Amica recovers Shs105m from defaulters

BySacco Review

Apr 20, 2021

By Kage Njoroge

The Amica Sacco debt recovery unit collected Sh105 million by end December last which risked being lost as bad debts.

The unit was created to go after loan defaulters and ensure the stability of the Saccos business.

Amica Chief Executive Officer (CEO) James Mbui says the debt recovery unit which was charged to follow up the defaulters to ensure they pay the loans.

He also said digital platforms have facilitated the customers to make real time money transactions at their convenience anywhere.

 Mbui further lauded the Sacco’s clientele for quickly embracing digital transformation away from traditional banking methods.

He said use of digital space and cut down on normal management outdoor activities due to Covid-19 restrictions helped the institution to make profit.

 The CEO noted that business volumes in rural areas increased because investments were made countrywide  due  to pandemic  fears.

 He disclosed rural informal economy drove Amica’s profits in the uncertain year, adding that they has learnt lessons and embarked on investing in high value opportunities.

Amica leadership has resolved and approved to establish its headquarters at Kenol Township, a fast growing commercial centre in Murang’a, along Thika- Nairobi highway.

The project to be developed on a three acre plot is planned to start this year.

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