By Correspondent
Tabasamu Sacco is targeting to grow its asset base above a billion marks by the end of 2022.
The Sacco that posted 11.5 per cent turnover growth in Financial Year 2020 has an asset base of Ksh 877 million currently. Its Board of Directors, Chairperson Felister Mbaika Mutisya says all measures are in place to ensure all set goals are achieved.
The Sacco has become synonymous with development in the coast region. It has made an enormous success in empowering its members to achieve their development goals, turning their dreams into reality.
Last year, members received over Ksh 363 million as loans to support their development aspirations. Through prudent leadership, Tabasamu Sacco shrugged off the Covid-19 pandemic adverse effects on the economy to register excellent financial performance, with total deposits increasing by 11.3 per cent to Ksh536 million.
The Sacco has developed and designed tailor-made products and services which are enabling members to improve their livelihoods. With a steadily growing membership that stands at over 5,200, the Sacco management has ensured that member’s needs and demands are well catered for.
Its loan products are particularly popular with members since they attract competitive interest, and processing does not delay. In addition, Tabasamu Sacco loans are fast and affordable in a nutshell, ensuring that members get instant cash when they need it most.
The Sacco has scaled up its technology use in all operations, ensuring that members get reliable, efficient and secure services through a digital platform.
The Sacco was registered in 1977 and has grown in leaps and bounds to become one among many celebrated co-operatives in Kenya.
Since 2014, the Sacco has been offering deposit-taking services with the licensing of the Sacco Societies Regulatory Authority (SASRA). In addition, the Sacco provides a wide range of products through its Front Office Savings Activities (FOSA). The Deposit-Taking Sacco draws its members from teachers, government ministries, parastatals, non-governmental organizations, and the private sector.
