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Guards’ Sacco set to give loan facilities

Fred Aminga @faminga

A national sacco for private security guards has started offering credit facilities and plans to start issuing loans using a moblie app. Isaac Andabwa (pictured), chairman of the National Service and Walinzi Sacco Society, says the outfit is banking on an estimated 500,000 strong workforce for growth.

He said that less than two months since registration, they have been able to register more than 1,000 members who can now tap the cheaper credit facilities. The sector, which is among the biggest employer in the country and characterised by low salaries, is the main reason the sacco was set up.

“We have begun a transformational journey to improve living standards of our security service men, giving them financial power to allow them focus on their mandate of boosting security for private properties and the country at large,” said Andabwa.

The chairman said due to the diverse geographical area, the Sacco will be banking on technology similar to M-Shwari to enable faster and effective delivery of services.

“Over the year we project to open at least eight regional branches across the country and opening front office (FOSA) services to members to boost convenience and deepen our service offering,”said Andabwa. The sacco is a part of the outcomes of the Private Security Industry law.

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