Addressing Impacts of COVID-19 on SACCO Operations

Published On - May 16, 2020

Kanisa Sacco Ltd Blog Post

Following the Kenyan government directive on the containment of COVID-19 made on Friday, March 13, 2020, suspending all mass/public gatherings or meetings of any nature until advised otherwise, the management had to postpone until further notice the Kanisa SACCO AGM that was slated to take place on Saturday, 21st March 2020. This also followed a circular that we have received from the State Department of Cooperatives, Office of the Commissioner suspending all general meetings.

Despite the cancellation and in the interest of transparency, the management shared with all members the Minutes of the last AGM held on 9th March 2019 the Kanisa SACCO FY2019 Audited accounts and the KHL Audited Accounts for FY2019.

During this period the management has also put in place various measures to ensure that the SACCO operations re- main minimally interrupted, that the health and safety of our staff and members is guaranteed and that the stability of the society is safeguarded as well. These measures include among others;

  • Strict adherence to the precautionary measures and the directives given by the Kenyan Government, such as the use of sanitizers and social distancing for those vis- iting the office, hence, we will only serve one member at a time in the office.
  • Provision for a dropbox at the entrance of the office where those coming to the office to bring documents can drop them. You can also scan and send us via email or WhatsApp your deposit slips.
  • We encourage members to as much as possible avoid physical visits to the SACCO office until the situation normalizes.The office will, however, remain open as we monitor the situation.

We urge you to get the information you need via phone 0714612049/ 0780612049 or email us at info@kanisa-sacco.org. You can also visit our web- site www.kanisa-sacco.org.

In the next three months with effect from 1st May 2020, we have set the maximum loan limit to KES 500,000 for those taking three times or four times of their deposits to cushion the Society and at the same time protect guarantors. All those with free deposits will be allowed to borrow up to a maximum of 80% of their free deposits. Other credit terms and conditions will apply. We have suspended the use of collateral as loan security until further notice.

As the world continues to grapple with the COVID-19 pandemic whose economic impact remains a great concern for our country, businesses, individuals and the SACCO alike, we count on your understanding during this challenging time and look forward to serving you within the precincts prescribed by the government as we wait for further instructions. These are challenging times and at Kanisa SACCO, we would like to journey with you to provide the much-needed continuity during and beyond these extraordinary times.

The situation continues to evolve by the day, and we are closely monitoring the changes to develop solutions that will support you through these times. We are also closely following the measures instituted by the government of Kenya to cushion citizens as well as regulations that are evolving in the industry. We are continuously looking at our operating context with a view of remain- ing afloat at these challenging times and at the same time meeting the needs of our members.