iMPACT NEWS

 It was jubilation, song and dance during the much awaited official opening of the Qwetu Sacco Plaza at the Voi CBD . Businesses almost came to a standstill as excited residents lined the streets to witness the colourful procession weaving its way from the magnificent building towards the Moi Stadium. The Voi AIC church brass band belted out heartrending melodies as they led the march , to the excitement of all those who had attended the colorful event. The Taita-Taveta County government choir was also at hand to play their part with well orchestrated music while the Mwazindika drummers made the climax of the entertainment at Moi stadium where the invited leaders joined in to dance and partake of the enchanting dances. The chief guest during the event Hon Simon Chelugui, the Cabinet secretary for MSME Development said he had visited different sections of the building and was satisfied that it had met all the key requirements of a banking facility. “I have been conducted through ...

The financial year ending December 31 2023 recorded an upward growth in all key areas for Qwetu Sacco. According to the Annual report and Financial statements presented to the delegates during this year’s ADM at Vacani Hotel in Voi by the sacco cha”rman Alfred Mlolwa, there was remarkable growth in membership, asset base, members deposits, loan portfolio and share capital. The share capital recorded an impressive growth of 24 per cent, rising from Ksh 127, 529,814 in the year 2022 to Ksh 158, 964,828 in 2023. The loan portfolio grew by 14 per cent, rising from Ksh 2,387, 680,175 in the year 2022 to Ksh 2, 733, 880,628 in 2023. The asset base grew from Ksh 3,223,610,935 in 2022 to Ksh3,556,846,061, representing an upward increase of 10 per cent. Members deposits increased from Ksh 2,133,418,234 in 2022 to Ksh 2,353,596,252 in 2023, an increase of 10 per cent as well. The sacco membership increased from 53,691 in 2022 to 55,615 in 2023. “The major business of the sacco is savings and cr...