New Sacco scaling the heights through income mobilisation

BySacco Review

Nov 7, 2018

By Calistus Imbayi

Kakamega Rural Roads Workers (KRRW) Sacco Ltd is one of the fast-growing financial institutions in Kakamega County, having set its goals and focused on steadily scaling the heights to the top most position.
The society’s income target projection for the year 2018 is Sh6, 580,000, with an average monthly income of Sh520.000.
This was revealed by the Sacco’s Chairman Francis Nandwa during the 33rd Special General Meeting.
The special general meeting which was held in the Magharibi Hall recently had its main agenda set to consider and approve the society’s budget for the year 2019.
“It is worth noting that with an average monthly income of Sh520,000 as is being realized this year, and with Sh3,418,258 actualized as at June and with the six Months still remaining to the end, we are definitely moving towards achieving our target for the year 2018 income projection of Sh6,580,000”, the Chairman stated.
He added that the Society’s management has tried as much as possible to minimise expenditure by operating within the budget guidelines in order to achieve their goals.
The Sacco won two trophies one for the Most Self-reliant co-operative society and runners-up in Loan Services to members.
However, the Society’s current challenge is on member recruitment.
The Chairman remains optimistic that the issue will soon be a thing of the past if members recruit others.
“We need to pull up our socks in recruiting more members as this trend is not encouraging bearing in mind our Strategic Plan for 2015-2015 and our growth initiatives”, Nandwa noted “As a Board of Directors, we encourage members to patronise our products, borrow wisely and pay prudently too”, he told members.

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