Sacco Times Issue 024

S
Hariet W. Masai
SACCO TIMES
SACCO TIMES
View Park Towers, Utalii Lane,
17 Floor, Wing C, Suite 402
th
P.O. Box 41364 - 00100, Nairobi

Email: satimeseastafrica@gmail.com
Cell: +254 722 663 953
KEEPING YOU INFORMED
ISSUE - 2019024 MANAGER
MARKETING AUGUST - SEPTEMBER 2019 | KSh 150
Mombasa Port
Sacco Excels
During 2019
Ushirika Day
Celebration
Mombasa Port Sacco Chairman

Mr. Alfred Konde
AUGUST - SEPTEMBER 2019 | SACCO TIMES 1

www.saccotimes.co.ke
Okoa Loan
Loan applied for a top up of existing loan to offset the loan.
Save individually or within a registered group
Pay interest of 1% on reducing balance
URITHI PREMIER
A member can have two parallel loans where he/she has
applied a development loan and emergency loan.
SACCO SOCIETY LTD
LOAN SECURITY
The condition here is the member should have paid more
than 50% of the existing loan. Member's savings, shares, guarantors (must be
Bima Loan members of UPS) and occasional collateral e.g log
book, title deed etc
This loan is for funding members' insurance cover. HOUSING CO-OPERATIVE SOCIETY LTD.
Repayment period is 6 months.

Interest rate is 6% of the loan amount.
The member gets 3 times of /his savings PAYMENT DETAILS
Scholar Loan Bank Account
Bank: Equity Bank, Kenyatta Highway Branch Thika
Scholar loan is granted for school/college/university Account Name: Urithi Premier SACCO Society Ltd
fees purpose only. Account Number: 0340264361802
Repayment period is 12 months. Branch code: 034
Swift code: EQBLKENA
The interest rate is 1% on reducing balance.
Support with a fees structure/letter/demand EQUITEL
Go to MyMoney, send/pay option, select A/C
Enter Business Number 563038
Premier Housing Loan Enter your membership as the account number (UPS....),
This loan enables members to acquire products like land, houses Specify the amount to send
Enter pin and send
and other products offered by UPS.
Repayable up to 48 months M-Pesa
Go to Lipa na M-Pesa, Paybill option
The property being purchased plus share certificate of the Enter Business Number 563038
member can be used as security. Enter your membership or
ID number as the account number
Premier Car Loan
Specify the amount to send
This is a leading loan product to help our esteemed members to Enter pin and send
Contact Us:
own a car. This features: Head office: Thika, Thika Bazaar Building 2nd floor, neighbouring Thika Motor Dealers
Nyeri- Fotress Building First Flr Rm No 24 along Kimathi Street.
Pay an interest of 1% per month on a reducing balance. Eldoret- Zion Mall
Repayment period of up to 2 years Thika- Urithi Center Section 9 before Chania Tourist Lodge
The car must be bought locally and be for private use Ronald Ngala -(at the Ronald Ngala River Road Junction above Family Bank
National Housing Corporation (NHC) Building along Harambee Avenue
original log book must be retained by UPS as extra security Mombasa- along Kitumbo Road
for the loan. Kiambu- Professional Plaza 2nd Floor along Biashara Road and above Bata Shop
Ruiru- Urithi Center just after By Pass Exit 11 CALL:
Kilimo Bora Rongai- Geomarc Business Floor RM 303 above Karen Hospital.Center 3r Name:................................................................Mobile:.....................................
Kayole-Komarock Arcade
The facility is designed to finance farming needs and Nakuru-Masters Plaza, 4th floor along Kenyatta Avenue P.O. Box 6479-01000 Thika
activities e.g crop production, livestock farming, poultry, Naivasha- Luxor Building 1st floor Email: info@urithipremiersacco.com
Website: www.urithipremiersacco.com
fish horticluture farming, and other activities Gilgil-Equity Building 1st floor
Gatundu- next to Co-operative Bank Urithi Premier Savings and Credit Cooperative Society Ltd
Githurai- Wajukuu Plaza 1st floor Thika Bazaar 2nd Flr Next to Thika Motor Dealers
Where you Belong... Where you Belong...

Where you Belong... Where you Belong... Where you Belong...
CORE VALUES Minutes and list of members for Chamas A registration fee of Kshs 2,000/=
Contribute minimum 500 shares of Kshs 10,000/= Save a minimum of Kshs 1000/= but to be dictated by your goal
a) Voluntary and open membership
b) Democratic member’s control URITHI PREMIER SACCO PRODUCTS budget
c) Economic participation by members Savings towards a set goal within a time period thereby
d) Autonomy and independence Ordinary Savings enhancing financial discipline
e) Education, training and information Open to all members
f) Co-operative among co-operatives Save at least Kshs. 1000/= per month URITHI PREMIER SACCO LOANS
WHY JOIN UPS Get loan upto Three (3) times your savings Normal/Development Loan
Participate in our regular member’s training and financial
UPS is registered and a recognized by the government
advice forums Get three times (x3) of your savings.
UPS has an open membership
UPS finances members to purchase any product of Urithi Urithi Junior Savers Repayment period of up to 48 months
Housing without collateral. This product is open to children under the age of 18years, Interest charged at loan granted -1% per month on reducing
Ups loans members with a lower interest rate of 1% P.M on featuring the following: balance.
reducing balance / 6.5 P.A. Affordable registration fee of Kshs. 200/= per child Emergency Loan
UPS is collectively owned by the members. Savings and Career Training for children at a small fee.
UPS money circulates within the members to their benefit. Parents may use junior Savings as a security while taking a Emergency loan shall be granted for unforseen circumstances
UPS members decide on payment of dividends to loan. Loaene gets two times (x2) of the savings held, subject to a
themselves.
UPS reaches the hearts of the people who ordinarily are
Premier Holiday Savers maximum of Kshs 100,000/=
ignored by the banking institutions. Enroll for the Premier Holiday Savers Scheme by paying a Repayment period-12 months.
UPS encourage members to save thus creating the saving non refundable fee of Kshs 2000/= Interest charged on loan granted - 1% per month on reducing
culture. Select a pre-planned holiday destination by UPS or have balance.
UPS mobilizes the members to save and put them in viable your favored destination in mind.
Make monthly deposits (minimum to the dictated by the Loan consideration and disbursement is within 24hours
investments.
UPS educate members on financial management, holiday destination or plan) towards the fancied holiday Premier Biz Loan
investment opportunities etc. destination. This is a product aimed at assisting business entrepreneurs to
UPS treats all members as equal owners with equal rights boost their business
and privileges. G-Pange Savings
Repayment period of up to 36 months
Who Can Register as a Member
This is a savings investment scheme meant for students to ease
coping with life after college. To enroll for this program Chama Loan
Individual Kenyan citizens
Juniors Fill a registration form Registration of Kshs 2,000/= as a chama or as individual who
Groups/Chamas Pay a registration fee of Kshs. 500/= are willing to co-guarantee each other.
Companies Attach a copy of your National ID This is a loan where a group of individuals form a chama, and
Institutions Attach a copy of your student identification Card save individually or as a chama with UPS with the purpose of
Contribute Minimum 500 shares of Kshs 10,000/= guaranteeing each other.
Attach a passport size photo
Requirements for Registration G-pange savers will be required to identify a plan that suits The chama should be registered and each member of the chama
Be a Kenyan citizen have six months consistent savings and minimum shares of
them best and start saving towards their unforseen future.
Kshs 10,000/=
Fill membership application form
Copy of identification document (ID/Passport) for Premier Fanikisha Super Loan
the applicant and next of kin This for members interested in saving towards a specific Loan applied against one's savings. It is normally equal
Passport size photo for the applicant and next of kin goal/project;ideal for those aiming at owning a vehicle, to or less than a member's savings
Pay a registration fee of Kshs. 2,000 motorbike, wedding, paying dowry, plot acquisition, or any other
asset over a defined period of time
Certification of registration (for groups)
or incorporation (for companies) Requirements:
2 SACCO TIMES | AUGUST - SEPTEMBER 2019
Where you Belong... Where you Belong... Where you Belong...
CONTENTS
S
Hariet W. Masai
SACCO TIMES
SACCO TIMES
17th Floor, Wing C, Suite 402
P.O. Box 41364 - 00100, Nairobi
Cell: +254 722 663 953
KEEPING YOU INFORMED
ISSUE - 2019024 MANAGER
MARKETING AUGUST - SEPTEMBER 2019 | KSh 150
Mombasa Port Joan Mutindi

Marketing Executive
Sacco Excels
During 2019 Kampus Towers, 1st floor, University Way
P.O. Box 19 - 00100. Nairobi
Tel: 0720 380 226 / 0724 172 670
Ushirika Day Email: info@saccotimes.com,

saccotimes@gmail.com
SACCO TIMES
Celebration
SACCO TIMES JOAN MUTINDI

Marketing Executive
Kampus Towers, 1st floor, University Way
Tel: 0720 380 226 / 0724 172 670
Email: info@saccotimes.com,
Mombasa Port Sacco Chairman

Mr. Alfred Konde
SACCO TIMES
www.saccotimes.co.ke
JOAN MUTINDI
Marketing Executive
Kampus Towers, 1st floor, University Way
CHIEF EXECUTIVE OFFICER

Tel: 0720 380 226 / 0724 172 670
Email: info@saccotimes.com,
Joan Mutindi
EDITOR-IN-CHIEF
Reinhard Mosagwe
EDITOR
Malachi Motano
STAFF WRITERS
Micah Sali, Fredrick Weyimi, John
Mwangi, Daniel Ocharo, Irene Atieno,
Kipkoech Chirchir, Kephas Ayiecha,
Dickson Odhiambo, Robert Ocharo.
Austin Nyambuoro, Lillian Mutiso, Mombasa Port Sacco Bagged Home Prestigious Awards - Ushirika Day 6
Charles Were, Vincent Munga, Sacco pays Ksh.5m dividends to members as it wears a new look 8
Alexander Kimuri, Grace Makovu Capital Sacco Carries Top FOSA Award 10
Anthony Mwachiro, Malachi Motano,
Kevin Ng’ang’a
Ollin Sacco takes the lead with flying colours in Kirinyaga -Ushirika 12
Mafanikio Vows To Maintain The Winning Trend 16
SALES & ADVERTISING Patnas Sacco Sparkles on 97th Ushirika Day in Kericho County 19
Sylvia Shinyanzwa, Caro,
Boresha Sacco rated best overall in Baringo County 22
James Mbugua, Jane Mueni,
John Mwangi, Margaret Ndanu Imarika ranks among the best Saccos in Kilifi County 24
Martha Wanjiru, Viola Chepkemo Yetu Sacco Scores High Both at The County and National 26
County urges entrepreneurs to embrace cooperatives model t 29
DESIGN AND LAYOUT:
Smartex Creative Graffix
UTS Excels At The 97th Ushirika Day Celebration 30
Email: smartexgraffix14@gmail.com Cosmopolitan emerges as the best Sacco in Nakuru County-Ushirika 33
Tel: +254 786 765 092 Kirinyaga County Joins The Rest Of The World In Marking World’s Day 35
Newfortis Sacco remains at the top giving highest interest rate on deposits 36
SUBSCRIPTION
Major Capital Agencies Limited GDC Sacco Again Scooped Trophies For Best Positions - 2019 Ushirika 38
KNUT Commends Boresha Sacco for Steady Growth and Empowerment 42
DISTRIBUTION AND CIRCULATION
JETsam Distribution Limited
PUBLISHED BY:
Satimes East Africa Ltd
View Park Towers, Utalii Lane
17th Floor, Wing C Suite 402
P. O Box 41364 - 00100, Nairobi
Cell +254724172670 / 0720380226
Website: www.saccotimes.co.ke
S SACCO TIMES
17 Floor, Wing C, Suite 402
th
P.O. Box 41364 - 00100, Nairobi

Hariet W. Masai Email: satimeseastafrica@gmail.com AUGUST - SEPTEMBER 2019 | SACCO TIMES 3
Cell: +254 722 663 953
MARKETING MANAGER
EDITORIAL
Dear Reader, in the past one year. Ollin Sacco scoop one of
the top and most prestigious awards for being
W
elcome to another edition of Sacco among the best Saccos in credit management
Times, a Magazine that gives you employer based – Countrywide.
updates and the development in the
cooperative sector locally and in the international On the sectoral updates, fish traders at Port
front. Victoria are being asked to form savings and
credit cooperative societies (Saccos) which are
In this 24th edition, we focused more on the 97th today considered as the bridge to quick success,
international day of cooperatives which is referred Trans Nzoia County urges entrepreneurs to
to in Kenya as Ushirika day and celebrated at the embrace cooperatives model to maximize
Counties as a result of devolution. returns and a Sacco pays Ksh.5m dividends to
members as it wears a new look.
Setting the pace of your reading is Mombasa Port
Sacco where members had all the reasons to smile At the Counties, Newfortis Sacco in Nyeri
and walk with their shoulders high demonstrating retained first position in Saccos that gave the
their satisfaction and confidence in the Sacco’s highest interest rate on deposits in 2018 at
board of directors and the management since the 12.8 per cent in the Urban Saccos category
Sacco continues to excel during the international after beating Mukurwe-ini Staff Sacco and
day of cooperative. Moukenbott Sacco which came second and
third with 11.5 and 10.69 per cent respectively.
At a gala dinner held at Safaripark Hotel in Nairobi-
the country’s capital city, the Sacco bagged home In Kericho County, Patnas Sacco proved its
some of the most prestigious trophies emerging strength by emerging position one in both
position 1 for being the best in Capitalisation in Growth in Membership (Fosa Saccos) and
tier one and also as the best capitalized employer Growth in income (Fosa Saccos These are just
based Sacco countrywide. but few highlights; grab a copy at the nearest
vendor for in depth reading.
We also saw Ollin Sacco proving its prowess to
savers both at the county and national level top Thanks. Enjoy your reading
performers were awarded for exemplary work Malachi Motano
TO OUR ESTEEMED CLIENTS

Please note that SACCO TIMES MAGAZINE is not in any
way related to The Sacco Express Magazine.

CHILDREN
SAVINGS
ACCOUNT
This account enables members to

save for their kids/relatives aged
below 18 years of Age.
FEATURES
No account opening charges
Minimum monthly deposit of Ksh.500
Minimum interest earning balance
of Ksh. 5000
Interest at 6% p.a
One free bankers’ cheque annually
Three withdrawals per year
Money bank (piggy bank) provided
Annual Mombasa Port Sacco Junior
Party
Children receive virtual birthday card
every year
Mob: 0725 238 367, 0780 238 367
0743 836 783
info@msapor tsacco.co.ke
www.msapor tsacco.co.ke
EXCELLENCE
Mombasa Port Sacco Bagged Home Prestigious

Awards During 2019 Ushirika Day Celebrations
Port Sacco, we ensure members
satisfaction and confidence is
met. Competition is the spirit!
The only thing Sacco needs to
establish is proper relations with
customers which can only be
achieved when the Sacco provides
services that meet the interest
of their customers and clients,”
affirms the Chairman.
Mr. Konde wishes to leave a legacy

when he exits the chairman’s seat,
“I have been at the Sacco for a
long time, served as a leader. One
Members of Mombasa Port Sacco pose for a group photo at their tent with the trophies day when I leave, I would wish
they won during during 97th Ushirika day. for the continuity of the Sacco,
united members who maximise
By Anthony Mwachiro “At Mombasa Port Sacco, we leave
no stone un-turned. We are in
M
embers of Mombasa the long - life search for products
Port Sacco have all the and services that meet the needs
reasons to smile and of our clients. We seek to achieve
walk with their shoulders high client’s needs during recruitment
demonstrating their satisfaction campaign drives and even when
and confidence in the Sacco, conducting members education.
board of directors and the It is during this period that we
management since the Sacco also get to know the quality of
continues to excel during the products that meet the members
international day of cooperatives needs,” said the Chairman.
which in Kenya is marked as
Ushirika day celebration. The Chairman said the Sacco is
not worried of the stiff competition Mombasa Port Sacco Business Development
During the 97th Ushirika day possed by other financial service Manager ushering in CS Peter Munya to
national celebrations at a gala providers, because at Mombasa their stand during the national ushirika day
dinner held at Safaripark Hotel celebrations.
in Nairobi-the country’s capital
city, the Sacco bagged home
some of the most prestigious
trophies: Best Capitalized Sacco
country wide position 1 and Best
Capitalized Sacco - Employer
based position 1. The sacco also
received recognition as the most
efficient employer based sacco in
tier 1 and the best managed sacco
- employer based tier 1.
According to the Sacco Chairman

Alfred Konde, the Sacco is
committed to offer the best
within its reach to members and
maintain its leadership position
both in the region and nationaly.
Members of Mombasa Port Sacco express their happiness, displaying trophies they won
at the 97th Ushirika day celebrations.

