cooperative movement, noting that the county oversees 60% of SACCO activities in Kenya. He emphasized the importance of empowering SACCOs through digital solutions, ensuring inclusivity as Nairobi embraces technological advancement. “As we move toward digitizing SACCO services, it is crucial that every member feels included in the process”.
“By ensuring members understand and actively engage with the technology, we can foster a smoother transition. Through information management systems such as the (CMIS) customer management information systems, we will gain deeper insights into the structure of SACCOs and their relationships with members. By sharing our own success stories and demonstrating the tangible benefits, we can build trust and ensure that everyone is aligned with the SACCO vision, fully embracing this digital transformation,” said Mr. Mutiso.
Elaborating further on this, Rahab Chege, General Manager of CODIC Ltd, discussed the success of Taqwa SACCO, Kenya’s first Sharia compliant cooperative society. “Since its inception in 2014 with 3,000 members, Taqwa SACCO has grown to over 14,000 members, providing vital services to the Muslim community. Their commitment to Sharia law has driven growth and inclusivity, through our IT services we have helped them expand from back office operations to fully integrated services under the Savings and Credit Cooperative Societies Regulatory Authority (SASRA),” Chege noted, urging other Muslim communities to consider faith based SACCOs.
Daniella Chege, IT Consultant and Account Executive at CODIC, showcased the Queue Free System (QFS), which allows SACCO members to manage their accounts and access services without the need for physical branches. She weighed in on the system’s potential to generate new revenue streams by charging transaction fees. “QFS strengthens SACCOs by enabling members to check loan balances, make transactions, and transfer funds directly to their bank accounts, enhancing financial management and operational efficiency,” Daniella explained.
The workshop reaffirmed Nairobi City County’s commitment to modernizing SACCOs, promoting sustainable growth, and enhancing financial inclusion across communities. Mr. Mutiso also reiterated the county’s support for technological advancements in the cooperative sector, recognizing the partnership with CODIC as pivotal to achieving these goals.
In attendance were cooperative development officers led by the County Director- Dolphine Aremo, Esther Mwai accounting executive CODIC and Mr. David Otwoma marketing manager CODIC.
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