Page 33 - Ramco JO SACCOStar _Vol 50.indd
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FINANCE AND INVESTMENTS
Biashara SACCO adopts technology to
REVAMP SERVICES
Biashara SACCO Board Members during the SACCO's Annual General Meeting.
By Erick Maranga The SACCO’s Net Surplus rose from Sh100 million in 2018 to
Sh145 million in the current financial year which is equivalent
Biashara SACCO Society has opted to keep its members to 45 per cent growth.
techno savvy by fully adopting the latest technology in
offering services to them. Biashara SACCO was ranked top SACCO, winning numerous
awards during the 2019 Agricultural Society of Kenya (ASK)
The move has seen the SACCO provide efficient services to Central Kenya Show at Kabiru-ini rounds.
members that can be enjoyed at their convenience.
The SACCO emerged best in the following categories;
Speaking recently during an Annual General Meeting Biashara
SACCO Chairman Mr Joseph Njamuku noted that the SACCO The best SACCO/Cooperative Movement stand-01 position
will continue investing in the latest technology in a bid to serve
its members efficiently. The best in Youth Activities, Empowerment & Capacity
Building-01 position
Mr Njamuku noted that the adoption of the latest innovations
in the financial industry has enabled the SACCO make its In Nanyuki ASK Show it won;
operations effective and efficient leading to growth and return
on investments. Best Financial Institution Stand other than Bank-01 position
“We continue to invest in emerging technology platforms and The Most Striking Display Stand-01 position
more systems that are going to make our operations effective
and efficient. The SACCO is reaping big from these investments in Embu ASK Show, the SACCO scooped the following trophies;
terms of growth and operational efficiency,” he noted.
The Best Financial Institution Stand other than Bank
During the year under review, the SACCO’s asset base rose from
Sh1.5 billion in 2018 to Sh1.7 billion in 2019 representing Best Theme Interpretation (Financial Services)
15.1 per cent growth.
The SACCO has announced dividend rate of 18 per cent and
Biashara SACCO posted a growth in loan portfolio from Sh1 interest on deposits at a rate of 12 per cent.
billion in the previous financial year to Sh1.3 billion in 2019
which is equivalent to 24.4 percent growth. The Nyeri based SACCO which was given a green light to roll
out banking agency on pilot program for six months before
In the current financial year loan disbursement increased to approval currently has 25 agents spread in its areas of
Sh1.5 billion from Sh1.2 billion registered in 2018 representing operation which they include Ruring’u, Narumoru, Enderasha,
26.1 percent growth. Charity, Nairuta, Wiyumiririe, Gwa-Kung’u, Ndunyu, Kiria-Ini,
Mwea, Ena Market in Embu, Kianjokoma, Kenol, Makongeni,
Core capital grew from Sh372.5 million in the previous financial Utawala, Gikomba, Tea room and Kitengela.
year to Sh480.3 million in 2019, which is 28.9 percent growth.
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