SACCO & microfinance
Covadesk runs a SACCO end to end: member onboarding and KYC, BOSA and FOSA savings, loan origination with guarantors, arrears and provisioning, dividends and SASRA returns — on the same ledger as your payroll, procurement and fixed assets.
Built for: Deposit-taking and non-withdrawable SACCOs, employer-based and community SACCOs, and microfinance institutions in Kenya and across East Africa.
The problems we solve
When arrears live in a spreadsheet, PAR 30 is a quarterly surprise. Covadesk ages every loan daily and shows the book’s headroom against the regulatory ceiling on the dashboard.
Deposits pledged behind one loan must not secure another. Liens are held against the member’s savings, so what is pledged is never counted as free to lend.
SASRA prudential returns and CRB submissions are produced from the loan book and the ledger, not retyped from a dozen reports.
Staff payroll, supplier payments and fixed assets sit in the same Covadesk ledger, so the SACCO’s own accounts close with the member accounts.
See it in action
Real Covadesk screens, shown with sample data.
What members hold, what the society has lent, and what is not coming back on time — with PAR 30 against the ceiling.
Every loan with its grade, arrears, security and provision.
Shares, deposits, pledged amounts and arrears for every member.
One loan opened up: what the member received after fees, what is owed and overdue, the grade and provision, and the guarantors whose deposits stand behind it.
The quarterly prudential return generated off the ledger, with every ratio’s numerator and denominator shown and any breach named.
Features
Every member’s position on one screen — what they hold, what they owe and what they have pledged behind other people’s borrowing.
Savings products with their own rules, interest and withdrawal terms, and the lien that stops pledged deposits leaving.
Applications move from submitted to appraised, guaranteed, approved and disbursed, and each step is a recorded decision.
The board sees what the society has lent, what is late and what must be provided for.
Year-end and regulatory work generated from the records, not reconstructed from them.
How it flows
Capture the member, collect KYC and open their share and savings accounts.
Deposits post to BOSA or FOSA accounts, by cash, bank or M-Pesa.
The member applies; eligibility is computed and guarantors pledge their deposits.
Approvals route by value; disbursement posts to the ledger and starts the schedule.
Repayments reduce the balance; anything late is graded and provided for.
Dividends, SASRA returns and CRB files come straight from the books.
Modules included
Member-based savings and credit institutions.
Switched on by the pack from day one, on top of the backbone below.
Members, savings and loans — with SASRA returns built in
The same core modules run across every industry, so purchasing, stock, sales, accounts and people share one database and one version of the truth.
Buy with control, from requisition to supplier payment
One stock figure that finance and the store agree on
Quote, sell, invoice and collect in one flow
A general ledger every module posts into as it happens
Your people, their records and their requests in one place
Kenyan payroll that is right the first time
A fixed asset register your auditor will sign
Get orders out of the gate and onto the road
Answers across every module, without exporting to Excel
Connected to the systems Kenyan businesses depend on
Any other module can be switched on for your organisation — same data, nothing to re-implement.
Compliance
Questions
Yes. Savings products are configurable, so a SACCO can run BOSA deposits, FOSA ordinary savings and other products side by side, each with its own interest and withdrawal rules. Deposits pledged as guarantees are held under lien and excluded from the available balance.
Every loan is aged by days in arrears and graded Performing, Watch, Substandard, Doubtful or Loss. PAR 30 is the balance of loans more than 30 days late as a share of the gross portfolio, shown against your regulatory ceiling. Provision is computed per grade on the balance net of security.
Covadesk produces the SASRA prudential return data — portfolio quality, provisioning and the supporting figures — directly from the loan book and general ledger, so the return reconciles with the accounts.
Yes. Covadesk integrates with M-Pesa through Daraja, so C2B payments are received and matched to the member’s account automatically.
Yes. Each organisation’s rows are isolated with PostgreSQL row-level security, and member identification numbers are redacted in the audit log.
Book a 30-minute demo. Bring a real problem — a stock variance you can’t explain, a payroll run that takes three days — and we’ll show you how it works in Covadesk.
Prefer to talk? Call +254 117 390 922 or email info@fecn.co.ke
