HARAMBEE DT SACCO LAUNCHES A SHARE-CAPITAL INITIATIVE

BY VICTORIA MOVINE


Harambee DT SACCO yesterday held the Annual Delegates Meeting to present the annual report and financial statements for the year 2023 at Safari Park hotel Nairobi.

The meeting which was led by the SACCO's chief executive officer (CEO) George Ochiri and its national chairman Macloud Malonza was aimed at bringing together it's member from all the parts of Kenya at the same time launching a share–capital drive that seeks to mop up the tune Ksh 4billion in a span of 2 to 3 years, giving a report on challenges faced by the SACCO, achievements, progress and the strategies need to improve its operations.
The national chairman Harambee DT SACCO Mr. Macloud Malonza addressing the delegates at Safari Park hotel Nairobi 

According to the national chairman Mr. Malonza, the share-capital drive will help the society reduce its reliance of external borrowings which last year stood at Ksh 3.5 billion and also buoy-up the society's liquidity position hence making a great saving especially when it comes to loan interest payment.


He further added that in the new year 2024 strategic plans, they will mainly focus on building the SACCO's working and institutional capital, growing its membership and digitalization in the SACCO.


The CEO Mr. Ochiri also added that in the new year strategy, they will also focus on member inclusion and exceptional member experience journey through financial independence and growth of members and salary accounts. He urged members to support the share-capital initiative for healthy liquidity and compliance.
The CEO Harambee DT SACCO Mr George Ochiri (left) in a picture with a delegate at Safari Park hotel Nairobi 


An election  to appoint another director for the replacement of Jacktone Akhama who is a retired director, was successfully done which resulted to the win of Luke Wanjala Muhindi for the vacant position.

Millicent Simiyu, the Vice chairperson Harambee SACCO also urged people to join the SACCO as she outlined some of the benefits such as taking a loan and acquiring assets through mortgage loans and more.

Vice chairperson Harambee SACCO Millicent Simiyu at the Safari Park hotel Nairobi

She also noted that besides it being a civil servants membership, the SACCO also allows the Small Medium Entrepreneurs (SMEs) to register for membership.

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