New stride for Qwetu as new branch opens in Mombasa

 

Positive developments for Qwetu as the sacco opens up a new branch in Mombasa

Qwetu Sacco ,the leading savings and credit cooperative society in Taita-Taveta county has spread its wings further by opening a branch in Mombasa to ensure that the Sacco’s ever growing membership obtains the required services at the coastal city.

Addressing delegates during this year’s Special Delegates Meeting(SDM) held at the Two Oceans hotel in Voi,the sacco chairman Mr Simon Mbashu said the new offices at Kengeleni Lights in Kongwea were strategically positioned to cater for the growing sacco clientele at the coast.

“The project whose budget was approved by the delegates was successfully completed and the regulator(Sasra) certified the branch to proceed with operations. We selected a good team of staff headed by a branch manager to manage the branch “said Mbashu.

He urged sacco members in Mombasa to patronise the branch and market it positively by referring potential clients and next of kin who live in the coastal city to visit and open accounts in order to boost the institution’s operating capacity.

“We are pleased to announce that our audited financial statements show positive progress across all the key areas as we remain committed to transparency, trust and service to members” said the sacco chairman, adding that the society remained steadfast in discharging its core mandate of providing loans, advances and timely salary advances.

According to the sacco report and financial statements for the year ended 30 June 2025 the sacco assets stood at slightly over KSh4 billion more than the KSh3.84 billion in 2024.

Members deposits also recorded an upward swing to KSh 2.7 billion from KSh2.68 billion the previous year, while loans and advances to members stood at KSh2.9 billion.

Mbashu pointed out that the sacco was working on robust loan recovery mechanisms which had begun to bear fruits, citing the case of the Taita-Taveta county government which is a key client to the sacco.

“After we successfully petitioned the Taita-Taveta county assembly to intervene to help us recover monies owed to the county government, we have received a positive response from this key client,and we hope they’ll keep their commitment to settle the whole amount owed “said Mbashu.

The sacco chairman at the same time pointed out that the society remained committed to offering quality and It compliant services, emphasizing the fact that it is through digital innovation that the sacco will be able to keep abreast with changing global business practices.

Ends









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