A senior head teacher at a local primary school, Mr John Ziro, is the new chairman of Kilifi-based Imarika Sacco Society Limited.
Mr Ziro took office in April 2023 after the retirement of Renson Ndoro. He has been in the teaching profession for the past 30 years.
He has also served on the Board of Imarika Sacco since 1992 on various committees.
Mr. Ziro joined Imarika Sacco after beginning his career in the teaching profession in 1990 as a member and became a delegate in 1992. He was a delegate until 2002 when he joined the board of directors.
Imarika Sacco was first known as Malindi Teachers Sacco before changing its name to Kilifi Teachers Sacco.
“I have also been a delegate at KUSCCO for the past 10 years as well as National Director at KETSA (Kenya Teachers Saccos Association), representing Coast and North Eastern Kenya,” said Mr Ziro during an interview with Co-op News.
According to Imarika Sacco’s strategic plan, the Society aims to grow its membership by 15 percent annually as well as increase members’ deposits at the same pace over the next 10 years. This will enable the Society to be self-sufficient and provide more efficient services to members.
“I desire to change the mindset of our members to move from net borrowers to net savers. The board also aims to improve efficiency from the current 40% to 30% as we concentrate on improving savings and members’ education while ensuring the services provided to members are top-notch. We also plan to reduce expenditures so as to be more efficient,” said Mr Ziro.
He gave examples of how Imarika Sacco has changed the lives of many members.
“I have a case of a member who used to earn only KSh 2000 per month, was employed by his brother and came from Ukambani to work in Mtwapa. When he approached me for help to raise his family, I took the opportunity to teach him how to save through Imarika Sacco. He now owns a Shop, a house, a plot of land, and several other businesses, courtesy of Imarika Sacco. We educate members on how to borrow and invest wisely. We are also using education forums to empower our members,” Mr Ziro said.
Imarika Sacco is one of the Saccos that support the Hustler Fund and has also been allocated funds to provide affordable housing to members.
The Sacco has designed several loan products where the Sacco constructs a house for those who qualify and meet the criteria. The Society also provides loans that members can use to improve the conditions of houses that they already own.
Members have an option of buying already built houses by linking with developers in such areas as Vipingo, Umaza, Ufa, and Malindi areas.
He said that while Cooperative Societies provide an opportunity for members to grow their wealth, several legal and regulatory issues need to be addressed to enable Saccos to move to the next level.
For instance, Saccos provide FOSA is supervised by SASRA but still has no access to the National Payments System. This means that Saccos cannot access cheaper credit facilities for members as the banks do.
“We are, however, encouraged by efforts made by the new Co-operatives Minister, to enable Saccos access the national payments system. We also have many Saccos, especially those that cannot hire consultants, that end up incurring huge tax bills,” said Mr Ziro.
He attributes his success in working for Imarika Sacco to the confidence and trust that he has established with fellow teachers, who are also members of Imarika Sacco. He also draws a lot of lessons from his father, a retired teacher, who encouraged him to join the Sacco upon being employed as a teacher.
His father used to remind him of his financial achievements and progress in life, including constructing his own house and taking me to school, using loans from a Sacco.
He said the Board and Management work together as a team and support each other, including fellow directors and senior staff.
“I maintain a low profile in Mtwapa, where I live with my family and participate in community policing to ensure the security of those living around me. I balance between work and family due to guts and a cool mind,” said Mr Ziro while concluding the interview, urging all who need to create wealth to save through a Sacco.
Imarika Sacco has six branches and several service centres located in Kilifi, Malindi, Mtwapa, Mariakani, Garsen, Ukunda, Bamba, Mombasa and Mpeketoni site office. The Society was established in 1972 and currently has more than 110,000 members across Kenya and the Diaspora.
