Safaricom Chief Executive Officer Peter Ndegwa has urged Savings and Credit Cooperative Organisations (SACCOs) to accelerate the adoption of digital technology to expand access to financial services, improve operational efficiency and respond to the changing needs of their members.
Ndegwa said digital financial solutions could enable boda boda operators, small-scale traders and other micro-entrepreneurs to access savings, credit and payment services more conveniently, as businesses increasingly embrace cashless transactions.
Speaking after paying a courtesy call to Winnas SACCO in Embu, the Safaricom CEO said the telecommunications company was ready to partner with financial institutions to develop innovative solutions tailored to the diverse financial needs of their members.
He noted that digital technology could help SACCOs connect their branches, streamline transactions and improve service delivery, enabling members to access financial services more efficiently.
Ndegwa said Safaricom offers a range of digital infrastructure and financial solutions, including connectivity, secure hosting and merchant payment services through M-PESA PayBill and till numbers, which can support SACCO operations and facilitate business transactions.
He also highlighted Fuliza and Pochi la Biashara as solutions designed to address different customer needs, including short-term liquidity requirements and the management of small-business transactions.
Winnas SACCO Chief Executive Officer Pauline I. Mwaniki said partnerships between SACCOs and technology providers were essential in strengthening service delivery to members from diverse economic backgrounds.
Mwaniki identified technology, security and innovation as key priorities in delivering financial services, emphasising the need for institutions to adapt to changing customer expectations while safeguarding members' financial information.
The growing adoption of digital financial services has increased pressure on SACCOs to invest in reliable systems and secure infrastructure to improve accessibility, efficiency, and the customer experience.
For boda boda operators, small-scale traders and other entrepreneurs, greater digital integration could reduce the need for frequent visits to physical branches, making routine transactions more convenient and saving time.
However, the transition also requires SACCOs to strengthen cybersecurity measures, protect members' personal and financial data, ensure system reliability and maintain transparent charges.
Member education will also remain important in helping customers understand and safely use digital financial platforms.
Ndegwa's call highlights the growing role of technology partnerships in modernising Kenya's cooperative financial sector, where digital solutions can help institutions reach more members and deliver services that reflect the changing demands of businesses and households.
