We have specially tailored services and products designed to benefit our members and affiliates, who are drawn from the cooperative movement in Zambia. Some of the products and services we offer SACCOs in Zambia include
Advocacy and spokesman ship – NASCU plays a strong advocacy role with government on behalf of Cooperatives. NASCU works to ensure all regulations do not stifle the development of Cooperatives with the country. This is a continuous role for NASCU to advocate for Cooperative-friendly legislation as regulations are always evolving.
Capacity building and training
In order to enhance the efficiency and effectives of the governance and management structures of all Cooperatives in the country at all levels, various training programs are conducted targeting Cooperative Board of Directors, Management team, Co-op technicians and accounts clerks. Model countries with a thriving and vibrant Cooperative sector such as Kenya, Rwanda and Uganda, have prioritized training and skilling of all personnel involved in the management and operation of Cooperatives.
Raising awareness
The levels of penetration of the Cooperative sector in Zambia are extremely low at 5% of the population, compared to other countries like above 63% in Kenya and an average of 53% elsewhere across Africa. NASCU therefore undertakes cooperative awareness campaigns throughout the country. As government propagates for youth job creation and financial inclusion, the organization places itself as the best vehicle to spearheading vigorous cooperative awareness campaigns as one of its mandate to create an appetite for sustainable cooperatives.
Coop Insurance
Cooperative members are always in need of insurance services to meet the uncertainties of life. NASCU offers Cooperative member insurance at the lowest premium percentages that are affordable to every member because of the strength in numbers.
Audit Services
NASCU offers audit services to its member affiliates at concessional rates by taking advantage of the strength of numbers.
Bridging finance (Central Finance Facility Loans) to Cooperatives
through funds sourced from member affiliate savings in shares, government grants and loans, and other financiers into the central finance account, and in turn NASCU lends out to member cooperatives to meet their shortfalls
Standardization of Cooperative Practice
NASCU ensures that all Cooperatives generally follow similar procedures and processes in their operations as guided by the international Cooperative alliance just like any other regulated sector such as Banking and Insurance sectors.
Research, Consultancy Services and Resource Centre
NASCU recognizes the indispensable need for research to be conducted in the various aspects affecting the Cooperative sector..
Inspections and Compliance
In collaboration with the Registrar of Cooperatives undertake regulatory inspectional functions to ensure that all Cooperatives are characterized by Transparency, Confidence, Trust, safety, and Comfort of their members and prudential ratios. All Cooperatives are required to adhere to the following provisions under the cooperative societies Act as; holding of Annual General Meetings, Auditing of Books of Accounts, Annual Returns Submission, and Maintenance of cash reserves to meet member withdrawals.
Representation
- it is the mandate for NASCU to represent all SACCOs in Zambia at both local and international forums in the quest to promote inclusiveness.
SACCO Magazine
As part of disseminating SACCO information to the public within Zambia, NASCU publishes a booklet called SACCO magazine. A platform with constant information about the cooperative movement and its impact in the community. SACCOs and other stakeholders are free to publicize information about themselves at a fee.
Risk Management Services
NASCU undertakes risk management services to help their members avoid investing in ventures that could cost their organizations.
Development of the Cooperative Sector
It is NASCU’s mandate and priority to invigorate inactive Cooperatives and also to help create new ones. NASCU also works hand in hand with informal groups such as Village Banks, Savings groups, ASCAS, OSAWEs to transform them into formal financial cooperatives to minimize on risks and stimulate growth. In addition, NASCU coordinates the compilation and collection of statistical information from Cooperatives in order to study trends within the movement.