Imarisha Sacco has reported an asset-based value of Ksh16.1 billion as at August this year, a Ksh2 billion increase from last financial year 2019/20.
The Sacco Chairman, Mathew Rutoh said the Sacco has braved challenges arising from the COVID-19 pandemic to maintain its growth through increased membership.
“This great improvement is as a result of more members joining us, depositing their money and taking loans to invest in their various economic projects,” says the chairman during the opening of a new Sacco branch in Narok town over the weekend.
The Kericho-based Sacco that was initially dedicated to teachers has opened its doors to other employees and business men of all walks of life increasing its membership to over 100,000 up from 64,120 members in 2017.
The chairman disclosed that the Sacco has immediate plans to open branches in the counties of Nairobi, Nakuru, and Kisumu as it seeks to nationalize the Sacco.
The Sacco currently has opened its branches in seven counties.
Narok County Minister in charge of Trade, Ezekiel Rono who graced the launch applauded the Sacco initiative of expanding to their county, which he said had huge potential because of agricultural and tourism businesses. While urging the Narok residents and business community to join the Sacco, Rono pledged collaboration from the county government in enhancing Sacco membership through account opening by its employees.
“As Narok County Government, we are opening our doors to this Sacco to reach all our staff and business people so that they can get an opportunity of improving their livelihoods” he said.
During the event, the Sacco also unveiled new products; Karibu loan, Superior loan, Take-off loan and ideal loan that are tailored for, the employed, the business and the farming community.
“These are new Micro-credit products that target mama mboga, business people, corporate institutions, chamas, registered groups, bodaboda loans, farmers and asset financing,” Ruto emphasized.
The recently released SASRA report, ranked Imarisha Sacco as the eighth best performing Sacco countrywide, an achievement that the chairman pointed as an indicator of the Sacco’s excellent performance in its mandate of offering quality services to its customers.