The Kenya National Private Security Workers Union (KNPSWU) recently launched the Walinzi Savings and Credit Cooperative (SACCO). This initiative is designed to provide banking services and savings opportunities to security guards across the country, addressing their economic needs and enhancing their welfare. Despite facing challenges in their quest to force the Private Security Regulatory Authority (PSRA) to impose a gazetted minimum salary, the union remains determined to uplift the livelihood of security personnel through this new venture.
A Response to Economic Challenges
The launch of Walinzi SACCO comes as a strategic response to the economic struggles faced by many security guards. The decision to create this cooperative was motivated by the failure of the KNPSWU’s efforts to compel the PSRA to enforce a Ksh 30,000 minimum salary for security workers. Despite their push for better wages, which was backed by a legal gazette notice, the move was met with resistance from both the government and private security employers. This setback highlighted the need for alternative means of economic empowerment for the sector’s workforce.
Through the Walinzi SACCO, the KNPSWU aims to provide a sustainable solution for security guards to save, access loans, and invest safely. The partnership with the Kenya Commercial Bank allows members to enjoy banking services, including deposits, withdrawals, and other financial transactions, directly through the Sacco. This partnership not only ensures convenience but also promotes financial literacy among security workers, enabling them to manage their finances more effectively.
Economic Empowerment Through Membership
The KNPSWU has been vocal about the benefits of joining the Walinzi Sacco. Dr. Isaac Andabwa, the Secretary General of KNPSWU, emphasized the importance of economic solidarity among security guards. During the launch, he urged all security personnel to join the Sacco, warning against the temptation to join multiple Saccos, which is prohibited by the Sacco Societies Regulatory Authority (SASRA). Andabwa highlighted that such actions could lead to financial losses due to fraudulent and unreliable investment schemes that threaten the security of members’ savings.
By joining Walinzi Sacco, security guards are expected to benefit from collective bargaining power, better access to credit, and support for saving. This initiative also aims to offer members financial literacy programs to educate them on budgeting, investing, and saving effectively. The Secretary General stressed that the Sacco would help members build a safety net for their families, especially in times of unemployment or economic hardship.
Collaborative Efforts for Impactful Change
The establishment of Walinzi Sacco under the Cooperatives Societies Act Cap 490, originally founded on January 27, 2017, marks a significant milestone for the KNPSWU. With over 700,000 members from Kenya’s private security sector, the Sacco is well-positioned to become a powerful force for change within the industry. The Ksh 1 million obtained through collaboration with KCB is expected to serve as a catalyst for growth and development within the Sacco, providing financial support to members and enhancing their economic wellbeing.
The launch of Walinzi SACCO is not just about banking services; it represents a broader commitment to improving the livelihoods of security workers across the country. The KNPSWU’s efforts to empower its members reflect a proactive approach to addressing the socio-economic challenges faced by this sector. By focusing on financial inclusivity and providing a secure means for saving and investing, Walinzi Sacco is paving the way for a brighter economic future for security guards in Kenya.
As the Sacco gains momentum and more members join, it is expected to significantly influence the economic landscape of the private security industry. The KNPSWU’s vision for Walinzi SACCO is to become a model of economic empowerment that other sectors can replicate. The union’s commitment to ensuring that security guards benefit from fair wages and safe financial services is crucial in enhancing their dignity and well-being in the workforce. Through initiatives like this, the KNPSWU is not just advocating for better pay but actively transforming the lives of the security personnel they represent.
Conclusion
The launch of Walinzi SACCO by the Kenya National Private Security Workers Union is a landmark development for the country’s security sector. It represents a collective effort to provide economic stability and empowerment for security guards who often work in challenging and insecure conditions. As more members join the Sacco and benefit from its services, it is expected to set a precedent for economic support in other sectors. The KNPSWU’s initiative is a testament to the power of collective action and strategic partnerships in addressing the needs of vulnerable workers, paving the way for a more equitable and secure future for security workers in Kenya.