EXCELLENCE
The adjudication committee

chairperson, Pius Omondi Alal,
was convinced by Mombasa Port
Sacco performance, owing to
the milestone it has made to its
current status.
The regional categories awards

were the best managed sacco
and the best insured sacco in
Mombasa region whereby they
emerged position 1. Others were
best innovative sacco tier 1.
For the last five years Mombasa

Port Sacco has been among
the top Sacco’s paying very
high dividends and interest on
Mvita MP Abdulswamad Nassir stretching a congratulatory hand to Mombasa Port members deposits.
members during the ICD ccelebration. Photo by Anthony Mwachiro.
However members are urged to
on savings not only for their take advantage of the reduced
social and economic growth but interest rates on the society
also for the welfare of the entire products in line with the
community.” government’s introduction of
capping of interest rate as well as
At the Mombasa County Ushirika enjoying the sacco loan facilitation
Day celebrations held at the efficiency.
Mkomani Show grounds, the
Sacco maintained its position 1 According to the board of
as the Best managed co-operative management, the Sacco is looking
society overall in Parastatal/ forward to increasing loan uptake
Public sector and highest among its members, a move that
dividends / interest in deposit. he said will be achieved through
Mombasa As their Motto states, cooperation vigorous marketing strategies that
The society featured in six Port Sacco for the benefits of all, Mombasa they have already put in place.
categories and topped in three. Chairman, port Sacco opened its doors
The Sacco has been trending in Board of targeting the local community Statistics at the accounts office
the cooperative sector gaining Directors and working outside the port, groups indicate a true revelation of this
recognition regionally and CEO receive with set goals (Chamas), small statement with a steady positive
nationally. the trophy at business person among other growth in deposit contribution
the national potential members regardless of with an increase uptake of 6.65%
According to Ushirika day ushirika day their background and economic in 2017. Report seen by Sacco
celebration report, Mombasa Port celebrations. status. Times.
Sacco was voted best insured.
The Chairperson had indicated

that they were concerned with
bringing impact to the rapid
growth in society.
The Chairman revealed that the

Sacco has invested heavily to
see its membership grow to over
10,000. In this regard, he said
there is need to assure members
of their investments by securing Mombasa Port Sacco CEO Dedan Ondieki leading
what they have invested with the the Sacco Directors in receiving a certificate for the
society.” best managed Sacco from Chief Officer in charge
of Co-operative, Rosina Wasoi.

TRANSFORMATION
Sacco pays Ksh.5m dividends to

members as it wears a new look
By Malachi Motano
U
rithi premier Sacco (UPS)
is rebranding to Premier
Sacco as it launches new
strategic plan to take the Sacco
through the next three years.
The 2019-2020 strategic plan

has also seen the Sacco’s vision
change ‘To be a premier financial
service provider’ and mission,
‘Empowering member through
promotion of savings and provision
of affordable credit’.
“We must be ready to embrace

change in this fast changing world
to avoid being left behind. The
board decided to make the vision
and mission statements simple
to enable easy understanding. Premier Sacco members attend the 2019 annual general meeting
In the spirit of transformation, Since inception three years ago, it among the top performing
we are also adjusting from Urithi society has continued to record Sacco’s.
Premier Sacco to Premier Sacco to wonderful performance that ranks
avoid confusions like the ones we In the last financial year which
have had in the past where people ended on December 31, 2018
mistook us for our ‘sister’ company membership stood at 8,965
Urithi Housing Cooperative,” compared to 7,364 previously.
Chairman Pius Thuku Ndung’u Indicating an increase of 21.8 per
clarifies. cent. The member deposits rose
to Ksh. 423,558,628 from Ksh.
Honesty, integrity, teamwork, 325,805,918 in 2017, an increase of
equity and efficiency (HITEE) form 31.2 per cent.
the overriding principles guiding
the society’s definition. “We appeal to members to
reconsider saving pattern and
Recognizing that value opposition increase their monthly deposits.
is necessary to understanding its This is the only way we can make
Premier Sacco chairman Pius Thuku gives
uniqueness, the Sacco proposes sound investments an secure our
highlights in his report at the 2019 AGM
on the members and stakeholders future financial security, “ says the
unique value proposition that Chairman.
encompasses cost leadership
(provision affordable products), The share capital grew by 27.5 per
product leadership which means cent from Ksh. 40,377,770 in 2017 to
meeting the needs of members, 51,468,032.
customer relationship, where the
Sacco tries to be intimate with According to the Chairman, in
customers. order to foster ownership of the
Sacco, each member is expected to
The Sacco also proposes solutions own a minimum of 500 shares at a
provider that prove leadership in value of Ksh. 20 per share. The asset
offering financial solutions and
Urithi housing cooperative society limited
treasurer Kevin Majau shares at the Sacco AGM base now stand at Ksh. 495,647098.
enable members to have confident The Sacco has also paid members
that premier. on their project in Lamu.

TRANSFORMATION
dividends that was worth Ksh. the year under review, the society
5million. On loan portfolio, out of also conducted member education
8,965 members already 1,500 have through mass media.
secured loans and the loan book
has grown to Ksh. 442,390,979. “We had a number of programs
featuring in the media stations
The society is encouraging touching on different areas of
members to save and borrow savings, credit, investments among
since it is the core business of the others. This was aired on Kameme
organization. FM, Radio Waumini, Truth FM,
Kameme TV Amon other stations,”
Premier Sacco staff pose for a group photo at
“I am happy to report that our loan the chairman states
book has tremendously grown. the begining of the AGM.
Our members today own homes, The Chairman appreciates that
cars and have improved their despite the fair share of challenges
businesses and making our society in 2018, the Sacco still manages to
to be stable,” notes the Chairman. record impressive performance.
“We have simplified loan “The year 2018 presented both

processing procedure to enable challenges and for example,
fast tracking of loan requests, ‘Cooperative attack’ which did
reviews and disbursement which not favour cooperatives especially
has reduced significantly the turn Saccos. Negative news and
around time between the receipt of grapevines has been the order of
loan application an disbursement. the year which had hit the pitch
Premier Sacco Chairman Pius Thuku responds to
The management appreciates with the fall and near collapse of
questions by Journalists at the end of the AGM.
that all Sacco operations have some Saccos, spreading fear and
been computerised to increase panic among members, leading to
efficiency in service delivery and panic and mass withdrawal but by
provide more value to members,” God’s grace we managed to turn all
he adds the challenges into opportunities. I
want to assure you that our Sacco is
The Sacco rely on management stable,” Chairman.
information system like Microsoft
dynamics NAV system which is far The Premier Sacco society was
much better in performances. The registered on June 10, 2015 under
management has ensured that the the the Ministry of Industrialization
system is properly customized and and Enterprise development.
deployed five fixing operation of
members’ accounts. The Sacco has Official from the cooperative department in It was founded by Urithi Housing
maintained the existing branches Kiambu County greets Sacco members before cooperative society limited to steer
to serve members better. During overseeing the elections. the vision of her members and other
Kenyans in accessing affordable
and reliable credit facilities.
The housing wing (Urithi Housing

cooperative society limited) has
also secured plots in Lamu for
Sacco members.
According Kevin Majau the

treasurer, Members can secure
quarter acres by depositing Ksh.
50,000 and installments of less than
Ksh. 7000 per month.
Majau was speaking during the

Premier Sacco annual general
Premier Sacco board of management and the Officer from the department of meeting (AGM) at the Taji Gardens
cooprative Kiambu County far right (the lady in red)pose for a group photo at the in Thika Sub-county.
end of the Sacco AGM.

GROWTH
Capital Sacco Carries Top FOSA Award

...as a Sacco
they are taking
their services to
a notch higher
to satisfy
their current
and potential
members.
At the Capital Sacco tent, the
governor was welcomed by the
Chairman Jackson Kinoti and the
Capital Sacco Chairman (Jackson Kinoti) and staff members welcome Meru present Sacco’s staff.
governor Kiraitu Murungi who visited their stand to congratulate them for
excellent performance during the 2019 cooperative day. While addressing gathering,
Capital Sacco Chairman said
By Titus Murithi as a Sacco they are taking their
C
apital Sacco has emerged services to a notch higher to
the top most Sacco which satisfy their current and potential
operates the FOSA and members.
with the widest network coverage
in Meru County. He requested community
members to join Capital Sacco for
The Sacco had won the same the latest efficient, effective, and
award last year, 2018. This was most modern financial services as
announced during the 2019 well as pocket friendly products.
International Cooperative
Day celebrations in Meru In his speech, the governor
County which was held at MCK Capital Sacco officials receive a trophy from praised Capital Sacco as one of
Abuthuguchi Boarding Primary Meru Governor Kiraitu Murungi during the the most well managed Saccos in
school, in Githongo location, 2019 cooperative day. the region.
Central Imenti Sub-county.
Capital Sacco retained the win in

Imenti North sub-county in the
category of the Key Co-operatives
stake holders in Meru County.
This win attracted the community

members who crowded the tent
to be explained the services and
products offered by the Sacco,
including Meru County Governor
Kiraitu Murungi who visited Capital Sacco officials receive a trophy
from central Imenti MP Moses Kirima Capital Sacco chairman Mr. Jackson
each tent to see what the Saccos Kinoti addressing the crowds during the
offered. Nguchine during the 2019 cooperative
day . 2019 cooperative day.

A subsidiary of:
nsurance
A g e n c y L t d
Wi t h yo u a lways
OUR VISION
To be a leading composite Insurance Agency offering
the best insurance services
OUR MISSION
To offer wide range of insurance products with
integrity and professionalism that will give our insured
a peace of mind
OUR CORE VALUES

Incisive, Innovation, Integrity, Indulgent,
Professionalism, Synergy (4IPS)
What we offer
Motor insurance, medical insurance; homeowners
insurance; personal accident: goods in transit and carrier’s
liability: fire & special perils: theft /burglary:
all risks insurance: money insurance: fidelity guarantee:
WIBA insurance: employer’s liability insurance: public
liability: professional indemnity: machinery breakdown:
contractor’s all risk: livestock insurance: crop insurance;
green house insurance
Email: insurance@capitalsacco.co.ke
contacts us: Mobile: +254703769478 | P.O Box 1479-60200 Meru
Or visit us at any Capital Sacco Ltd Branches
PERFORMANCE
Ollin Sacco takes the lead with flying

colours in Kirinyaga and beyond-Ushirika
By Apudo Were
A
s the world marked the
97th International Day
of Cooperatives which is
referred to in Kenya as Ushirika
day, it was another chance for
Ollin Sacco to prove its prowess
to savers both at the county and
national level.
During the celebrations that got

to climax at a gala dinner where
top performers were awarded
for exemplary work in the past
one year, Ollin Sacco scooped
one of the top and most
prestigious award for being
among the best Saccos in credit
management employer based –
Countrywide.
Members of Ollin Sacco Board of Directors led by Chairman Harrison Gachugo
Back in Kirinyaga, Ollin proved receive a trophy at the Ushirika day celebrations in Kirinyaga County.
to be the Sacco with the highest
interest on unwithdrawable directors and management are
deposit , a Sacco with the not sleeping. Our aggressive
highest savings per member marketers are always on toss
still, a Sacco with the highest looking out for new members.
dividend rate and Sacco with We also invest much on
the highest audit compliance member’s education to let
level (26 days) in category A that people know of the products
is comprised of Sacco with over that our Sacco offers,” the
Kshs. 61 million capital plus Chairman justifies their good
deposits. performance.
In an interview with the writer According to the Sacco Chief

towards the conclusion of the executive officer (CEO)
celebration which was held John Gathige Ollin Sacco is
at Kutus Primary School in committed to the prosperity of
Kirinyaga County, the Sacco savers in Kirinyaga and even
Chairman Harrison Gachugo the rest of Kenya. “We intend Ollin Sacco PR Manager Rose Muchiri
assures Savers in the County to bring everybody on board receiving a trophy at the national Ushirika
that Ollin which literally means remember our name portrays day.
ALL-IN is looking at bringing in that we bringing everybody
performing well and through
all savers in the County and the in (ALL-IN). Through various
member’s education, the Sacco
rest of Kenya. market surveys, we develop
has managed to win pastoralist
products for everybody,” says
mind and are now adopting a
“We can only achieve this by the CEO.
saving culture.
coming up with products that
meet the interest of everybody The CEO reports that last
Some of the saving products
in every part of this County two branches established in
include, like ordinary Savings
and at Ollin, both the board of Kiserian and Kitengela are
Account, fixed Deposit Account,

PERFORMANCE
Call Deposit Account, Children’s

Account, Joint Account, Group
Account, Business Account,
Stop Gap Account and Holiday
Account.
Ollin also has SPOT CASH a

state of the art mobile banking
system that enables members
of the Sacco to transfer money
to and from their accounts, send
enquiries, credit applications
and other banking transactions
through their mobile phones.
The subscription procedure

requires that a member duly
fills in the application form, Ollin Sacco board members and staff pose for a group photo with the trophies the
the member is then subscribed Sacco won during 2019 Ushirika day celebration.
to Spot Cash Mobile Banking
System on the Sacco’s MIS send the word spot to 6645 for
ensuring only the requested instructions on how to use SMS.
services are activated, and upon Thank you. Ollin Sacco
registration the member is sent
a text message to specified The Sacco has various loans
phone number with a PIN, for various people like
organization code and brief development and investment,
instructions on how to access the Sacco has, Development
Spot Cash like, dear JOHN Loan, Ollin Investment Loan,
ANONYMOUS. Estate Loan, Capital Loan and
Biz Loan. For salaried members,
You are now registered for Spot the Sacco has Ollin Premium
Cash. Your organization code is Loan, Supa Loan, Fosa Loan,
0054 and your secret PIN is ****. Fanikisha Loan, Okoa Loan and
Dial *645# to use this service. Alpha Loan. Other loan facilities
Alternatively, call 0900881015 at the Sacco include, Emergency
Ollin Sacco CEO John Gathige talking to Loan, Education Loan, Pamoja
and follow the voice prompts or members of the press on their success. Loan, Stop Gap Loan, Savers
Loan, Prime Loan and Ollin
Scholars Loan.
Having been registered on 14th

June 1976 Ollin Sacco Society
Ltd was registered on 14th June
1976 with a membership of
163 at its inception, has grown
and the membership currently
stands at 11,000.
With the head office located

in Kerugoya town, Kirinyaga
County in central region, which
is approximately 120km from
the capital city of Nairobi, it
is expanding, and today has
a branch in Mwea Ngurubani
Ollin Sacco members of staff and board being awarded for exemplary Town and a branch in Kitengela
performance during Ushirika day in celebration in Kirinyaga County. and Kiserian towns.

