Nafasi DT Sacco recently rebranded from Nafaka Sacco so as to open up the market through new products which target various sectors of the economy.
Speaking during the rebranding and opening of the Sacco’s first branch at Shujaa Mall in Kayole, Sacco chairman Koech Mwerey said the new branch is a great milestone for the Sacco.
“We researched and collected data to find the right place to open a branch in Nairobi County and settled on Kayole since it is full of businesses owned by common mwananchi such as mama mboga, boda boda riders and PSV operators, among others. Our target is to venture into MSMEs and we promise to offer the best services and products,” he explained.
He expressed optimism that through rebranding, the Sacco will achieve its dreams.
The chair revealed that plans were underway to introduce Sharia compliant products to attract those from the Islamic faith and that they plan to recruit 10,000 members within the year with an aim of getting 40,000 members in the next 5 years.
He added that the Sacco has introduced a digital platform for members to deposit, save and apply for loans through their phones.
Sacco CEO Moses Njeru Nyaga said the Sacco aims to bring on board those with low income streams and that so far, the Sacco has 2,202 active members with an asset base of Ksh714 million.
Simon Chelugui, Cabinet Secretary (CS) for Cooperatives and MSMEs Development, noted with pride that the Sacco has grown and come up with innovative and commendable ways to meet members’ needs.
Chelugui applauded the Sacco for rebranding, noting that it will give room for the public to access their products and services.
He noted that the Cooperative business model is best placed to facilitate financial deepening and access in the implementation of the bottom up economy.
“The cooperative movement is expected to play a big role in the bottom up economic blueprint, particularly financing,” he said.
By Michael Opiyo
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