Baraka Yetu Sacco has successfully empowered low-income earners living in Nairobi slums and small to medium entrepreneurs.
With over 11,200 members from all walks of life, the Sacco was established in 2003 to support poverty eradication. It has been committed to educating members on sustainable growth strategies to increase their resilience and ability to thrive in the face of economic difficulties.
The Sacco has been nurturing future-ready small and medium-sized enterprises that exhibit a strong capacity to overcome macro-economic challenges while generating long-term financial, economic, and social value.
“Our Sacco appreciates that our members need to invest in income and revenue streams that enable them to achieve sustained growth. This is why we have diversified our products to be agriculture, youth, and women-centered to ensure inclusivity of all members in empowerment,” said Mr. Isaack Gitonga, the Sacco Board of Directors Chairman.
He also appealed to the county government of Nairobi to allow members trading in dairy, poultry farming, vegetables, fruits, and all other assorted commodities to access city market stalls.
During the 21st Annual Delegates Meeting, Mr. Gitonga noted that the Society had reported significant growth in the financial year 2023, with total assets reaching Ksh 285.5 million. The Sacco loan and advances to members rose from Ksh 245 million in 2022 to Ksh 251.9 million in 2023. Overall, the Sacco recorded notable growth in revenue, memberships, deposits, and interest payouts to members.
“The excellent financial performance signifies our commitment to the realization of the strategic plan anchored on our vision, diversified products, and adoption of technology for enhanced operational efficiency and member experience,” said Mr. Gitonga.
