Akili Development Savings and Credit Co-operative Society Limited (Ltd) – (ADS), was formed on October 28,
Why We Exist
Akili Development Sacco exists to enhance the lives of its members holistically, with a keen focus on their economic empowerment. We do this by providing quality financial services through mobilization of resources in an environment of accountability and prudent investment.
The Society also aims to invest in agricultural value chains that benefit rural smallholder communities. We do this by supporting value chain linked production through pre-financing of inputs to member farmers.
We seek to work in partnership with social investors, donors, and government; provide the tools and assistance necessary to implement sustainably profitable, value-adding programmes in rural communities.
Our Accomplishments since 2014
Training / capacity building of farmers on “Farming as a Business” and general business training for our non-farmer members.
Product Purchase Finance
for energy saving products
Value Chain Financing
Inputs provisioning for farmers engaged in pilot rollout of Spinach Dehydration project in partnership with affiliate Akili entities
Investing in Agricultural Opportunities
The Sacco has facilitated members to make investments in agricultural opportunities through our co-investment product.
The Management Team
A board governs the sacco. It is ran by a Chairperson, Vice Chairperson, Secretary, Treasurer, and a Patron who is responsible for holistic development & resource mobilization.
FAQs: Individuals Vs Group Benefits
Individuals Vs Group Benefits
As a member of a group, will I also have an individual account with the
Yes, each individual member of the group will have an individual account, and the group will also have a group account
Can I borrow as an individual?
What are some of the benefits to the individual?
– The individual enjoys all the benefits of being an individual in the
– Savings in the group will be individually isolated through the personal account
– Individuals can borrow and gain security from a group
– The individual can also invest in the investment club
What are some of the benefits to groups?
The group can benefit from group loans secured by the savings of the individual members of the group
Joining the Sacco
What is the procedure for Joining ADS?
Step 1: Fill a membership application form. The membership committee meets monthly to review and approve applications
Step 2: If approved, the group will pay a minimum entrance fee as share contribution
Am I eligible to join Akili Development Sacco?
Individuals are eligible to join the Sacco on invitation from an existing member.
Registered groups are eligible to join the Sacco
The group needs to be committed to Agricultural value chains or related enterprise.
Is my group eligible for a loan?
The group must have group savings and member savings accrued over 6 months from joining the Sacco
The group needs to e committed to attending training in order to qualify for a loan
What does my institution/group need when applying for a loan?
The group will need to fill a loan application form and submit it for vetting.
The group will need guarantors (from among the members) when applying for a loan
The loans committee will evaluate all loan applications and reserves the right to reject applications with
How much loan can my group qualify for?
Savings accrued will determine the total loan amount that the group qualifies for. Group loans can be for up to 3 times the amount of savings
Can our group apply for more than one loan?
Yes, your group may apply for a top-up loan while servicing another loan
Qualification for a top-up loan depends on servicing of
What is the current interest charged on loans?
The current interest charged on loans is 12% per annum. This interest rate is reviewed annually based on the prevailing market trends.
If our group clears a loan before its completion date, will we be required to pay interest for future periods? No, once a loan is settled, no further charges apply for future periods.
Withdrawal From the Sacco
How do we withdraw our savings/shares from the society?
Savings can be withdrawn through an online/MPESA transaction. To withdraw shares from the society, the member (group) can sell shares to other members
How is the Sacco run?
– The membership committee
– The vetting committee
– The credit committee
– The investment committee