Women Sacco unveils growth strategy, elects new officials

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Mar 2, 2017
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By Boniface Mulu

Kitui Women Savings and Credit Co-operative Society Limited is facing a number of challenges related to products, services development, governance and human resources, according to the CEO, Elias Waki.

Mr Waki said the society lacks adequate staff and largely relies on the management committee volunteers and Women Enterprise Fund(WEF) officers   in   Kitui West and Kitui Rural Constituencies to   recruit members.

He said the Sacco draws its members mainly from the two constituencies, adding that the other challenges facing the society include competition from upcoming women Saccos in areas where the society   operates.

To deal with some of the challenges,   Waki announced plans to extend loan repayment period from the current six months to 10months for amounts ranging fromSh30, 000  and above starting this year.

“We plan to enhance the loan amount from Sh30, 000 toSh90,000 repayable in 10 months but on pilot basis as from January2017,” he announced.

Waki spoke during the society’s special Annual General Meeting held recently at Kitui County Pot Hotel in Kitui WestSub-County where the Lower Yatta District Co-operatives Officer, Leonard  Syengo was the chief guest.

“The strength of every Sacco remains the number of it clients in terms of active membership thus marketing of our society and we propose to use volunteers in each region and recruit them,” Waki said.

He said the society has recruited896 women and 67 men as individual members and 60 social groups registered by the Kenya’s Social Services Department since its formation in August 2013.“So in total we are 963 individualsand 60 groups and the recruitmentis still on,” Waki,  who is also the Kitui West and Kitui Rural Constituencies WEF Coordinator said.

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