Siraji SACCO secures Sh170m World Bank Fund for SMEs

Siraji SACCO has received approval for Sh170 million in World Bank–supported funding to support small and medium enterprises affected by the COVID-19 pandemic, marking a key milestone in efforts to aid recovery and growth among its members.

The funding, administered through the Kenya Development Corporation (KDC) under the World Bank’s Safer Fund, was formally handed over during an event in Naivasha on January 23, that brought together the SACCO, its consultants, and government officials.

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The facility is intended to support micro, small and medium enterprises whose operations were disrupted by the pandemic, while also strengthening business resilience.

The Safer Fund was established to help MSMEs recover from COVID-19-related disruptions, with SACCOs viewed as effective channels for reaching businesses at the grassroots level.

Speaking during the event, AVLC Group CEO Andrew Kanyutu said the handover marked the conclusion of a process that began two years ago when Siraji SACCO approached the firm for support in sourcing funding for its members.

“The event today is a journey which started two years ago,” Kanyutu said. “We act as consultants for Siraji SACCO and other SACCOs. Siraji SACCO approached us to assist them in seeking funding for their clientele. We started the journey and today we are pleased to confirm that we have completed the journey.”

Kanyutu said the funding was sourced from the World Bank and distributed through KDC, targeting SMEs that were heavily affected during the pandemic.

“During COVID, there was a lot of damage to SMEs and micro and small enterprises. SACCOs like Siraji are one of the best avenues to reach these businesses because they are on the ground, they understand their needs and can collect feedback continuously,” he said.

He added that AVLC’s role was now complete, with Siraji SACCO taking over administration and disbursement of the funds.

Siraji SACCO Chief Executive Officer Felix Ochieng said the approval would support members across sectors and regions where the SACCO operates.

Based in Timau on the slopes of Mount Kenya, Siraji SACCO is marking its 30th anniversary this year, having been registered on December 3, 1996.

“KDC has approved Sh 170 million for us to support members affected by COVID-19. Siraji SACCO itself was affected,” Ochieng said.

He cited poultry farmers as among those hit hard by lockdowns. “We had poultry farmers with 22,000 birds ready for supply, but lockdowns stopped movement and contracts were cancelled,” he said, adding that the SACCO has been working to help farmers and businesses recover.

Laikipia County Director for Cooperative Development and Marketing Richard Washira described Siraji Deposit-Taking SACCO as a nationally operating cooperative domiciled in Laikipia County, with an asset base approaching one billion shillings.

He said the facility aligned with government priorities, noting, “The cooperative model supports government efforts to uplift farmers and SMEs.”

Siraji SACCO chairman Franklin Mwirigi thanked AVLC for its role in the process and said the funds would be directed towards improving members’ livelihoods.

“These are affordable funds meant to uplift our members’ livelihoods,” he said, while also calling for capacity building to ensure sustainability.

Responding to a media question, Kanyutu said AVLC had built a portfolio of about KSh 4 billion under the World Bank post-COVID fund, working with approximately 11 clients.

He said AVLC’s role involved mediation and ensuring documentation met lender requirements.

AVLC Group is a Nairobi-based financial services and consultancy firm offering banking, structured finance, advisory and capital solutions across East Africa.

Through its AVLC Global Consultants arm, the firm supports Kenyan SACCOs and other local financial institutions to connect with international funders by structuring proposals and guiding them through compliance and lender processes.

In 2025, AVLC supported Githunguri Dairy and Community SACCO to secure Sh 500 million from the World Bank’s Safer Fund for on-lending to farmers and micro-entrepreneurs.