Page 41 - SACCOStar Mag Vol 46 Press_txt.pdf

SACCO NEWS

IMARIKA SACCO TOPS IN COAST
REGION BUSINESS TURNOVER

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The chief guest, Mr. Nelson Nyoro, Mombasa Country, A cross-section of the delegates listening to the proceedings of the meeting
Commissioner of Co-operatives speaks during the meeting

Imarika SACCO, a leading DT SACCO in During the meeting the delegates read SGD KHPTHCHSX ONRHSHNM NE SGD 2 "". @MC
the Coast region performed extremely SGQNTFG SGD ?M@MBH@K QDONQSR enable members accumulate reasonable
well in 2018, despite the socio- which are depicted by the following R@UHMFR
3GD "GHDE $WDBTSHUD .?BDQ ,Q

political challenges experienced in the highlights:- Total earnings improved in Daniel Masha told the delegates that the
country. The SACCO held its 44th Annual 2018 to Kshs 1.36 billion from Ksh 1.21 KHPTHCHSX Q@SHN V@R ADKNV SGD QDPTHQDC
Delegates Meeting (ADM) at Travellers AHKKHNM HM @M HMBQD@RD NE

standard and the delegates should help
Beach Hotel in Mombasa and attributed The bulk of the earnings were derived SGD 2 "". HM GDQ D?NQSR SN HLOQNUD NM
its success to the loyalty and business from loans and advances interest which the same. He called upon members
patronage by members. increased from Kshs 1.04 billion in 2017 to capitalize their 2018 dividends
to Kshs 1.19 billion in 2018 an increase and interest on members’ deposits to
Speaking to the Delegates, the Mombasa NE

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County Commissioner of Co-operatives including operating income and service Also present in the meeting, James
Mr. Nelson Nyoro, who was the Chief EDDHMBNLDRSNNC@S*RGR
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Guest, reported that Imarika SACCO HMBNLO@QDCSN*RG
LHKKHNM of Co-operatives hailed the SACCO for
posted a turnover of Kshs 1.36 billion in 2017, indicating a marginal increase the exemplary performance and asked
in 2018, the highest compared to other NE

the members to be committed to the
SACCOs in the region. He commended SACCO core business. He was happy to
the Board and Management for the Operating and administrative note that Imarika SACCO was the second
good job well done. He further said that expenditure rose from Kshs 394.27 in the County to hold an ADM in 2019.
the commendable performance was million in 2017 to Kshs 460.62 million Among the business of the day were
as a result of commitment and good HM@MHMBQD@RDNE
3GDQDRTKSR elections for three board members who
leadership in the SACCO. “You are not also generally depicted a positive were retiring on rotational basis. All the
struggling to exist but rather enjoying A@K@MBDRGDDSHLOQNUDLDMS@RQD?DBSDC three were re-elected unopposed. The
the fruits of your labor and hard work,” AXSGDFQNVSGNESN*RGR
AHKKHNM delegates resolved to distribute interest
Mr. Nyoro said. He also commended compared to Kshs 6.6 billion in 2017. NM CDONRHSR SN LDLADQR @S Q@SD NE
the SACCO for establishing the Imarika +N@MR RSNNC @S *RGR
AHKKHNM HM interest.
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Corporate Social Responsibility (CSR) Also addressing the delegates, the
activities, through giving back to the SACCO Chairman Mr. Renson
community. Ndoro reported that, the
SACCO had revised features
Further, Nyoro said, “No organization of some of the long term
is too big to fail and business survival products, particularly, the
is not by chance but rather by choice.” SmartLoan product. He said
He therefore advised the delegates to that it was the responsibility of
support the board and management in the delegates to educate the
establishing new markets to grow the members on the importance
SACCO business. He also encouraged of the new features. He added
SGDL SN N?DQ MDV RNKTSHNMR SN AQHMF HM that once fully implemented,
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the product would improve