Bomet Workshop Focuses on Enhancing SACCOs Through Digital Banking Solutions

BOMET — Stakeholders gathered in Bomet for a workshop aimed at empowering Savings and Credit Cooperative Societies (SACCOs) through digital technology. The event, organized by the Department of Cooperatives and Marketing in partnership with Kwara Ltd., explored the use of digital banking solutions to overcome challenges in the sector.

According to Kenya News Agency, Area Assistant Director of Cooperatives, the workshop addressed the pivotal role of SACCOs in Kenya’s socio-economic landscape. “SACCOs are recognized as key agents in the socio-economic transformation of our country. They play a critical role in mobilizing savings and offering financial products that enable members to generate wealth and meet their socio-economic needs,” Koskei stated. He emphasized that while SACCOs are crucial for achieving the objectives of Kenya Vision 2030, they face several challenges that affect their sustainability and effectiveness.

The workshop brought together cooperative leaders and senior officials from the cooperative department to delve into these issues. Discussions focused on how digital solutions can streamline operations, enhance accessibility, and bolster the resilience of SACCOs. Tabitha Wainaina, Regional Sales Representative from Kwara Technologies, demonstrated how their advanced digital tools are designed to modernize the functioning of SACCOs. She highlighted the potential for technology to automate processes, improve data management, and expand the range of financial services available to members.

“As SACCOs embrace digital banking solutions, they can overcome existing challenges and unlock new growth opportunities,” Wainaina noted, underscoring the commitment to equip SACCOs with the necessary technologies to succeed in a digital economy.