Ardhi Sacco is on an inspiring upward growth trajectory, displaying resilience in a challenging economic landscape. The Deposit-Taking Sacco reported a 12.6% increase in turnover, reaching Ksh327.1 million for the fiscal year 2024. This surge translated into improved annual returns for its members, with dividends of shares increasing by an impressive 16.1%, while interest rebates on member deposits had a notable jump of 10.4%. Members collectively pocketed over Ksh145 million in annual returns.
The Sacco’s total assets rose exponentially to Ksh2.63 billion, compared to Ksh2.4 billion in 2023. This robust growth underscores the Sacco’s steadfastness amid economic turbulence and challenges posed by non-remittance from certain employers.
Affordable Loans
An increase in lending to members fueled the compelling growth story, as the Sacco continues to offer innovative and affordable financial products tailored to their needs. Loans and advances soared by 8.9%, reaching an outstanding Ksh2.19 billion, while member deposits and savings rose to Ksh1.99 billion in 2024, up from Ksh1.83 billion in the previous year.
“Our core business revolves around facilitating savings and providing credit. Ardhi Sacco has consistently championed innovation, crafting products and services that adeptly meet our members’ diverse financial needs, all while ensuring high liquidity and stability,” said Mrs. Elinah Mwaiseghe, the National Chairlady the Society Board of Directors. She made these remarks during the Sacco’s 52nd Annual Delegates Meeting (ADM).
In its pursuit of excellence, Ardhi Sacco has unveiled new offerings, such as the Jazajaza facility and the Adhi mobile loan, enabling members to access instant loans conveniently and enhancing their overall financial experience.
“All our banking platforms are fully operational, allowing members to manage their accounts online and conduct transactions securely and conveniently. We have also partnered with Cooperative Bank to facilitate seamless access to funds from members’ FOSA accounts and enable easy transfers to other banks,” Mrs. Mwaiseghe added.
The Sacco remains committed to enlightening its members through comprehensive education and training programs held at branches and clustered units. Delegates also play a pivotal role in marketing the Sacco and addressing the evolving needs of its members.
In addition, the Sacco board has proactively reviewed and refined various policies to align its business model with the current market dynamics, ensuring continued relevance and competitiveness.
Ardhi Sacco’s operations are anchored on four strategic pillars: business growth, operational excellence, people and governance excellence, and customer service excellence.
“To maintain our competitive edge, we emphasize delivering exceptional service while adhering to all compliance requirements set by the regulatory authority. Leveraging technology has become imperative for us to optimize effective and efficient service delivery,” Mrs. Mwaiseghe stated.
The Society has implemented streamlined processes, resulting in enhanced customer satisfaction and employee engagement. Ardhi Sacco is firmly dedicated to member and community empowerment and wealth creation, guiding them to set and realize their goals for a prosperous future.
Mr. Bernard Mariga, the Sacco’s CEO, articulated their commitment to meeting members’ expectations and fulfilling their brand promise—Ardhi Kwa Ustawi.
“Our organizational culture is characterized by responsiveness, dynamism, and a strong customer focus. We deeply value every individual, recognizing that their unique experiences, talents, and perspectives foster a stronger organization and better serve our communities,” he said.
Regulated by the Sacco Societies Regulatory Authority (SASRA), Ardhi Sacco plans to open FOSA branches in busy, strategic counties, aiming to enhance convenience and accessibility for its members.
Madam Florence Wanguku Kaira, the Human Resource Manager at the Kenya School of Government, who graced the ADM as the Chief Guest, urged the Sacco leadership and management to ensure sustained growth through proactive advocacy and marketing of the institution.
“I commend the Sacco for its unwavering resilience amidst various challenges. Your tireless focus on serving the community and empowering members to transform despair into hope is truly commendable. You are indeed shaping destinies,” Mrs. Kaira said.
“To maintain our competitive edge, we emphasize delivering exceptional service while adhering to all compliance requirements set by the regulatory authority. Leveraging technology has become imperative for us to optimize effective and efficient service delivery.”
~ Madam Elinah Mwaiseghe, National Chairlady.
