Page 32 - SACCOStar Mag Vol 46 Press_txt.pdf
P. 32
SACCO NEWS
WANANDEGE SACCO RECORDS A
REMARKABLE FINANCIAL GROWTH
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George Ototo , Managing Director KUSCCO awarding a high consistent saver Josephine
Omenda (centre) as Wanandege SACCO Chairman John Bosco Matheka cheers on.
:@M@MCDFD 2 "". CD?DC grown due to an increase in recruitment with an average disbursement of Kshs
the odds and recorded a of new members, an increase in deposits
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3GD
remarkable growth in SACCO by members, implementation of loan chairman reported a Kshs 61.2 million
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(MSGD banding and reduced rate of membership payout to members in terms of interest
year under review, the SACCO’s total withdrawals,” Mr. Matheka noted. NM CDONRHSR NE HM TO EQNL
assets grew to Kshs 1.4 billion compared
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to Kshs 1.3 billion recorded in 2017, Further, the SACCO’s total revenue grew
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%TQSGDQ SGD 2 "". to Kshs 197.2 million up from Kshs 168.6
registered an increase in members’ LHKKHNM@FQNVSGNE
Speaking at the same venue KUSCCO
deposits from Kshs 1.08 billion in the Managing Director George Ototo lauded
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“This growth in revenue is due to a Wanandege SACCO for recording an
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3GD high product uptake in 2018. I urge all HLOQDRRHUD?M@MBH@KFQNVSG@MC@C@OSHMF
2 "". LDLADQRGHO FQDV SN HM delegates to encourage members to to technology to enable members do
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increase patronage of FOSA products and transactions hassle free. He however,
growth. services,” said Matheka. The Society’s urged the SACCO management to be
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wary of cybercrime and invest in the
Addressing delegates during the Annual LHKKHNMHMSGDOQDUHNTR?RB@KXD@QSN*RGR best technology to avoid losing money
Delegates Meeting (ADM), Wanandege
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to fraudsters targeting money lenders
SACCO Chairman John Bosco Matheka in the market. According to available
said he was impressed with the growth In 2018, the SACCO disbursed loans and RS@SHRSHBR SGD ?M@MBH@K RDBSNQ HM *DMX@
rate of the SACCO, in terms of wealth advances to 9,488 applicants amounting lost over Kshs 21.1 billion in 2017
and membership. “The SACCO has to Kshs 933 million. The chairman through cybercrime.
reported a steady increase in loan uptake
30| SACCO Star Magazine
