NAIROBI, Kenya–A significant fundraising effort is underway to create a first-of-its-kind Academy to bring much-needed education and training to credit unions across Africa.
Called the ACCOSCA Academy (for the African Confederation of Co-operative Savings and Credit Associations), the effort is being spearheaded in the United States by Lois Kitsch, who was formerly with the World Council of Credit Unions and who has been active in credit unions internationally, and George Ombado, executive director of ACCOSCA, as well as the Africa Co-operative Development Foundation (ACDF).
Kitsch and Ombado were both present during CUNA’s recent GAC to introduce the ACCOSCA Academy to a broader audience and to raise funds for the Kenya-based Academy.
Two North Carolina credit unions, respectively, Coastal CU and Local Government FCU, have donated $50,000 each to the cause. The goal is to raise $800,000.
Plans call for 47% of the fundraising to come from Africa, with a goal of cutting the ribbon on Oct. 15 on a building now under construction. The building’s final tab is approximately $1.2-million, according to Kitsch.
In materials distributed during GAC, the backers of the project said they are “committed to directly serving African people not generally served by the formal financial sector.”
The Objective
The objective of the new Academy is to provide enhanced training across numerous areas for the SACCOs (or Savings and Credit Cooperatives, as credit unions are known) operating on the continent. There are 28 different credit union associations in Africa.
According to Kitsch, the Academy will use a blended learning style but the training will primarily be virtual, with the training including everything from the basics to lending to governance to member service and more.
“We want to provide more enhanced training,” said Kitsch, adding it will also be a place for a regulator roundtable to take place.
Curriculum is now being developed.
“The body of the curriculum is meant to viably increase capacity,” Kitsch told CUToday.info.
“There are a lot of people interested in providing training, but it has to be done through the lens of Africa.”
Empowering Lives
Overall, the aim of the Academy is to create opportunities for SACCO employees to gain knowledge, learn new skills and build confidence that they can apply in their home institutions to benefit their members, according to the organization.
Kitsch said the ACCOSCA Academy will also be a “forum for Africa’s SACCO leaders to think about how SACCOs can empower lives and build livelihoods across the continent of Africa.”
Initially, the Academy will not have any paid staff, and the strategic plan is also currently under development, Kitsch said.
Kitsch said there is significant demand for the kind of training the Academy will provide and that there will be the opportunity to generate revenues.
“Economic and social empowerment of people living in Africa profoundly depends on the financial education knowledge they acquire,” said Ombado. “I believe training on the impact and efficacy of the credit union model through the Academy to management and leadership has an enormous potential of transforming the communities in Africa by increased membership penetration of the cooperative model.”
Three Pieces of Curriculum
After Oct. 15 the Academy will roll out its first three pieces of curriculum, Kitsch said: Compliance and regulation, financial underwriting and coaching.
Other objectives of the Academy include:
- Introducing advanced technologies for reaching more audiences and sharing ideas
- Fostering a sense of pride and unity among national associations
- Presenting space for growing advocacy and convening SACCO-related organizing and regulators
- Providing a forum for addressing critical issues, solving problems and establishing best practices
- Increasing job and career potential for employees from entry level to executive
The Drivers
Others involved in the project include Angela Prestil of CUNA and David Mategwa of ACDF.
A delegation from the United States is scheduled to visit the Academy in October. That trip includes a climb to the top of Mt. Kilimanjaro that is already full, but also includes opportunities to be part of the “climb ground team” for those who are supporters of the project.
For additional information, visit www.ACCOSCA.org.