Qwetu Sacco:We are on the right path towards discharging our core mandates

 



 Qwetu sacco, the leading savings and credit cooperative society in Taita-Taveta County has reiterated its commitment to discharging its core mandate of providing loans, advances and timely salary payments.

 Addressing delegates during this year’s Annual Delegates Meeting at the Two Oceans Hotel in Voi which witnessed the adoption of the audited financial statements for the year 2024, the sacco chairman Mr Simon Mbashu assured the members and delegates that the sacco was firmly on the right footing in discharging its legal mandate.

“We are pleased to report that our audited financial statements show positive progress across most of the key areas. We remain guided by a deep commitment to transparency, trust and service to members” said Mbashu, noting that the sacco had recorded a growth in revenue from Ksh 533m to 616m, a positive trajectory he said served as an indication of the sacco’s resilience in challenging economic times.

“The major business of the sacco is savings and credit for the mutual benefit of the members. It’s from these savings that we build enough working capital to fund the sacco activities like advancing credit to members and these loans ultimately help the sacco to generate income in the form of interest and other commissions which form the bulk of our income” said Mbashu.

 Mr Mbashu at the same time pointed out that the sacco was working on robust recovery strategies and the strengthening of internal systems to ensure that the sacco was in the best position to continue growing sustainably.

“We have to increase our efforts to improve our income collection and reduce expenditure where necessary. Our sacco has put in place a strong ICT infrastructure envisaged to drive digital transformation for improvement of efficiency so as to remain versatile to change and also to guarantee seamless service delivery” said the sacco chairman.

“We shall leverage on the digital platform, innovation of products as well as standardization of our operations so as to deliver quality and valuable services to members. The call centre is now up and running and our expectations is efficient and prompt service delivery” he said.

..end


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