Gauging growth in saccos and chamas is essential for any organization, Mombasa County Director for Cooperatives Nelson Nyoro has said.
The County director while speaking during Bandari sacco 9th symposium and trade fair highlighted that the Chamas should be keen enough to look out for growth indicators such as growth in membership, growth in member deposits, increase in sales volumes, growth in revenues amongst others to know their Chama’s progress.
“If membership is growing, it’s an indicator of growth and progress and the vice-versa thus as chamas, you should be able to see if your organization is going forward or backwards and make the appropriate decisions. You should be able to ask yourself what you are not doing right,” Nyoro said.
He however highlighted various success factors to spur growth which he said, if effected will enhance growth in the saccos.
Meritocracy -This is the ability to develop merits in the Chamas. By enhancing meritocracy in the Chamas, the institutions will have the ability to consider and elect responsible and effective individuals who will propel the Chamas forward.
Chamas were urged to assign duties to individuals with interests of the Chamas at heart rather than electing them based on their presence in the sacco, age or experiences.
Pragmatism -It is the ability to align with the reality. The Chamas were advised to look at the beneficial factors which have propelled them forward and stick to them. At the same time, they were urged to ditch factors that pulled the Chamas backwards. The Chamas were expected to identify what works for them and leverage on that to foster consistent and positive results. For instance, an organization whose membership is declining should rethink and strategize ways to propel the sacco forward to foster progress.
Integrity – Integrity is essential for the Chamas to thrive. Without integrity, Nyoro noted that no particular Chama would thrive. Having trusted leaders boosts the confidence of members and ensures members of the safety of their finances.
The Chamas were also informed to make wise decisions that fosters the growth of their organizations. They were asked to stick to their core values and ideologies and avoid being swayed from their main focus or what has defined them as it may lead to their downfall.
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