The urgent need for financial literacy of member cooperators, competent finance managers, plus accurate, reliable, and timely financial systems cannot be overstated. Our Fanaka Finance company was set up to provide financial services that answer these concerns for cooperatives with the following products and services at your cooperative’s disposal.
Our Credit Products
Piki Credit – A transport cooperative credit facility first piloted with the Kampala Civic Center Boda-Boda Transporters Cooperative Society Ltd, has grown to become an opportunity for all transport cooperatives.
Soko Credit – There are very many women vending fresh vegetables, groceries, textiles, crafts, etc. who toil every day in various markets and on the side streets to feed and educate their children singlehandedly. Sokoni financing targets such women with hope through their informal savings groups and primary cooperative societies to access just a little more capital and break even.
Kilimo Credit – Many cooperatives members are stuck with unscrupulous middlemen and streetwise money lenders often pushing them out of business through crazy interest rates. Kilimo agro-marketing finance targets cooperatives and informal community groups to boost their capital to markets for their farm products.
Upon joining the Coop360Network and initial discussions, facilitating capacity self-assessment, we offer initial leadership training, then negotiate and enter an agency agreement with your cooperative. This agency agreement guarantees access to business opportunities providing services to members and agency commission to their cooperative for every business brought in.
Financial & Legal Literacy
We provide financial literacy training and advisory services to cooperative members, managers, and committees of cooperatives in the Coop360Network. This enables members and committees to understand annual audits, management, and supervisory committee reports. We also provide legal literacy training and support services, so that every decision taken by the cooperative is in compliance with the law and regulations.
Many cooperatives are stuck with large sums of money that are invested in subsistence-type credit to members only. Some keep their funds in very risky places such as in a metal box under the treasurer’s bed. They miss opportunities for local regional and international investments. We will provide fund management services to guarantee value for money returns investments and high-quality risk management strategies to your satisfaction.