Page 21 - SACCO STAR ISSUE 43

SACCO INDUSTRY WATCH
TABASAMU SACCO CONTINUES TO
POST GROWTH
GTabasamu SACCO Chairperson, Felister Mutisya during the AGM in Kwale
ood management at
Tabasamu SACCO has been
attributed to the growth the
Kwale based society has
been recording in the last
three years.
Felister Mutisya , The SACCO’s chairlady
said that the SACCO has been on an
upward trajectory. She noted that loans
disbursed to members increased from Ksh Similar sentiments were shared by Simon
89 million in 2015 to Ksh 131 million in
2016 to Ksh 271 million in 2017.
“Members deposit went up to Ksh 379
million in 2017 from Ksh 345 million
in the previous year while asset, moved
from Ksh 524 million in 2016 to Ksh 604
million in 2017,” she said.
The SACCO paid in full, loans borrowed
from external sources in 2017. Further,
the SACCO’s board urged members to
increase their monthly contribution
voluntarily to have the SACCO mobilize for
cash from within.
Addressing members during the
AGM, Joseph Mtende, the supervisory
committee chairperson assured the
By Brian Otieno
members that all was well as affirmed by
the regulator.
“SASRA did an onsite inspection of
all records, process and testing of
internal controls. The report indicated
an improvement and compliance to
regulations, policies and standing
procedures,” said Mtende.
Mbashu, of Qwetu SACCO during his key
address as the chief guest in the meeting
representing, KUSCCO’s regional director,
Alfred Mlolwa.
Tabasamu SACCO members during the AGM held in Kwale on 17th MArch 2018
He maintained the need for
members to plan before acquiring
loans as lack of planning results to
misappropriation of the funds hence
leading to defaults.
At the same time Mbashu stressed
on the need to have all members
scrutinize their colleagues before
guaranteeing them to acquire a loan
from the SACCO.
“As a serious member of your SACCO,
you should be interested with the
person you guarantee to ensure he/
she has plans for the loan intends
to take. You should not guarantee
anyone who will make you end up
in unnecessary deductions if fails to
pay,” he adviced.
Further, Mutisya said there was a
need to invest more in education
to have members make informed
decisions and ensure smooth running
of SACCO business.
“Last year we attained over 900
members who benefited with topics
like financial literacy and planning,
retirement, stress management
among others. The feedback was
encouraging and more to be done this
year so I urge all of you to participate
when time comes,” she said.
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