Kenyan Women in Diaspora Use Facebook to Create a Ksh 60 Million SACCO in a Year

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In the wake of the Cambridge Analytica scandal, the #deletefacebook movement has been gathering momentum. Tesla and SpaceX chief Elon Musk, together with WhatsApp co-founder Acton are some of the well-known figures to have deleted facebook.

All is not lost for Facebook, however as a group of Kenyan women has utilized the social media platform to create something many find too difficult, if not cantankerous, to achieve.  Last year, through Facebook, a group of Kenyan women in Diaspora connected to explore ways in which they could together, harness resources for a common mutual project. The conversations eventually led to the formation of a Sacco which they named Kenya North America Diaspora Sacco (KNADS). Using Facebook, an initial group of 8 women communicated this idea to their friends and networks and today, KNADS is 700 member strong-and growing.

Having raised over Ksh 60 million in a span of less than a year, the sky looks like their only limit, for now. K-NADS prides in providing a platform for women in diaspora where they can securely invest back home in Kenya. Their guiding principle is to harness their collective power as women in Diaspora: to save, invest, and build a future in Kenya.

The Sacco hopes that by investing in Kenya, in addition to providing the much touted economic remittance, the projects undertaken will also create jobs as well as skills transfer from Diaspora to Kenya.

Many women who are already members of the Sacco who African Warrior Magazine spoke to, touted the culture of saving as one of the many reasons KNADS is an idea whose time has come: “At times you end up spending $50 in meaningless stuff. But by putting it away as a saving, that is a seed that will one day bring a good harvest” notes Wacu Ndirangu, one of the founding members.

K-NADS is officially registered with the offices of the Commissioner for Cooperatives and Industrialization in Kenya.

While the original idea of K-NADS was crafted by women living in America, today, membership is drawn from the 23 countries that constitute North America.  The SACCO is now  owned and governed by members who all share in the slogan “No Woman Left Behind.”

As required for  all SACCOs registered under the Ministry of Co-operatives to hold an Annual General Meeting( AGM), KNADs members trooped to Los Angeles, California for the first AGM meeting. Surrounded by the allure of Hollywood and the warmth of California-the Golden State- the AGM served to not only fulfill a by-law, but also presented an opportunity for women to connect and meet for the first time away from the social medial platform. Facebook should be very much proud of this!

Also Read32 most inspiring Kenyans in the Diaspora

For KNADs, each member is required to contribute 5 shares worth Ksh 5,000 upon registration (Each share is worth Ksh 1000). Aftrer registration, a member can buy as many shares as one can afford, but so long as this does not exceed 1/5th of all the shares that KNADS is worth.

Also ReadKenyan PhD Student Feted For Outstanding Dissertation, Raises Ksh 125 Million For Research

PS: African Warrior magazine is working on a project to feature the MOST INSPIRING 45 WOMEN IN AMERICA DIASPORA. Details coming soon. For inquiries, send us an email info@awmagazine.org

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