Vision Sacco recently held its 45th Annual General Meeting (AGM), a milestone event that celebrated the institution’s remarkable journey of growth, resilience, and commitment to its members. The ceremony brought together the Sacco’s leadership, staff, and members, and was graced by the Nairobi County Director of Cooperatives, Dolphine Aremo, underscoring the strong partnership between Vision Sacco and the cooperative regulatory sector.
Governance, Integrity, and Strategic Partnerships
Chairlady Millicent Okatch set the tone of the AGM with a compelling address on the importance of resilience and integrity in steering the Sacco through a rapidly changing economic and regulatory environment. Highlighting the strategic collaboration with the Nairobi County Cooperative office, she reflected on the milestone of Vision Sacco opening its own offices—a step signaling the transition from tenant to self-determined financial entity. “The Director has been a very good friend of Vision Sacco,” she noted, emphasizing that strong partnerships are crucial to remaining informed and compliant with national standards.
In line with new regulatory reforms, the Chairlady commended the board and staff for meeting stringent SASRA directives, including the joint signing of financial statements by the CEO and Finance Manager. She also highlighted preparations for the upcoming delegate system as the Sacco approaches the 5,000-member threshold, ensuring that each member’s voice remains represented. “That is how we grow,” she reminded the assembly, urging members to leverage the Sacco’s tailored savings and loan products.
Regulatory Insights and the Road to Deposit-Taking
Dolphine Aremo reinforced the importance of transparency and compliance in her address. She noted that SASRA now requires a four-week scrutiny of accounts prior to AGMs and emphasized the need for mandatory signing of accounts by both the CEO and Finance Manager, alongside the Board, to strengthen internal accountability.
Madam Aremo also highlighted the broader reforms shaping the cooperative sector, including the reviewed Cooperative Act, formal term limits for board members, and the adoption of the delegate system for Saccos with over 5,000 members. She encouraged Vision Sacco members to look to Nairobi’s “billionaire” Saccos—such as Mwalimu National, Stima, and Police Sacco—as benchmarks for growth, while embracing digital integration and shared platforms to facilitate the Deposit Guarantee Fund. “The goal of these reforms is singular: to transform the lives of the members,” she said.
Celebrating Member and Staff Excellence
A key highlight of the AGM was the recognition of outstanding members, staff, and board leaders. CEO Hudson Alubisia led this segment, applauding those who have demonstrated exceptional financial discipline and commitment to the Sacco’s growth.
- Top Share Capital Saver: Philip Ochola, whose savings reached into the millions.
- Top Deposits (Members): Maxon Mwango, recognized for consistent deposit growth.
Top Recruiter: Simon Bor, celebrated for expanding the Sacco family.
Leadership recognition included Chairlady Okatch as the Highest Board Deposits Saver, Business Development Manager Kenneth Onyango as the Highest Staff Deposits Saver, and Marketing Executive Raymond Mboya as Top Staff Recruiter.
One of the most heartfelt moments came with the honoring of Nancy Kananu, affectionately known as “Mama Vision,” for 14 years of continuous service, symbolizing loyalty, dedication, and the enduring spirit that drives Vision Sacco.
Looking Forward
The AGM concluded with a forward-looking message: Vision Sacco’s future is built on active member participation, strong governance, and ethical leadership. The leadership emphasized that consistent savings, strategic use of share capital, and leveraging tailored loan products not only strengthen members individually but also secure the Sacco’s long-term stability and growth.
With a focus on digital integration, regulatory compliance, and member empowerment, Vision Sacco is positioning itself among Nairobi’s top-performing Saccos. By blending governance excellence, financial discipline, and a strong partnership with regulatory bodies, the Sacco continues to set a benchmark for the cooperative movement in Kenya.
