By Wesley Ondieki
Kenya Marine and Fisheries Research Institute (KMFRI) Sacco is set to open a fully fledged FOSA branch outside Mombasa, Sacco Chairman, Rashid Anam (pictured) has said.
“Among our future prospects, we will have a FOSA in a place yet to be identified outside Mombasa. We will also partner with members to start housing projects which will enable the Sacco to acquire an office block to accommodate the Head Office,” he added.
Speaking during the recent 28th Annual General Meeting (AGM) held in a hotel in Mombasa, he noted that the Sacco was currently in talks with the office of the Director for Co-operatives in Mombasa together with KMFRI Housing Co-operative Society with a view of developing strategies that will help operationalize the intended ventures.
KMFRI was started by a small number of Kenya Marine and Fisheries Research Institute employees over 30 years ago. They organized and mobilized savings gradually towards leaving a social and financial legacy which has endured to date.
Kenya Marine and Fisheries Research Institute (KMFRI) Sacco has achieved a healthy surplus in recent years. It posted an increase of Sh9.61 million from Sh46.44 million in 2015 to Sh56.04 million in the financial period ending December 31, 2016.