Solution Sacco targets Sh10bn total asset growth


By Wesley Ken

Solution Sacco Limited has formulated its strategic plan targeting to grow total assets to Sh10 billion by the year 2020.
This Strategic Plan focuses on key strategic areas that will steer the Society into greater heights.
The overall objective of the strategic plan is to enable the Society be financially stable and to meet the demands and expectations of members and other stake holders.
It will, therefore, act as a guide and reference document for the Society in achieving this overall objective.
To achieve this growth, the Society’s board of directors have authorised investments in channels of serving members including branches, agencies and mobile banking platform dubbed HudumaSasa.
From April 2018, through HudumaSasa, all teachers will be able to apply loans from the comfort of their staffrooms or homes, without having to visit the Sacco’s physical premises.
AS part of its 2018 ICT modernisation programme, the Sacco has already signed a contract with Interswitch (An Africa-focused integrated digital payments and Commerce Company) to provide it with a platform that will enable the Sacco’s ATM network to access other ATM networks across the world.
According to Daniel Marete, Solution Sacco Chief Executive Officer, HudumaSasa is set to commence in April this year, after the launch of the Sacco’s Strategic Plan that is slated for 31st March.
SSL’s projections are that, by the year the 2020, its membership will have hit the 60,000 mark. The current 10 branches increased to 24, with over 240 agencies, serving members in at least 9 counties. Marete told Sacco Review that all SSL branches were fairing well, noting that the Sacco’s branch opening is customer driven, and done after thorough visibility studies and survey to identify ‘virgin markets. The Sacco recently opened Tseikuru branch.
“The town had no financial institution. Not a single mobile money transfer service like M-pesa. One had to travel to Mwingi town which is both costly and time consuming.,” he said.
This year, a 10th branch is set to be opened in Nairobi CBD, along Accra road –Tea Room road.

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