The Defence Savings and Credit Cooperative Society (DESACCO) held its 4th Annual Delegates Meeting (ADM) today 02 March 2023. The two-day training event brought together delegates from various units to continue equipping them with financial management knowledge and address the various member concerns from the various regions they represent. The event also offered an opportunity for the Sacco director to present the annual report about the Sacco performance and the substantial strides made towards achieving its strategic goals.
Speaking during the event, Permanent Secretary Ministry of Defence, Mr. Patrick Mariru, who was also the Chief Guest, noted the significant growth the Sacco has attained. He applauded the KDF leadership for the support accorded to the Sacco which has positively improved the financial welfare of the service personnel.
“I encourage all of you to be good ambassadors of DESACCO. From this training, sensitize all the personnel in your respective units on ways of saving and creating wealth, by so doing you will be creating a financially secured future.” He added.
The Vice Chief of Defence Forces Lieutenant General Francis Ogollah who accompanied the Permanent Secretary, acknowledged the growth of the Sacco in support of mission readiness and the financial knowledge KDF personnel have gained since its inception. He further implored the delegates to intensify member education in all KDF establishments and units within the country and in operation areas.
Major General Muthuri Kiugu, the ACDF – P&L, who is also the Chairman of the Sacco, acknowledged the Sacco as one of the fastest growing cooperatives barely four years after it was established with an estimate of 28,000 members which is greatly attributed to the enhanced marketing and sensitization of the Sacco in various KDF units. He commended the delegates for their continuous efforts of being ambassadors’ and disciples of the Sacco and termed them as the cord that links the members to the Sacco.
Defence Savings and Credit Society (DESACCO), registered under the Cooperative Society Act Cap 490 on 10 April 2019 continues to uplift the members’ social and economic well-being. It was mooted by KDF leadership after realizing the gap experienced by Service Personnel in inculcating the culture of saving and access to affordable and reliable credit facilities.
The Sacco is in a position to offer various Back Office Sacco Activity (BOSA) products among them Personal loans, Premier loans, Emergency loans, Karibu loans and Sharia loans. In addition, Sacco has availed Front Office Services Activity (FOSA) products like Salary Advance, Okoa Cash, Fixed Deposit Account, FOSA personal loans, Junior/Toto account among others.
The two-day event drew more than ninety Sacco representatives from various regions from as far as Garissa, Mandera, Turkana, Wajir, Lamu, Mombasa, and Busia among other regions.
In attendance were Brigadier Charles Mwazighe, the DESACCO Vice Chairperson, Brigadier Sammy Kipng’etich, DHQ Chief of Finance, Colonel Nehemia Kemei, DESACCO Managing Director, KDF Senior Officers, Service Members, and representatives from Ministry of Cooperatives, Cooperative Bank and Housing Finance.