HEAD OFFICE KERUGOYA
P.O. Box 83-00300 Kerugoya | Tel: 0724 256 461 | CEO Direct Line: 0798 369 696
CUSTOMER CARE LINES: H/Office: 0707 555 825 / 0707 555 802
KITENGELA BRANCH: 0711 356 753 / 0707 555 892 / 0707 555 886
MWEA BRANCH: 0722 781 092 / 0707 555 863
KISERIAN: 0740485382
EMAIL: info@ollin.co.ke | www.ollin.co.ke
Ollin
Sacco
Features
• Competitive interest rates
• No withdrawals limits
• No ledger fees.
STOP GAP ACCOUNT

OLLIN PREMIUM LOAN
This is unsecured loan for government employ-
ees(TSC and civil servants)
•
•
•
•
The loan is 3 times member’s deposits
Competitive interest rate
The maximum repayment period is 24 months
The loan is subject to 1/3 rule as per government
regulations
• Secured by guarantors
Features
Together We Prosper This is an account for savings meant for retirement

purposes.
• This is a check off loan
• The loan requires 20% of loan to be rolled back
to deposits.
FANIKISHA LOAN
This is a short term loan open to all salaried members

Features • Repayment period is 60 months
whose salary passes through the SACCO.
• Earns competitive interest rates which are com-
pounded annually. ESTATE LOAN
How to become a member
• Withdrawals are done after retirement The loan is for the landlords/lady’s who want to ex- Features
One only needs to fill a membership application form • No minimum opening and operating balance pand their businesses. One has to open an estate • The loan is processed the same day.
and attach a copy of his or her national ID. Application • No ledger fees. account and channel the rental income through it • Competitive interest rate.
forms are available in all our branches and also can be for a minimum of 3 months. • Repayment period of 18 months
downloaded from our website. CHILDREN’S ACCOUNT • Security is guarantors
This is an account meant for children between age of Features
Deposit contributions • Loan qualified is subject to 75% of monthly OKOA LOAN
0 to 18 years.
Regular deposit contribution can be done through the rental income.
following ways:- Features • Competitive interest rate This is a one month loan open to all salaried members
• Monthly check-offs • Free bankers cheque to school • Repayment period is 72 months whose salary passes through the SACCO.
• Cash deposits • No minimum balance • Valuation of the property has to be done
• Dividend/interest capitalization • No ledger fee • Property is charged in favour of the SACCO as Features
• Mobile banking • Withdrawals is 3 times a year security of the loan • The loan is processed the same day.
• Free banking and fun day for children • Also the loan is accessible via mobile banking platform
PRODUCTS & SERVICES To open the account the parent/guardian to the child SUPA LOAN *645#
requires the copy of the ID and child birth certificate/ • Competitive interest rate.
SAVINGS PRODUCTS This loan is available to all salaried members who • Repayment period of 1 month
birth notification. are not employed by the government.
ORDINARY SAVINGS ACCOUNT ALPHA LOAN
CAPITAL LOAN Features
This is an account that is used for processing salaries, This is a loan for the newly recruited teachers and civil
pensions and normal savings. This is a loan for long term investment for members. • Members needs to save for at least 2 months
• The loan is 3 times multiplier. servants who have salary accounts with the SACCO but
Features • Competitive interest rate. are yet to receive the first pay.
Features
• Competitive interest rates • The loan is 3 times multiplier subject to 1/3 rule as • Repayment period is 48 months
per government regulations. • The loan is secured by guarantors Features
• No withdrawals limits • The loan is processed the same day.
• Use VISA branded ATM and mobile banking to • Competitive interest rate
• Repayment period is 84 months FOSA LOAN • Maximum amount qualified is Ksh 100,000
operate the account. • 20% is rolled back to the deposits
• No ledger fees. • Applicant to have a minimum share capital of This is a loan open to all salaried members whose
Kshs. 40,000. • Competitive interest rate.
salary passes through the SACCO. • Repayment period of 36 months
FIXED DEPOSIT ACCOUNT • The loan is secured by guarantors
• Security is guarantors
This is an account that earns interest on savings over a Features
INVESTMENT LOAN • This is an instant loan to a maximum of Kshs.
period of time. BIZ LOAN
This is a loan for capital investment such as 1,000,000.
Features development of commercial plots, residential homes • Competitive interest rate. This is a loan for business persons to fund their businesses.
• Competitive interest rates amongst others. • Repayment period of 60 months
• Reasonable minimum amount of KSh. 20,000 • Security is guarantors Features
• Can be used to access a loan. Features • A member saves for 2 months
• You forfeit interest if you withdraw before maturity • The loan is 3 times multiplier subject to 1/3 rule as EMERGENCY LOAN • A member qualifies 75% of the business proceeds
per government regulations. The loan is meant to take care of unforeseen • Competitive interest rate.
CALL DEPOSIT ACCOUNT • Competitive interest rate events such as hospitalization, funeral expenses • Repayment period of 36 months
• Repayment period is 72 months and court fines.
This is an account that is flexible to deposit savings • The loan is secured by guarantors MAPATO LOAN
and can be used to earn reasonable interest on money
that is idle. Features
DEVELOPMENT LOAN This is a loan available to mapato savings account holders.
• The loan is 3 times multiplier subject to 1/3 rule
Features This is a product to cater for capital development. as per government regulations.
Features
• The funds can be recalled any time and earn interest. • Competitive interest rate.
• A member have to save for at least 4 months before
• Earn interest on daily basis Features • Repayment period is 12 months
loaning
• Competitive interest rates • The loan is 3 times multiplier subject to 1/3 rule as • The loan is secured by guarantors
• The loan is 2 times ones deposits
per government regulations. • Security is guarantors
JOINT ACCOUNT • Competitive interest rate. EDUCATION LOAN
• Repayment of 24 months
• Repayment period is 60 months This is a loan meant to cater for school, college and • Competitive interest rate
This is an account for those willing to save jointly. • The loan is secured by guarantors university fees.
Features ZION LOAN
PRIME LOAN Features
• Competitive interest rates This is a loan for churches that can be used to access
• No withdrawals limits This is a loan to buy off loans from other financial • The loan is 3 times multiplier subject to 1/3 rule
credit facilities to finance church projects such as land ac-
• No ledger fees. institutions on behalf of members. as per government regulations.
quisition, construction, vehicle purchase, furniture purchase
• Competitive interest rate.
and equipment for the church such as music equipment.
GROUP SAVINGS ACCOUNT Features • Repayment period is 12 months
• This is a check off loan for members in the TSC • The loan is secured by guarantors
This is an account for registered self help groups. Features
and civil service only. • Encourage the church offering to be passing through
• The member’s salary has to pass through the OLLIN SCHOLARS LOAN
Features the zion account
SACCO or fill in the paypoint forms. • Save for at least 2 months
• No ledger fee • The loan to be appraised using 1/3 basic salary rule This loan is available to finance all levels of
• The group can access a loan(Pamoja loan) education. • The loan is 10 times deposits.
• The loan to be 5 times member deposits • Competitive interest rate
• Maximum repayment period is 72 months • Repayment period of 60 months
BUSINESS ACCOUNT • Competitive interest rate Features.
• This is a check off loan. • Security of the loan to be guarantors or charged and
This is an account for business people and enterprises. • Security will be guarantors valued title deed.
• The loan is processed instantly.
USHIRIKA DAY
Kenya marks 2019 Ushirika day

The cooperative movement in
Kenya is ranked high in Africa and
is one of the best globally due to its
asset base. Saccos hold the key to
the most effective realization of the
Big 4 Agenda due to their ability to
mobilise savings and also offer the
most affordable credit to millions
of households countrywide.
According to the Department of

Cooperatives, there are 23,000
registered cooperative societies,
which share among them 14
million members. Collectively, the
cooperatives hold Sh732 billion of
member savings, control an asset
President Uhuru Kenyatta tours the New KCC factory. base of Sh1 trillion and a Sh700
billion loan portfolio.
By Malachi Motano
P
resident Uhuru Kenyatta
led the national celebration
of 2019 international day
of cooperatives which is reffered
to in Kenya as Ushirika Day and
celebrated at the Counties as a
result of devolution.
The national celebrations kicked off

in Nairobi with President Kenyatta
commissioning the revamped New
Kenya Cooperative Creameries
(KCC) Dandora Factory.
The President then proceeded to

Upper Hill to officially open the
National Co-operative Housing President Uhuru Kenyatta joins thousands of dairy farmers for the inauguration
Union (NACHU) Plaza followed of the revamped New KCC Dandora Factory as part of celebrations to mark
by Mwalimu Towers in the same Ushirika Day.
area with the the climax of Ushirika
Day celebrations at the Kenyatta
International Convention Centre
(KICC) where he delivered his
keynote address as the Chief Guest.
He was accompanied by Trade and

Industrialisation CS Peter Munya
and Nairobi Governor Mike Sonko.
The Head of state directed Trade

and Industrialization Peter Munya
to start restructuring Kenya
Farmers Association and Kenya
Planters Co-operative Union for President Uhuru Kenyatta (Centre) led the marking of 2019 Ushirika day at
the benefit of farmers. KICC.

GROWTH
Mafanikio Vows To Maintain The Winning Trend

By Anthony Mwachiro is licensed to operate front
office accounts (FOSA)
M
afanikio Sacco has and has made significant
maintained top progress despite technology,
position as the economic and environmental
most innovative Sacco in the constrain and challenges.
tier one category four years in
a row in Mombasa County. At The society is among the few
the national level, they were that have been able to comply
position one most efficient in with the available regulation
tier 4 among employer based ratios and able to operate
Saccos. Mafanikio Sacco representative receiving a certificate without external money
for emerging 3rd Highest return on asset in the tier 1
sources.
category. Picture by Anthony Mwachiro.
This award comes after
the assurance from the Mafanikio has remained
Board to members that the stronger despite the imple-
management was determined mentation of the Finance Act
to give the best to its members. 2018, which negatively affect-
ed the finance sector plus the
In an earlier interview, the introduction of International
Board chairperson, Jonah Financial Reporting Stand-
Mutuku revealed that the ards -9 (IFRS-9)
Sacco has continued to live
by its means due to savings However, the society has
mobilization efforts. dedicated relationship
Mvita MP Abdulswamad Nassir saying stretching managers and partnership
a congatulation to Mafanikio members at the ICD
“Prudent managements of that expose them to
celebrations. Picture by Anthony Mwachiro.
new products and services, networking opportunity,
diversification, and highly
improved technology and
compliances with all statutory
requirements, is behind
our success,” revealed the
chairperson.
In the just concluded 2019

international cooperative day
celebration report, Mafanikio
bagged the recognition in
other categories among them
being 3rd best capitalized and
3rd highest return in the tier 1
category.
Mafanikio Sacco, which

initially drew it members from
Mombasa teaching fraternity, Section of Mafanikio Sacco members at the ICD celebration at Mkomani show ground in
Mombasa. Photo by Anthony Mwachiro.

GROWTH
and economic interest of her
members in accordance to
the cooperatives principles
and values.
According to statistics best on

the last two years, demand
for loans continued to rise
moving from Ksh. 551 million
in 2017 to Ksh. 640 million in
2018.
Income registered increased

to Ksh. 152 million from Ksh.
Mafanikio Sacco Chairperson Jonnah Mutuku following the proceedings during this year’s ICD 133 million at the end of 2017
celebration in Mombasa. Picture by Anthony Mwachiro. with Sacco assets clicking at
Ksh, 881 million from Ksh.
it’s routinely organized 785 the same period.
Chama investment summit
forums, education training Capital reserves also grew to
to members on personal Ksh. 126,743,226 from Ksh.
financial management 99,117,194 registered the
techniques and responsible previous year.
investments strategies for
their group initiatives, this Mafanikio management as-
also provide an exchange and sured retirees of their com-
knowledge sharing. mitment in ensuring mem-
bers who retire are well
The opening of a common served by their Sacco, with
bond back in 2015 has been plans at advanced stage to-
attributed to the steady wards improving its systems
Mafanikio Sacco Secretary Evan Mwachie addressing clients
growth of the society. to operations through cus-
during the ICD celebrations at the Mafanikio Sacco stand.
Photo by Anthony Mwachiro. tomization.
Currently, the society is not
only open to teachers but the
general public and those in
informal employments which
has improved the society
financial health, where one
can open an account with
little as Ksh. 500.
The Sacco has continued on a

steady modification path and
now has a mobile banking
platform that enables it to
provide better customer
experiences and efficiency
this include the visa cards,
branded ATM , services to the
members to promote welfare Mafanikio Sacco CEO Madam Eunice Kaboi receives a trophy at the national ushirika day
celebrations.

Mafanikio Sacco
ABOUT US • Qualification: share contribution(4 times)

Established in 1976 by teachers under teachers service • Documents: application form,latest pay-slip, copy of ID
commission. It has now opened its common bond to include • Salary to be channeled through the Sacco
private schools,where groups registered companies, self • 1/3 salary rule applies
help groups and members of the public. The core business is
mobilization of savings and issuing loans. 3. EMERGENCY LOAN
Product features:
VISION:- • Repayment period: 12 months
To provide financial empowerment through the provision of • Processing time: 30 minutes
quality financial services to our members by encouraging high • Qualification: share contribution (3 times)
savings, mobilization of funds, strong capitalization, prompt • Documents: application form, latest pay-slip, copy of ID
credit availability and continuous members awareness. • Salary to be channeled through the Sacco
MOTTO:- 4. EXPRESS- LOAN (INSTANT LOAN)

We are there for your financial success Product features:
• Payment period: 48 months
CORE VALUES: • Given to cater for any other needs
The guiding principles in the operation of the Sacco are: • Processing time: 1-7 days
• Customer focus • Processing time: 30 minutes
• Integrity • Qualification: share contribution (3 times)
• Efficiency • Documents: application form, latest pay-slip, copy of ID
• Professionalism
• Impartiality 5. SCHOOL FEE LOAN
• Innovation and creativity Product features:
• Corporate social responsibility • Payment period: 12 months
• Processing time: 1-7 days
FOSA PRODUCTS CATALOGUE • Processing time: 30 minutes
• Loan advance • Qualification: share contribution (3 times)
• Fanikisha business loan (SMEC) • Documents: application form, latest pay-slip, copy of ID
• Advances
• Salary advance 6. REFINANCING LOANS
• Ordinary advance Product features:
• Top up advance • Payment period: 48 months
BOSA PRODUCTS CATALOGUES OTHER ACCOUNTS

• Toto account
1. NORMAL LOAN • Super-savers account
Product features • Women enterprise fund-WEF loan
• Payment period: 48 months • Bankers cheque
• Processing time: within a month • Salary processing
• Qualification: share contribution(3 times) • ATM services
• Documents : application form, pay-slip, copy of ID • M-Banking/ electronic banking/ M-Pesa
• A member should not have any other loan to qualify for this • Business account
loan. • Standing orders
• Fixed deposit
2.MAFANIKIO SUPER LOAN • Holidays saver account
Product features • Micro-finance
• Payment period: 72 months • Pensioners advance
• Processing time:within a month
Jomo Kenyatta avenue Behind KCB Mvita Branch

Email: info@mafanikiosacco.com
18 SACCO TIMES | AUGUST - SEPTEMBER 2019 Tel:+254 (0711400784) / +254 (0734402011)
PERFORMANCE
Patnas Sacco Sparkles on 97th

Ushirika Day in Kericho County
By Correspondent the Board, the management
and the delegates that enabled
P
atnas Sacco proved the society increase in the
its prowess during the membership.
2019 ‘Ushirika’ Day
by emerging position one in While receiving the awards, the
both Growth in Membership Chairman thanked the CEO
(Fosa Saccos) and Growth Mr. Rono, the delegates for
in income (Fosa Saccos) in their aggressiveness in member
Kericho County. Ushirika Day recruitment which witnessed a
is the International Day of 13 per cent growth rising from
cooperatives. 13,650 in 2017 to 15,455 in 2018.
In Kericho County the He said, “We as the board are

celebration was held at the on a mission of recruiting more
Kericho Primary School and members in order to increase
this year’s theme dubbed, the Sacco’s deposits hence
“Cooperatives for Decent Work”. availing more funds to you in
The Chief Guest was the terms of innovative products
Deputy Governor, Kericho and ultimately improve the
County, Susan Kikwai who was financial safety of the society.”
accompanied by the CEC Trade
and Industrialization Eng. He said they will be recruiting
Philip Mason and the Chairman members from Kenya Tea
Kericho Ushirika celebrations Patnas Sacco CEO Nelson Rono poses for a photo Development Authority
Mr. Wesley Ngeno. by Sacco Times Journalist after the interview on factories, multinational tea
the exemplary performace at the 2019 Ushirikada
companies and privately owned
day Celebrations in Kericho County
The day attracted 26 Saccos and factories.
Marketing cooperatives.
The Sacco also became position

two in the highest growth in
loans (Fosa Saccos) category,
second position expenditure
income ratio (Fosa Saccos) and
third position most innovative
products (Fosa Saccos).
“It was indeed a joyful occasion

for us when our Sacco recorded
victory in those different
categories among Saccos in this
year’s Ushirika celebrations,’
said Joseph Kimett, the
Chairman of the society.
The Chairman flanked by

several board members
received the award with joy and CEC for Trade and Industrialization Eng. Philip Mason presenting an award to
said it was through the unity of members of Patnas Sacco.

