Ollin Sacco has opened a new branch in Nairobi in a bold move aimed at growing its business and clientele and offering a wide array of quality financial services to the city population.
The new branch at the heart of Nairobi Central Business District along Koinange Street at Rattansi Building gives Ollin Sacco a significant advantage in Kenya’s capital city, an important commercial and financial regional hub.
“This day will remain etched on our minds; opening the Nairobi office is a great milestone in our endeavours to be the first choice national Sacco. Our pledge to Nairobians is that we will offer better, unique and tailored financial products and services,” said Mr. Albert Kamau, Sacco Board Chairman.
Mr. Kamau noted that the branch location is strategic for business growth, affirming that the Sacco is ready to take the city by storm. “We are ready to take up the challenge of meeting the expectations of our Nairobi members and customers. The Board will offer full support to the staff to deliver the best of financial solutions to our members,” he said.
The city’s state-of-the-art office with a spacious banking hall adds to the Sacco’s trail of achievements. For more than 47 years, Ollin’s story has always been about innovation. As a leading financial institution, Ollin is a community-driven Sacco that empowers members with affordable financial solutions to enhance their social and economic well-being.
The Sacco brings a new experience of customer service and financial inclusion to Nairobi, intending to continue with its transformative agenda of socially and economically empowering members.
Founded in 1976 with the cardinal responsibility of providing quality and efficient financial services by faithfully mobilizing savings and prudently offering credit facilities for the socio-economic empowerment of members, the Ollin Sacco team is on a mission and transformational agenda that define its brand entity and future.
“Over time we have continued to implement our business model with gusto and temerity. We remain aware that we can no longer use old technics to fit the new emerging business environment and challenges. We are now focusing on positioning ourselves to withstand the new challenges and opportunities that are in the macroeconomy. This has enabled us to demonstrate significant improvement in our development,” said Mr. John Gathige, the Sacco’s Chief Executive Officer.
Over the years, the Sacco leadership has maintained financial prudence through thick and thin while innovation remains the driver of Ollin’s success, guiding the development of products to meet members’ diverse financial needs.
“Our focus of becoming increasingly agile, resilient and future-ready Sacco has helped overcome challenges in a volatile business environment,” said Mr. Gathige.
Ollin, which means All in, is licensed and regulated by the Sacco Societies Regulatory Authority (SASRA) and is a Tier 1 Sacco credited with starting the first FOSA in Kenya and Africa in 1995. A Sacco of firsts, in many aspects, Ollin has continued to set the pace while sustaining a stable growth rate.
With an asset base of Ksh8.5 billion currently, the Sacco is targeting to hit Ksh10.5 billion at the end of 2023.
Its Strategic Plan 2021-2025 is anchored on five key pillars:
- Growth opportunity.
- Member customer engagement.
- Experience and relationships.
- Operations efficiency.
- Sacco’s capacity to execute strategies.
- Effective leadership and governance.
“Opening of the Nairobi branch is in line with our first key strategic theme – growth and opportunity. As Sacco leaders, we believe in our dreams as great leaders believe in theirs. Nairobi branch is a dream come true,” asserted the CEO.
The illustrious Sacco’s journey started in June 1976 when it opened the first branch in Kerogoya town. It later opened other branches: Mwea 2011, Kitengala 2015, Kiserian 2018, Kimana 2019, Kianyaga 2019, Narok and Thika 2021 and Kajiado 2023. Nairobi is the Sacco’s 10th branch.
The Culture of professionalism, resilience, good customer care and teamwork defines us at Ollin Sacco” – Mr John Gathige, CEO
In the quest to remain relevant in the financial market, Ollin has adopted alternative business channels, among them a mobile banking platform (Ollin Kash), Visa-branded ATM cards that are internationally recognized, agency banking, digital/online loans, which are applied and guaranteed online, and web portal among other. The Sacco has over 50 agents.
“Ollin Sacco has seriously embraced technology, transforming its way of doing business and drastically reducing the need for brick-and-mortar branches,” said Mr. Gathige.
He said the process of opening Nairobi started in 2022 after spotting a few gaps that needed filling and conducting a feasibility study. “The branch is strategically positioned and immaculately done to allow seamless flow of service delivery to our esteemed members,” he said.
Mr. Gathige noted that the branch’s target market includes tertiary institutions, universities, teachers, civil servants, private sector employees, business people, and county employees, among others. So far, over 250 accounts have been opened, and a total of 800 members have registered.
“We know where we are going, we have set targets for the Nairobi branch, it will be business unusual, we are ready to excel,” stated the CEO.
Mr. Gathige urged the new branch staff to embrace teamwork, complete and complement each other. “Do not compete amongst each other. Culture of professionalism, resilience, good customer care and teamwork defines us at Ollin Sacco,” he said.
Ollin Sacco is targeting an asset base of Ksh15 billion by 2025, total revenue of Ksh2.5 billion from the current Ksh1.2 billion, grow membership from over 24,000 to more than 50,000 active members and increase physical branch network to 16.
“Before the end of this year, we will have built a modern data centre to power the Sacco business model in line with our strategy of adopting technology to spur growth. The Board has set the right tone, offered support and leadership. We have a dream and believe in it,” said Mr. Gathige.
Ollin Sacco Nairobi branch was opened in a colourful event marked with prayers and dedication. The Chief Guest, Madam Catherine Martha Kiyiapi, Starehe sub-county Curriculum Support Officer (CSO), commended the Sacco for its creativity and innovation, strategies she said are requisite in the modern and competitive financial market.
“When you want to remain at the top as a Sacco, focus on better ways of serving members,” she said, adding that the Sacco’s presence in the city will improve residents’ social and economic welfare.
Mrs. Kiyiapi lauded the Sacco for embracing everyone and so much more, supporting teachers to live their dream life by upgrading their living standards.
“We are so grateful that you are the only Sacco that gives loans when someone becomes a member, particularly to new teachers, who are saved from the shame of borrowing from relatives and friends to settle,” she said.
She hailed Ollin as one among a few Saccos willing to continue with retirees, offering them financial support as they wait to process their pension dues. “Take note that if teachers trust you, then all others will,” she said.
From a humble beginning with the right strategic growth plans, Ollin has moved from strength to strength, trailblazing and setting the pace, a story the Sacco wants to replicate in Nairobi.
Its magnificent branch with offices refurbished to precision and finesse was dedicated to God in line with Proverbs 16:3. It opened the door with over 800 members eager to consume Ollin Sacco’s quality services.
Prof. Paul Kibicho, Ollin Sacco brand ambassador, said the new branch at the epicenter of Kenya’s business centre would enhance the Sacco’s brand visibility and accelerate its growth. “This Sacco is going places and headed to unprecedented levels of growth because it serves members in a very unique way. I am proud to be associated with a winning team,” he said.
“In a city where there are many Saccos, we want people to make Ollin their choice, I project within six or so months the branch will breakeven. The CEO’s philosophy is tantalizing which gives the Sacco a bright future.”
Prof. Kibicho said the Sacco had stood the test of time, and its rapid growth resulted from visionary leadership, prudent management and God’s blessings. “I am calling on anyone in Nairobi looking for a new banking experience to try Ollin Sacco.”
