Sidian Bank has reaffirmed its dedication to supporting SACCOs in Kenya during the 3rd Annual Leaders’ Summit KETSA 2024, hosted by the Kenya Teachers Sacco Association (KETSA).
The three-day event brought together SACCO officials to discuss pertinent issues and strategies for economic resurgence.
As the primary sponsor of the summit, having issued a Kshs. 1 million cheque in support of the Saccos, Sidian Bank emphasized its commitment to fostering innovation and collaboration within the cooperative movement to drive economic growth for SACCOs in Kenya.
In his speech to conference delegates, Mr. Chege Thumbi, CEO of Sidian Bank, said, “We are dedicated to promoting innovation and collaboration within the cooperative movement. Making educated decisions is essential to fostering SACCOs’ economic recovery in Kenya.”
“Sidian Bank aims to enhance financial inclusion and promote economic growth by underscoring the symbiotic relationship between banks and SACCOs. Through ongoing partnerships with SACCOs, Sidian Bank has developed tailored solutions to address the evolving needs of SACCO members in Kenya,” he added
The bank provides a full range of banking services that are tailored for SACCOs that consist of many trade finance options as well as payment and collection options using the industry-leading web-based bid bond application platform, Sidian Credible.
Furthermore, Sidian Bank offers SACCO employees capacity-building training courses that address new laws and trends in areas including credit evaluations, money laundering, cybersecurity, and funding of terrorism.
Along with leadership development and digital lending products, these programmes help SACCOs offer lending propositions to their members like overdraft facilities and short-term loans, all the while being on the lookout for increased money laundering activities that could jeopardise financial institutions.
KETSA Chairman Mr. Robert Njue stressed in his speech the value of teamwork and creativity in navigating the current economic environment.
He said, “To ensure our long-term success, we as a SACCO community must prioritize constant learning and adaptation. It is our duty as leaders to steer SACCOs through economic recovery while embracing innovation and digital transformation along the way.”
Sidian Bank is still dedicated to working with Saccos to embrace innovation and adjust to the constantly shifting digital environment.
The goal of Sidian Bank’s digital transformation programmes and strategic alliances is to enable SACCOs to prosper.
KBC Digital
