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WAKENYA “I wish to extend the management’s SACCO INDUSTRY WATCH
PAMOJA SACCO appreciation to you delegates
LAUDS MEMBERS ENQXNTQD?NQSRSNV@QCRRSDDQHMF Nyamira and Homabay Counties
FOR SUPPORT forward development of this acknowledged that the weather
esteemed society and the patterns experienced during the
Kisii based Wakenya Pamoja SACCO patriotism you have shown in ?M@MBH@KXD@QTMCDQQDUHDVG@CCHQDBS
managed to post a net surplus of Ksh 24.9 acquiring the society’s products and HM?TDMBDSNSGDCDE@TKSDWODQHDMBDC
million after tax in 2017, up from Ksh 11.6 services, ensuring its sustainability,” in loan repayment saying that the
LHKKHNMSGDOQDUHNTRXD@QHMCHB@SHMF@
Nyasamba said. issue was beyond stakeholders’
increment. control.
The society also advanced its members The management promised to
dividends amounting to Ksh 4 per share held educate members on the newly “We have had a high default rate in
in the SACCO unlike 2016’s Ksh 1 per share acquired Management Information the previous year and the SACCO
System (MIS) that seeks to link management has taken appropriate
Hezekiah Nyasamba, the co-operative’s all satellite branches and enable steps to recover the money including
chairman declared the dividends in members to transact using their listing defaulters with Credit
April this year during the 27th Annual mobile phones. Reference Bureaus,” the CEO said.
Delegates Meeting held at Gusii Institute of The already operating MIS has
Technology. QDCTBDC?M@MBH@KEQ@TCB@RDR Meanwhile the total assets grew from
previously encountered. Ksh 1.3 billion in 2016 to Ksh 1.4
billion in 2017 whereas the share
The society, serving pensioners, B@OHS@KFQDVSN*RG
LHKKHNMHM
civil servants, farmers groups and 2017 up from Ksh 373.3 million in a
the business community from Kisii, similar period the previous year.
TNT SACCO GAINS FROM INCREASED LOANS UPTAKE
Trans National Times SACCO Chairman Mr. Robert “As the demand for loans increases, “Remedial measures are
Omari giving his remarks during the ADM. I appeal to you members to uphold proceeding to enhance rapid and
the saving culture and patronage stable membership growth to
Trans-National Times SACCO (TNT) the society’s products and services ensure growth of our SACCO’s key
portrayed an upward trajectory while to boost income generation to factors and consequently lead to
QDKD@RHMFSGD?M@MBH@KQDONQS DM@AKDNTQ?M@MBH@KHMCDODMCDMBD institutional ratios compliance,”
during the 27th Annual Delegates and shield us from the risk of he said.
Meeting held at Kenya Ministry external borrowing,” advised Robert
Training Institute in Kitale town, Transzoia Omari, the SACCO’s new chairman. “TNT has so far invested an
County. amount of Ksh 179 million by sale
The management proposed to pay of shares and plans to upgrade
%NQ?UDXD@QRHM@QNVSGD2 "".G@RBNMSHMTDC members interest on their deposits to a web-based ERP system and
to post steady growth. The loan portfolio went @S@Q@SDNE
also install a queue management
TOAXHMSN@M@LNTMSNE*RG system,” the chairman indicated.
million in 2017 from Ksh 480 million in 2013 Deposits to the SACCO increased
with interest on loans growing to Ksh 147 million AXSNRS@MC@S*RGLHKKHNM Speaking during the ADM, the
TMKHJD*RGLHKKHNMHM
EQNL@M@LNTMSNE*RGLHKKHNM chairman acknowledged the
in 2016 while new members joining challenges the SACCO experienced
SGDRNBHDSXVDMSTOAXSN while delivering for the year 2017,
9,000 members. citing high loan demand, increased
loan defaulting and low member
Omari promised national training subscriptions as the major ones.
and education, aggressive
marketing and improved customer
service standards in order to woe
more members to register, save,
HMUDRS@MCFQNVSGDHQ?M@MBDRVHSG
the SACCO.
