Qwetu Sacco eyes Sh600m income as it unveils the 2024 budget estimates

 









Qwetu Sacco is eying an income of more than Sh600m in the 2024 budget estimates unveiled at the Vacani Resort in Voi.

Taking the delegates and board

members through the budget estimates Sacco CEO Mr Charles Kaba pointed out that the institution would make profit of about Sh 84 million after expenditure of Sh 516m.

He also pointed out that the sacco planned to grow its asset by more than Sh 379m raising the total asset base to Sh4bn in the coming financial year.

“All key areas have shown remarkable improvement and we hope our members will be in a position to get quality services from our sacco” he said.

It was pomp and colour as the sacco marked its 57th birthday with the launch of a new product Bakisha, which is an account that targets all members who want to make cash deposits and withdrawals at the comfort of their working places , business and homes .

For one to qualify for Bakisha, they should have a FOSA account with the sacco, with no deposit fees and free account opening. There are no monthly leger fees and a member can transfer the gradual accumulated savings to member deposit and qualify for a loan immediately.

Hailing the new product as yet another development for the sacco, Qwetu chairman Alfred Mlowa urged members to patronize the new product to benefit from its attractive features.

“A saving culture is what will enable members to meet their financial obligations and other challenges that they may encounter and Bakisha is one product that comes in handy towards that end” said Mlolwa.

Taita-Taveta CECM in charge of education and libraries who is also acting as CECM trade, tourism industrialization and cooperatives Gloria Monikombo reiterated their commitment as a county government in supporting the sacco in its development intiatives.

The CECM who became a new qwetu sacco member praised the sacco for its democratic leadership pointing out that other saccos were experiencing wrangles due to poor leadership.

“I am glad to observe that Qwetu is a democratically run institution that’s why it has achieved the milestones it has achieved so far” the county minister said.

…et


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