Caroline Chelangat Rotich awaited eagerly together with other Kenya Highlands Sacco members for the winner of the ultimate prize- Toyota Passo- in a grand raffle that was a culmination of a share drive campaign. They stood pensively. The tense was palpable. Who will be the winner? The question lingered in everyone’s mind.
Ms Chelangat was a hardworking and determined woman who had always dreamed of owning a car. She had been saving up for years, but with bills and other expenses, it seemed like a distant dream.
The announcer took his time before declaring the top winner. It was a moment of silence, everyone attentive. Then the speakers roared, and the winner was Caroline Chelangat. She couldn’t believe her ears. Her eyes lit up with joy as she hugged her friends, family and Sacco officials, grateful for the unexpected stroke of luck that had come her way.
She knew that this car would change her life, giving her the independence and freedom she had always longed for. She couldn’t wait to take it for a spin and explore all the places she had always wanted to visit. Kenya Highlands Sacco has transformed her life. Her investment in the Sacco’s shares came with great reward.
Everyone agreed the grand raffle was done openly and transparently, with many of the Sacco members pledging to buy more shares, which also earn high dividends annually.
Ms Chelangat was one of many winners. Kenneth Kipgeno won a brand new motorcycle, Geoffrey Rotich took home a dairy cow, Kenneth Rono won Ksh 10,000 in School Fees, and Jonathan Lelgo pocketed a Ksh5,000 cash prize.
Unveiling the winner, the Sacco Chairman, Mr Richard Mutai and the CEO, Mrs Alice Koskey, congratulated all the winners of the Grand raffle for their loyalty, trust and participation in the Share Drive 2023.
“The Share Drive campaign was a success. This is just a start; we will organize many more. We assure members that the funds raised will be utilized for the intended purpose to ensure they earn high returns from their investment with the Sacco,” said Mr Mutai.
Mrs Koskey noted that the exercise was transparent and attracted a high number of members from all branches. She assured members of good dividends at the end of the year. The Sacco is set to put up a modern building in Kericho town.
Kenya Highlands Sacco has tremendously grown to a giant financial institution with national brand recognition. By embracing ICT, the Sacco has made banking better for members who enjoy services in the palm of their hands by dialling *879# or *806# or using the Sacco App. Members also have access to their cash anywhere in the country using the Sacco link ATM cards.
The Sacco is well known for providing members with affordable loan products. It is for this reason that its loans and advances surged 35.40% to Ksh3.178 billion in the first eight months of 2023.
According to financial statements presented during the Sacco’s Special Delegates Meeting held at the ACK church in Kericho recently, the membership grew by 11% to hit 131,985 members. The Sacco registered an impressive 21.18% rise in total income during the period.
Big Win
The Sacco was named the best-managed agro-based Society during the 2023 Ushirika Day celebrations for its unwavering support for improved financial inclusion in the country.
During the co-operative fete, the Sacco walked home with four trophies, an improvement from the three it won in 2022. It was declared the best-managed deposit-taking Sacco under the agriculture-based category. It also retained its position as the third best in credit management countrywide and the second most efficient deposit-taking Sacco under the agriculture-based category. Besides, the Society bagged the second best in risk management for agricultural-based deposit saccos.
Agriculture is the country’s economic mainstay, contributing significantly towards employment creation and a source of revenue. The Sacco’s contribution towards the sector through member empowerment is thus critical in enhancing the nation’s economic role.
During the Champions of Governance (COG) awards in 2022, the Society was voted as the most improved organization, highlighting the Society’s leadership and management commitment to adhere to good corporate governance.
Through the visionary leadership of the Board of Directors and prudent management, Kenya Highlands Saco has remained a key player in enhancing regional financial inclusion.
With a new strategic plan where technology is a centrepiece, the Society is poised to become a major player in the country’s financial inclusion efforts.
