Three teachers prove sacco loans can turn around lives

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Feb 16, 2017
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By Munene Maina
Imarisha Sacco Society Limited gave
Alfred Chepkwony, Peninnah Chepkemoi
and Faith Kandie, three teachers
based in Kericho County, a loan of Sh
1.5 million for construction of a school.
This project was planned to have a three
storeyed modern complex and dormitory
block.
This cash ran out before the project
was complete and the trio went back to
Imarisha Sacco who gave them another
loan of Sh 700,000, based on their shares.
The trio could still not complete the project
and went back to Imarisha Sacco for
another loan of Sh 450,000.
After increasing their savings substantially
and heeding to technical and financial
advice from Imarisha Sacco, Chepkwony
and his partners were able to get a
loan of Sh 4 million, which they added to
their savings and completed construction
of all the required facilities and structures.
This was in September, 2015 when all the
work on the project reached completion.
In January 2016, Lorraine Girls High
School Litein opened its doors to the first
batch of students, to the delight of Chepkwony,
Chepkemoi and Kandie.
This modern educational facility has a
student population of 28 girls, with qualified
teachers, spacious classrooms, well
equipped laboratories and a serene environment
conducive for learning.
“We thank God that we have been with
Imarisha Sacco at every step of the way.
We could not have reached this far without
assistance from the Society-which has
been our financial partner and has transformed
our lives as we strive to repay our
loans,” said Chepkwony.
He urges other private individuals, colleges,
schools and family businesses to join
Imarisha Sacco so as to save, borrow and
grow. Chepkwony, Chepkemoi and Kandie
have received awards from the Sacco, over
the last two years, for being among the top
BOSA depositors at Imarisha Sacco.
Chepkwony, who joined Imarisha
Sacco in 1994, has been able to undertake
Undergraduate and Masters’ degree studies.
He has also been able to educate his
children without much financial strain.
“Since i joined Imarisha Sacco, I have
had no regrets and have never looked up,”
said Chepkwony who is undertaking his
PhD Studies at Jaramogi Oginga Odinga
University of Science and Technology.
It has been a journey of faith and determination
for Chepkwony, Chepkemoi and
Kandie, three teachers based in Kericho
County. These individuals were determined
and strong-willed teachers, who used Imarisha
Sacco to realize their dreams.
Chepkwony, Chepkemoi and Kandie
met at Kenyatta University more than 9
years ago. This was during their schoolbased
degree training program that usually
occurs over the school holidays. It was during
this period that the three teachers conceived
the idea of establishing a college,
The Great Rift Valley ECDE College. This
was happening as their close friendship
soon turned into a business partnership.
Upon completing their studies, the trio

established the college in April, 2007, situated
at St Kizito School of Deaf. The College
has been a success attracting students
from all over the Country. Figures indicate
that over 700 diploma and 500 certificates
have been awarded to students to date. All
the success attributed to this project is to
Imarisha Sacco, which has been the financial
partner for Chepkwony, Chepkemoi
and Kandie.
“Following success made by the College,
we were inspired to go for more projects.
Our problem was lack of capital to
make the plans we had into reality,” said
Chepkwony.
The trio identified a two acre plot of
land at Chesingoro, Bureti Sub County and
bought it at a cost of Sh 1.2 million. It is on
this plot that the three teachers decided to
construct a girls’ secondary school.
“We had exhausted our savings after
this purchase and thus approached Imarisha
Sacco, where we are members, for a construction
loan. We could not afford the expensive
loans from banks and thus had no
option but to come to Imarisha. The Sacco
advised us to open a corporate account and
increase our savings,” said Chepkwony.

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