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NEWS ROUNDUP

GLOBAL CO-OPERATIVE DEVELOPMENT PLATFORM LAUNCHED

The Global Co-operative Development Platform (GCDP) was          The activity, facilitated by Dame Pauline Green, brought
launched on 10th October at the International Summit of Co-      together co-operative members at international level
operatives in Canada.                                            to share achievements, identify courses of action, and
                                                                 facilitate collaboration to explore future partnerships within
This followed recommendations of the pre-summit activity         international development.
“Cooperatives and mutuals in international development – how
can we do more and better together?”                             According to Dame Pauline Pauline Green: “A Global Co-
                                                                 operative Development Platform does not have the aim to
The session was organized by the U.S. Overseas Cooperative       become a development agency, but to strengthen collaboration
Development Council (OCDC) and the International Co-             between co-operative development organisations and raise
operative Alliance (ICA), within the frame of the International  visibility and knowledge about the role co-operatives play in
Summit of Co-operatives in Quebec and part of the ICA-EU         international development”. The creation of the GCDP is a great
partnership activities.                                          step forward, with ICA taking up the challenge to facilitate the
                                                                 newly launched global network.

KIMISITU SACCO LAUNCHES NEW REAL ESTATE PRODUCT

Kimisitu SACCO Limited is the latest to tap into Kenya’s booming real estate, with the launch of a financial product, to allow its
members to buy property.

The product, dubbed Makao Halisi, is set to see the members’ access houses, a move aimed at improving the lives of its members.
Kimisitu SACCO partnered with KOTO Ltd, a house development company, to construct the houses ranging from Ksh 3 Million to
Ksh 6.4 Million.

Speaking at the launch of the product held at the Desmond Tutu Hall along Waiyaki Way, the SACCO Chairperson Jane Rose
Mwangi affirmed the SACCO’s commitment towards empowering its members to improve their livelihoods.

“We intend on delivering ideal houses in a relatively short period, thus giving members convenience by way of earlier occupation
and early payback for the investment,” Mwangi says.

Mwangi urged the members to increase their deposit stressing that a member was only eligible to a loan that was 10 times of
their deposits.

In a statement, Cabinet Secretary in the Ministry of Trade, Industry and Cooperatives Adan Mohamed commended Kimisitu SACCO
for creating this product geared at supporting youths to invest wisely.

Kimisitu SACCO offers several financial products including various loans for development purchase of machinery, insurance
premiums, education and house buying.

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