Women Advancement Trust Savings and Credit Co-operative Society (WAT-SACCOS) was established in 1997 and registered in January, 1998 under the Registrar of Co-operatives.
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Housing finance is all about getting money to people who wants to build. WAT vs Housing Finance.
Since the overall objective of WAT is to empower low and middle income communities particularly women to participate fully and effectively in all aspects of human settlements development.
Shelter Loan Revolving Fund (SLRF)
The Shelter Loan Revolving Fund (SLRF) was established in 1999 following the provision of a start-up fund from Rooftops-Canada/CCA to set a small loan facility for housing development. To date SLRF has granted several loans.
Program purposes
The Pilot Housing Micro Finance Program is designed and structured to provide small housing loans to Housing Co-operatives/groups for the purpose of surveying and acquiring land and plots, implementing infrastructure, constructing and up grading houses, all in an incremental process.
Program Principles:
Incremental development
Small loans
Short term loans
Roll-Over loans
UPATU functioning
Common progress for the construction of all units in one UPATU group
Loan security is provided through one or a mix of the following:
members compulsory deposits
joint member?s responsibility within the UPATU group
co-operative (mother organisation) funds and mortgage over the properties
land, material and houses
Loan granted on titled land or to register plots or piece of land.
Targeted groups
The three following Co-operatives/Groups are identified as potential borrowers for the first years of the Pilot Program:
- Nalamakazi Housing Group
- Bandari Housing Co-operative and
- Hanna Nassif Community
Institutional arrangement and group functioning
Loans are granted to UPATU Groups through a Parent organisation (most the time a Housing Co-operative) ? UPATU groups should be composed of 5 to 6 members applying in block for a loan and being jointly responsible for its repayment. Larger Groups could be considered if it was formed prior to the release of the present policy.
Within each UPATU group all members are developing their units at the same time.
Women Advancement Trust Savings and Credit Co-operative Society (WAT-SACCOS) was established in 1997 and registered in January, 1998 under the Registrar of Co-operatives.
The objectives of this programme are:
It is also anticipated that members from various housing co-operatives will join the WAT SACCOS and use it as a vehicle for savings and loans for affordable houses.
WAT-SACCOS membership 
WAT-SACCOS started with fourteen (14) members. Currently, membership has increased to twenty-seven (2400), twenty-two (22) of which are Individual members and five (4) are WAT-Housing co-operatives which joined as a group. These Housing co-operatives include: Bandari with 86 members, Magohe with 27 members , Nalamakazi Housing group, Mshikamano with 30 members. Makazi Bora Housing Group with 50 members and Mkuhana Upgrading Group 26 members.
How to join WAT-SACCOS?
Membership is voluntary;
What are the main terms & conditions of borrowing?
What does WAT-SACCOS provide? 
Some future initiatives to be pursued:
Encouraging more housing groups to join the WAT SACCOS |