HomeNet Kenya successfully registered and launched the HomeNet Kenya Savings and Credit Cooperative Organisation (SACCO) in 2023 and is currently enrolling members and facilitating savings. To further enhance SACCO services for the membership, HomeNet Kenya seeks to support the SACCO in installing and implementing a platform to manage membership details, loan processing, recovery, and the issuance of membership statements.
The process began with training the HomeNet Kenya SACCO Central Management Committee (CMC) and generating policy documents on August 29, 2024, at the Grand Winston Hotel in Nakuru. This training was conducted by a trainer seconded from the Ministry of Cooperatives and Small, Medium, and Micro Enterprises – Nairobi County. The training covered the following areas:
- Principles of cooperatives
- The cooperative structure
- The rights of a member
- The obligations of a member
- Savings
- Lending policy
- Personal financial management
The SACCO Central Management Committee, which comprises the chairperson, vice chairperson, secretary, treasurer, and a member, appreciated the training provided and resolved to develop a credit policy, a loan application form, and an information pack within a month to enable members to apply for loans. They also resolved to engage the trainer to develop a simple financial management system capable of capturing individual member savings, borrowings, repayments, and generating statements.
