Empowering African Businesses

Online Sacco launches in Kenya

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By Paul Arithi

A new savings and credit facility powered by mobile technology has been launched in Kenya.

Homepesasacco is a licenced sacco and enables members to register on its website www.homepesasacco.com  to save and borrow. The sacco is owned by Nairobi based Innovation Holdings Limited.

Homepesa sacco has announced plans to cultivate a culture of saving among Kenya’s youths for future growth.

The firm’s CEO Dennis Satia said internet and mobile-based savings and credit access will stimulate development through savings and investment.

The platform ensures faster savings, with short code provided to members who have no access to Internet through their mobile phone.

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Members make their contributions using m-pesa and Airtel money or via credit or debit cards from anywhere in the world.

Homepesa sacco – a carrier sacco ,enables other Saccos,  companies or churches to register with their members and enjoy the convenience of the digital sacco. All they need to provide is the entity’s registration certificate and certificate for verification purposes.

Satia is 27 years who, besides coming up with homepesa sacco, has three other business solution innovations for example a diaspora money transfer system that connects all global banks straight to MPESA through their website application www.homepesa.com , and another educational platform that aims to raise educational standards of the country by providing exams papers from top primary and secondary schools for downloads at a manageable fee through the website www.homepesaschools.com

“In six months’ time we are looking forward to having 50,000 new registrations,” he said during the launch.

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