INCULCATING BEST PRACTICES FOR DESACCO

The Assistant Chief of Defence Forces in charge of Personnel and Logistics (ACDF P&L) Major General Muthuri Kiugu has today, Tuesday 25 October 2022, presided over a training forum for the Board of Management of the Defence Forces Savings and Credit Co-operative (DESACCO) facilitated by the Kenya Union of Savings and Credit Co-operatives Limited (KUSCCO). The forum was aimed at enhancing the capacity of the SACCO for effective service delivery to their customers spread across the military establishments in the country.

In his opening remarks, Maj Gen Muthuri Kiugu who is also the Board Chair of DESACCO, said DESACCO has continued to remain a soldier-centric saving and credit facility adding that it is an undeniable truth that a soldier who knows his savings are well taken care of is likely to serve with distinction in his duties.

He noted that DESACCO has become one of the fastest growing Co-operatives in Kenya thus necessitating the need to ensure it operates within the dictates of the rule of law by borrowing skills and expertise from KUSCCO.

“We thank KUSCCO in a special way for holding our hands and partnering with us by offering to train our staff on matters of financial management to ensure we abide by the rule of law. Lessons learnt from this forum shall propel us towards achieving our strategic plan and at the same time build trust from our esteemed customers,” said the DESACCO Board Chairperson.

KUSCCO Chief Executive Officer (CEO) Mr. George Ototo affirmed the commitment of the body to impart relevant knowledge to the societies to enable them serve their members effectively and seal the loopholes where the members’ funds can easily be siphoned.

Some of the areas of training involved strategies for SACCO financial health, growth and sustainability, the role of the board, supervisory and sub-committees in SACCO management as well as the overview of SASRA regulations and impact on SACCO operations.