Kenya Bankers Sacco has launched a Christmas raffle draw which will see members who deposit more than their usual monthly savings gifted shopping vouchers with a goat as the grand prize.
To qualify, members must have a minimum share capital of Ksh30,000 and have made deposits between November 24 and December 20.
The Sacco will conduct a draw to select the beneficiaries who must also have active accounts with no loan arrears. The draw will take place on December 20, and the winners will be awarded on December 21.
“The draw will be run on December 20 at noon and winners will be awarded on December 21,” a post from the Sacco’s social media pages reads.
Currently, more Saccos are encouraging members to save more to increase their capital adequacy and ensure financial stability.
According to a report by the Sacco Societies Regulatory Authority (SASRA), Saccos held deposits worth Ksh620.45 billion and loaned out Ksh680.35 billion to members by the end of last year.
However, the gap between loans and deposits has grown to Ksh60 billion in 2022, indicating a higher demand for loans, leading to Saccos borrowing from other financial institutions to meet the loan demands, resulting in high finance costs.
By Amos Kerich
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@shrendpublishers.co.ke
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
