Wevarsity Sacco brainstorm with top savers on turnaround strategies

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By Shichangi Richard 

Wevarsity Sacco has held a meeting with its members who are top savers to chart the way forward of the Sacco operations.

Speaking to Sacco review after the meeting, the chairman Dr David  Alila disclosed that the Sacco management  realized that they needed the input of its top savers so that they can jointly make strategic plans to realize their set targets.

The Chair noted that the Sacco was going back to its former stability, saying the remittances of members had improved to more than nine

million monthly while the other products were working as per the Sasra requirements.

He observed that the top savers are people who have the interest of the Sacco at heart, and that their contribution was paramount to the growth of the Sacco.  He said they deliberated on a number of issues touching on the improvement of the Sacco. These include how to increase the shares of members and the introduction of other products that will attracts interest to improve on their savings.

The Chair commented that the Sacco is on an upward trajectory because confidence of members had been regained. He observed that they were fully supporting the current management to bring meaningful change.

He said they were planning to shift to a new site where they have put up a plaza and called on members to get shares to reap dividends.

The new acting CEO  Rehema Atieno urged members to patronize the Sacco’s new products such as Maliza Mradi and microfinance, saying they can help reduce external borrowing from banks.

The CEO observed that the Sacco was operating within the Sasra regulations in all areas except liquidity ratio, which she said was at roughly nine hundred million shillings. She explained it was still below the 15% SASRA requirement.

He said they were planning to make Wevarsity Sacco a one stop shop for competitive services and with favourable interest rates.

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