PERFORMANCE
“Total loans granted increased
from 35 per cent from the
previous year due to the growth
in members’ deposits.
In addition our total assets

increased from Ksh. 294,994,669
in 2017 to Ksh. 508,019,135
in 2018 which was largely
supported by cash and cash
equivalent and the reevaluation
of the Cooperative Bank shares,
“the report read.
Patnas also witnessed an

increase in member fixed
deposits from Ksh. 20,025,700
to Ksh. 31,271,876 in 2018
A display of trophies Patnas Sacco won during the 97th Ushirika day Celebrations
The Sacco has Front office
held at Kericho Primary School.
services and activities (Fosa)
and Back office services and
“I am pleased to report that
Patnas savings and Credit
It was indeed a joyful activities (Bosa).
Some of the Fosa activities

Cooperative Society Limited
has continued to register growth occasion for us when include cheque deposits,
advance, Cash deposits and
our Sacco recorded
in all its areas of operations.
withdrawal, salary processing
and ATM withdrawal. While the
This good performance
demonstrates the high level of
commitment among the board,
victory in those Bosa services include, shares,
annual dividends and loans.
support from all our members,
management and staff who different categories The Sacco has microfinance
products which include, group
among Saccos in this

strive to meet the expectations
loans and short term group
of our stakeholders,” he said.
loans.
Patnas Sacco witnessed a steady
growth of 17 per cent of total
year’s Ushirika day It has branches in Sotik, Roret,
Cheborgei and Chebirbelek
revenue income from Ksh.
92,449,716 in 2017 to Ksh.108, celebrations.
746, 265 in 2018, an increase of
Ksh. 12,296,549.
The Total Interest Income

registered a growth of 17 per
cent from Ksh 28,045,908 in
2017 to Ksh. 32,929,608 in 2018
which was supported by growth
in the loan book.
Other key performance

indicators include a steady
rise in the uptake of loans from
Ksh. 51,178,525 in 2017 to Ksh.
60,562,074 borrowed in 2018.
Mr. Kimutai arap Soi, Patnas Sacco
Mr. Joseph Kimetto- Patnas Sacco
Vice Chairman.
Chairman.

Back Office Products {BOSA}
1. School Fees Loans
2. Emergency Loans
3. Development Loans
4. Business Loans
Micro Finance Products
1. Group loans
• Group members between 10-20
• Group should be registered
• Meeting monthly
Institutions/Groups/Societies Accounts
• This caters for institutions e.g. hospitals, schools/ 2. Individual loans
colleges, churches, tea buying centres, cooperative • Targets individual borrowers
societies and cattle dip e.t.c.
• Saving 10% of the amount borrowed
• No opening balance
• Stable business
• No minimum operating balance
• Six (6) months Bank statement
• Cheque deposit
• No ledger fees 3. Asset Finance
• Targets Boda Boda members
Lakwet Account
• Group must be registered
• Accounts for children below 18 years
• Savings of Kshs. 15,000 per individual member
• No opening balance
• Each member must have valid Driving License
• No minimum operating balance
• Loan repayment period of one year (1 year)
• Interest earning threshold Kshs.5,000
• Repayment is done on daily basis
• Competitive interest rate
• No additional security is needed as the asset is self
• Operated by parent/guardian secured
• The asset must be insured
Other FOSA Services/Products • Quick and easy application process
• M-pesa • Cheque advances on

uncleared cheques Head Office
• Bankers cheques
PATNAS PLAZA, along Kericho Sotik Highway
• Salary processing and • Emergency loans
P.O. Box 601 - 20210 Litein, Kenya
payments • Introduction of Cell: 0720 938 233 | Email: info@patnassacco.co.ke
• Interest on deposits cheque books Website: www.patnassacco.co.ke
• Pension processing • M-banking
Branches: Litein and Sotik
and payments • SMS alerts
• Salary advances • Agency banking Paypoints: Sotik, Roret, Chebirbelek, Cheborgei
“Tushirikiane Pamoja” “Tushirikiane Pamoja”
Our History Vision Front Office Service Activities

{FOSA Products}
PATNAS Sacco Society Limited was To be the leading modern savings
first established as Bureti Sacco Society and credit co-operative society in
Personal Savings Accounts
Limited in 1989 by farmers from the Bureti Kenya, working towards providing
area of Kericho County and was registered one stop shop for all members’ • No opening balance • Access loans
on 2nd March 1990 under the Cooperative financial needs. • No minimum • Dividends from Shares
Societies Act. The Sacco’s head office is operating balance • Mobile banking
located at PATNAS PLAZA in Litein Town,
• Cheque deposits • SMS alerts
Kericho County. Mission
• No ledger fees
The Sacco has two branches; Litein and
To mobilize savings from existing • ATM (Sacco link) card
Sotik and three paypoints namely: Roret,
and potential members with a • Access advances
Cheborgei and Chebirbelek. Over time,
view of providing prompt, quality
the Sacco has grown its membership Sacco B Account
and efficient financial services
tremendously following extensive
thereby building an economically • No opening balance • Access advances
marketing by all stake holders of the
empowered community in the
Sacco fraternity. The Society’s growth • No minimum • Access loans
cooperativespirit.
has also benefitted from operational and operating balance • Dividends from
technological improvements undertaken • Cheque deposits shares
by the Sacco management including;
• No ledger fees • Mobile banking
banking hall refurbishments, interlinking of
FOSA services, increase and expansion of • ATM (Sacco link) card • SMS alerts
Sacco products to suit members needs as
well as introduction of Sacco Link Cards.
The introduction of Sacco Links Cards
was a complete turn around for the
Sacco success as it enabled the Sacco
to compete with other financial
institutions such as banks on offering
the same services while boosting FOSA
commissions. Location of our branches
is aimed at bringing services closer to Core Values
our members and customers as well as
tapping into their unique offering. • Effective and efficient • Team work
service delivery • Professionalism
The opening of Cheborgei branch was
• Democracy • Respect Fixed Deposit
an added value to the Sacco growth as
the area is renowned for tea and dairy • Equity and equality • Integrity • Deposits are made for a fixed period 1,3,6,9 or 12
farming. In the near future, the Sacco • Visionary leadership • Information and months.
plans to roll out additional outlets in other • Commitment/loyalty knowledge • competitive Interest rates of UPTO 13% P.A
strategic locations across Kericho county
• Transparency and • Social responsibility to • Cash deposits or direct transfers from savings
and into other counties across Kenya.
accountability the community • Minimum fixed amount Kshs.50,000
• Withdrawals made at the end of the expiry of the
AUGUST - SEPTEMBER
contract period 2019
and can be | SACCO TIMES
renewed 21
“Tushirikiane Pamoja” “Tushirikiane Pamoja” “Tushirikiane Pamoja”
PERFORMANCE
Boresha Sacco rated best

overall in Baringo County
By Enock Kipturgut
B
oresha Savings and credit
co-operative society is the
2019 overall best cooperative
society in Baringo County.
The award was issued by the

Kenya Union of Savings and Credit
Cooperative Limited. (KUSCCO)
limited for its quality service
delivery to members.
The revelation was disclosed at the

just concluded 97th Ushirika Day
celebrations that was marked at the
Anglican Church of Kenya Mogotio
grounds at Mogotio Sub County.
The Sacco further received the

second award as the leading Sacco Boresha Sacco staff and Director Lessonet receive the award from the Chief quest
in product diversification that Mr. Ndirangu.
has attracted members to join the The Ushirika day Celebration “Indeed, celebrations are going
Sacco in leaps. committee Chairperson Mrs on all over the world today,
Pamela Kimetto thanked the whereby cooperators reflect on the
Boresha Sacco currently has 95 Sacco managements for attending achievements made in the last one
thousand members with a target of the auspicious event and their year, examine existing challenges
150,000 by 2022. cooperation during the initial and forge ahead with renewed
planning stage. energies in the path of national
government- using collective
cooperative effort and team spirit,”
explained Mrs Kimetto.
She thanked Savings and credit

cooperative and marketing
Farmers’ cooperative societies for
recruiting and involving women
and youth in the leadership
positions in their societies.
Boresha Sacco has two women

board of directors and several lady
delegates across its electoral areas.
Mrs Kimetto observed that
cooperative movement play an
active role in resource mobilization
that has greatly improved the
saving culture among members
going along way to improve
members’ livelihoods through
Boresha Sacco staff and other participants keenly follow the Ushirika Day
affordable loans.
celebrations.

PERFORMANCE
is on the process of introducing
She attributed this to good agency Banking through point of
governance among cooperatives sale in all the Sacco catchment
spread across the county. areas.
The chairperson expressed her He said feasibility study is ongoing

concern over the micro finance adding that this is aimed at
components in the Sacco based widening outreach and taking
credit and finance which members services closer to the members.
greatly benefited from citing
Boresha Sacco. “It’s after the feasibility study that
we will write a proposal to the
“We call upon Baringo county Sacco society regulatory authority
government to roll out tailor- made A new member is taken through registration pro- for approval hence we urge our
credit facilities to be channeled cedure at the Sacco tent during the ushirika day members to be patient,” said the
through credit cooperative celebrations. chief executive officer.
societies,” she said.
He said Boresha Sacco is among
The theme of the 97th Ushirika day the top twenty Sacco’s across the
celebrations was “Cooperatives for country to be licensed by SASRA
Decent work,” operate deposit taking Sacco.
Boresha Sacco Business “We have members who are

Development Manager Mr. currently enjoying the fruits of
Philemon Chebii thanked the saving with the Sacco. They are
organizers for convening the entitled to loans according to the
international day of cooperatives amount they receive after they
- Baringo chapter in Mogotio sub retire,” He disclosed.
County.
The CEO said that the four agency
He said Boresha Sacco has Chief Officer Livestock and Fisheries Mr. Isaack offices namely; Tenges, Mumberes,
embraced technology citing M- Ndirangu chats with the Ushirika Day Chair- Kipsaraman and Kisanana have
Boresha mobile platform where person Mrs. Pamela Kimetto at the ushirika day been upgraded to fully fledged
members transact Sacco services celebration. branches following the last annual
at their door steps. delegates meeting endorsement
and subsequent licensing by
“We urge members to register the regulator, the Sacco Society
themselves with our new Regulatory Authority (SASRA).
technology at our branches in
Baringo, Nakuru, Uasin Gishu, The upgrade of the four agency
Nandi and Laikipia counties,” offices to fully fledged branches
Chebii said. brings the number of branches to
fifteen Eldama Ravine, Kabarnet,
Mr. Chebii furthermore asked Marigat, Kabartonjo, Mochongoi,
members to save their money with Barwesa, Mogotio, Chemolingot,
the Sacco to assist them during Eldoret, Nakuru and Kapsabet.
their retirement period adding
that Boresha Sacco is the financial Business Development Manager, Mr. Philemon Land and Fisheries Chief Officer
provider of Choice. Chebii with a Director Mr. Lessonet at the Ushirika Baringo County Mr. Ndirangu
day Celebrations. who represented County Governor
Chebii assured members that Mr Stanley Kiptis said that the
Boresha Sacco continues to “We call upon our members to county government is committed
offer them with affordable loans practice crop diversification to to support cooperative societies in
portfolios issued with low interest enable them repay their loans the county.
rates. promptly,” He observed.
He said the County Government
He thanked Farmers’ cooperative Speaking to the Sacco times as set aside funds for the
societies and deposit taking Sacco’s magazine at the side lines of the establishment of more milk
for their cooperation and service Ushirika day celebrations, Sacco’s cooling plants for value addition
delivery to members in a bid to chief executive officer Mr Moses for farmers’ cooperative societies.
empowering them. Chebor said that Boresha Sacco

EXCELLENCE
Imarika ranks among the

best Saccos in Kilifi County
By Peter Angore
I
marika Sacco is ranking
among the best Saccos
in Kilifi after it led the
pack in seven out of fifteen
competitions, lifting it to the
league of the best Saccos when
the County marked the 97th
Ushirika day celebration.
The Sacco also emerged the

overall winner in the category of
the best insured co-operative in
Kilifi County, number one in the
category of Best co-operative in
information technology (ICT)
and best Sacco in loan servicing Kilifi County Minister for Cooperative Development, Ms. Nahida Mohammed consults
category. with Kilifi county Ushirika Day committe chairman, Mr. Renson Ndoro during Ush-
irika Day celebrations held in Malindi town recently.
Other categories where the
Sacco performed well included County Ushirika day steering will by the members, delegates
Education and Training committee, was categorically and the management.
where it emerged the winner, happy for the good performance Imarika SACCO which
best Sacco in the category of by the Sacco. He attributed the was registered in 1974 has
concern for the community success of the Sacco to the good experienced a tremendous
(CSR). growth over the years. Started
by merely less than 100
Under this category the members mostly Teachers in
Sacco registered a foundation Malindi, the Sacco opened its
(Imarika foundation) an NGO common bond in 1998 to pave
outfit to propagate the CSR way for other categories of
issues of the Sacco, the best members to join.
Sacco with the most diversified
products and lastly the Sacco Formerly known as Kilifi
was awarded position one in Teachers Sacco, rebranded
the category of best employer to Imarika Sacco in 2013. The
among the co-operative idea to rebrand was at first met
organizations in the very with resistance by the original
County. members (Teachers) for fear
of losing identity but finally
While receiving the trophies members bought the idea.
Chief Guest, Kilifi County Government Execu-
and certificates from the tive Committee Member in charge of Cooperative
chief guest, the Imarika Sacco Development, Trade and Tourism, Hon. Nahida Today the Sacco boosts of a
Chairman Renson Ndoro who Mohammed, who represented County Governor, membership growth of nearly
is also the Chairman of the Kilifi Mr. Amason Kingi, speaking during the 97th Ush- 100,000 members with a
irika day.

