By Staff Reporter.
Leaders in the Co-operatives sector in the region have been urged to embrace cyber security to help safeguard members’ deposits.
Garissa Kenya National Union of Teachers (KNUT) Secretary, Abdirizack Hussein urged especially Saccos to invest in technology that will protect them in the event of an attack because cybercrime is on the rise.
The call by Hussein who was speaking during the launch of inaugural Garissa Teachers Co-operative branch in Bura town in Fafi Sub-County followed media reports of commercial banks and other institutions having their databases hacked by cyber criminals who end up stealing millions of shillings.
The KNUT official also urged players in the sector to embrace innovative marketing strategies to grow and sustain their market share.
Hussein who is currently on a KNUT membership recruitment drive in the vast county, told Sacco officials too, to heighten their recruitment drives and improve service delivery.
The CEO of the struggling Garissa Teachers Sacco, Dekow Iman revealed that though most of its members are teachers, the Society is now open to the general public.
Aden Dida, a senior member of the Sacco also said there are plans to open branches in the various sub-counties once the number grows.
He said the Sacco’s deposits currently stand at Sh1 million and that loans advanced to members have also increased significantly.
“Fafi branch means alot to us, it was to be opened a little earlier but due diligence and legal processes the exercise was delayed. However, the good news is that the branch is now here,’’ said Iman.
He revealed plans to increase deposits to Sh2.3 million, grow loan portfolio to Sh3.2 million and increasing asset base to more than Sh6 billion by 2020 are underway.
Iman added that despite the challengeing environment, the Sacco has braved competition from commercial banks, micro–finance institutions and remained competitive through rebranding and efficiency in customer service.
Iman is confident that recruitment of more members would grow the teacher Sacco in the arid Garissa County.