Page 44 - SACCOStar Mag Vol 46 Press_txt.pdf

SACCO NEWS

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Delegates of Ndege Chai SACCO participating during the ADM @R QDPTHQDC AX (%12 RS@MC@QCR
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Chief guest Engineer Wesley Mr. Daniel Sang, National Ndege Chai SACCO Chief regulations have been tightened
Bosuberi gives his remarks during Chairman, Ndege Chai during ([HFXWLYH2?FHU0U*LOEHUW further whereby the SACCO is
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the Annual Delegates Meeting the ADM Bett during the meeting provision for performing loans.
This new standard implemented
The membership of Ndege Chai Savings and Credit Co-operative Society has NM )@MT@QX G@R @?DBSDC NTQ
HMBQD@RDC SN QDOQDRDMSHMF @ HMBQD@RD EQNL VHSG SGD 2 "". bottom line,” Mr Sang said.
targeting to recruit 6,000 new members in 2019.
The chairman urged members to
The SACCO’s share capital in the year under review also increased from Kshs 174 million pay their loans in time in order to
HMSN*RGRLHKKHNM@SSGDDMCNEQDOQDRDMSHMF@HMBQD@RD
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increase. management would ensure that the
credit policy is implemented to the
Speaking during the SACCO’s Annual General Meeting, Chairman, Daniel Sang described KDSSDQRN@RSNDMRTQDPT@KHSXKN@MR

2018 as challenging. He noted that some of the issues the Society faced included
voluntary early retirement which had an impact on the membership. “We have however He also informed members that the
embarked on recruiting members in existing and new catchment areas, the latest being SACCO had enough capital reserves
those in Silibwet in Bomet County where there is good potential for membership,” Mr. to enable it comply with the
Sang said. LHMHLTL QDPTHQDC AX 2 21

“Our intention is to ensure that we
3GD BG@HQL@M GNVDUDQ ONHMSDC NTS SG@S SGD SNS@K KN@M ONQSENKHN QDCTBDC AX EQNL continue being compliant with all
Kshs 2.1 billion in 2017 to Kshs 2 billion at the end of 2018. The slump in the loan regulatory ratios, so that our license
portfolio was attributed to the loans recovered from members who left as a result of the to operate is renewed annually,” he
voluntary early retirement. said.

(MGHR@CCQDRRSNSGDLDLADQRSGDBG@HQL@METQSGDQONHMSDCNTSSG@SCDKHMPTDMBXV@R@ Mr. Sang informed members that
big challenge in the SACCO as each unserviced loan led the SACCO to make provisions according to the SACCO’s By-
laws, one third of the board and
supervisory committee retire
annually to seek a fresh mandate.
He therefore encouraged members
to elect the new team of leaders
wisely.

During year under review, the
SACCO participated in the Ushirika
Day awards and emerged the best
in four areas namely; capitalization
(core capital), education and training
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at the Board of Directors and area
coverage. The SACCO was also voted
as second best in loan deposit ratio,
risk management and having the
most innovative products.

42| SACCO Star Magazine