UPDATE
EXCELLENCE
business turnover of Ksh1.36 through a range of diversified
billion as at end of December, member driven products and
2018. services.
Up to 1997 the Sacco had only As at June, 2019 total assets

one business activity, the stood at Ksh8.1 billion and a
main stream Sacco business projected turnover expected
known as BOSA, but due to the to hit Ksh1.47 billion by end
opening of the common bond of December, 2019. Truly
in 1998 the activities added the Sacco lives to her motto
up by two (FOSA & MSCA) to “together we grow”
make three - (BOSA, FOSA, &
MSCA) the BOSA activity caters The Imarika Sacco Delegates,
for members who operate Management and staff , it was
through check-off system, all ululations all over when
these are salaried and the the Chief Guest Hon Nahida
employers have arrangements (CEC Member, trade, tourism
with the Sacco to remit monthly Mr.Renson Ndoro, Kilifi County, Ushirika Day and co-operative development
deductions by cheque. steering committee chairman and Imarika Sacco called upon Imarika SACCO
chairman, speaking during the 97th Ushirika Day to come forward to collect up-
The FOSA members are those celebrations held in Malindi town in Kilifi county to seven awards won during
recently.
remitting Sacco deductions the 97th international day of
through standing orders (SO) cooperatives locally known as
these are business men and Ushirika day celebrations held
women together with the at Barani secondary school
self-employed people. MSCA ground in Malindi.
members are those who join
under group membership Imarika Sacco which was
of 10 to 30 members and represented by the entire
registered by the social services SACCO delegates, led by
department. the board of directors and
management, clad in branded
All along the Sacco is out white shirts/blouses with black
to empower its members trousers/skirts bagged home
economically by promoting a almost half the prizes at stake.
savings culture and advancing Kilifi commissioner of cooperatives James Mwasi
financial products to improve gives his speech when the County celebrated 97th
The Chief guest thanked all
their socio-economic welfare Ushirika day in Malindi town the co-operative societies
who found time to attend
and participate in the various
categories of competition.
The event which is held

annually by leaders and
members of the co-operative
movement around the world,
converging both at national
and regional fora to reflect
on the importance of the co-
operative movement, take
stock of their achievements,
challenges faced and map the
Kilifi County Ushirika Day top officials during 97th Ushirika Day celebrations held at way forward in a bid to improve
Barani Secondary school in Malindi town recently. the business of the sector.

“MOBILE BANKING”
“YOUR CONVINIENCE, OUR CONCERN”
With this era where everyone is hustling to make ends meet, convenience and reli-
ability in accessing financial services at one’s comfort is paramount. At Imarika
SACCO we do exactly that. With your mobile phone at hand you can access a
range of services at a click of the button.
BENEFITS:
•
CONGRATULATORY MESSAGE
Access your account anytime anywhere (convenience)
• Saves you The Chairman,
time and energy Board, Management and staff of Imarika SACCO
• wish
Faster and to congratulate Kenya Police Sacco for the opening of the new
reliable
Kakamega branch in line with your strategic expansion programme.
• Keeps you informed about your account (alerts on loans, salary,
cheque maturity, ATM, guarantors)
MOBILE BANKING
• Borrow money at your own comfort (MKOPO HEWANI)
Imarika Sacco considers your convenience in accessing banking services. With
Mbanking /Spotcash you can access your account anytime, anywhere. You can
access the following services:-
SERVICES OFFERED
• Mobile Cash withdrawals
• Cash deposits
• Mobile& withdrawals
Deposits
• • inquiry
Balance Balance enquiry
(Savings, loans, shares)
• Savings
• Airtime• purchase
Shares
• • Loans
Mini statement
• Air time
• Funds transfer
• Mini-statement
NB • Mobile funds transfer
• Mkopo Hewani (E-loan) advance
This service is•available to any member who registers
Sms alerts
• Salary
for spot cash services. alerts
Registration is free. Join today
• Loan granted alerts
and enjoy all the mobile banking
• Cheque services
maturity alertsfor your
convenience and• Guarantor
reliability. notification alerts
• ATM transaction alerts
OUR CONTACTS
OUR CONTACTS:
HEAD OFFICE (KILIFI) KITECOH COMPLEX
HEAD OFFICE (KILIFI) KITECOH
P.O. BOX 712 COMPLEX
- 80108, KILIFI
HELP LINE: 0726007037/0782007037/0777007037
P.O. BOXEmail:
712-80108, KILIFI
info@imarika.org
HELP LINE: 0726007037/0782007037/0777007037
Email: info@imarika.org
PERFORMANCE
K-Unity comes top

amid tight competition
By Charles Were.
K
-Unity Sacco has come top
again in this year’s “2019
Ushirika Day Awards”
scooping top positions in Deposit
mobilization in the category of large
saccos and also in Branch Network
coverage.
This year’s event which was celebrated

per county, themed “cooperatives
for decent work” was celebrated in
Limuru model primary school on the
July 6, 2019.
Business Development and K-Unity members of staff attend the 97th Ushirika day celebrations held at
Marketing manager Mr. Joe Nderitu Limuru Model Primary school.
attributed the performance to new
marketing strategy put in place by the of large saccos making it well In the period under review,
team in the institution. positioned to fight it out with Nderitu said the business has
multinationals in the banking faced stiff competition from
With its presence in the five counties industry. digital (online) lenders such as
the society competes in the league Tala, Mshwari among others,
which has flooded the banking
market.
K-Unity has faced inflation

which negatively affected
the members deposits and
business, however it has risen in
perfomance.
K-unity offers several products

that targets salaried employees
and pensioners which includes
short term loans, Inuka loans,
Salary advances, asset financing
among others.
That the Sacco operates

in agriculturally endowed
counties, Mr. Nderitu said they
K-unity exhibit their products at the 97th Ushirika day celebration in Kiambu have tailor made products that
County.

PERFORMANCE
addresses crop farmers in this
areas which includes Crop
advance, tea bonus advance,
Jijenge loan, Development
loans just to mention a few.
The society draws its

membership from five counties
namely Nairobi, Nakuru,
Nyandarua, Kiambu and Narok.
Apart from savings and credit

services K-Unity has other
business lines which include
property which manages Mapa
House, Githunguri, Kiriita,
K-Unity Sacco staff pose for group photo with the trophies of excellent
Limuru, Wangige and kikuyu
performance.
buildings and Mapa Insurance
agency which has been in
fellow members, cooperative
operation for the last 2 decades.
On its mobile bank platform the workers feel ‘a combination
Bank launched Unicash mobile of a quest for efficiency,
K-Unity’s Primary objective is to
app, which allows its clients to shared flexibility, a sense of
promote a culture of accelerated
check balance, transfer funds, participation, a family-type
monthly savings by the
generate mini statements, send, environment, and a strong
members from which loans are
deposit and withdraw money to sense of identity among others”,
disbursed to them for provident
M-Pesa, deposit to the account Mukele noted.
and productive purposes.
via M-Pesa and more.
He added that it is important
In trying to meet its vision
In his speech, Assistant County to see how they (voperatives)
to be the most preferred
Commissioner Charles Mukele can create employment
financial services provider,
challenged the youth to take opportunities in areas where
while transforming people’s
the opportunity to join Sacco’s, public and private sector
lives positively and growing
so that they can contribute initiatives are weak or absent.
shareholder wealth, K-Unity K-Unity
positively to the community.
has provided financial services officials and
members “Our presence evident in sectors
affordably to its customers
pose for a “As a result of being value- such as agriculture, banking,
while giving value to investment
photo. driven and enterprises owned, insurance and real estate
funds.
controlled and run by their among others, shows what we
can all achieve when we come
together, to work for a common
goal”, reiterated Mukele.
KUSCO’s official Mary Njuguna

while addressing was happy
with the job being done by
Sacco’s.
“Our work of formulating

,regulating policies framework
through research and
consultancy has been smooth
and we give credit to all saccos
within this region”, she added.

COUNTY UPDATE
County urges entrepreneurs to embrace

cooperatives model to maximise returns
By Malachi Motano
T
he Trans Nzoia County
government is challenging
entrepreneurs in the region
to embrace the co-operative
business model in order to
maximize returns in their various
economic ventures.
According to Trans-Nzoia Deputy

Governor Dr. Stanley Tarus ,
most entrepreneurs in the region
registered poor growth owing to
limited financial capability brought
about by limited financial muscle.
“Cooperatives are the best vehicles

that can assist entrepreneurs to
access financial credit which can Deputy governor Stanley Tarus commended the growth of Sacco’s in Trans Nzoia
help them boost their growth,”
County.
Dr. Kenei spoke during the 97th
Ushirika day celebrations in Kitale. Warui said limited capacity among
Dr. Tarus commended the growth

officials of cooperative societies
in the region remains a challenge
“Cooperatives are
of cooperative societies within
the county following sensitization
in enhancing efficiency in their
services.
the best vehicles
and support by the department of
Agriculture, Livestock, Fisheries “We also challenge those wishing
that can assist
and Cooperative development. co-operative societies to take due
diligence by counter checking their
entrepreneurs to
He says, “We have a total of 126
cooperatives with an accumulated
eligibility with our officers at both
county and sub county levels to
access financial
members’ deposits of Sh 1.3
billion, an asset value of Sh 2 billion
avert cases of being defrauded,”
said Mr. Warui.
credit which can
, loan portfolio of Sh 1.3 billion and
membership of 38,415.” The chairman of the Trans Nzoia
help them boost
The county executive committee
county Co-operative development
Committee Daniel Kitua said
their growth,”
members in charge of Agriculture
Mary Dzomo said the county frequent power outages have
government is committed to been affecting the operations of
the growth of the co-operative most deposit taking cooperative
movement. societies in the region which have
no capacity to invest in back up
“We recently employed five co- power systems.
operative officers and five audit
officers for our sub counties to “Technological systems that we
assist in capacity building and use in our operations require
assisting cooperatives to be constant power supply for linkages
compliant with regulations,” said to branches and monitoring by
Mrs. Nzomo. our regulators. We are affected by
frequent blackouts,” said Mr. Kitau
The Trans Nzoia county who also chairs the Trans County
cooperatives director Samuel 97th Ushirika day celebrations in Kitale Sacco.

OUTREACH
UTS
employees
led by their
director
Jones Nzau
(second
right) pose
for a photo
with the
trophy and
a certificate
for being best
improved
Sacco in
Machakos
County.
UTS Excels At The 97 th
Ushirika Day Celebration

By Patrick Mutisya In Machakos County the sustainability.
Sacco again scooped the most
I
t is now evident that Universal prestigious awards for being the UTS together with other Co-
traders Sacco (UTS) is not Sacco with largest outreach. The operators in Machakos County
only performing exemplary in Sacco also emerged as the best joined the rest of the world
Machakos County and the rest of improved Sacco in Machakos in marking the International
lower Eastern but also excel at the as well as the largest Financial Cooperative Day better known in
national level. Outreach in Machakos County Kenya as Ushirika Day, annually
and the remaining lower Eastern. to reflect on achievements of the
As the Country marked national co-operative movement at the
celebrations in Nairobi, the With a network of six branches and ACK Church grounds.
Sacco emerge position one five field offices spread out in the
among the best Saccos in risk lower Eastern region. UTS offers The event brought together various
management, position three well-structured and affordable leaders who highlighted the
both in Capitalisation and best products and services geared at important role that Cooperatives
improved among the community meeting the needs of its clientele play in economic development in
based Saccos. who range from farmers, micro- Kenya.
entrepreneurs, civil servants, self-
The Sacco members advise that If help groups and associations. The cooperative movement in
you are thinking of saving, don’t Machakos includes marketing
thinks of commercial banks or As a result of the evolving nature co-operatives in the areas of
large microfinance institutions, of the industry, the UTS research Coffee, Dairy, Horticulture and
think UTS and if you get stuck, it and marketing team continually Handcraft, Sand Harvesting,
will always reach out for you as it apply technology and innovation Savings and Credit Co-operative
has always demonstrated at the to develop products that address societies commonly known as
Ushirika day celebrations. the needs of our members without Saccos.
compromising its financial

OUTREACH
encounter many challenges while
Addressing cooperators, Stephen
Kilonzi, Chief Officer co-operative
development and marketing
...the government in the process of meeting their
objectives.
said the objective of Machakos

County Government is to grow is aware that co- Mavoko MP Patrick Makau
said that the cooperatives are
the economy in line with vision of an important and efficient
Governor Alfred Mutua.
operatives encounter instrument to create wealth and
fight poverty.
“This is through a strong and
sustainable co-operative
movement in line with this year’s
many challenges “They bring people together in a
democratic and equal way and
theme Co-operative For Descent
Work” he said. while in the process allow people to take control of
their economic future,” he said
Mr. Kilonzo said the County

Government has in the current
of meeting their He said that the cooperative
societies are envisaged to play
financial year 2019/2020 allocated
Kshs. 45million for support of co-
operatives.
objectives. a key role at all the stages of the
value chains. Said Makau, they
will enable members to enjoy
scale economies at various levels
Said Kilonzi, this will facilitate of value chains that they have
the provision of extension and be competitive in the market. targeted”.
support, capacity building, value
addition and credit facilities to He added that the County Commissioner for co-operatives
members through establishment Government is also working Machakos County Mr. Harrison
of a revolving fund which be closely in collaboration with the Nyamu called upon Kenyans to
administered by the co-operative Cooperative University of Kenya cultivate the culture of saving for
department”. to ensure enhanced capacity cooperatives and urged residents
building for the cooperative to join cooperative societies.
The Chief Officer added that movement whereby various
another 18million has been courses and training will He urged cooperative societies to
allocated for the promotion of be available for cooperative set industry standards by putting
coffee farming through provision members. into practice their values and
of coffee seedlings, which will ethics.
help in increasing the yield per Mr. Kilonzo said the government
tree and quality of coffee that will is aware that co-operatives “Cooperatives are seen as leaders
in promoting food safety and
security, and in protecting the
environment,” the commissioner
added
He noted that cooperatives are

building peaceful societies by
promoting understanding and
collaboration among people of
different cultural and income
backgrounds.
Machakos Co-operative Union

chairman Mr. Patrick Katingima
noted that they have been em-
bracing Information Technologies
to reach out members and to even
send short massages.
Cooperative movements within

Universal Traders Sacco Society Ltd Machakos employees led by their Director Jones the county have netted 212
Nzau (center) being recognized by The CIC Group Machakos county Relationship registered Sacco’s from the initial
Manager for co-operatives Maureen Gichaba (right) after evolving the best Largest 89 at the advent of devolution.
Financial Outreach Machakos county.

