GROWTH
Africa’s Agenda 2063: Key Contributions by Kenyan Saccos By June Njoroge.
pledges towards this goal.
‘
Agenda 2063: The Africa We want,’ is Africa’s blueprint and master plan, for transforming Africa into the global powerhouse of the future. It is the continent’s strategic framework that aims to deliver on its goal for inclusive and sustainable development, repositioning Africa to become a dominant player in the global arena. It encapsulates not only Africa’s aspirations for the future but also identifies key flagship programmes which can boost Africa’s economic growth and development, leading to the rapid transformation of the continent. It also identifies key activities to be undertaken in its 10 year implementation plans, which will ensure that it delivers both quantitative and qualitative transformational outcomes for Africa’s people. Agenda 2063, is the vision of Africa’s future of a shared prosperity through social and economic transformation; founded on seven aspirations as key vehicles to its realization. Under each aspiration are key goals and priority areas to aid in implementation. Co-operatives have been playing a pivotal role towards the realization of the agenda through several aspirations. Africa has 37.8 million Sacco members, mobilizing savings of over $10.6 billion and $11.7 billion in loans. New data from the World Council of Credit Unions(WOCCU) shows that Africa had the second largest increase in membership, at 143%, with Latin America coming in first at 153%. Kenyan Saccos registered a 14.2% growth in membership, which catapulted the sector to scoop the membership growth award from WOCCU. Kenyan Saccos have been in numerous capacities contributing to the achievement of Agenda 2063; as it boasts of the largest Co-operative movement in the continent and ranking 7th globally. The Council’s new data indicate that Kenya has 8.5 million members drawn for 8,033 Saccos, with an asset portfolio of Kshs 1 trillion.
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SACCO TIMES | DECEMBER 2020 - JANUARY 2021
Under the first aspiration of the agenda: A prosperous Africa based on inclusive growth and sustainable development; Cooperatives in Kenya have embraced its key goals of poverty eradication and creation of employment. The Ministry of Trade, Industry and Co-operative Development estimates that 80% of Kenya’s population derives their income either directly or indirectly through Co-operative activities. In addition, the sector employs more than 500,000 people whilst necessitating selfemployment especially through lending. Transformed economies is another goal under aspiration one whereby, Saccos have greatly boosted the economy through economic diversification and resilience bolstering key industries such as manufacturing and industrialization. Co-operative make up about 45% of Kenya’s Gross Domestic Program (GDP) with an asset base of over Kshs. 1 trillion, mobilized savings and deposits in excess of Ksh 732 billion and a loan portfolio of 700 billion. Modern Agriculture for increased productivity and production, is a goal under the first aspiration, which especially agriculture-based Co-operatives have been spearheading, to increase food production enabling the continent to feed itself whilst exporting. Environmentally sustainable and climate resilient economies and communities; is another goal under the aspiration, which further supports the Sustainable Development Goal (SDG) 13 by the United Nations on Climate Action.Co-operatives have been championing for environmental conservation with many having taken
In reiteration the theme for this year’s international co-operatives day was,’Coops for Climate Action’, where critical conversations were held and feasible solutions formulated by Co-operatives in their capacity to mitigate the global climate change crisis. Health and nutrition is another goal under the aspiration, which Saccos have been responding to, by offering quality health insurance services to their members. Education and Skills Revolution Innovation(STI) is another goal; which Co-operatives have been trying to address, through disbursing education loan products to their members enabling them to educate their children in different levels, at institutions of choice and especially enrolling them to tertiary institutions. Under Aspiration six: An Africa whose development is people driven, relying on the potential offered by African people especially its Women and Youth, and caring for Children; Saccos have made significant developments. A key goal under this aspiration is youth empowerment; whereby Saccos have been very accommodative of the youth into the movement. The Sacco Societies Regulatory Authority (SASRA) conducted a demographic study released in 2019, which debunked the notion that Co-operatives, have no place for the youth. The report revealed that the youth comprised of a third, of the total 4.97 million Sacco members across the 174 Deposit – Taking (DT) Saccos. The age bracket 25 and 35 years accounted for 23.46% of the total individual membership, coming in second after the 36- and 50-years age group who accounted for 28.88%. Co-operatives have been in their own capacity empowering the youth with skills to make them more productive and employable in their work environment. Agenda 2063 is achievable, with Cooperatives involvement as evidenced by Kenyan Saccos.
