By Alfred Kimosop
Boresha Sacco has been lauded for its focused growth strategy which has led to remarkable increase in membership.
The Sacco increased its membership from 60,752 in 2015 to 77,214 in 2016 following adoption of a market penetration plan of recruiting over 30,000 members annually for the next five years.
Speaking at an educational event held in Eldoret town recently, Boresha Sacco Credit Officer, Edith Rotich (pictured) disclosed that members’ deposit increased from Sh2.5 billion in 2015 to Sh2.8 billion last year.
She recognized 34 top savers with over Sh1 million shares last year. Boresha Sacco shares according to Ms Rotich increased from Sh207.2 million to Sh218.2 million.
She said total assets of the society increased from Sh4.3 billion in 2015 to Sh5 billion in 2016 of which Sh3.8 billion were loans and advances.
The Credit Officer advised members to continue taking advantage of low loan lending rates offered by Boresha Sacco to enable them set up businesses.
Speaking at the educational meeting, Boresha Sacco Treasurer, Henry Limo disclosed that the significant growth of the Society was majorly characterized by members’ continued patronage.
Mr Limo noted that the Sacco in its Strategic Plan 2017-2022 aims to strengthen its financial resource base ,credit management, physical working facilities, governance, human resource capacity and operations functionality.