50TH ANNIVERSARY CELEBRATIONS IN STYLE
Hazina Sacco marks its 50th anniversary, having achieved tremendous achievements in transforming members’ livelihoods, excellent service delivery, and exemplary growth.
The Sacco has won numerous accolades for various milestones and is among the country’s well-managed co-operative societies regulated and licensed by Sacco Societies Regulatory Authority (SASRA).
Its latest financial statements indicate the Sacco has an asset size of above Ksh9 billion, a loan portfolio of Ksh7 billion, and an annual turnover of Ksh1 billion.
The Sacco that was licensed to conduct deposit-taking business in 2012 by SASRA has a membership of more than 21,000.Â
“In the 50 years of Hazina Sacco existence, it has invested exceedingly in Information Communication Technology, Human Resource Development and Branch Network,” said Agriculture and Co-operatives Cabinet Secretary Peter Munya.
Hazina Sacco Board of Directors Chairman Mr. Evans Kibagendi noted that they are delighted in the achievements of the Society 50 years since its inception.Â
“This is indeed a significant milestone that we would like to celebrate with our delegates and members. We have lived up to the aim of our founder members who envisioned a Sacco that will provide quality and efficient financial services by effectively mobilizing savings and administer credit prudently for their socio-economic advancement,” he said.
He noted that the Society had maintained an upward growth trend in all critical parameters, including high annual returns t members inform of dividends on shares and interest on deposits.
“We have maintained an average of 10 percent rate on interest on interest on members’ savings and deposits and 18 percent on dividends payout in the last five years,” he said.
“Adopting key innovations such as mobile banking has changed how we do business. About two years ago, we launched Hazina Sacco-CloudPeasa, our M-banking platform, which allows our members to access dividend advance product among other services,” he added.
The Sacco Chief Executive Officer, Mr. Dickson Okungu, said Hazina Sacco’s growth is anchored on aggressive growth of membership, 15 percent annual revenue growth, efficient cost management, improving staff welfare, and enhancing customer experience. Â
About Hazina Sacco
Hazina Sacco Society Limited is a nationwide Deposit Taking Sacco established in 1971 and registered under the Co-operatives Societies Act (Cap 490) of the laws of Kenya. Hazina Sacco is regulated by Sacco Societies Regulatory Authority (SASRA). Our main objective is promoting thrift and savings amongst our members, thereby creating a source of loanable funds.
Initially, the Society drew its membership from the then Ministry of Finance and Planning. Subsequently and in line with Sessional Paper No. 1 of 1986 on ‘Economic Management for renewed Growth’ on liberalization of the economy, the Society opened its common bond to allow membership from other ministries, Parastatals, County Governments and Private Sector.Â
The Society provides various services through Back Office Services Activity (BOSA) and Front Office Savings Activity (FOSA).
Vision: To be a leading Sacco in the provision of financial products and services.
Mission: To provide prompt, quality, and efficient financial services through effective mobilization of savings and prudent administration of credit for socio-economic advancement of members.
