Winas SACCO has launched an ambitious drive to raise Sh500 million share capital in the next four months.
According to the chairman Robert Kathanju, the SACCO was seeking the funds to open more branches, improve its ICT system and target more customers through offering loans.
“We plan to open branches in Nairobi to be able to target more customers, offer long term loans as well as improve its mobile money system,” he observed.
He also said the SACCO targeted to disburse loans to investors in real estate and large scale agriculture, sectors noting that the sectors projected vibrant growth as part of the government’s big four agenda for development.
The Sacco which a few years targeted Embu teachers now has about 15,000 customers and a Sh 4.2billion asset base. In October last year, it acquired tier one status and was second best nationally in capitalization and in credit management.
The drive was flagged off on Friday by Eastern Regional Coordinator Wycliffe Ogallo who said Sacco growth was instrumental in the country’s  drive to achieve the big four agenda.
Ogallo said the government was committed to provide a secure environment for businesses to thrive and called on SACCOs to support the government in development through financing investors to achieve the four pillars.
“The Sacco financing programme has focused on the big four pillars of the country’s development and we urge investors to embrace the opportunity and acquire loans and invest in those areas. Our desire is to have SACCOs that are vibrant,” he said.
The Sacco commands a capital base of 40 percent in the county, almost the County’s annual allocation from the national treasury, according to Embu Cooperatives Commissioner David Muriuki
Last year, the Sacco posted Sh235 million pre-tax profit and declared a dividend of 14.1 percent on share capital and 12.55 percent on deposits.
Source: http://www.kenyanews.go.ke/sacco-floats-shares-to-raise-sh500million/