Sidian Bank has announced its platinum sponsorship of the Kenya Teachers Sacco Association (KETSA) for the upcoming 3rd Annual Leaders’ Summit. Contributing a Kes 1 million cheque to KETSA.

KETSA unites 45 Saccos that were traditionally teacher-based but have now broadened their common bond, aiming for greater inclusivity and impact within the cooperative landscape. This year’s summit, dubbed Economic Resurgence for Saccos through Strategy and Innovation is scheduled to take place from February 28th to March 3rd, 2024, at Lake Naivasha Resort in Naivasha. The event aims to discuss and strategies to revitalize the cooperative movement, particularly focusing on Saccos’ growth, sustainability, and innovation.

Speaking at the cheque handover ceremony, Chege Thumbi, CEO of Sidian Bank, expressed his enthusiasm for the partnership, stating, “At Sidian Bank, we recognize the pivotal role Saccos play in financial inclusion and economic empowerment, especially among educators and other professionals. We are proud to be the Platinum Sponsor of KETSA’s 3rd Annual Leaders’ Summit, and we look forward to collaborating with KETSA and its member Saccos to drive positive change and innovation within the cooperative sector.”

The Chairman KETSA, Robert Njue also shared his sentiments on the collaboration, saying, “We are delighted to have Sidian Bank as our Platinum Sponsor for this year’s summit for the 5th year in a row. Their support emphasizes their commitment to the cooperative movement and will significantly contribute to the success of our event. Together, we aim to explore new strategies and innovations that will propel the economic resurgence of Saccos and drive sustainable growth within our communities.”

Among the solutions that the bank has tailor made for Saccos include the digitization of the cheque clearing process by availing Saccos with remote cheque scanners allowing them to digitize and process cheque payments without physically transporting the paper cheques to a bank branch, expediting the cheque clearing process, reducing costs while maximizing security.

Sidian through its Mobile banking platform and App –Sidian Vibe has enabled members of Saccos that are not deposit taking to access inexpensive emergency mobile loans within the touch of a button. The bank continues to invent new ways to be of service to the cooperative societies as it seeks to grow its customer base in this sector from the current 100 cooperatives to over 500 cooperatives this year.

The 3rd Annual Leaders’ Summit will bring together thought leaders, industry experts, policymakers, and stakeholders to exchange insights, grow collaborations, and chart the course for the future of the cooperative sector in Kenya.

By Fred Azelwa.