Nufaika Sacco gives back to the community

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Mar 8, 2017
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By Wesley Ken

Nufaika Sacco Society Limited which was ranked Society with the highest dividend rate in Kirinyaga County is giving back to the community through its Corporate Social Responsibility (CSR)  programmes. It paid dividends to members at the rate of 13 per cent, the highest in the County and is the reason it was feted during the 2016 Kirinyaga County Ushirika Day awards.

Recently, the Society visited Little Angles Centre for Orphans and Vulnerable Children, an institution located in Makutano town, Kirinyaga County during the end year festive season and made cash and food donations.

“The Society’s Board of Directors set up a panel which identified the institution that caters for orphans and the destitute as the most deserving cases. This is how a decision was reached to visit Little Angles,” said Mwangi Githaka, Nufaika Sacco CEO.

The children’s home was established in 2002 to cater for orphans and vulnerable children from the surrounding community. After a period, the home began taking children from other parts of the country as well.

Today, the home has enrolled more children totaling 52 made up of 34 boys and 18 girls. “We have well-wishers from the local community who are our members and give us money. So, it is only imperative that the Sacco also gives back to the society. We intend to widen our scope and target other groups in Society, especially the poor and elderly,” said Mr. Githaka.

Although Nufaika Sacco’s CSR programmes involves incurring short term costs and therefore yielding little or no financial gains, Githaka believes that in the long-run, the programmes will have a positive social economic impact o the community.

“We all have a story to tell personally have come a long way; I went through school with all hardships, even changing schools

because of fees problems. Put your trust in God and respect your foster parents here. You are also going far,” Mr. Wilson Ndung’u,

Nufaika Sacco Board of Directors Chairman told Little Angels Children.

He told the children to strive and achieve the best in life even as they face challenges, using himself as an example and product that was raised from humble backgrounds. The Board of Directors pledged to continue offering donations for the upkeep of children in the home.

Mr. Paul Gichuki, Director of Little Angles Children’s Home thanked Nufaika Sacco Board of Directors, Management and Staff for the kind gesture and generous contributions to the institutions  during the festive season. Formerly known as KICOWO (Kirinyaga County Workers), Nufaika Sacco initially offered savings and credit services to workers of the then Kirinyaga

County Council, Municipal  Council Kerugoya/Kutus and the Town Council of Sagana/ Kagio.

In 2013, the Sacco changed its name from KICOWO to Nufaika Sacco Society Limited after it amended the Society’s by-laws to

Accommodate non-County Government members.

At present, it is offering both Back Office Service Activity (BOSA) and Front Office Service Activity (FOSA). “We carried out a customer survey and realized a huge demand for medium term loans, those that take two years to repay. We will be rolling these products soon. The Society is also building a robust ICT infrastructure that will enable members to access products and services

using their mobile phone handsets. We have already identified a vendor who will soon install the platform,” said Githaka

All these new products and services will be available to members once the necessary approvals have been received from the Sacco Societies Regulatory Authority (SASRA). Nufaika Sacco Societies Strategic Plan (2016-20) includes increasing its membership to 10,000, launching new products to meet specific needs of its members and digitalizing all its services by beginning of this year.

“Management is not easy and whenever we face challenges, the Society prefers to take these obstacles. Our growth plan has been a success because of how we handle challenges,” said Gichuki.

Currently, Nufaika Sacco is serving over 90 per cent of Kirinyaga County employees and is fully licensed by SASRA to operate deposit taking business.

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