Biashara Sacco to offer agency banking

By Asa Maina

Biashara Sacco has been licensed to operate agency banking services by Sacco Societies Regulatory Authority (SASRA).

The move follows a successful pilot implementation and opening of a satellite office in Mairo Inya along Nyeri – Nyahururu road.

The institution has also embarked on the full installation and development of the Electronic Document Management System (EDMS) which commenced last year.

Biashara Sacco will also be opening another satellite office in Wang’uru town in Kirinyaga County.

Currently, it has managed to scan over one million documents and deployed the system in all branches to ease on the movement of documents.

“Key to highlight is our agency banking services where we closed the year with 70 agents who brought more than Sh0.8 million as commission from the services offered,” said Biashara Sacco chairman Joseph Njamuku.

He added that the Sacco was now offering services in towns or shops near their clients and more satellite offices will be opened in Kitengela, Kenol, Murang’a, Chaka and Timau town.

The Sacco is also in the process of drafting an Memorandum of Understanding (Mou) with the county government of Nyeri to cover all the markets in the the county.

That will enable market traders to use their stalls and kiosks to acquire loans from the Sacco.

Last year, Biashara donated Sh100,000 to Nyeri Hospice and assorted foodstuffs to needy families in its annual thanksgiving ceremony  through its Corporate Social Responsibility (CSR) policy.

They also donated a Sh100,000 cheque towards the county Covid-19 kitty.

“Our main emphasis this year is to implement our recovery plan by putting more concentration in our core business of selling loans and insurance products through robust marketing campaigns to potential and existing members,” said Njamuku.

He said no branch was closed down, staff laid-off nor had their salaries reduced because of the pandemic.

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