Chai Sacco Records an Overall 29% growth

A tea plantation farm PHOTO:COURTESY

By Abel Muhatia

Chai Sacco has recorded an overall growth of 29% in the year ended 31st December 2014 up from ksh.1.53 billion.

This comes after the Sacco’s 5 years growth strategy, which saw improvement of service delivery to increase in its membership.

“The Sacco’s growth can be linked to a number of factors inclusive of growth in member deposit and an increased appetite in loans by the members” said the CEO Purity Maina DURING THE 42ND delegates meeting.

The Sacco had increased its revenue by 23.4% which was propelled by growth in loans standing at ksh.1.7 billion, hence the revenue shot to 28%  Overall member deposit grew by 16%.

This has been linked to the share capital mobilisation campaign launched mid November last year.  The share capital drive aims to raise 500 million that will go to the Sacco’s devolvement plan.

Boniface Ayub, the Sacco’s chairman, attributed the growth to the financial trainings given to members and an improvement in personal debt management by the same members.

 @biashara_news

About the Author

Muhatia
Muhatia is the Managing Editor of Biz News Media Reach him via editor@biznews.co.ke