Principal Secretary State Department for Cooperatives Development Patrick Kilemi has urged cooperatives societies to adopt and frequently upgrade their ICT systems to aid in prompt decision-making and efficient delivery of service.
The PS who was speaking during the 25th Anniversary Celebrations of DIMKES DT Sacco Society Ltd On 19th July 2024 at ACK St. Paul’s Kiambu said information technology continues to transform the social and business environment and societies must adopt it.
“We have observed a number of system related challenges during and after the implementation which may affect the operations but with time a state of system stability is achieved,” said Kilemi.
He challenged Sacco boards to be committed to ensuring that the Saccos have a system that can drive the business strategy and progressively review its adequacy going forward.
The PS also urged Sacco leaders to be innovative so that they can come up with financial products which are demand driven and attractive to their members.
Kilemi noted that societies have a unique advantage in that their clients are also shareholders. The members should patronize the services of their society where they are co-owners.
The PS observed that cooperatives are key institutions that will support the Government development agenda.
Spouse of Deputy President Pastor Dorcas Rigathi who also attended the 25th Anniversary said the DIMKES Sacco is a testament to the power of being deliberate, intentional, and having a vision.
She said the impact of the co-operatives is felt deep in the villages through community economic transformation, and contributing more than 43% of our GDP.
“The mothers, founders of this Sacco, understood the biblical principles of prosperity, increase, and dominion. They took an investment step that has made us proud,” she said.
Kiambu Deputy Governor Rosemary Kirika urged the Sacco to come up with attractive products and services for the youth.
She said the youths, particularly the Gen Z’s are the driving force behind the emerging creative economy.
According to recent population data, the youth constitute a significant portion of Kenyan’s population. Approximately 35% of Kenyans are aged between 18 and 35 years.
Mount Kenya South Bishop Charles Muturi said the presence of DIMKES is felt across in the region, it has membership of over thirty three thousand.
Chairlady of the Sacco Caroline Gikonyo said DIMKES journey started in 1999, it is a reputable deposit-taking SACCO commanding an asset base of Kshs. 2.8B, deposits of Kshs. 2B and a loan book of Kshs 2B.
Through the 25 years of its existence, it has achieved financial excellence offering diverse products and services.
Cooperatives in Kenya command an asset base of over Ksh. 1.7 trillion, a loan portfolio of more than Kshs. 1 trillion and have mobilized savings and deposits over Kshs.1.1 trillion thereby contributing about 30% of the national savings.
By Obegi Malack
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