Co-ops give members 'the ability to help yourself'
On any normal business day, in cities around the world, shareholders in various enterprises gather to discuss their mutual business interests. They have name badges and pocket folders with company logos, and while they squint at PowerPoint presentations filled with graphs and arrows, they talk about year-end projections and bottom lines.
A different kind of shareholders meeting happened on a January morning in 2017 in Nairobi, Kenya. This one didn’t take place in a downtown high-rise or an airport hotel, but at a Franciscan retreat house. Instead of three-piece suits or business casual, those who attended wore bright yellow shirts embroidered with the Swahili words “Uwezo wa Kujisaidia.”
That phrase, meaning “the ability to help yourself,” points to the real difference between this shareholder meeting and others. These participants, most of them women, weren’t concerned about their portfolios. They were concerned, that day as every day of their lives, about survival.
The women were delegates from small community groups that combined to form Unbound SACCO Limited, a savings and credit cooperative begun in 2014. They were there to launch their new corporate five-year plan. While that might be reason enough for any group to celebrate, for them it meant the next step on a long, hard journey out of poverty toward self-sufficiency.
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