The Kenya National Police DT SACCO celebrated its Golden Jubilee by launching a modern Police Sacco Stadium, a project fully funded by the Society under its Corporate Social Responsibility (CSR) programme.
President William Ruto was the chief guest during the pomp and colour event to celebrate 50 years of the SACCO’s existence and commissioned the opening of the Ksh89 million stadium, a hallmark of the Society’s transforming CSR initiatives. The stadium’s construction attests to the SACCO’s commitment to making a difference in the community through service and embracing a business model that values people over profit.
The SACCO has raised the bar high in corporates’ support of promoting sporting activities and tapping and nurturing talents. The stadium, located at the Kenya Police CID Training School in South C, Nairobi, has a capacity of over 5,000 people. It has a volleyball pitch, a seven-lane athletics track, a VIP pavilion, changing rooms and lavatories.
The stadium, now Police Football Club home grounds, has greatly cut down the team’s training costs while boosting its income by hiring the facility for use by national teams and top-flight clubs. The football club is now among the few in the country that has its own stadium. Local communities will also have access to the ultra-modern sporting facility.
The stadium adds to the long list of major investments aimed at promoting sporting activities being undertaken by the SACCO, which include donating sports kits and equipment to teams such as the General Service Unit (GSU) Hockey and Volleyball teams.
“The facility is necessary to grow the talent and expertise in sports; it will not only be used by the Police Service but will also serve communities in South C. I commit that my government, through the Ministry of Sports, will provide an additional Ksh150 million to enhance facilities within the stadium,” said President Ruto.
The President commended the SACCO for “fearlessly pursuing radical but prudent strategic directions to mobilize funds for a project as unique as the modern stadium.” “Our Police Service has made an immense contribution to our athletics and sports in general in Kenya,” President Ruto said, noting that the stadium will enhance the quality training of sports people.
With about 69% of Kenyans being directly involved in co-operatives activities, the President said the 110-year-old sector significantly contributes to the national development, accounting for about 32% of the GDP.
He noted that the flexibility and affordability of loans given through SACCOs had enabled many to achieve their development goals terming the Sacco system a sustainable model which the government replicated in developing the Hustler Fund.
‘We are here as guests of a special organization, in a special sector, the Kenya National Police DT SACCO is unique because it draws its members from law enforcement officers throughout the country by injecting the discipline of our uniformed services and private sector ethos and principles, the Society has achieved impressive successes in delivering to its members,” said the President.
He noted that the giant SACCO has transcended the Police Service and brought on bond people from other sectors of the economy, steadily growing from a membership of 690 in 1972 to over 71,000 members today.
“The SACCO is a significant actor in our economy and a leader among the biggest co-operative societies in the country. To be the third largest SACCO is not a simple feat. Congratulations!” Remarked President Ruto. “It is important to celebrate this important milestone; the Kenya National Police DT SACCO, 50 years of existence, have not been in vain. We have witnessed five decades of consistent growth, incremental achievement, and transformative impact. I am sure that each of you has a story of success that is solely or significantly attributable to the Sacco,” he added.
The President announced the launch of a new Hustler Fund Micro Credit product that will be channelled through Saccos, enabling members and groups to borrow Ksh100,000 to Ksh2,500,000.
Cabinet Secretary in charge of co-operatives Simon Chelugui noted that the SACCO is a great example, and its achievements in transforming members and communities are worth celebrating.
“We must applaud the Sacco National Chairman, the entire Board of Directors and management for great stewardship of this Society. The positive results and awards demonstrate a solid organization, enhancing members’ confidence. Sustain the momentum,” Mr Chelugui said.
The SACCO has become an industry leader and centre where other African co-operatives go for benchmarking.
“The SACCO has witnessed immense growth with our total assets increasing to Ksh48.7 billion, loan book to Ksh41 billion and member deposits to Ksh29 billion,” said the Sacco National Chairman, Mr David Mategwa. He attributed the growth to carefully formulated strategies and policies anchored on good governance, membership and service excellence, diligently implemented over the years.
Being ISO 9001:2015 certified, the SACCO focuses strictly on the quality of financial solutions it offers members. Last year its national scale long-term issuer rating was upgraded to A-(KE) from BBB+ (KE) with a stable outlook by the Global Credit Rating audit firm.
“The journey of Kenya National Police DT SACCO has seen a trailblazing transformation of its systems and processes. We have leveraged on technology to enhance efficiency and effectiveness in service delivery to our members. Most of the SACCO critical products and services are fully available online,” said Mr Solomon Atsiaya, Chief Executive Officer.
The SACCO’s mobile banking platform, M-Tawi, has been a great success. About 35% of Sacco’s business has shifted online.
