By Azael Masese.
Mwito Sacco has been urged to be innovative in the range of products and services it offers to its members to attract more business.
Chairman of Ethics Commission for Co-operative Societies (ECCOS), Philip Gichuki, speaking during Mwito Sacco’s 36th Annual General Meeting in Nairobi, recently noted that if Saccos are to survive in the competitive market they have to continuously improve their products.
“Since every Sacco is in the business of trading in money, members should ensure Saccos mprove services to retain current members and attract new ones.
“How you package the product will matter most and you must prepare yourselves to be in tandem with market changes,” he advised.
“There are more than 500 Saccos, out of which 171 are regulated by Sacco Society Regulatory Authority (SASRA) and with this affords members freedom to join a Sacco of their choice,” he noted, adding that each Sacco should strive to retain members even as they seek to recruit new ones.
However, he discouraged the craze where every Sacco is trying to have a physical branch in an area as they seek to establish a footprint and net more members across the country.
With the mobile platform, co-operative the players can serve members better even without having a physical branch in a given region, he said.