DESACCO 6TH ANNUAL MEETING: DRIVING FINANCIAL EMPOWERMENT FOR KDF PERSONNEL

The Chief of the Defence Forces (CDF), General (Gen) Charles Kahariri, on Thursday 13th March 2025 presided over the 6th Defence Savings and Credit Cooperative Society Limited (DESACCO) Annual Delegates Meeting (ADM) at the Humanitarian Peace Support School (HPSS) in Embakasi Garrison, Nairobi.

In his address, Gen Kahariri commended the high membership growth rate within KDF, noting that nearly all personnel have joined DESACCO. He credited this achievement to the dedication of commanders, the board of directors, staff, and delegates for being ambassadors of the DESACCO. The CDF encouraged the SACCO to continue innovating new products while leveraging on technological advancements to enhance service delivery and protect members’ investments from emerging threats.

Highlighting DESACCO’s latest milestone, Gen Kahariri praised the introduction of mortgage services, which are being financed by the Government of Kenya through the National Treasury. He expressed confidence that this initiative would help service personnel acquire residential homes in alignment with the government’s affordable housing agenda.

The CDF further encouraged more personnel to take advantage of DESACCO’s financial products, including salary processing. Leading by example, he pledged to channel his own salary through the SACCO soon.

Speaking at the meeting, DESACCO Chairman Major General David Ketter urged delegates to remain committed to the SACCO’s mission of financially empowering Kenya Defence Forces personnel. He emphasized the importance of unity in building a stronger, more prosperous SACCO capable of delivering value and making a lasting impact on its members.

The Annual Delegates Meeting, which brought together over 130 delegates from various formations, and units, provided a platform for the SACCO leadership to present the annual financial report on its performance and significant strides toward achieving its strategic goals. The annual meeting also served as a forum to receive and adopt the 2024 audited reports, appoint external auditors for 2025, and pass key resolutions.
Speakers at the event lauded DESACCO’s rapid growth, with the SACCO experiencing an impressive 80% increase in revenue and a 60% expansion in its loan portfolio within just six years of its establishment. Total assets surged from Ksh 5.4 billion to Ksh 9.2 billion, while member deposits grew from Ksh 3.9 billion to Ksh 6.3 billion.

Established on April 10, 2019, under the Cooperative Society Act Cap 490, DESACCO continues to enhance the social and economic well-being of its members. It was founded by KDF leadership to promote a savings culture and provide accessible, affordable, and reliable credit facilities for service personnel. The SACCO offers a range of financial products, including Back Office SACCO Activity (BOSA) and Front Office Services Activity (FOSA) products.

The event was attended by senior military and government officials, including Commander Kenya Army, Lt Gen David Tarus, Commander Kenya Air Force, Maj Gen Fatma Ahmed, Commander Kenya Navy, Maj Gen Paul Otieno, General Officers, senior military officers, Nairobi County Chief Officer for Cooperatives Mr. George Mutiso, and Dagoretti Sub-County Cooperatives Officer Mr. Njoroge Mwangi, among others.