Kavuda Sacco to offer FOSA services

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Jun 26, 2017
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By Richard Shichangi.

Kakamega Vuma Daima Sacco has declared 10 percent payment of dividends to its members and another 8 percent payment of interest on members’ deposits.
Addressing members during the Sacco’s Annual General Meeting held at the County Social Hall, the Sacco’s chairperson, Mrs Iris Masambaga urged members to use the earnings to boost their share reserves in order to enable them meet the SASRA requirement for them to come up with FOSA services.
“Fosa services will be of great benefit to us besides being cheap. The move will also generate income for the Sacco, hence improving returns,” she noted.
She observed that as the Sacco has opened a common bond to attract more members and, hence it needs to start FOSA services to serve more members who will be recruited from other institutions, youths and women groups as well as individual business people.
The chair said the Sacco has rolled out a Pay Bill No to ease members’ payment to the Sacco.
During the occasion, Gidion Muteshe, Wycliffe Khavuchi and Mathias Matoya were the Highest Saver awards, while Mary Afandi and Jones Wakwova were named the Highest recruiters.
The occasion was also graced by Kakamega Commissioner for Cooperatives, Nathan Mikhweso among others.

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