UNIVERSAL TRADERS SACCO
1) SACCO MEMBERSHIP 3) LOAN SERVICES
Membership is open to Business people, farmers • EMERGENCY LOAN
and employees of both Public and Private • ASSET FINANCING
Institutions. • NORMAL LOAN
• BIASHARA LOAN (GROUP LENDING PRODUCT)
2) FRONT OFFICE SAVINGS • BIASHARA PLUS LOAN/SUPER GROUP LOAN
ACCOUNT (FOSA)
• CURRENT ACCOUNT 4) AGRI-BUSINESS PRODUCTION
• AKIBA ACCOUNT (FOSA Savings Product) • DAIRY FARMING/DAIRY ADVANCE
• FAIDA ACCOUNT (Fixed Deposit)
• TOTO ACCOUNT (Children’s Savings
Account) • MKULIMA HALISI (LEGUMES) NDENGU & PEAS
• NAWIRI ACCOUNT (Contractual Savings
Account) • MKULIMA BORA PLUS LOAN
• YOUNG TURKS ACCOUNT
• CORPORATE CURRENT ACCOUNT
• MWETHYA ACCOUNT (Group Savings • MATUNDA LOAN
Product)
• CHAI PLUS LOAN
• LIVESTOCK LOAN
• MWANGAZA LOAN
SACCO LINK DEBIT CARD
M-SACCO Dail *346# 5) CHECK OFF LOANS

(Registration is Free) • TSC/CIVIL SERVANTS/COMPANIES/
UPESI LOAN UNIVERSITIES & PARASTATALS Employees
Loan Accessed through Mobile • EMPLOYEE SALARY ADVANCE
phones • EMPLOYER SALARY ADVANCE
WOTE BRANCH EMBU BRANCH TALA BRANCH

HEAD OFFICE – MACHAKOS P.O. BOX 205 – 90300, P.O. BOX 2681-60100 P.O. BOX 68-90131
P.O. BOX 2119 – 90100 WOTE TOWN, JASHO BUILDING, HOME LAND PLAZA
TRADERS HOUSE TEL: 0717 729 349 TEL: 0721 423 687 TEL: 0716 127 090
TEL: 0716 127 102
KITUI BRANCH KATHIANI BRANCH MLOLONGO BRANCH
FAX: 2021350
P.O. BOX 2119-90100 P.O. BOX 2119-90100 TEL: 0757 620 303
JEE PLAZA KATHIANI MARKET
32 SACCO TIMES | AUGUST - SEPTEMBER 2019 Tel: 0716 064 142 TEL: 0717 687 112
PERFORMANCE
Cosmopolitan emerges as the best

Sacco in Nakuru County-Ushirika
County is now targeting to
increase its membership to
30,000 and grow the Sacco asset
base to Kshs. 10 billion by 2020.
The Sacco Chairman assures

that already the Sacco has
put in place mechanisms and
machineries ready to hit the
road with intensive recruitment
drive and conduct proper
members education in their
target areas.
“We want our membership to

reach 30,000 by the end of next
year. We are investing much on
marketing, recruitment drives
Cosmopolitan Sacco members of the board led by Chairman John Muigai receive and members education. We
a trophy for the best overall Sacco in Nakuru County. have bought a ‘modern-classic’
vehicle and so marketing will
not be an issue and to top
By Malachi Motano
“Many times members need updates on the up, the Sacco has motorbikes
T
marked for the same exercise,”
he Ushirika day planning
committee awarded top
Sacco. When they have the most current says the Chairman.
performing Savings and information they can even help us reach out Reaching diaspora
credit cooperative societies
(Saccos) with Cosmopolitan for more members. To achieve this, we have Madam Loice Methu is the
Sacco, formerly Nakuru teachers Sacco’s Chief executive officer
Sacco scooping the best overall
decided to upgrade to a digital website to (CEO), “At the moment I can
trophy when the County enable members and everybody who wish confidently say that we are
exhausting Nakuru County.
joined the rest of the world in
marking the 97th international to register and pay monthly contribution to We also have our members in
other towns, Counties and even
day of cooperatives reffered
to in Kenya as Ushirika day
do so from where they are.” abroad.
celebrations.
Many times members need
According to the Sacco updates on the Sacco. When
chairman John Muigai, they have the most current
Cosmopolitan is the heartbeat information they can even help
of Savers in Nakuru county as us reach out for more members.
it comes up with products that To achieve this, we have
are for the interest of every one decided to upgrade to a digital
from teachers, transporters, website to enable members and
fishermen, the formerly everybody who wish to register
employed and even ‘mama and pay monthly contribution
Mboga.’ to do so from where they are.
Chief guest Raymond Komen the CEC
incharge of Cooperatives in Nakuru addresses She adds that the digital website
Moving on
participants when the County marked the 97th will also help in marketing the
The Sacco (Cosmopolitan) - the
Ushirika day at St,. Joseph’s Primary School in Sacco (for example the popping
heartbeat of savers in Nakuru
Nakuru town.

PERFORMANCE
add like those of online Already the Sacco has four
lenders). branches in Bahati, Molo
Naivasha and Narok, but is also
The CEO says the Sacco will also looking at establishing a satellite
introduce Pesa link very soon branches in Olenguruoni to tap
to allow members to transfer savers in Keringet, Mwisho wa
money from wherever they are Lami to tap those in Mau Narok
to any account in any bank they and Subukia to tap savers in
wish. Nyahururu.
People living with Chairman, “At Cosmopolitan

Cosmopolitan Sacco CEO Loice Methu takes a Sacco, we are helping our
disability
ride in a modern-classic vehicle according to members achieve financial
The Chief executive Officer
the Sacco Chairman John Muigai. freedom through diverse credit
reports that already the Sacco
and banking products. We are
has trained one member of staff
also business enablers. With
to be able to communicate with
access to our diverse loan
deaf people and members.
products, our members can
setup or boost their businesses.”
“We are also asking them
(people living with disabilities)
He says, “Our products include
to come up with groups and
fixed deposit account where any
we will assist them in getting
amount of money can be fixed
loans,”Chairman adds his voice.
for between three, six, nine and
twelve months. The benefits are,
Tapping opportunities Trophies Standard gauge railway (SGR) fixed cash deposited that grow
The Sacco Chairman is looking awarded to has reached as was indicated in this account members can
at the possible opportunities the winning by the the CEC for trade and secure an advance of equivalent
that are likely to come with Saccos cooperatives in Nakuru County amount while interest rate
the Dry port and metre gauge during 2019 Raymond Komen, they want earned is based on the market
railway (MGR) in Maimahiu. Ushirika day to make sure the Sacco is not rate and additional 1% is added
He says with the dry port in Nakuru left behind so that those with above this rate.”
and the MGR continuing County. money can bank with them.
from Maimahiu where the The Sacco has M-banking
Services offered to enables
customers to access their FOSA
accounts using mobile phones
to bank or withdraw funds while
at home, ATM services with an
ATM card (Sacco Link) and visa
card issued to a customer at
a small fee. This card enables
a customer to withdraw from
any ATM nationally and
internationally.
Safe Custody of documents

FOSA offers safe custody
of documents facility at a
small fee annually. Some of
the documents brought by
customers for safe custody are
title deeds, school certificates,
shares certificates, and many
other important documents.
Cosmoploitan Sacco top brass led by the Chairman John Muigai digests the Sacco
success at the end of the 97th Ushirika day celebrations in Nakuru.

UPDATE
Kirinyaga County Joins The Rest Of The World

In Marking World’s Day Of Cooperatives
By Malachi Motano cooperatives in Kirinyaga County. of decent jobs, in social and
economic empowerment of the
S
avings And Credit Coopera- He indicated that in Kirinyaga county. Human development and
tive Societies (Saccos) in Kir- County, the Sector has created social justice remain priorities
inyaga County gathered at direct employment to 1,261 even as we think of creating
Kutus Primary school to join other people where over 350 people more jobs for our young people.
counties and the rest of the world are members of different Saccos, Cooperatives have enabled the
in marking the 97th International adding that his department is community to put people, their
Day of Cooperatives dubbed Ush- advocating for staff terms and needs and aspirations first,” noted
irika day. conditions of employment for all the Director.
employees who should even be
This year’s theme was ‘Cooperative registered with the Commissioner He said the county department
for decent work’ with wishes to of cooperatives. of Cooperatives will ensure that
support sustainable development societies are building Saccos
goal 8 (inclusive development “The Sacco should comply with based on cooperative principles
and decent work), which attracted the labour laws and ensure and values to create decent work.
different Saccos, participants and that workers are working in a
the general stakeholders across conducive environment,” said the According to the Chief guest
the county and the rest of Kenya Director Simon Mburia, who is the deputy
ranging from banks, services commissioner of cooperatives,
providers to County and National He reminded cooperators of the Kirinyaga is one of the strongest
government officials. 2nd principle which talks about county and innovator in the
‘democratic member control’ cooperative movement.
“As cooperatives, we are which enables the communities
responsible for providing jobs to own and govern cooperatives He urged the movement to work
opportunities to 10 per cent of jointly bringing about inclusive together with County government
the world employed population. and sustainable growth hence leadership to develop a strong
Different surveys indicate that leaving no one behind. bond and partnerships that will
there are more jobs in the sector secure a place for cooperatives in
compared to other industries,” “Cooperatives have important the development of the county.
said the Director of trade and role to play in the creation
“There are 22,344 registered Saccos
with an estimated membership of
about 14 million people. These
figures show the potential of the
movement as an aggregator of
human, material and financial
resources.
However, cooperative movement

has not realised its full potential
due to ignorance on the coopera-
tive philosophy which is guided by
the seven principles and coopera-
tive values,” said Mburia.
He added that the Sector is also

challenged by low professionalism,
poor perception and publicity,
poor documentation, less data on
the Saccos, leadership wrangles,
low value audition and low
adoption of technology especially
Chief guest Simon Mburia visits different exhibtions at the 97th Ushirika day in marketing cooperatives.
celebrations in Kirinyaga County.

EXCELLENCE
Newfortis Sacco remains at the top

giving highest interest rate on deposits
By Sacco Times Reporter one and urban Sacco in credit on Sh 516 million as dividend and
deposits in the country. interest compared to Sh 445
N
ewfortis retained first million in 2017 which translated
position in Saccos that “It was second highest on to 12.8 interest and 13 per cent
gave the highest interest dividends paid by urban Sacco’s dividend respectively.
rate on deposits in 2018 at 12.8 in the country and third best large Newfortis
per cent in the Urban Saccos category Sacco’s countrywide,” Sacco top It also recorded growth in
category. said chairman John Githinji brass led membership from 12,832 in 2017
during the Sacco’s 43rd AGM on by the to 14,082 in 2018, unwithrawable
This was during this year’s 97th February 2019. Chairman deposits grew from Sh3.4
International Co-operative Day John Githinji billion to Sh 3.9 billion, loans
(Ushirika Day) held at Dedan “Newfortis Sacco was first (second outstanding from 4.6 billion to
Kimathi grounds in Nyeri town. position for the category of best right) 5.1 billion while share capital
capitalized in large category receive an rose from Sh92.5 million 99.6
It beat Mukurwe-ini Staff Sacco Sacco’s and highest interest paid award and million.
and Moukenbott Sacco which on unwithdrawable deposits in certificate
came second and third with 11.5 the country,” he added. during The Sacco also helped its
and 10.69 per cent respectively. the 97th members acquire plots at
At the county level, the Sacco was Ushirika day Mweiga. During the financial
In 2017, Newfortis emerged the awarded first position on interest celebration year, the board also introduced
best both in credit management on unwithdrawable deposits. In in Nyeri a 66 months product known as
employer based Sacco in tier 2018, the Sacco paid a total of Jiinue loan.
County

EXCELLENCE
when they were caring and
On ICT, the institution has had sharing adding that today they BOSA PRODUCTS
a competitive edge providing have become very competitive
members with online solutions and focusing on profit making. 1. Risk Management Programme
which enable the members to 2. Retirement Package
transact their accounts from an This, he said, is diverting the true 3. Emergency Loan
online portal. course of cooperatives. 4. School Fees Loan
5. Pride Loan
This has deepened financial “Provisioning of affordable 6. Preferential Loan
inclusion and continues to housing and decent homes is 7. Development Loan
deliver innovations and business a priority for government in
solutions to all members and achieving the Big Four Agenda FOSA
improve their experience. and considering that more
than 14 million Kenyans are 1. Jiinue loan.
Both the e-loan and dividend cooperators,” he noted. 2. School Fees Cheques
advance have attracted 3. Alternative channels (SMS Banking /
commendable patronage. The He said cooperatives play a very Fortis Cash)
chairman attributed the growth crucial role in the provision of 4. Safe Custody of Documents
to prudent leadership of the affordable shelter by bridging in 5. Christmas Savings Account
Sacco and members support and the gap in housing and market in 6. Premier Loan
resilience. Kenya. 7. Fanikisha Loan
8. Mwalimu Special Package
During Ushika day, Mr. Githinji He highlighted most of the 9. Special Advance
who spoke on behalf of Urban challenges Saccos are facing 10. Salary Processing
Saccos underscored the currently as mainly the issues 11. Salary Advance
importance of cooperatives in that go with the regulations 12. Fixed Deposit Account
the country’s economy. especially from the regulators 13. Savings Account
and issues of compliance.
He said the cooperative Alternative Channels (SMS Banking / Fortis
movement in Kenya has Githinji said they have to comply Cash)
continued to grow as many to get into the new dispensation
Kenyans prefer to use the model where the Saccos are now being Fortis Cash:
to do business. termed as deposit taking Saccos. Going into a branch is now the exception. The
rule is to transact and interact with us anytime
This, he said, can be confirmed “Sometimes those who are on via your mobile phone!
by the fact that large of the check off have the challenge
population of Kenyans are of getting remittance from the Now your financial management and growth
cooperators. employers. We have had a very can be at your convenience instead of being
high adverse and very negative
based around branch opening times.
“Currently we are going to 15 publicity of Saccos which is not
million cooperators in Kenya out the case,” he said.
• Withdraw money from your Fosa account
of the 45 million citizens in the
using your mobile phone.
country,” he said. He said most of the time Saccos
• Deposit money direct to your accounts
are are portrayed negatively
from M-pesa via phone
He said the national though there is much better job
• Purchase Airtimes and Stima Tokens from
government’s Big Four Agenda done by the institutions.
makes several mentions to the your account
cooperatives as private sector However, he said there could • Get accounts and Loan balances.
actors to lead in the achievement be one or two Saccos that never • Money, anytime, anywhere.
of the agenda. towed the line and ended up
collapsing. What do I require to register as a user?
This, he said, is a great opportunity • A FOSA Account
to cooperatives to demonstrate it He said many cooperatives • Your Original ID/Passport
contributions and commitment are doing very well to • Fill in the registration form for free
to this responsibility. empower Kenyans, provide • Be a registered M-Pesa user
job opportunities, and creating • You will then receive a secret one time
However, he added, cooperatives many other avenues to ensure PIN(OTP)
have changed unlike before they empower their members. • Change the PIN to your preferred one and
there you GO.

AGRICULTURE
GDC Sacco Again Scooped Trophies For

Best Positions During 2019 Ushirika Day
continued to grow from Kshs.992,
046.00 as at 31st December 2003
to Kshs.155.8 M as at 30th June,
2019 with the members Deposit
as at 30th June, 2019 hitting Kshs.
1.1Billion as at 31st December,
2018 Sacco had 22,432 active
membership.
The statistics further indicate that

the Sacco Loan book reads Kshs.
1.65 B.
The Sacco which draws its

membership from Members of
the parent society Githunguri
Dairy Farmers co-operative
Society Limited and its employees,
Tea and Coffee farmers,
Institutions, Schools, Churches,
Chama -groups and the Business
By Apudo Were recorded by different financial GDC Community.
institutions with the most recent Marketing
M
embers now don’t being the prolonged presidential Manager The Sacco has both Back office
have to look any election in 2017-18. Ms Irene saving activities (Bosa) and front
further in search for Kamondo, office activities (Fosa). “For Bosa,
banking solutions or financial According to the Sacco Chairman Finance the loan term ranges from one to
services provider in their quest Peter Mbugua, the growth came in Manager Mr. five years. The Securities for the
to do or improve their business due to technology based products Chris Kinyua Loans include Guarantors, Title
as GDC Sacco proves to be such as PAYBILL, Mobile banking, and a Board deeds, Log Book, Unwithdrawable
the force to recon with when ATM Services, Diaspora Banking member Mr. Deposits and Salary, She
it comes to financial solution that led many Kenyans in diaspora Peter Nganju elaborates.
as it demonstrated at the 97th banking with GDC Sacco, receiving one
international day of cooperatives. MPESA services, Partnerships of the trophies GDC Sacco started its Front
with Governmental and non- GDC Sacco Office Services Activity (Fosa) in
The celebrations which was governmental organizations that scooped April 2006. As at 31st December,
presided over by the head of have brought in many members to at the gala 2018, the FOSA accounts stood at
state His Excellency President the Sacco. dinner held at 34,708.
Uhuru Kenyatta at the Kenya Nairobi Safari
international convention Centre The Sacco’s share capital has Park.
(KICC), culminating into a gala Rebranding
night at Nairobi Safaripark Hotel, Charles Kioko, the Chief
saw GDC Sacco emerge position Executive Officer (CEO) GDC
one (1) as the best in Credit Sacco, informed us that the
Management, position two (2) Sacco rebranded last year from
Best in Savings Management Githunguri Dairy and Community
and position three(3) among the Sacco to GDC Sacco Society
Best Improved Sacco in that are Limited to allow the Sacco do
agricultural based Category. business beyond Kiambu County,
this led enabled the Sacco to open
Growth GDC SACCO -MAAI MAHIU
Statistics available at the Sacco Branch-Nakuru County, targeting
indicate high growth prospects the micro and small traders,
despite the past Challenges products offering and expansion,
leveraging on technology and

