Siraji SACCO has received approval for KSh 170 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.
“This handover marks the conclusion of a process that began two years ago when Siraji SACCO approached the firm for support in sourcing funding for its members,” said AVLC Group CEO Andrew Kanyutu.
The world bank set aside the business loans kitty to support SMEs that were adversely affected economically at the height of the covid 19 and are channeled through AVLC in Kenya with five saccos already in the channel to benefit from a loan that has a grace period of between 3-5 years at a 9% rate.
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.
“SACCOs like Siraji are one of the best avenues to reach these businesses because they understand their needs and can collect feedback continuously,” said Kanyutu.
This comes in as a remarkable boost to the Sacco at a time where businesses are grappling with changing economic trends, the beneficiaries stating that this empowerment is a major boost towards financial restoration of its members.
“The approval will go a long way in ensuring we support members across sectors and regions where our SACCO operates,” Said Siraji SACCO Chief Executive Officer Felix Ochieng.
The AVLC group CEO called on other saccos in the country to avail themselves for consideration to boost their credit products.
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.
Kunyutu added: “This handover marks 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 world bank set aside the business loans kitty to support SMEs that were adversely affected economically at the height of the covid 19 and are channeled through AVLC in Kenya with five saccos already in the channel to benefit from a loan that has a grace period of between 3-5 years at a 9% rate.
“SACCOs like Siraji are one of the best avenues to reach these businesses because they understand their needs and can collect feedback continuously,” Kanyutu noted.
This comes in as a remarkable boost to the Sacco at a time where businesses are grappling with changing economic trends, the beneficiaries stating that this empowerment is a major boost towards financial restoration of its members.
“The approval will go along way in ensuring we support members across sectors and regions where our SACCO operates,” Said Siraji SACCO Chief Executive Officer Felix Ochieng.
The AVLC group CEO called on other saccos in the country to avail themselves for consideration to boost their credit products.
