- Ports Sacco opens Malaba branch to expand financial services and promote a savings culture in Busia County.
- Branch attracts 800 members shortly after launch, with leaders targeting 5,000 as cooperative savings gain traction.
- Sacco surpasses Ksh12bn in assets and offers loans, competitive dividends and insurance to support members’ financial growth
Teso North Member of Parliament (MP) Oku Kaunya has urged Busia County residents to embrace savings through cooperative societies to cut poverty. Kaunya was speaking during the official inauguration of the Malaba Branch of Ports Sacco and members’ training at KNUT Hall in Amagoro.
He said the new branch marked a major milestone in expanding access to affordable financial services in the border region.
The legislator revealed that his campaign to have Ports Sacco establish a presence in Malaba had already yielded impressive results, with the branch attracting about 800 members within a short period. He expressed confidence that membership would grow to 5,000 as more residents appreciate the benefits of cooperative savings.
Kaunya urged traders, teachers, farmers, civil servants and small-scale entrepreneurs to join the Sacco, noting that its affordable credit facilities would enable members to expand businesses, create employment opportunities and improve household incomes.
“It is worrying that Busia County has a poverty index of about 70 per cent, while Teso North stands at 64 per cent. The solution lies in encouraging our people to save, invest and build wealth through strong cooperative societies,” he said.
The MP disclosed that he had also mobilised fellow legislators, including Nambale MP Geoffrey Mulanya, Matayos MP Godfrey Odanga and Butula MP Joseph Oyula, to encourage residents in their constituencies to join Ports Sacco.
Kaunya further applauded the Sacco for its strong corporate social responsibility programme, particularly its sponsorship of 12 students through full scholarships, urging the institution to increase the number of beneficiaries in future.
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Ports Sacco Board Chairman Ben Juma attributed the successful establishment of the Malaba branch to Kaunya’s unwavering support, describing Malaba as a strategic investment destination due to its busy one-stop border post, inland dry port and the planned extension of the Standard Gauge Railway.
Juma said Ports Sacco, founded in 1966 and licensed as a Tier One deposit taking Sacco by the Sacco Societies Regulatory Authority (SASRA), remains committed to offering innovative financial solutions that empower members and promote financial inclusion.
He noted that the Sacco has grown into one of Kenya’s leading cooperative financial institutions with more than 20,000 members, an asset base of over Ksh 12 billion and a loan portfolio exceeding Ksh 8 billion.
Malaba Clearing and Forwarding Super Chairman Deogratius Otia welcomed the Sacco’s expansion into the border town, saying it would significantly benefit clearing and forwarding agents, transporters and cross-border traders operating in Malaba, Busia and Lwakhakha.
Otia urged the Sacco to allow teachers to serve as delegates without intimidation, saying inclusive leadership would strengthen the institution.
“Our target is to recruit at least 1,000 members and make the Malaba branch a model for the entire country because this is a strategic business town,” he said.
Busia County Kenya Union of Post Primary Education Teachers (KUPPET) Executive Secretary Charles Mukhwana commended Ports Sacco for consistently paying attractive dividends and supporting education through sponsorship of teachers’ recreational activities as well as primary and junior secondary school games.
The event also featured testimonies from members who credited the Sacco with transforming their financial lives.
GESAO Foundation founder George Samson Ogwe said the organisation had already enrolled 200 members into Ports Sacco and accumulated savings worth Ksh 501,000, with plans to acquire a lorry to support its events management business.
Lawyer Obella Opuru said he had secured a Ksh 500,000 loan after just over a year of membership, enabling him to commence development of his property near the Kenya Medical Training College (KMTC).
Bishop Joel Imaidoi, an accountant attached to the National Government Constituency Development Fund (NG-CDF) office, said joining the Sacco had strengthened his investment culture, while teacher Nancy Orodi and member Samuel Emojong praised the institution’s aggressive outreach campaigns for bringing financial services closer to the community.
Officials highlighted several member benefits, including instant loan processing, borrowing of up to five times one’s savings, and up to ten times for teachers, competitive dividends, annual interest of 12.5 per cent on deposits and comprehensive insurance cover that clears outstanding loans upon death or permanent disability while providing financial support to beneficiaries.
With the opening of its Malaba branch, Ports Sacco is expected to deepen financial inclusion, promote a savings culture and strengthen economic empowerment in Busia County as it continues its nationwide expansion.
By Godfrey Wamalwa
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