AGRICULTURE
using Agency Banking which incase of the death of the animal
has increased to 15 Agencies the member is compensated to
distributed in various towns. continue with his Agri business.
For Assets and Business loan
Gdc Sacco Subsidiaries: comprehensive and Business
insurance is incorporated thus
The Sacco has other Subsidiaries
when incidences’ happen the
which include Pambazuka
member is secure and have peace
Housing Cooperative and GDC
of mind
insurance agency
Susan Kungu of Pambazuka ICT

Housing Co-operative Society The Sacco continues to adjusts
Ltd shares that housing to the modern approaches
cooperative was established in to business which requires
August 2012 as a subsidiary of Saccos to introduce information
GDC Sacco to exclusively deal technology in their setup now
with housing and real estate, that doing banking-like activities
drawing its membership from requires efficient and accurate
the dairy sector duly registered Management information system
Pambazuka will continually Pambazuka
groups, institutions, the business that provides real time services to
provide affordable and quality Housing
community and any other customers.
properties in line with our vision, cooperative
approved institutions and as of
mission and strategic plan,” Susan. Chairman
June 30th 2019 the membership ICT Manager, Madam Judy Muhia
stood at 1658 member. Mr. Peter retaliated that computerization
The GDC Insurance Agency was
established in 2016 covering Nganju and started in November 2005, which
She says since inception marketing has so far been doing reasonably
general and life products and has
Pambazuka has undertaken 11 officer Mr. well. The Sacco software is
adopted a participatory policy
projects, 8 of which have been Wilson integrated and interlinked to all the
where every loanee meets the
successfully completed and Six (6) Branches, and 15 Agency
insurance cost of his or her loan. Wamuritu
members issued with title deeds. Banking Points. In addition GDC
According to the management, pose for a Sacco also conveniently avails
the move was taken to spread photo with
“We have 3 ongoing projects, services to its members through
the cost of insurance fairly to all the trophies
Olkalou at the foothills of Abadare ATM Services, Mobile Banking,
customers.
forest along Olkalou Njambini won. Paybill services, Mpesa Services,
road going for Kshs.250,000, Diaspora Banking, KPLC bills
Various policies are administered
Naivasha along Longont- payment and NHIF Agency
to secure institution assets. The
Naivasha Highway 400M off which have all been facilitated by
Dairy members enjoy Livestock
tarmac with a view of L. Naivasha modern Core Banking System
Insurance that ensures every
next to Longonot Gate going for
loan payable by the dairy farmer,
Kshs. 500,000 and in Kisaju, along
Pipeline road touching tamarc
livestock cover is a must, then Moving forward
The Sacco Marketing Manager
going for Kshs. 700,000.”
Madam Irene Kamondo says the
Despite challenges that have faced
the real estate sector in Kenya,
The huge investment Sacco will continue developing
products that meet the ever-
changing customers’ needs
Pambazuka Housing has manged
to overcome and during this associated with in order to attract and retain
customers, continued aggressive
year’s Ushirika day celebrations
the Sacco managed to scoop 3
trophies thus for position one (1)
the powder plant marketing to recruit more
Members, Participate in Women,
and Youth Fund on- lending,
Best in investment, position (2)
best improved, position (2) best has forced the milk Mortgage Product. Develop a long
time loan product to ensure that
managed and position (3) best
Capitalization in investment and
housing co-operatives category.
processor to think we reach the high end Market,
with long loan repayment of
between 10 Years to 15 years.
“This colourful performance
is also as a result of dedicated
of outsourcing its The Sacco is also considering the
opening of more branches in the
country.”
board of directors, qualified staff
supportive membership and fast production.
processing of member title deeds.

HEAD OFFICE - GITHUNGURI TOWN TEL: 0202015366
P.O BOX 896 – 00216 Mobile no: 072400611 / 0701525837
GITHUNGURI info@gdcsacco.co.ke | www.gdcsacco.co.ke
PAMOJA TWAWEZA
Mission statement: members who wants to save for holiday, loans.

To provide accessible and diversified services Christmas e.t.c • Salary Loan: This product is given to employees
through mobilization of funds and application 8. Preferential Account: Ideal for who channel their salary through the sacco.
of prudent management system for improved long term savings with attractive interests
economic well-being of members and rate.
stakeholders. BOSA SERVICES
• The back office mainly deals with extending credit
CREDIT FACILITIES facilities to members of the sacco which includes:
Vision: • Salary Advance: Available to • Development loan: intended to finance income
To be the leading sacco in Kenya providing employees who channels salaries through generating activities and investments including
competitive financial services to our members us. but not limited to:
and stakeholders. • Milk Advance: Available for dairy • Working capital
farmers who channel milk through us.
• Purchas of loan term assets.
Core values: • Jiunge Advance: Available for
farmers who want to join the society but • Purchase of building and land maximum
Team work: Professionalism, Equity, Courtesy, repayment period is 36 months.
Dedication, Integrity. do not have registration fee.
• Chai Advance: Available for farmers • School fees Loan: Offered to help our members to
who channel tea through us pay school fees at a competitive interest rate.
Motto: Maximum: repayment period is 36 months.
• Kwamua Advances:
PAMOJA TWAWEZA.  Emergency Loan: Available in case of an
• Kwamua – Given to members who channel
their produce through us. emergency i. unexpected occurrences e.g Hospital /
Fosa Products Medical bills, court etc.
• Kwamua Housing – Give to the members
1. Savings Account: Ideal for salary who want to join PAMBAZUKA HOUSING They are given on daily basis and their maximum period
processing, crop payments, pensions and CO – OPERATIVE and do not have the is 12 months.
personal savings. required registration fees.
2. Business Account: Offers an avenue • Kwamua staff – Given to employees who All loan are offered at very reasonable interest rates
for convenient business transactions for channel salaries through us.
business people. You can withdraw any
amounts as frequently as possible. BUYING SHARES IS OPEN TO ALL
• Business Overdraft: Given to Other benefits;
3. Group/Micro credit account: business people to cater for urgent
Suitable for welfare groups, corporate. • Bima ya jamii
business supplies and LPO’s.
Schools, Hospitals, Church’s and other • M- pesa
Institution. • Mazao Loans: Available to sacco
members who channels their produce • Money gram
4. Minor Account: Provides a convenient through us • Sacco link (ATM)
and reasonable way for parents to plan for
their children’s future as well as show them • Ng’ombe Loan: Aimed at assisting • P.O.S ( point of Sales Services)
the importance of saving. dairy farmers who do not have quality • Funeral rider
cows and are willing to invest in modern
5. Fixed Deposits: Ultimate for customers dairy farming but lack financial boost of • We clear and encash cheques on behalf of our
who require attractive returns on their the same. customers
investments. • We offer normal withdrawal and deposit services
• Biashara Loan: This product is aimed
6. Vijane Tumeamua Account: For at empowering business entrepreneurs • We sell school fs/ bankers cheques
account holders of age between 18 – 25 who want to expand their businesses.
years. • We remit standing orders on behalf of our
• Jiunge na Mapato: This product customers e.g NSSF contribution, AFC contributions
7. Holiday Account: This ideal for is for new customers who need instant etc
OUR BRANCH NETWORK

Kigumo Branch Tel: 020 -2416775 , Mobile: 707383203 | Ikinu Branch tel : 020 8098098, Mobile: 0701525837 |
Githiga Branch Tel: 020 260869, Mobile: 0714517113 | Kwamaiko Branch Tel: 020 – 232298, Mobile: 07044018
LOANS
appealing to Busia Governor
Sospeter Ojamong and
Budalangi MP to support them
through the county’s cooperative
department to access loans from
banks in Busia County which has
been an uphill task.,
In his speech, Kamotho

Waiganjo who is an Advocate of
the High Court of Kenya focused
majorly on women.
“We must invest in programmes

that uplift the rank and file of
women economically. Most
micro fish traders are women.
If county governments invested
more resources in micro-fish
storage facilities and better fish
market access, and then ensure
MP encourages fish traders to that women Saccos and chamas

in this sector are facilitated
form Saccos for quick success

through diverse interventions,
this would revolutionalise the
economic power of women
By Malachi Motano SELF According to the Member of in the fishing regions,” said
RELIANCE: Parliament, Saccos are the Waiganjo
F
ish traders at Port Victoria Budalangi bridges to quick wealth.
are being asked to MP Raphael “Therefore, while we have
form savings and credit Wanjala is He was speaking when he made important strides, the
cooperative societies (Saccos) welcomed to launching a 14-seater van bought long distance ahead demands
which are today considered as the Maningo by Maningo Sacco members innovative ways of pushing the
the bridge to quick success. Sacco recently. interests of women. By now we
meeting. must know that when women
Speaking at a a meeting organised The MP commended the Sacco succeed, families succeed. And
by Maningo Sacco to empower for positively changing members’ the nation goes much further,”
colleagues (fish traders at the lives since its inception two years he added
Port), Budalangi Member of ago.
Parliament (MP) Rafael Wanjala
told the fish traders that it is only On his part, the chairman of
through Saccos that they can
access loans for development.
the sacco, Samson Nyadimo,
said the organisation provides
...plans are
“I want call upon other traders
loans to members, most of
whom fishermen, who have
underway
doing fish business along the
shores of Lake Victoria to form
bought motorboat and outboard
engines.
for the Sacco
one Sacco to be able to save and
borrow cash to invest in other The Chairman said already plans
with 68
income generating activities,”
Wanjala said.
are underway for the Sacco with
68 members to build a multi-
members to
He asked them to emulate
purpose social hall, equipped
with chairs and tents for hire
build a multi-
Maningo Sacco which has
enabled the members to get
which will generate extra cash
for the Sacco.
purpose
loans to buy motorboat engine.
In the meantime, the Sacco is
social hall.
APPLAUD
KNUT Commends Boresha Sacco for

Steady Growth and Empowerment
By Enock Kipturgut employer (Teachers’ Service
Commis¬sion (TSC).
K
enya National Union
of Teachers calls Baringo Branch KNUT
upon teachers in Executive Secretary Dr. Rev.
Baringo,Nandi, Elgeyo Joshua Cheptarus noted that
Marakwet,Nakuru, Uasin Gishu Boresha Sacco is a Sacco with
and Laikipia Counties to join difference.
Boresha Savings and Credit
Cooperative Society (Sacco) Dr. Cheptarus congratulate the
Limited for their economic management and the Board
growth and empowerment. of Directors for keeping the
society’s flag flying higher and
Speaking to teachers during Boresha Sacco Kabarnet branch Manager Mr higher since its inception in
Baringo Branch 36th Annual Gabriel Cherop addressing the AGM. 1976 that has grown into a giant
general meeting held at Cooperative in its operations
Kabarnet town, Vice National and membership which now
Chairman Mr Collins Oyuu
said that Boresha Sacco has
The executive secretary stands at over ninety five
thousand and share capital
been recording steady growth,
empowering its members called the management deposits of Kshs.373.4 million.
economically. “As the branch executive
“I have have keenly listened to

to continually council take this opportunity
to thank the Chief Executive
the speech as presented by the
Branch Executive Committee
introduce more Officer Mr Moses Chebor,
Managers, Employees and the
(BEC) and it’s very clear that
there is a passive Sacco that has financial products and entire board of directors for the
steady growth of the society.
been felt by the members and It’s our desire that the society
that is non-other than Boresha
Sacco,” he said Mr Oyuu.
services to benefit the remain competitive in order to
retain the increasing number
He said that the branch BEC

members. and its marketability in the
region,” He observed.
is in the front line urging
teachers who have joined the
teaching profession to join
Boresha Sacco as members
so as to benefit from array of
financial services offered at the
Sacco noting that its financial
provider of choice.
The Vice Chairman

acknowl¬edged Boresha
Sacco for as¬sisting teachers
during teach¬ers’ strikes where
teachers stay without salaries
until the disputes are resolved
between the Knut and the
KNUT Officials give the national Office an applause for representing teachers well.

APPLAUD
He said Boresha Sacco core

business is to empower
members with quality financial
services.
“Boresha Sacco is there to offer

its members best and quality
financial services. We urge our
members to make investment
for themselves and the future
generation,” said the CEO.
Baringo County Governor

Mr. Stanley Kiptis said that he
is a life member of Boresha
Sacco and his Government
Teachers give a resolution during the AGM. will continues to work closely
with Boresha Sacco through
disbursement of employees
The Executive Secretary called Salary through the Sacco.
the Management to continually
introduce more financial “Baringo County government
products and services to benefit is in partnership with Boresha
the members. Sacco that is why Boresha
Sacco is the pay point for
“I challenge the Board of my employees’ salaries,” he
Directors not to change disclosed.
the Society’s by laws or
the constitution without Branch Chairman Mr. Silas
the involvement of all the Rutto thanked members for
stakeholders. turning up for the Annual
National vice Chairman Mr Collins Oyuu (Left) general meeting in large
The BEC is not in support of the chat with Baringo Branch Executive Secretary numbers. He introduced the
board of directors’ decision to DR Joshua Cheptarus during the AGM. branch secretariat and the
remain in office as long as they branch executive Committee
live. “Let them respect their members to the AGM.
age and retire honourably as
they embrace the role played Mr. Rutto said that KNUT
by the upcoming young well Baringo branch has 3,290
mentored team,” explained Dr members noting that the Union
Cheptarus. is in the process of registering
new teachers in schools.
Kabarnet Branch Sacco
Manager Mr Gabriel Cherop “I’m happy to report that our
who represented the Chief recent visit to schools translated
Executive Officer Mr Moses to 287 blue forms being filled
Chebor said that Boresha Sacco Vice National Chairman Mr Collins Oyuu with by non-members and we hope
works hand in hand with Kenya County Governor Mr Stanley Kiptis during the soon our membership will go
national union of teachers to AGM. up. Moreover we registered over
satisfy members their financial four hundred early childhood
needs. that has stood the taste of development teachers in the
time to offer its members year under review,” disclosed
Mr Chebor said that Boresha quality financial services that the chairman.
Sacco is among the great has greatly improved their
Sacco’s across the country livelihoods.

COUNTY
Saccos benefit from the

co-operative enterprise fund
By Mildred Washindu The best youth Sacco award went
to Teso North Youth; Safari Care
2
8 Savings and Credit Co- took the best transport award
operative (SACCO) societies while Nambale ACK Women took
in Busia County have the best women Sacco award.
benefited from the Co-operative
Enterprise Development Fund Addressing the co-operators,
(CEDF) worth Sh18million. the Governor said over Sh80m
has been distributed to various
The Cheques were issued to co-operative societies across the
the beneficiaries by Governor county, adding that Sh7m is due
Sospeter Ojaamong during the for disbursement in August.
97th Ushirika Day Celebrations at
Busia Vocational Training Centre H.E Ojaamong urged Saccos
in a function which was also Busia Credit Society and Bunotsa Sacco which have benefited from the
attended by Deputy Governor Governor received Sh1m each. The least revolving fund to ensure that they
Sospeter were Bunyala Women Sacco and
Moses Mulomi. repay their loans to enable more
Ojaamong Bunyala Handcraft and Produce
and Deputy
Saccos benefit from the fund.
Busia Teachers Education CS which received Sh200, 000
Governor
Investment Credit Society (CS) each. “As a member of Bunge Sacco for
Moses
received the lion’s share of Mulomi toors the last 17 years, I can attest the
Sh2m. Bunyala South Jua Kali an exhibition The Governor also awarded importance of being a member;
was second with a disbursement during trophies to the best Saccos. Faridi this calls for such members to
of Sh1.8m while Busia Spartan the 2019 emerged the best managed Sacco have the spirit of saving and to
and Ken Trust Education Saccos Ushirika Day with Magombe taking the best make regular repayments,” he
received Sh1.5m each. celebrations. contributor to Agenda Four on said.
food security trophy.
Magombe Multipurpose Farmers Deputy Governor Moses Mulomi
said forming co-operative
societies is the best to empower
members economically; he urged
Members of the County Assembly
to help increase allocation to
CEDF.
County Executive Committee

Member for Trade and Co-
operatives Judith Maketeso said
there are more than 160 registered
Saccos in the county, noting that
their most undoing was lack of
capacity.
Ushirika Committee chairman

Wycliffe Oprong said non
-compliance in terms of failing
to hold Annual General meetings
and audit their books were major
challenges facing Saccos in the
Busia Governor Sospeter Ojaamong and Deputy Governor Moses Mulomi at an exhibition county.
during the Ushirika Day celebrations at Busia Vocational Training Centre on Saturday.

