By Dennis Bett
Smartlife Sacco, formerly Marakwet Teachers Sacco (MTC) has recorded a turnover of Sh87 million for the financial year ended December 31, 2017.
Registered in 1995 after liquidation of Keiyo Marakwet Teachers Sacco (KMTS), Smartlife Sacco has since grown in size offering new and friendly products and services to members.
Speaking to Sacco Review at his offices, the Sacco’s CEO, Haron Biwott said that the impressive performance was realized due to cooperation between the management and its members.
He said the Society saw a 9 per cent rise by December 2016, which translates to 3600 members up from 2000 in 2015.
“We now have 3,600 active members and we are mobilizing more members to join the Sacco. We have already opened a satellite branch at Kapcherop in order to expand our network and meet increasing demands for services and products from our members,” said Biwott.
He added that the Society is committed to be successful in all its operations. Members of the Sacco increased their uptake of loans from Sh260 million to Sh360 million during the financial year ended December 31, 2016.
The Society’s Chairman Francis Kiprop said that the Sacco is conducting education days for its members to enlighten them on how the Society operates, how to invest and as well as create wealth by saving through the Sacco.