Mhasibu Sacco embarks on ambitious growth strategy

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By Kiptanui Rutto

Mhasibu Sacco Chairperson Andrew Bulemi and Treasurer Charles Miricho have once again won the hearts of their members for being re-elected to office in a much hyped elections that attracted 10 contenders.
Speaking during the event, a long serving financial coach Patrick Wameyo who was the guest speaker lauded the Sacco board for their service to members and steering the Sacco to greater heights.
He urged the accountants to save well, borrow wisely and pay promptly.
Wameyo, who has practised commercial and investment banking for over 19 years in Kenya’s Financial System said investment, is very important and best when you are still new in your job because its benefits later will be bigger.
He said those who invested on land along the Eastern and Southern by-pass are now reaping big.
He challenged the Sacco board to invest on member education and recruit more members through opening a common bond to boost the Sacco’s cash flow.
During the elections, Phoebe Nandwa, the outgoing Secretary received applause as she opted to retire but asked for a lady replacement to her position thus giving Grace Anne Muthoni an easy way to sail through, winning with a landslide.
Muthoni had promised the automation of processes and implementation of the service charter, higher returns of 10 per cent and above, online and mobile phone loan processing, E-voting, interactive complaints and guarantors portal and empowering the secretariat.
Chairman Bulemi said apart from the milestones he has delivered to the Sacco, he will champion the members’ recruitment, enhance robust computerised environment, address guarantor-ship problems and historical subsidiary concerns and steer the sacco management to the top.
The Sacco treasurer, Charlse Miricho said he will ensure strong sustainable financial ratios, improve Sacco processes to minimal paper interactions and empower sacco secretariat.
Other candidates included, John Gikima, Caroline Nyaga, Martha Njeri, Geoffrey Mwaniki, Jennifer Amala and Lucy Wanjiku.
Mhasibu Sacco was registered over 30 years ago and is spearheaded by the Institute of Certified Public Accountants of Kenya (ICPAK) driven by the wish to provide Savings and Credit facilities to its members.
The Sacco draws its members from the accounting profession which includes, inter alia: qualified accountants yet to be members of ICPAK, students of KASNEB and ACCA, employees of institutions that offer training in accounts as well as the spouses and children of existing members.It now boasts of over 18,000 members.

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