TechPesa: Promoting SACCOs’s Growth Through Technology

March 21, 2024

The Association of SACCO Financial Technology Providers (TECHPESA)

TechPesa is the association of SACCO financial technology solution (FinTech) providers. It was registered in 2022 under the Societies Act with the Registrar of Societies. TechPesa brings together all financial technology providers in one place and is guided by a constitution that emphasizes on professional service delivery, focusing on professionalism, best practice, fair and ethical behavior, and goodwill and faith for the growth, development and well-being of the SACCO sector.

What are TechPesa’s objectives?

Techpesa is guided by the following objectives as captured withing its constitution:

To serve as a self-regulatory body for SACCO financial tech providers.
To advocate for the common interests of both SACCOs and financial technology providers.
To promote the growth and sustainability of SACCOs through the use of technology.
To foster and encourage proactive partnerships and collaboration among its members whenever they are involved in joint projects.
To promote innovation and increased value provided by financial technology products.
To serve as a one-stop-shop for engagement with financial technology providers on matters of industry interest.
To provide an avenue for SACCOs to give feedback on commendations or concerns regarding their vendors
To intervene when SACCOs may be in a fix as a result of a registered vendor’s mess

Techpesa has had successful and proactive engagements with industry stakeholders among them the Ministry of Cooperatives MSME Development, Cabinet Secretary Office, Office of the Principal Secretary, SASRA, Office of the Commissioner of Cooperatives, Office of the Data Commissioner, KUSCCO, Cooperative Bank of Kenya, Cooperative Alliance of Kenya (CAK), KETSA, KAFOSA, and SACCO ICT Professionals Association whom have all positively welcomed Techpesa and commended its formation and mission in the industry.

Membership, onboarding and Certification process.

Membership in TechPesa is on voluntary basis. Fintech companies willing to join in to Techpesa’s membership would make an application to the secretariat who would guide the firm through the application and registration process. This application process entails a thorough vetting of the applicant firm against the minimum requirements. Some of the key areas of focus include finding the registered name of the organization and its directors, shareholders and its governance structure, an evaluation of their human and technology capacity for suitability, compliance with data processor/controller certification, tax compliance, registered office location, insurance policy for professional indemnity & fidelity guarantee, proof of annual full ICT audits, recommendations from at least three regulated firms with whom the member is working among several others.

Successful firms are then taken through an induction / orientation to the association which culminates with the issuance of a certificate of membership which is renewable every year upon re-evaluation. In addition to the certificates issued, the names of the registered and vetted firms is continuously published on our website www.techpesa.co.ke

TechPesa has a broad focus on engaging with key stakeholders with the aim of providing its professional opinion and contribution to technical, business, policy and governance matters, such as the establishment of the SACCO central and the subsequent Shared Services initiative for SACCOs and the combat of cyber threats and attacks. Techpesa is also keen to listen and collaborate with the SACCOs and other industry players in a bid to support the growth and development of the SACCO sector.

If you desire to engage Techpesa for whichever purpose, you may get in touch with us through the below contacts.