A SACCO for techies by techies
For a secure and planned future
Tech Innovators SACCO of Kenya was registered to facilitate savings and provide credit to the tech community nationally and internationally. The tech community includes innovators, entrepreneurs and investors. The membership is projected to grow due to an increase in the uptake of digital technology by businesses thereby creating a market need for tech innovators and entrepreneurs. Today the total membership stands at 162. The SACCO is projecting to register members from corporates, associations and youth groups.
The society is governed by 9 interim officials who are supervised by an interim supervisory committee that consists of 3 members. The Management team is headed by the Chief Executive Officer assisted by Managers in charge of various organization functions. This Strategic Planning process seeks to put organizational structure in place to guide how the operations of the SACCO shall be conducted staff members headed by a Chief Executive Officer. The Board is responsible for strategy formulation while the staff members execute the strategies.
Tech Innovators SACCO’s geographical area of operation is the Republic of Kenya in Nairobi and its environs. The SACCO currently has substantive membership of individual innovators, tech entrepreneurs and tech associations. However the SACCO is open to other organizations, investors and youth/women groups in the technology sector.
The SACCO’s main objective is to promote the economic interests of its members by encouraging thrift through the mobilization of capital and talent. Tech Innovators SACCO shall draw technical and financial support from recognized institutions and affiliate organizations/associations.
Tech Innovators SACCO uses a delivery model that is based on accumulating savings from members and providing credit in form of tech capital and infrastructure resources to the members. In the lending methodology Tech Innovators SACCO uses the individual guarantee system where a member borrowing is guaranteed by members of the SACCO and groups act as guarantor to group members. Members contribute share deposits every month and the shares act as security of the tech credit granted to members. The SACCO, however, intends to broaden its capacity of lending by considering individual digital requirements following formulation of appropriate policies and procedures.