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SACCO INDUSTRY WATCH
Hezekiah Nyasamba, Chairman, 2019 in order make loans accessible marketing all over the country with the
Wakenya Pamoja SACCO to our members. The board is therefore help from the current membership.
encouraging all delegates and members
Isaac Omwenga, Chief Executive to take advantage of the same and take “We shall involve all delegates in
Officer, Wakenya Pamoja SACCO more loans for their development,” the educating all our members about our
Chairman said. SACCO products and services. I therefore
He reported that the SACCO fell short call upon each one of us to be loyal
of meeting the SACCO Regulator’s The SACCO acquired a new MIS in March ambassadors of our Society in the
prescribed prudential portfolio at risk 2018 and the management is planning recruitment of new members to ensure
at the rate of less 5 per cent and the to launch other digital platforms such as growth of the SACCO,” Nyasamba urged.
institutional capital to asset ratio which Mobile banking and bulk SMS this year.
stands at 1.3 per cent against the The honcho acknowledged the role
prudential rate of more than 8 per cent. This, according to Nyasamba will played by stakeholders, including
enable the SACCO to effectively serve employees, the membership, the
However, the Chairman said that the its clientele and enable it to remain community, government agencies and
Society has witnessed a notable growth competitive in the market. the Regulator in its ability to advance its
towards the attainment of SASRA’s mandate.
thresholds. “We are in the process of cleaning up
In addition, the SACCO has loan recovery our customer database and therefore “We shall involve all
measures in place that includes listing request support. We look forward to delegates in educating
defaulters in the Credit Reference Bureau training all the members on the benefits all our members about
(CRB) to prevent them from accessing of new platforms including use of the our SACCO products and
loans from other providers and attaching mobile banking platform from the services. "
their properties to regularise on the loan comfort of your homes,” Nyasamba said.
portfolio at risk and capital adequacy to
the required ratios. Meanwhile, the Society saw Hezekiah
“To this end, the SACCO changed its mode Nyasamba, Francis Ayieko, and Wilson
of charging interest from straight line to Nyakoe elected in 2019 as chief
reducing balance method from January delegates representing North Mugirango,
South Mugirango, and West Mugirango
respectively.
The SACCO plans to increase its
membership through aggressive
(From Left) Wakenya Pamoja SACCO Procurement Manager
Emilly Obisa, Hon Secretary Wilson Nyakoe, Chairman Hezekiah
Nyasamba and Phenny Oganga KUSCCO Kisii Branch Manager
27| SACCO Star Magazine
