Kenya’s largest Sacco, and the second-largest in Africa in asset base, Stima Sacco has recorded tremendous growth even as it prepares to mark 50 Years’ Anniversary this week.
The Sacco that was started in 1974, boasts of growth, now serving not only clients from energy sector, but across the various sectors.
With a total 12 branches now opened across the country, Nakuru being among the counties of operation.
In Nakuru County, Stima Sacco opened doors to members in October, 2013.
In an interview on Monday September 23, 2024 during the launch of numerous activities to Mark the 50 Years’ Anniversary, Stima Sacco Nakuru Branch Manager John Nyambu revealed that good governance structure, investment in technology, highly qualified management staff, Board and supervision committee is what has propelled Stima Sacco to higher level.
According to Nyambu, some Saccos have collapsed due to poor governance, but Stima Sacco has continued to soar higher.
He noted that already Stima Sacco is now having members even from small scale and Medium Enterprises including Mama mboga and Bodaboda operators.
At the moment, Stima Sacco has 211,000 membership with 12 branches across the country with financial assets now standing at 61 billion shillings and very good returns to members.
“Our success can be attributed to our governance structure. We serve clients across all sectors,” he stated.
According to Nyambu, the Sacco has three types of accounts for membership; Prime Account, Alpha Deposit Account and Share Capital Account.
It should be noted that Stima Sacco continues to support members in realizing their financial goals, whether it be through loans for home ownership, education, or business expansion.
“Our financial performance has been very strong ensuring sustainability and enables us to reinvest in our members and communities,” stated Nyambu.
The Stima Sacco Nakuru Branch Manager while noting that the government has played key role in supporting Saccos in the country, urged Parliament to expedite and pass the Cooperatives Bill.
This, he said will enable better environment for Saccos impacting positively on the livelihoods.
“I want to laud the government for the support towards the Saccos. However, there is need for Parliament to expedite the Cooperatives Bill,” he stated.
While noting that the financial industry is evolving faster than ever, he asserted that the Sacco was evolving with it.
As Stima Sacco marks 50th Anniversary, Nyambu revealed that several activities have been lined up within the 12 branches with climax being national celebration in Nairobi on October 12, 2024.
In Nakuru’s Branch, already roadshows were flagged off on Monday September 23, 2024.
On Friday September 27, 2024, the Nakuru Branch will take part in a tree planting exercise.
The Branch will also hold a Fun Day event at the Nakuru ASK show grounds on Saturday September 28, 2024.
“We urge members and public at large in Nakuru to join us for these activities as we mark 50 Years’ Anniversary,” stated Nyambu.