Maisha Bora Sacco Celebrates Exponential Growth

The strength, resilience, and footprint of the Savings and Credit Cooperative Societies (Saccos) in Kenya cannot be underestimated.

Saccos have brought a positive socioeconomic transformation to millions of Kenyans by ensuring access to credit at reasonable interest rates.

One such Sacco is Maisha Bora Sacco under the chairmanship of Mr. Michael Muhanda who, on the occasion of the Sacco’s Annual General Meeting Sunday, he noted:

“We will also not lose sight of our strategic plan that is geared towards us having an Asset base of 16Bn by the end of 2026, in the process guaranteeing a worthwhile return on your investment, ” he said.

” Our treasurer will highlight more on this mantra we are driving. 2024 will be the year that our institution turns 50 years. As part of the celebrations, we will recognize the many milestones we have made and honor the incredible contributions of each member of our Sacco, ”

He says this will also be a period where they will reflect and choose to redefine Maisha Bora as an institutional powerhouse.

“This occasion will likewise allow us to express our gratitude to one another and to celebrate the remarkable journey we have shared since together we have achieved greatness beyond measure.” he said.

Currently, Maisha Bora Sacco has an asset base of Kes. 5.7B buoyed by its loan book that registered a 17% growth which in turn has resulted in a 15% growth in our revenues translating to about Ksh.58M/Month with 95% of that being interest income.

This growth has translated to better payouts this year, being 10% in rebates a 33% increase compared to 2023 and a 15%, dividend on share capital.

However, our success is not solely measured by financial metrics but our approaches to sound financial management.

“On this I want to urge all members to plough back their earned dividends & capitalize on the cushioning the Sacco is offering you against the high-interest rates currently in the market, through our reduced charges on borrowing to aid you towards future borrowings on the investment opportunities that you or your trade desires for business continuity,” he said.

” Again, our success should also speak to the positive impact we have on the lives of our members and by extension the communities we serve through our various loan products, ” he added.

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