Tabasuri DT Sacco has officially crossed the KSh 600 million mark in total assets, signaling a period of aggressive expansion and heightened member confidence. The announcement was a focal point of the 37th Annual Delegates Meeting (ADM), where the Board of Directors, the Sacco Patron, and strategic partners gathered to celebrate a year of remarkable fiscal performance and institutional evolution.
Board Chairman Gilbert Atuga, presenting the Board of Directors report, painted a picture of a robust institution rapidly scaling its operations while maintaining strict financial discipline. With assets now standing at KSh 603 million, a 10.2% increase, Atuga emphasized that the Sacco is firmly on its way to becoming a premier financial tier institution in the region.
The success of the Sacco, however, was framed as more than just a matter of balance sheets. Dr. Paul Orina, the Sacco’s Patron and CEO of the Kenya Marine and Fisheries Research Institute (KEMFRI), provided a moving reflection on the institution’s roots. Displaying his original membership card, Dr. Orina recalled the early days when the founding members worked with “innocent” dedication to serve the nation.
“We worked innocently because we were serving a nation,” Dr. Orina remarked. “Becoming a CEO or a Patron was not in our minds back then; it resulted from that dedication.” This culture of service, he noted, remains the bedrock of the trust members place in the institution today, a trust reflected in the 22.7% surge in membership reported this year.
Robust Fiscal Performance and Risk Management.
The financial data presented by Chairman Atuga detailed a year of significant gains across all major sectors. Total revenue rose by 15% to reach KSh 83 million, while member deposits grew by 7.8%, totaling KSh 404 million. Loans to members also saw a healthy uptick of 11.7%, demonstrating the Sacco’s role in fueling the economic aspirations of its community.
A critical highlight of the report was the Sacco’s success in risk mitigation. The institutional risk factor has dropped significantly to 5.5%. Setting a bold target for the coming years, Atuga stated the Board’s commitment to bringing this figure below 2% by 2026. This stability was lauded by Guest of Honor Dan Kalani, Regional Manager for CIC Insurance, who noted that such indicators prove Tabasuri is a secure and reliable investment partner.
“All indicators are showing that Tabasuri is headed in the right direction, if not Singapore,” Kalani remarked, comparing the Sacco’s organized growth to the rapid development of global economic hubs.
The Vision for Permanent Growth: “Outside the Box”
Despite the celebratory tone, the leadership issued a collective challenge to avoid complacency. Both Chairman Atuga and Dr. Orina emphasized the need for the Sacco to move from a tenant-based operation to property ownership.
“We must start thinking outside the box, very far away from the box,” Atuga urged the delegates. The acquisition of land and the development of permanent facilities were identified as top strategic priorities. Dr. Orina echoed this sentiment, sharing that his “greatest prayer” for his tenure as Patron is to see the Sacco break ground on its own headquarters, solidifying its presence and providing long-term value to its members.
Enhancing Member Welfare and Digital Security.
As the Sacco grows, so does its commitment to the holistic well-being of its members. Mr. Kalani introduced a suite of upcoming welfare solutions from CIC Insurance designed to meet evolving needs, including specialized medical insurance, cybersecurity protection for the Sacco’s digital assets, and comprehensive annuity plans for retiring employees.
“Together we can strengthen the financial well-being of your members, safeguard their future, and build a legacy of prosperity for the wider community,” Kalani said, reaffirming the partnership between the two institutions.
Leadership by Example.
To catalyze this next phase of growth, Dr. Orina announced he would be increasing his own monthly contributions, setting a benchmark for the membership to follow. He maintained that his “open-door policy” remains in effect for the Board and members alike. “If you needed a patron who can be supportive, you have the patron before you,” he concluded.
The Sacco remains fully compliant with all Sacco Societies Regulatory Authority {SASRA} requirements, maintaining strong capital adequacy and liquidity ratios. With a clear roadmap toward 2026, a surge in membership, and a leadership team dedicated to “outside the box” innovation, Tabasuri DT Sacco is positioned to remain a cornerstone of financial security and prosperity for the Coast region and beyond.
