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Saccos to invest Sh800m in a joint ICT platform
Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSME) Development Cabinet Secretary Simon Chelugui makes his remarks during the second day of the 4th Edition of the SMEs Conference and Expo held at the KICC grounds on March 16, 2023. PHOTO | FRANCIS NDERITU | NMG
The Co-operative Alliance of Kenya (CAK) has launched an Sh800 million technology platform to ensure the safety of depositors’ funds in savings and credit cooperative organisations (sacco) in the wake of growing fraud.
The Co-opTech platform, a financial technology company owned by the cooperative lobby, will oversee the security of depositors’ funds through a shared platform that will be used by all saccos in their daily transactions.
