Page 50 - SACCO STAR ISSUE 43
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SACCO INDUSTRY WATCH
as provision for loans, a figure that
has been brought down from previous
year’s Ksh 15 million.
“TNT has so far invested an amount
of Ksh 179 million by sale of shares
and plans to upgrade to a web-based
ERP system and also install a queue
management system,” the chairman
indicated.
Speaking during the ADM, the chairman
acknowledged the challenges the
SACCO experienced while delivering
for the year 2017, citing high loan
demand, increased loan defaulting and
low member subscriptions as the major
ones.
The highest saver in Trans National Times SACCO Mr. Omoit Omuse receiving a token of “Despite the challenges, I wish to
appreciation from the tnt former chairman Mr. Christopher Nyongesa during the ADM. extend my appreciation to all the
members and the management of
He also said that the SACCO envisions Similarly, member’s share capital rose this SACCO for the support accorded,
opening branches in among other towns from Ksh 63 million in 2016 to stand at strategic guidance, commitment and
Lodwar and Turkana in order to bring Ksh 64 million in the year 2017. dedication towards key achievements
more members on board for boosted the SACCO had realized in the year
financial health. The management proposed to grow 2017,” said the Omari.
the current assets to an amount of Ksh
The society’s total assets have reached 1.42 billion in 2019, with a target to The society draws its membership
Ksh 1.26 billion in 2017, a growth record post tax net surplus of Ksh 41 from primary and secondary school
from previous year’s Ksh 1.22 billion. million and an amount of Ksh 7 million teachers from Meru and Tharaka Nithi,
employees from Kenya National Union
of Teachers, Office of the President,
Ministry of Education, SACCO staff and
civil servants.
Mr. Tom Malava, C.E.O Trans National Chief guest KUSCCO Rift Valley Delegates of Trans National Times
Times SACCO. Regional Manager Mr. Robert Owino. SACCO participating during their ADM.
48| SACCO Star Magazine
