CANAAN MULTIPURPOSE COOPERATIVE SOCIETY LIMITED LTD. - Nairobi

Mission and Vision

Canaan Cooperative Vision

“Provide access to resources to deliver up-market development projects within Africa that support the economic and social capital of the local communities hence alleviating poverty and generating economical upward mobility participating in the overall gross domestic product.”

Canaan Cooperative Mission

“Provide resources and expertise in delivering large scale national development projects that will directly impact in the community’s social and economic capital to eradicate poverty, economic deficiencies, create wealth for its share holders, stake holders and provide an avenue where all people can have self reliance in meeting the millennium development goals.”

Goals and Objective

We support Businesses, Churches,  

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Organization and Financial groups both at lower, middle and upper levels leverage on the Canaan cooperative resources and balance sheet to access adequate, financial services, Investment services and project financing as equity or debt depending with the enlargement vision that the intuition or individual have and their ability to pay back the loan.
At Canaan we build people and draw them to wealth actualization. With our unique model we stand different because we bring a new business model, different from the traditional Sacco and Microfinance Institution.
The cooperative incorporates the client activities from inception to completion where we walk with you step by step to achieve your business interest and outcomes.

How our Cooperative works

Members are encouraged to save towards a particular project vision in order to achieve long-term benefits that impact on their livelihoods. This can be done through mutual venture benefit or capital investment that we acquire from International Partners, Current Share holders and our local Bank Cooperative Bank of Kenya.
We also offer adequate training and project planning to assist our customer meet strategic objectives and design appropriate business plans that are achievable both in the short-term and long term depending with their project and financial inclusion terms.

What we do not do
We do not encourage our members to deposit cash without a formal project plan or feasible business plan approved by us. All members have to undergo a due diligence whether with complete funds to establish capability in ability to pay and adequacy for collateral. Canaan is a complete venture and investment cooperative and does not offer any charitable fund in any way.

Below read information on our objects of the society of what we are mandated to do with the Ministry of Cooperative Development.

Objects of our Society

The objects for which the Society is established are:

Promote Welfare:
To promote the welfare and economic interest of each member through viable investments and commercial undertaking in accordance with the co-operative principles and prevailing laws. In this regard, the society may invest in securities of Nairobi stock exchange.

Promote thrift among Members:
To promote thrift among its members by affording them an opportunity for accumulating their shares and deposits and to create thereby a source of funds from which loans can be made available to them for the purposes of providence or production or both at a fair and reasonable rate of interest.

Complementary Savings and Credit Services
To offer the member’s complementary savings and credit services and other financial products such as front office services or withdrawal savings/ deposits accounts as may be required by members. In this regard, the society may establish FOSA activity subject to approval of General meeting and commissioner.

Acquisition of Properties
To acquire movable and immovable properties such as land, buildings or vehicles for the purpose of enhancing income for the society. The properties may also be sold to members at subsided prices.

Marketing Opportunity
To arrange for the purpose and resale of farm produce, Animal and Animal products, materials, machinery and other merchandise of members provided that the society may carry out such activities on such terms and conditions as agreed upon by members at general meetings. The society may engage in import / export business if the situation warrants.

Value Addition:
To add value to members produce in order to fetch better prices in the market.