Qwetu sacco upbeat as it unveils Sh 2.3 billion 2019/2020 budget
Qwetu sacco upbeat as it unveils Sh 2.3 billion 2019/2020 budget Qwetu sacco has weathered the tough political and economic challenges to unveil a more than Sh2.3 billion budget for the 2019/2020 financial year. Reading the budget estimates during the special delegates meeting held at Vacani hotel at the outskirts of Voi town, Qwetu sacco CEO Mr Charles Kaba pointed out that the budget estimates represented a growth of Sh158m. The CEO revealed that the lions share (60 per cent) of the projected growth would come from owners’ capital or long term deposits. “Out of the projected growth of more than Sh 158m,Sh 95m would come from the long term deposits” said Mr Kaba. Other anticipated growth areas include institutional capital contributing Sh 43m(27 per cent) provisions and other liabilities at Sh24m(15.2 per cent) and demand deposits at Sh 12m(7.8 per cent). Mr Kaba also revealed that during the 2019/2020 financial year,total earning assets would stand at m...