Imarika Sacco is committed to helping its members achieve their financial goals. Recent Sacco data shows that more members borrow to acquire land, houses, and pay school fees. To further support its members, the Sacco Chairman, Mr. John Ziro, advised them to invest in trade and manufacturing activities to generate more income for savings and grow their credit limits to expand their businesses.
In 2024, Imarika Sacco plans to focus on innovative and creative initiatives, including rolling out enhanced mobile banking solutions, Saccomembers’ portal, Sacco agency, and loyalty program, among other operational improvements, to serve members’ financial needs better. The Sacco also aims to increase its advance ceiling from Ksh 100,000 to Ksh 150,000, subject to eligibility, to enable more members to access more funds for their personal and business development.
The Sacco projects to grow its balance sheet by 18% to over Ksh 15 billion by the end of 2024. Additionally, its consolidated returns to members are expected to register a 12.65% growth, while deposits, loans, and advances are anticipated to grow by 14% and 13%, respectively. The Sacco is banking on innovative products and services to spur growth and uplift members’ livelihoods.
Over the years, Imarika Sacco has been growing remarkably by an average of 12% annually. Clara Chonga, Kilifi County CEC for Trade, Tourism, and Cooperative Development, noted that ICT was revolutionizing the business world and presented numerous opportunities to improve the efficiency of services provided to members. She urged the Sacco to leverage IT, artificial intelligence, and data analytics to better their services.
Imarika Sacco is providing its members with the best financial services and support. By investing in innovative products and services, the Sacco is committed to helping its members achieve their financial goals and improve their livelihoods.
