August 17, 2022

Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

The Leading Newspaper for Co-operative Movement in Kenya

Centenary Sacco goes big on agency banking

Centenary Sacco CEO, Elizabeth Syengo Kobia addresses members during the recent AGM held at Meru National Polytechnic.


By Murithi Kinoti.

Centenary Sacco seeks to go big on agency banking as it expands its reach in the region and beyond.
The Sacco also plans to open a satellite office at Marimanti Market in Tharaka-Nithi County with an aim of bringing financial services closer to existing members in that region as well as tap potential members from the larger Tharaka region.
The Sacco has introduced agency outlets known as Popote agents in the endeavour to make sure its financial services and products are easily accessed by members in all corners of Meru and Tharaka Nithi counties.
Currently, there are Popote agencies found in several local market centres including Makutano shopping centre in Meru town, Chaaria in Central Imenti, Kionyo in South Imenti, Timau in Buuri, Muthara in Tigania East, Nchiru in Tigania West and Gaatunga in Tharaka region.
Plans are also at an advanced stage to open 10 more agencies this year in the market centres of Mukothima, Kathangachini and Kathwana, all in Tharaka Nithi County while in Meru County they will be located in Kanyakine, Nkubu, Ruiri, Kianjai and Kangeta. The above plans were disclosed by Centenary Sacco Chairman Michael Kirimania during the Sacco’s 15th Annual General Meeting (AGM) held at Meru National Polytechnic social Hall recently.
The Chief Executive Officer, Elizabeth Kobia called on members to work hard in making the Sacco grow even bigger by recruiting new members who are either friends, family members, village mates and neighbours among others.
She also urged members to borrow more and then repay to enable the Sacco make profits which in turn will increase dividends. The Sacco recruited close to 4,000 new members in 2016.
Its core Capital grew by 33 per cent from Sh56.9 million in 2015 to Sh75.8 million as at December, 2016.