Page 8 - Ramco JO SACCOStar _Vol 50.indd

COVER STORY
HARAMBEE SACCO
sets stage to
CELEBRATE 50TH
ANNIVERSARY
Mr Malonza,
Chairman, Harambee SACCO
By Gichuki Kabukuru
As we mark our golden
jubilee this year, the
Society is also setting a
new standard.
For an institution that began as a
merry go-round in the Office of
the President in 1960, the year
2020 marks a major milestone.
Setting the stage for the celebration of
its 50th anniversary Harambee SACCO
Chairman, speaking during the 49th
Annual Delegates Meeting, noted that
this was an important milestone in the
history of Harambee SACCO.
“It is an honor and a privilege for
delegate attending the 49th Annual
delegates meeting. As torch bearers,
we have not been a disappointment
to the great men and women who laid
the corner stone for the institution,” Mr. of Sh 82.4million in 2018. This figure
Malonza observed.
According the Harambee SACCO
National Chairman, "Looking back
memory lane, We have come far, but
our greatest comfort is that we now
have a much stronger foundation. I can
very easily visualize how Harambee
SACCO will be in the next 50 or one
hundred years."
"With an asset base of Kes. 29.5billion
in 2019, our projections are such that
6 | SACCO Star Magazine
as a Society are looking at doubling
and tripling our asset base in the next
10 years. The Society has now put
systems and motivated teams in place
to help catalyse its growth in the next
decated," Mr. Malonza observed.
Speaking to delegates during the
2019 Anual Delegates Meeting at the
Kenya School of Monetary Studies, the
Chairman noted that "Society recorded
growth in areas such as Institutional
Capital where we stood at Sh1.1billion
in 2019 from a negative Sh269million
in 2018 a growth of 520 per cent. Net
surplus before tax grew by 18 per cent
in 2019 to Sh1.53billion from a low
speak a lot about the foundation the
Society has put in place to drive us for importance, I want to urge each and
the next 50 or more years," he pointed
out.
“As we mark our golden jubilee this
year, the Society is also setting a new
standard. On behalf of the Board of
Directors, I wish to hereby reitarate
that the Society has now put in place
a strategic working formula and with
all the necessary ingredients that will
see this level of growth sustained and
improved in the coming years.”
“I am optimistic that our Society is now
re-engineering itself in readiness to be
catapulted back to our number one
position in Kenya and in Africa in the
next five years. We must yet again walk
with the gusto and pride of the giant
that we were and soon will be,” the
Chairman observed.
THE HARAMBEE WE WANT
“As we set ourselves ready to venture
and explore the 2020 decade, I wish
to call upon each and every one of us
to embrace vigilance and enthusiasm
in supporting our SACCO. But of
every one of you to climb higher and
higher the rungs of our individual
financial prosperity,” the National
Chairman pointed out.
Together Harambee SACCO is set to be
the giant it was more than a decade
ago. Long live Harambee.