Page 24 - SACCO STAR ISSUE 43

SACCO INDUSTRY WATCH

TAI SACCO POSTS GROWTH WHILE IT
EYES AGENCY BANKING

Mr. John Mwangi, Tai SACCO Chief Executive Officer addressing delegates during the ADM

Kiambu based Tai SACCO Addressing delegates during the 25th Speaking at the ADM held at St Francis
proved its resilience as ADM, the SACCO chairman, Mr Peter of Asisi Catholic hall, the SACCO CEO, Mr
it celebrated 25 years Mwaura asserted that the SACCO John Mwangi stated that the SACCO was
since inception by recorded a 5% growth in customer base, angling at introducing agency banking
posting positive growth. while the total revenue increased to Ksh after undertaking due diligence and
The significant growth was buoyed 289 million. approval by SASRA.
by the society’s agricultural related
products which contributed to “Further, mobile loan service portfolio Tai SACCO Chairman Mr. Peter Kahiga Mwaura
36% of the total loan portfolio of recorded an impressive 442% growth,
Ksh 501.64 million . which was attributed to the introduction
of the ERP system Navision 2017,” he
This is in the background of said.
the agricultural sector in the
country growing by 3.1% in Consecutively, dividends on share
the third quarter fueled by the capital stood at 7.2% while the interest
government’s subsidy of maize on deposits rose to 6%. An amount
grain to contain maize prices. of Ksh 23.17 million was reimbursed
Business loans also made a through the SACCO’s Pay bill option
significant contribution of 32% of established during the last quarter of
the total loan book by the end of the financial year 2017.
the year.

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