The County Government of Nakuru has rolled out a program to digitize the business models of Savings and Credit Cooperative Organizations (SACCOs) to make their operations more efficient and transparent.
County Cooperatives Chief Officer Kibet Kurgat said the County had initiated a training program for Sacco officials on the digitization of their operations, aimed at helping them recognize the disruptive impact of new technologies on financial services.
Speaking during the training of officials from 40 Saccos, the chief officer said the ever-changing market trends necessitated that Saccos change their modus operandi to tap into and retain dynamic customers by digitizing their operations. This would enable customers to access services conveniently.
He said the training was being implemented through the National Agricultural Value Chain Development Project (NAVCDP), where 20 bookkeepers and 20 Sacco treasurers were undergoing training in a two-day event. The first batch of trainees is drawn from Saccos in Naivasha, Bahati, Molo, Kuresoi North, and Njoro Sub-counties.
The training will help reduce paperwork and streamline processes, saving resources and lowering administrative costs. In addition, it will enable customers in remote villages and small townships to access credit and saving facilities without having to visit a physical office.
“Digitization provides an avenue for Sacco members to transact and get services instantly at the touch of a button. Services such as account opening, transacting, and loan application are made easier by digitization, which will attract the younger generation to these products,” he said.
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He called on farmers to join cooperatives, stressing that membership would enable them to access a range of resources and services, including loans that will improve their productivity and resilience.
Nakuru County Cooperatives Director Ms. Josephine Ngandu said Saccos are challenged to reimagine their business models to adapt to current realities, noting that they must take the digital leap or risk falling behind the competitive curve.
She said that digitization has many potential benefits for stakeholders, as digitally driven operational efficiency saves costs, allowing for more competitive products and services.
The Director observed that innovative technology platforms will make Saccos even more attractive to digital-savvy clientele.
By Obegi Malack.
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