Page 17 - SACCOStar Mag Vol 46 Press_txt.pdf

SACCO NEWS

MOMBASA PORT SACCO ON
AN UPWARD GROWTH CURVE

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A section of Mombasa Port SACCO delegates following the Annual Delegates Meeting

0ombasa Mombasa Port SACCO Society won various accolades both
Port SACCO nationally and in the Coast Region, among them being the
announced Kshs best insured SACCO. Moreover, it stands out as one of the

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on members’ shares for deposits.

the year 2018 with each In 2018, Mombasa Port SACCO was awarded the best

shareholder earning at innovative SACCO, most improved in deposits and savings and

least 20 percent. The Mombasa Port SACCO Chief best capitalized SACCO. It was also feted for the Best exhibition
SACCO also posted a ([HFXWLYH2?FHU'HGDQ2QGLHNL stand in the co-operative sector, as well as the third lowest in

ODQBDMSHMSDQDRSNM addressing journalists in Mombasa expenditure nationally.

members’ deposits. Mr. Alfred Konde, Mombasa Port

In 2018 interest grew to Kshs 319.1 million up from Kshs SACCO chairman attributed the

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recorded a net operating surplus before tax of Kshs 220.2 in membership and contributions,
million in 2018 compared to Kshs 249.8 million in 2017. VGHBGRTARDPTDMSKXHMBQD@RDCSGD
institution’s lending capacity.

The SACCO Chairman Alfred Konde said the institution Mombasa Port SACCO “We are targeting to increase
posted a marginal growth in the loan portfolio from Kshs Chairman Alfred Konde loan uptake among our members

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%TQSGDQ He added that the Board of
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2017 to Kshs 631.8 million in 2018, a 6 percent increase. to ensure the new Strategic Plan

Speaking during the SACCO’s Annual Delegates Meeting for 2019-2023 was achieved. “According to the 2019 budget, the
held in the Society’s building in Mombasa, Mr. Konde SACCO projects an upward trend of Kshs 860.3 million at the end of
promised to steer the SACCO to greater success by December 2019 from Kshs 820. 9 million in 2018,” he said.

extending services to new members. Mr. Konde also revealed that the SACCO would open operations

Also present was Gervas Mwole, the Society’s treasurer in Nairobi before the end of March 2019 to reach more members.
who urged members to take advantage of the reduced 'D @CCDC SG@S SGD 2NBHDSX RDBTQDC @ +H@HRNM .?BDQ @S SGD (MK@MC
interest rates on the SACCO’s products. He also urged "NMS@HMDQ#DONQS("#HM-@HQNAHSNJHBJN?NODQ@SHNMRHMSGDBHSX

members to open accounts for their children and spouses As part of Corporate Social Responsibility, the SACCO in 2018
in order to recruit more members to the Society. sponsored 3 of its members’ standard eight best pupils who have

since joined form one.

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