THEME
in other sectors, cooperative
jobs, Saccos tend to be more
sustainable over time, show a
smaller gap in earnings between
higher and lower-paid positions,
and are more evenly distributed
between rural and urban areas.
During the celebrations in

2019, ICA also launched a 2019
Coopsday interactive map and
the Cooperators’ guide to the
day itself soon. This follows
the success of these initiatives
for the 2018 CoopsDay. Visit:
www.coopsday.coop for more
information on the day and its
theme.
The 2019 International Day of Cooperatives was celebrated at the United Nations on
Monday 8th July 2019 (the actual day falls on the first Saturday of July, and this year it
was on 6 July) Why this theme?
Coops4decentwork: International According to the

today’s widening inequality,
ICA,
Day of Cooperatives 2019 theme

increased job insecurity
and high unemployment
levels, particularly among
By Apudo Were world.” youth, led the organisation to
T
he 2019 theme of the choose the 2019 #Coopsday
International Day of On 6 July 2019, cooperatives theme to support Sustainable
Cooperatives 2019 around the world were invited Development Goal (SDG) 8
(CoopsDay or Ushirika day in to celebrate a future in which “Inclusive development and
Kenya) read COOPS 4 DECENT human development and social decent work.”
WORK. Our writer attempted to justice are priorities.
understand what informed the As people-centred enterprises
choice of the theme. According to ICA, through and key development actors
#CoopsDay, local, national (European Consensus on
According to International and global policymakers, civil- Development, 2017), the
Cooperative Alliance and this society organisations and the ICA says, cooperatives have
year’s theme (ICA), The theme public in general can learn how an important role to play in
focused on the message that cooperatives contribute to a the creation of decent jobs
cooperatives are people-centred decent working environment. and the social and economic
enterprises characterized by empowerment of local
democratic control and which Cooperative employment is far communities.
priorities human development from a marginal phenomenon.
and social justice within the According to a recent estimate The second International
workplace. quoted by the ICA, cooperatives Cooperative Principle,
around the world employ or are “Democratic member control,”
Ariel Guarco, is the ICA the main source of income for enables communities to own
President, “Cooperatives help more than 279 million people— and govern cooperatives jointly
to preserve employment and almost 10% of the world’s total through democratic control
promote decent work in all working population. that brings about inclusive and
sectors of the economy. Through sustainable growth, leaving no
participation, members have Beyond these numbers, different one behind.
a motivation to change their studies have confirmed that, by
lives, their communities and the comparison with employment Because cooperatives are values-

THEME
The 2019
International
Day of
Cooperatives
was
celebrated
at the United
Nations on
Monday 8th
July 2019 (the
actual day
falls on the
first Saturday
of July, and
this year was
on 6th July)
driven enterprises owned, celebrated annually on the first On 16 December 1992, the
controlled and run by and for Saturday of July. United Nations General
their members, cooperative Assembly passed resolution,
workers experience “a quest for The aim of this celebration which proclaimed the first
efficiency, shared flexibility, a is to increase awareness Saturday of July 1995 as
sense of participation, a family- of cooperatives. The event the International Day of
type environment and a strong underscores the contributions Cooperatives, marking the
sense of identity,” as revealed of the cooperative movement centenary of the establishment
in the series of interviews to resolving the major problems of the International Co-
conducted in ten different addressed by the United operative Alliance.
countries around the world in Nations and to strengthening
connection with the publication and extending the partnerships This year’s celebration will
Cooperatives and Employment: between the international be both the 25th United
a Global Report. cooperative movement and Nations International Day of
other actors. Cooperatives and the 96th
The International Labour International Cooperative Day.
Organisation (ILO) is celebrating
its centenary this year with a ...According to a recent Since 1995, the ICA and the
United Nations have been setting
special focus on the future of
work. estimate quoted by the theme for the celebration
of the International Day
In this context, the ILO and ICA the ICA, cooperatives through the Committee for the
Promotion and Advancement of
will co-organise a conference,
Cooperatives and the Future around the world Cooperatives (COPAC).
of Work, on Monday 24 June
2019, just after the 108th Session employ or are the main It groups the ICA, the United
Nations Department of
of the International Labour
Conference. source of income for Economic and Social Affairs
(UNDESA), the ILO, the Food
About the International Day of more than 279 million and Agriculture Organization
(FAO), and the World Farmers’
Cooperatives
The United Nations International people. Organization (WFO).
Day of Cooperatives is

 Graduation table will be followed while giving THE CHIEF EXECUTIVE OFFICER ( FORMERLY NAKURU TEACHERS )
out loans COSMOPOLITAN SACCO
 guarantors are needed for security
P.O BOX 1931, NAKURU
 Collaterals can be used.
 Sinking fund Kshs.200 per month TELEPHONE 051/2212415/6
 Direct deposit of kshs. 100,000be considered Mobile: 0722-388616 FAX: 051/2215189
COSMOPOLITAN SACCO
for loan but in excess to stay for three months.
EMAIL: info@cosmopolitansacco.co.ke
CLASS C MEMBERSHIP
WEBSITE: www.cosmopolitansacco.com
 Have 50 shares worth Kshs. 20 each. Build
them in multiple of 10 shares per month (Kshs
200 monthly).
THE BRANCH MANAGER
 Have a withdrawable deposit account
MOTTO: Uniteddrawn
 Membership we stand
from individuals to groups NAIVASHA BRANCH
 Access to safe custody and fixed deposit Mobile 0700-470339
account facilities Biashara Street near NAIVAS kubwa super-
VISION: To be a model Sacco society offering high qulity financial services to the members.
 Can negotiate an advance against amount in market
fixed account
 Can change status to class B
RETIREMENT PACKAGE
MPESA PAYBILL NO.MANAGER
THE BRANCH 883050
BOSA PRODUCTS Minimum Kshs. 300/= p.m
BAHATI BRANCH
5 times your new deposit M O TT O
BIASHARA LOAN
within0700-470342
Mobile: • Eligible for a loan after 3 months of savings
 Earn an interest. • Repayment period
• Interest rate of 1% on
Next
48 months
reducing
to balance
District Headquarters
U N I T E D W E S TA N D
• Loan be multiplied 3 times a members
DEVELOPMENT LOAN
 Can deposit bulk cash.
savings
• Maximum deposit holding
Payable after retirementtimes five • Repayment for 1st loan 12 months and
Subject to 2/3 rule JIJENGE LOAN
FOSA ACTIVITIES THE BRANCH MANAGER interest rate 1% p.m on reducing.
• Repayment period within 48 months • Maximum deposit holding times 5 VISION:
 Fosa savings Accounts • Other sources of MOLO
income BRANCH
considered in appraisal • Graduation table will be followed while
• Interest rate of 1% on reducing balance giving out loans
Salary processing
• Repayment period within0716-861224
Mobile: 48 months To be a model Sacco society offering
Children A/cs • Interest rate of 1% on reducing balance • guarantors are needed for security
EMERGENCY LOAN
Bankers Cheques high quality
• Collaterals financial services to the
can be used.
• Maximum deposit holding times Holiday
five A/cs THE BRANCH MANAGER
Clearing Cheques CHAMA LOAN • Sinking fund Kshs.200 per month
subject to 2/3 rule SMS banking members
Mpesa within 12 months • Deposit multipliedNAROK BRANCH 36 months. Interest
by 4 repayment • Direct deposit of kshs. 100,000be
• Repayment period considered for loanPAYBILL
but in excess to stay for
Standing order Services
rate 1% p.m on reducing. Collaterals can be used. MPESA NO. 883050
• Interest rate of 1% on reducing balance three months.
• No supporting documents
• Instant on application FOSA PRODUCTS CLASS C MEMBERSHIP
• Have 50 shares worth Kshs. 20 each. Build
EDUCATION LOAN SALARY ADVANCE them in multiple of 10 shares per month
• Maximum deposit holding times 5 subject • Salary pass through our FOSA (Kshs 200 monthly).
to 2/3 rule • Repayment period within 12 months • Have a withdrawable deposit account
• Repayment period within 18 months • Interest rate of 1.08% • Membership drawn from individuals to
• Interest rate of 1.08% on reducing balance • SALARY IN ADVANCE groups
• Salary pass through our FOSA • Access to safe custody and fixed deposit
SPECIAL LOAN • Repayment period within 1 month account facilities
• Maximum deposit holding times five • Interest rate of 5% once • Can negotiate an advance against amount
subject to 2/3 rule in fixed account
• Repayment period within 60 months FIXED DEPOSIT • Can change status to class B
• Interest rate of 1% on reducing balance • Interest rate of 8% p.a
• Minimum deposit is Kshs. 10,000 RETIREMENT PACKAGE
FANIKISHA LOAN ( TOP-UP) • Minimum period of 3 months to earn interest • Minimum Kshs. 300/= p.m
• Society pays your previous loan and offers • Interest rate negotiable above Kshs. 1 million • Earn an interest.
a new one. Repayment period within 48 • ATM services • Can deposit bulk cash.
months • Withdraw cash from any Visa branded ATM • Payable after retirement
• Interest rate of 1% on reducing balance • Pay for goods and services
FOSA ACTIVITIES
MAKARIBISHO LOAN SPOT CASH (M-BANKING)/M-COSMO • Fosa savings Accounts
• Eligible for newly employed teachers • Dial *645# or *882# • Salary processing
• Deposit top up maximum to Kshs. 100,000 • Withdraw cash from your account via M-PESA • Bankers Cheques
• Use new deposit balance to apply loan • Pay for Loans via M-PESA • Clearing Cheques
• Repayment period within 48 months • Deposit cash to your account • Mpesa
• Interest rate of 1% on reducing balance. • Make utility payments via M-PESA • Children A/cs
• Transfer cash to another account • Holiday A/cs
GRANT LOAN • Buy airtime from account free • SMS banking
• Maximum deposit holding times 5 • Standing order Services
• Repayment period within 48 months LIPA NA MPESA
• Interest rate of 1% on reducing balance • Pay Bill no. 883050
• Repayment through FOSA NEW PRODUCT
• Loans appraised based on payslip SAFE CUSTODY XMOBI PRUDUCT APP uses:
• Safe keeping of documents • Customer statement.?(customer can view
OKOA JAHAZI LOAN • Annual fee of Kshs. 300 their statement)
• Bailing members from other financial • Customer can request for salary advance
institutions OTHER INFORMATION • Customer can transfer money within the
• Repayment period within 48 months • A member can boost their deposits by cash to a sacco but different accounts
• Interest rate of 1% on reducing balance maximum of Kshs. 100,000 to qualify for any type of • Customers can view there divindend/
loan payslip, loans etc
BORESHA LOAN • All your loans and deposits are insured • Customer can view their gurantor both who
• Top up your deposits in cash to a they have guranteed or who has guranteed
maximum of Kshs. 100,000 and get a loan them.
For more information please contact us through the address given below:- • customer can their password..
THE CHIEF EXECUTIVE OFFICER THE BRANCH MANAGER THE BRANCH MANAGER THE BRANCH MANAGER
COSMOPOLITAN SACCO NAIVASHA BRANCH BAHATI BRANCH MOLO BRANCH
P.O BOX 1931, NAKURU Mobile 0700-470339 Mobile: 0700-470342 Mobile: 0716-861224
TELEPHONE 051/2212415/6 Biashara Street near Next to District Headquarters
Mobile: 0722-388616 FAX: 051/2215189 NAIVAS kubwa supermarket THE BRANCH MANAGER
EMAIL: info@cosmopolitansacco.co.ke JULY - AUGUST, NAROK
2017 | SACCO TIMES
BRANCHA 47
WEBSITE:www.cosmopolitansacco.com AUGUST - SEPTEMBER 2019 | SACCO TIMES 47
nsidered.
M- BANKING
months.
nth and capitalized. Withdraw money from your Fosa account using your mobile -
y -
es.
phone. Money anytime ,anywhere, via * 426#
antors . Because we are better t
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on the ability to pay.
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mSacco
^
Withdrawal Money Tel: ( 061)
onth
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Pay Utility bills
mobile: 0
Account Transfers Karatina B

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Because we are better together
^Balance Enquiry
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Mini statement othaya br
^SMS alerts
Pay Bill No.: 339450 Tel: ( 061)
Nairobi Branch
COMING SOON
Customer care:
t: 061 2030759
e: info@newfortissacco.com
Money anytime, anywhere via *460#


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S

P.O. Box 41364 - 00100, Nairobi

Mombasa Port Sacco Chairman

AUGUST - SEPTEMBER 2019 | SACCO TIMES 1

Repayment period is 6 months.

Where you Belong... Where you Belong...

Mombasa Port Joan Mutindi

Ushirika Day Email: info@saccotimes.com,

SACCO TIMES JOAN MUTINDI

Mombasa Port Sacco Chairman

CHIEF EXECUTIVE OFFICER

P.O. Box 41364 - 00100, Nairobi

TO OUR ESTEEMED CLIENTS

4 SACCO TIMES | AUGUST - SEPTEMBER 2019

This account enables members to

Mombasa Port Sacco Bagged Home Prestigious

Mr. Konde wishes to leave a legacy

According to the Sacco Chairman

6 SACCO TIMES | AUGUST - SEPTEMBER 2019

The adjudication committee

The regional categories awards

For the last five years Mombasa

The Chairperson had indicated

The Chairman revealed that the

AUGUST - SEPTEMBER 2019 | SACCO TIMES 7

Sacco pays Ksh.5m dividends to

The 2019-2020 strategic plan

“We must be ready to embrace

8 SACCO TIMES | AUGUST - SEPTEMBER 2019

“We have simplified loan “The year 2018 presented both

The housing wing (Urithi Housing

According Kevin Majau the

Majau was speaking during the

AUGUST - SEPTEMBER 2019 | SACCO TIMES 9

Capital Sacco Carries Top FOSA Award

Capital Sacco retained the win in

This win attracted the community

10 SACCO TIMES | AUGUST - SEPTEMBER 2019

OUR CORE VALUES

Ollin Sacco takes the lead with flying

During the celebrations that got

In an interview with the writer According to the Sacco Chief

12 SACCO TIMES | AUGUST - SEPTEMBER 2019

Call Deposit Account, Children’s

Ollin also has SPOT CASH a

The subscription procedure

Having been registered on 14th

With the head office located

AUGUST - SEPTEMBER 2019 | SACCO TIMES 13

STOP GAP ACCOUNT

Together We Prosper This is an account for savings meant for retirement

This is a short term loan open to all salaried members

Kenya marks 2019 Ushirika day

According to the Department of

The national celebrations kicked off

The President then proceeded to

He was accompanied by Trade and

The Head of state directed Trade

AUGUST - SEPTEMBER 2019 | SACCO TIMES 15

Mafanikio Vows To Maintain The Winning Trend

In the just concluded 2019

Mafanikio Sacco, which

16 SACCO TIMES | AUGUST - SEPTEMBER 2019

According to statistics best on