Page 43 - SACCOStar Mag Vol 46 Press_txt.pdf
P. 43
SACCO NEWS
KENYA HIGHLANDS SACCO CONTINUES TO SOAR
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Kenya Highlands SACCO delegates follow proceedings during the ADM services. Mr. Makori urged members to
take loans and diversify investments to
As part of its strategic plan for 2019, FQDV EQNL HM SN create employment for the youth and also
Kenya Highlands SACCO is set to members in 2018 representing a 10 help them to repay the loans in time to
open a new branch in Silibwet percent increment. avoid defaulting.
market in Bomet County. The move to
open a new branch according to the SACCO “The success of our business lies with The SACCO also emerged the best in
chairman Mr. Richard Mutai will help the number of members and therefore three categories during 2018 Ushirika
the SACCO position itself in the market we continue to give more emphasis on day celebrations that were held both at
thereby leading to an increase in revenue. member’s recruitment and retention. We National and county level. The categories
“We are pursuing our dream to put up a are planning to adopt media and other were loan deposit rates, highest interest
modern building at Kericho. As agreed technology for marketing, so as to reach a and deposits SACCO with FOSA and the
earlier, we shall continue deducting 10 wider population,” the chairman said. best overall in FOSA SACCO.
percent dividends and interests towards
building shares,” the chairman said during “We would like to urge the board to During the year under review, the overall
the SACCO’s Annual General Meeting. undertake sustained membership loan default portfolio increased from
recruitment program putting into Kshs 40 million to Kshs 43 million. To
Mr. Mutai informed members that the total consideration the aging members. curb this, the chairman called on the
revenue of the SACCO increased from Kshs Nonetheless, we would like to commend board to institute additional recovery
LHKKHNM HM SN *RGR LHKKHNM the board for a good performance during measures such as use of debt collectors,
representing a 27 percent increment. the year,” the chairman added. RN SG@S CDKHMPTDMBHDR @QD QDCTBDC SN SGD
During the year under review, the SACCO AD@QLHMHLTL
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disbursed Kshs 2.3 billion in loans and Speaking during the meeting, Chief Guest, of loan recovery unit and input of loan
advances compared to Kshs 2 billion Mr. Stephen Makori, Rift Valley Regional guarantors in assisting the SACCO in loan
disbursed in 2017, an increase of 88 Manager, KUSCCO said that the SACCO recovery from defaulters,” the chairman
percent. At the same time, the total assets has realized outstanding performance said.
of the SACCO stood at Kshs 2.9 billion CTDSND?DBSHUDKD@CDQRGHOEQNLSGD!N@QC
representing 19 percent increment from of Directors and management. He also 3GD AN@QC OQNLHRDC SN N?DQ BNMSHMT@K
last year. Further, the SACCO membership appreciated the role loyal members played training and development to the members
by patronizing the SACCO’s products and pointing out that education and training is
very key in ensuring good governance and
Mr. Richard Mutai, Chairman, Madam Alice Koskei, Chief Chief guest, Stephen Makori, LDLADQ O@QSHBHO@SHNM HM SGD @?@HQR NE SGD
Kenya Highlands SACCO reads ([HFXWLYH2?FHU.HQ\D KUSCCO Regional Manager, Society. He further assured members that
SGDHQ @RRDSR HM SGD 2 "". @QD @CDPT@SDKX
his speech during the Annual Highlands SACCO gives her Rift Valley region gives his secured as they have put measures in
Delegates Meeting remarks during the meeting remarks place, including an audit subcommittee
and supervisory board, together with an
internal auditor, to help in management of
risks.
The chairman also expressed gratitude
to members saying the SACCO complied
with all the relevant laws and regulations
and is committed to ensure continuous
BNLOKH@MBD @R QDPTHQDC AX SGD 2 "".R
Societies Act. “We have also complied
with other regulations like NSSF, NHIF and
HMBNLD S@W QDPTHQDLDMSS SGD BG@HQL@M
said.
During the year under review, the SACCO
is contributing to its community through
Corporate Social Responsibility (CSR).
In line with this, the SACCO visited two
institutions namely the school of the
physically challenged and a children’s
home. In addition the SACCO provided
internship and mentorship to 66 college
and graduate students from across various
sectors.
41| SACCO Star Magazine
