By Dennis Bett
Prime Time Sacco has resolved to open a satellite office at Biretwo trading centre on the Iten-Kabarnet road in Keiyo South sub-county.
The decision was communicated recently during the society’s 24th Annual Delegates Meeting (ADM) at Iten School for the Deaf by Sacco chairman Thomas Rotich.
He said a feasibility study they conducted established the need to extend services to the fast-growing area in Kerio Valley.
He also said the construction a perimeter wall at the Chepkorio branch offices was 90 per cent complete, while similar work at Iten branch will be done together with painting and other security aspects.
The Chairman said delegates had approved plans to grow membership to 7,000 and increase the asset base to Sh1.1 billion in the next two years.
“We saw a sharp rise in income to a tune of Sh96.3 million despite the tough operating environment of a serious Covid-19 pandemic,” he said.
Members proposed that the share capital be increased from the current Sh15, 000 to Sh30, 000 by an increment of Sh5, 000 annually for three years.
“That will gradually boost the Sacco liquidity ratio which currently stands at the base minimum of 8%,” the Chairman disclosed adding that the Society is among the best performing in the county.