Felix Ochieng has a clear vision for the growth plan of Siraji Sacco. When you meet him, the Chief Executive Officer is crisp, precise, and articulate about the strategic development plan for the Sacco, which he has led for the past nine years.
Dressed in a black suit, a striped shirt, and a matching tie, Ochieng presents himself as a man on a defined mission. Under his guidance and the leadership of the board, Siraji Sacco has made significant progress in financial performance and in transforming the livelihoods of its members. The Siraji brand is now well-established.
It is one of the Saccos licensed by the Sacco Societies Regulatory Authority (SASRA) to offer Front Office Service Activity (FOSA) within the country’s cooperative movement of over 20,000 organizations. Ochieng has expressed confidence in his ability to lead the Sacco to even greater heights.
“The Sacco has made major strides in growth. We have significantly contributed to enhancing our members’ social and economic welfare. This has been our joy,” he stated. However, he is not resting on his accomplishments, as his primary goal is to ensure that the Society builds a stronger asset base and improves its liquidity.
“We are working towards reaching a total asset value of one billion. We also aim to improve customer access by providing alternative service delivery through modern technological channels,” he explained.
Ochieng describes his successful tenure at the helm of Sacco management as a challenging journey that has left him wiser. He joined Siraji Sacco as a manager in 2009, coming from Macadamia Sacco in Thika, where he had worked as a bookkeeper, administrator, and manager.
“When I started, the Sacco had 900 members and only offered BOSA services. It operated from a small office at Home Grown Flower Farm, and the operational systems needed improvement,” he recalled. His primary task was to secure an Integrated Management System (IMS) and develop a strategic plan for 2009-2014.
“Change never comes easy; we had to overcome resistance from some members who were apprehensive about change due to fear of the unknown,” Ochieng said. Driven by a resolve to turn things around, the Sacco gradually began to show growth. In 2011, moving the Sacco from the farm to Timau town became essential. At that time, its asset base was Sh82.6 million, membership had grown to over 1,500, deposits reached Sh57.2 million, and the loan portfolio stood at Sh59.9 million.
“Despite the necessity to enhance our office operations and space, some members were concerned that their money would be at risk if we moved. It took considerable effort to convince them, especially when dividends were impacted due to the higher expenses associated with a modern office,” said Ochieng.
However, after expanding its membership criteria to include individuals from sectors beyond the flower farm, the Sacco experienced substantial growth, much to the members’ satisfaction. Currently, the Sacco boasts over 7,739 members and an asset base of approximately Sh346 million. It has lent out over Sh251 million to its members and holds deposits exceeding Sh182.5 million.
The Sacco has received multiple awards, including recognition as the best-compliant and best-governed Sacco in Laikipia County. In addition to enhancing members’ economic well-being, it is also actively involved in Corporate Social Responsibility initiatives, such as providing education for needy children within the county.
For Ochieng, transforming lives motivates him. “Siraji is a society that helps members save and achieve their dreams through affordable credit. Most of our members are low-income earners,” says the 39-year-old CEO, a married father of four.
Born and raised in Thika, he attended Kahuho Uhuru High School, where he attributes the development of his leadership qualities. He later joined KCA University, where he pursued a Certified Public Accountant course and a Bachelor of Commerce.
Under his leadership, Siraji Sacco has experienced remarkable growth, and all indicators suggest a bright future ahead. Founded in 1996, the Sacco has become a favored choice for residents from all walks of life.
“This is no small achievement; it has required dedication, hard work, and commitment from our capable board of directors and employees, along with the goodwill of our Sacco members,” said the CEO.
The Sacco is dedicated to delivering quality and affordable banking services and credit facilities to its members across the country. Recent developments have allowed the Sacco to expand its network, with a second office opening in Naivasha and a marketing office in Nanyuki.
It was the first Sacco to be licensed by SASRA in Laikipia County. Through its subsidiary, Siraji Housing, the Sacco provides modern housing options for its members and assists them in property acquisition. The Sacco is currently working on the second phase of its housing project, having successfully sold 40 plots during the first phase.
“Siraji Sacco takes pride in offering services and products that meet the needs of its members, allowing it to stay connected with its customers. In our current Strategic Plan, we are focusing on achieving much more in service delivery and improving livelihoods as we integrate modern technology across all operations,” Ochieng concluded.
