A Trailblazer in Financial Security and Empowerment
Nyati Sacco’s excellent governance and integrity have been recognized with the prestigious Champions of Governance (COG) Award, ending the 2023 year on a high note.
Its commitment to good governance and prudent management, as well as its proven track record of providing financial security for Kenyans over the past 46 years, make the Sacco a clear choice for this honour.
The Sacco’s impressive achievements were recognized at the awards ceremony. It was awarded as the most improved organization, while Mr. Charles Mbuvi, the Sacco Board Chairman, received the second runners-up COG Chairman of the Year Award. These accolades are a testament to the Sacco’s commitment to excellence and dedication to serving its members.
Nyati Sacco’s success is evident not only in its COG Award win but also in its ranking among the top-performing Saccos in the country.
During the national co-operative fete on the Ushirika Day celebration, Nyati Sacco was ranked among the best in capitalization DT Saccos countrywide.
By providing a range of cost-efficient financial services, the Sacco has continually improved the socio-economic well-being of stakeholders. Its focus on collaboration, integrity, innovation, and excellence has made it the preferred Sacco of choice.
Nyati Sacco has been defying all odds by achieving double-digit percentage growth in its key market portfolios in a challenging business environment. Even more impressive, it declared one of the highest dividend rates in the country at 21% on share capital in 2023, and members enjoyed an outstanding 11.3% interest rate on their deposits. With its asset base expected to surpass Ksh5 billion, Nyati Sacco is poised to join the Tier 1 category of the largest Saccos in Kenya, cementing its position as a market leader.
Mr Charles Mbuvi, the Sacco Board Chairman, emphasized the importance of maintaining good governance practices while enhancing member experience and satisfaction. He also encouraged members to enroll their family members in order to realize their full potential.
Nyati Sacco is committed to staying focused on its mission and vision to remain relevant in today’s dynamic business environment.
With the input of the Board of Directors, the Sacco’s management, staff, and other stakeholders have developed a strategic plan to drive the desired growth.
The Sacco has made significant progress in human resources capacity and productivity, technology optimization, and improved customer service. Other accomplishments include better management of loans, strengthening of FOSA, increased risk management, and Prudential Financial management to boost returns on members’ investments.
The Society’s CEO, Dr. Julius Bett, is determined to drive growth by ensuring that the Sacco stays true to its purpose and remains focused on its mission and vision.
Nyati Sacco is committed to enhancing its assets and improving members’ return on investment, which is why it is constructing Buffalo Plaza. With the aim of providing all financial services under one roof, the Sacco has partnered with CIC Insurance to launch insurance products that cater to members’ insurance needs. These products include general insurance, motor insurance, micro-insurance, pensions, medical insurance policies, and life insurance products for groups. The sale of these policies will enable the Sacco to earn commissions, which will strengthen its balance sheet and allow it to fulfill its core mandates, including issuing loans in a timely manner.
To drive growth and be at the forefront of financial inclusion, Nyati Sacco is embracing ICT and innovation. It is keeping a close eye on emerging technologies that could improve efficiency in its operations and position it as a key player in the country’s efforts to improve financial inclusion.
Nyati Sacco has played a pivotal role in enhancing the financial welfare of more than 35,000 members. It is committed to its Corporate Social Responsibility and has an education sponsorship program. It also donates to the less fortunate in society and supports students’ education in prestigious schools such as Kenya High, Alliance High, Maranda School, Chogoria Girls High, Moi Girls High School-Eldoret, Mary Seat of Wisdom, and Bulimbo Girls.
Join the thousands of people who trust Nyati Sacco with their finances and experience the benefits of working with a proven leader in the industry.
