Fariji Sacco posted a 33.9 per cent growth in total assets from Sh 256 million in 2018 to Sh 343 million in 2019.
The Sacco also recorded a 24.4 percent in membership to reach 11,990 while the total loan portfolio rose from Sh 157 million in 2018 to Sh 210 million in 2019.
Announcing the result for the financial year 2019 during a Special Delegates Meeting held recently, the Sacco chairman Humphrey Njihia said the full year surplus grew by 61.5 per cent.
The Sacco was among many that were unable to hold this year’s general meeting due to the outbreak of Covid-19.
Muitaime noted that the Sacco maintained an upward trajectory amid hostile economic and political environment.
“The board therefore has developed a strategic plan for the next three years that will enable us to make choices for a better future of the Sacco. I appeal to you to continue urging our members to increase their minimum share capital from the current Sh 5,000 to the proposed Sh10,000,” he said.
Currently, the Sacco has four branches in Githunguri, Kagwe, Kigumo and Kimende towns.
The Sacco has introduced mobile banking and agency banking to better its service delivery.
The Sacco Board of Directors announced a dividends payout at the rate of 6.5 per cent and payment of rebates at the rate of 2.5 per cent for the fiscal year ending December 31st 2019.
