Page 22 - Issue 48_press_efile

SACCO INDUSTRY WATCH

GUSII MWALIMU SACCO GROWS ITS
ASSETS TO OVER SH8 BILLION

12

Pic 1: Gusiii Mwalimu SACCO Chief Executive 345
Charles Omwanza and the line managers.

Pic 2: Gusii Mwalimu SACCO Board of Directors pose
for a group photo

Pic 3: Gusii Mwalimu SACCO's National Chairman
David Ogega

Pic 4: Timothy Machana, Vice Chairman Gusiii
Mwalimu SACCO

Pic 5: Charles Omwanza Gusii Mwalimu SACCO CEO

By Jackson Nyamweya become good ambassadors of the target to increase the strength of the
Society’s products and services." customer base of the Co-operative.
Arecent financial report released
by Gusii Mwalimu SACCO, during Currently, the Society has increased “The Board of Directors is working
this year’s Special Delegates the total registered membership by 5 around the clock in recruiting new
Meeting (SDM), showed notable growth per cent from 32,000 by the close of members and putting mechanisms in
in total assets by 15 per cent from Sh7.2 December 2017 to more than 34,000 place to retain them. We have made sure
billion in 2017 to Sh8.3 billion in 2018. members by the close of 2018. that our customers receive top-notch
services and competitive products,” said
The report of the financial year ended Members’ deposits rose from Sh5.1 Nyangau.
December 2018 was presented by the billion in the 2017 financial year to
Society’s chairman David Nyangau in Sh5.9 billion in a similar period in 2018 The Society, which has been around
an occasion graced by KUSCCO Group representing 16 per cent growth. In for over 40 years, is angling towards
Limited Managing Director Mr. George addition, the loan portfolio increased by achieving laid out targets this financial
Ototo. 9 per cent to stand at Sh7billion in 2018 year, among them rolling out of mobile
up from Sh6.4 billion in 2017. banking platform to allow members
According to Nyangau, the positive access their Front Office Services
growth was mainly attributed to good Nyangau intimated that the Society had Activities (FOSA) accounts anywhere.
corporate governance policies that the recorded growth in all areas and also
Kisii based Co-operative has embraced managed to meet all requirements set by The Society also looks forward to
over the last ten years. the SACCO Society’s Regulatory Authority ensuring a powerful firewall to mitigate
(SASRA) except capital adequacy levels. against cyber-attacks to its systems and
“With good corporate governance, the also design a website where members
SACCO has been able to reap big in He urged members to strive to achieve all can access updated information on the
terms of attraction and retention of the rules set for the operation of Deposit SACCO operations for transparency.
members, has enhanced accountability Taking SACCOs to avoid a clash with the
and performance of our leaders, and has regulator, which includes the application Meanwhile, plans are underway to
led to efficiency and effectiveness in the of administrative sanctions. enhance network connectivity to branch
delivery of our services and products,” offices for improved service delivery
Nyangau said. The Society’s honcho stressed the and customer relation and feedback.
importance of staying afloat the market The branch offices are found in Nyamira,
"As a result, enhanced customer service through aggressive marketing. This will Keroka, Ogembo, Rongo and Kilgoris.
experience has left a good mark in
the hearts of our members, who have

20| SACCO Star Magazine