Bandari Deposit Taking Sacco has emerged one of the leading saccos in the coastal region and beyond. The DT Sacco has witnessed an upward growth in its performance fostered by its partnership with Chamas and other allies in the cooperative sector.
The tier one sacco’s Chief Executive Officer (CEO) Mr. Joseph Bee, while speaking during the 9th annual chamas symposium and trade fair in Mombasa, stated that the small investment groups commonly known as the chamas have played a key role in the growth of the sacco.
“The small groups, such as businesses, welfare groups and the women groups have fostered the growth of the sacco,” Mr. Bee said.
He further thanked the sponsors of the symposium for their unfailing support that has seen the society immensely grow. However, the CEO noted that Bandari Sacco has also played a key role in empowering its members through the annual educative forums conducted to enhance financial inclusion of all the members.
Currently the sacco has a consolidated deposit of Ksh. 308,856,876 a loan portfolio of Ksh.283,350,144 which contributes 3.5% of the total loan book, over 500 members holding the accounts and with loans which consist of various groups such as the welfare groups, women groups and the business people.
The groups have enormously contributed to the growth of the sacco with currently the sacco having an asset base of over 12.1 billion, a loan book of 7.9 billion and a total membership of 24,100.
Bandari Sacco has been a home to more than 5,000 Chama members who have benefitted from it financially and even education wise. For some saccos such as Nema and Ramogi saccos, have witnessed their own groups thrive from a low-level to currently running independently on their own and under the regulating body SASRA. Partnership with such upcoming saccos has pushed Bandari to the growth level it presently enjoys and at the same time raised the bar for the small saccos to follow.
The giant society however started the annual symposium program as a response to member groups whose desire was to deliberate on saccos issues in order to achieve their full potential.The annual meetings however have continually strengthened relationships between saccos and the chamas, linked chamas to other partners in the sector, increased networking and sharing of ideas and experiences among saccos and other partners, and also fostered financial governance in the saccos.
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