Page 30 - Ramco JO SACCOStar _Vol 50.indd

FINANCE AND INVESTMENTS

Buoyant NDEGE CHAI SACCO records
GROWTH

Mr. Daniel Sang. Ndege Chai SACCO Chairman.

By Symon Koech

Kericho based Ndege Chai SACCO is in an upward growth Ndege Chai SACCO CEO Mr. Gilbert Bett
trajectory buoyed by increased member deposits and,
products and services uptake by members despite
financial challenges experienced in 2019.

The SACCO Societies Regulatory Authority (SASRA) licensed DT-
SACCO reported increased member deposits to Sh2.07 billion
by the end of December 2019 from Shh1.9 billion the previous
year, representing a 9 per cent increase.

While releasing the financial report for the year ended
December 2019 during the 42nd Annual Delegates Meeting
(ADM), the SACCO chairman Mr Daniel Sang said they faced
several challenges during the year under review, the major one
being the closure of Finlay Flowers.

However, the SACCO remained financially resilient to record
growth due to aggressive membership recruitment drive
informed by the Society’s strategic plan put in place to mitigate
such a setback.

“As a result of the rigorous membership drive carried out,
we were able to open a new branch at Silibwet after SASRA

28 | SACCO Star Magazine