2. Context
Investment plays an important role in sustaining
growth and development of any country. High
rates of investments depend on high rates of
saving (Pelrine & Kabatalya, 2005).
Kenya’s vision 2030 for financial services is to
create a successful and globally competitive
financial sector capable of promoting high levels
of saving and financing for Kenya’s investment
needs (Adam, Collier & Ndungu, 2011).
3. Justification
According to Lipsey and Chrystal (1995) a high
saving economy accumulates assets faster and
thus grows faster than a low saving economy.
Bailey (2001) defines SACCOs as cooperatives
which provide their members with convenient
and secure means of saving money and obtaining
credit at affordable interest rates.
4. Kenya - SACCOs
The Ministry of Cooperative Development and
Marketing (MCDM) conference report of 2010
indicates that there are currently over 5200
registered SACCOs with over 5.6 million
registered members in Kenya.
[MCDM], 2008) estimates that 63 % of Kenya’s
population participates directly or indirectly in
cooperative based enterprises. Thus, the
remaining Kenyans which constitute 37% do not
take part in cooperatives.
5. Gap - Savings Culture
World Council of Credit Unions [WOCCU], 2008)
that 38.3% of the Kenyans are still not included in
financial services and use.
The problem of low savings and investment
comes at a time when African Confederation of
Co-operative Savings and Credit Association
[ACCOSCA], 2011) workshop has classified
SACCOs as vehicles for economic growth.
6. Why Bridging Sacco
No extra employees
Everybody works hard
No back up or one on bench
Everyone ensures enterprise success
Wealth creation through savings & Investment
Guide members to create Growth, Risk and
compliance (GRC) Plan to monitor the events and
maximize the diversity of potential opportunities
that exists despite the continued uncertainty in
global economy
7. Our Goal
Capacity building to fight vices of fraud and
corruption to foster development and growth of
public and private enterprise as well as
government projects
8. Objectives
Family members Mentorship/Coaching from age 13
Personal Development
Financial Independence
Creation of viable business ventures
Professional Leadership & impact training
Spiritual development
Talent development
10. Target
Create 2 million Kenyan millionaires in next 5-10 years
Uplift 2 million retirees from abject poverty
Train Children as;
○ Manager
○ Realtor
○ Farmer
○ Seamstress
○ Upholsterer
○ Merchant
‘Mtoto umleavyo ndivyo akuavyo’
11. Business Model
Be in a group of 10 Members
All members Save Consistently for one year
Three businesses per group get Loan of 9 times
total savings
Invest in a cow for milk and beef production
12. Livestock
Livestock sub-sector in Kenya accounts for
approximately 10% of the National Gross
Domestic Product (GDP).
This is 30% of the agricultural GDP. It employs
about 50% of the national agricultural workforce
and about 90% of the ASAL workforce. 95% of
ASAL household income comes from this sub-
sector.
This is despite the fact that the sector receives only
1 % of the total annual budget allocation.
(an overview of livestock subsector in Kenya)
13. Beef
The beef industry has been ranked as one of
Kenya’s fast rising economic sectors through
exports to overseas countries and is projected to
hit Kshs 70 billion mark in the next five years.
Beef production is estimated by Ministry of
Livestock Development to have grown from
287,000mt in the year 2001 to about 300,000mt by
year 2008. This has been a steady trends to the as
reflected in the FAO figures for beef production in
Kenya in 2009 and 2010, which were 290,000mt in
both years.
(an overview of livestock subsector in Kenya)
14. Dairy
Data from ILRI survey of
dairy farmers indicate that
off take levels may be
greater than normally
quoted. Which , say, a total
of 800,000 dairy farmers
with an average of 4 head
per HH (2 cows and 2
young stock). About 3.2
million dairy
(an overview of livestock subsector in Kenya)
15. Members Duty
Every Kenyan has a Legal obligation, duties, &
expectations requiring them to get high morals
standards, organizational compliance, work
culture and to follow behavior of their leadership.
Compliance is expensive but non-compliance is
more expensive’
16. Essentials
From Talking to Action - Planning to Execution
○Wear Jubilee tie
○Follow New Democrats Manifesto
○Jubilee is year of Cancellation of debts
among fellow Kenyans
○Create Ministry of Wealthy Development
○Establish Code of Morality