Mentor Sacco Chief Executive Officer (CEO) Joyce Waceke Ndegwa is one of the most highly rated female leaders in the cooperative sector in Kenya.
Waceke, the lead actor in this increasingly illustrious cooperative society, exhibits deep knowledge of the Sacco sub-sector.
“You need to understand your industry thoroughly; new and emerging trends, and threats and competition so as to formulate new ways to tackle them,” she asserts.
Waceke – an amiable, firm and cultured personality – is clear in her mind that Saccos have the capacity to tackle poverty and empower members to create sustainable streams of incomes.
She told Sacco Review on the tenth floor of Mentor Sacco Plaza, which is the headquarters of the gigantic Sacco situated in Murang’a town, that she has mounted the steps one at a time to reach the pinnacle of the financial institution that has more than 39,912 members.
A mother of four and a wife, Waceke is a humble person who has inculcated in herself strong family values.
She says leaders in charge of public resources should avoid graft and wastage to ensure that assets are strictly managed for the benefit of the people that have a stake in it.
She is a university graduate with a Bachelor of Commerce (Finance option) from Kenya College of Accountancy and a trained accountant (Certified Public Accountant).
Through the ranks
She got employed in the Sacco, known as Murang’a Teachers Society then, 28 years ago as a general clerk. She has served in all departments within the organization and was an active strategist in the establishment of functions and the road map to the place they are now.
She moved through the ranks gradually and patiently, getting into the positions of Chief Finance Manager and Deputy CEO and remaining there for many years before climbing to the top in 2017.
She was instrumental in the transformation and creation of the Front Office Service Activity (FOSA) when she was the finance manager.
“We worked pretty hard to ensure FOSA services were a success despite strong opposition and teething challenges at the elementary stage,” she recalls with a smile of accomplishment.
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Further, she notes that the Sacco was able to buy a plot and build the magnificent multi-million headquarters that they obviously called Mentor Plaza; the tallest landmark in Murang’a town.
Higher calling
Her leadership competency was noticed by managements of other Saccos in the country who regularly consult her on various issues.
Consequently, Kenya Teachers Saccos Association (KETSA) elected her as the CEOs’ Forum boss. Soon after, the 24 teacher Saccos unanimously re-elected her for the third year running.
KETSA’s objective is to address issues and challenges affecting their businesses together.
Nevertheless, her primary focus still remains her Sacco, where she would like to see its future being the most preferred financial provider that will impact greatly the lifestyles of its members.
The chief executive says the Sacco has been able to record the growth and financial stability due to loyalty, trust and confidence of the members towards the management.
She reveals that the secrets behind attracting new members and depositors are transparency in financial management, member-centered service delivery, and tailor-made financial products geared to meet the needs of the clients.
Also she credits the growth of the Sacco to teamwork among all actors and stakeholders who have embraced the society as their home of financial help.
Mentor Sacco is a tier one institution according to the Sacco Societies Regulatory Authority (SASRA), which is a special category of Saccos with over five billion shillings in assets.
By Kage Njoroge
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