With a vast experience in financial inclusion, Hazina Sacco has demonstrated its innovative approach to savings and credit and Supporting change through member empowerment
Hazina Sacco retained its favourable ranking as the best-performing deposit taking Sacco in 2023, summing up the sound policy decisions formulated and executed at the board and management levels.
This was showcased during the Ushirika Day celebration in 2023 when it scooped the first position as the most efficient employer based Tier-1 deposit-taking Sacco in the country.
It retained the same trophy it won in 2022, a clear indicator of not resting on its laurels as it continuously improves on service delivery.
With a vision and mission rooted in efficiency, it also emerged as the third most efficient Sacco among employer-based deposit-taking Sacco in the country.
Another feather on its cap was emerging as the third best in credit management employer-based deposit-taking Saccos in the country, further demonstrating its determination to improve the country’s financial inclusion index.
By winning three trophies in 2023 compared to one won a year earlier, the Sacco has demonstrated a willingness to promote social and economic change.
This has been witnessed through a united approach to providing diversified financial solutions aimed at enabling members to achieve financial independence.
As a result, members have been able to invest in development projects and as well in businesses thus creating employment opportunities and contributing significantly to the country’s growth.
Ranked 13th wealthiest Saccos in the country by SASRA in 2022, Hazina Sacco has championed economic structures where individuals and enterprises can actively accelerate the country’s economic growth.
This has been witnessed through its steadfast approach towards mobilising savings where members can access capital to invest and create employment opportunities.
With a rich product and service menu, it has branches in Mombasa, Siaya, and Vihiga offices to ensure it boosts its reach to some of the unbanked and under-banked Kenyans.
In a bid to provide solutions on client demand, it introduced a mobile app to allow more members to use the services to benefit from savings and credit services.
What started many years ago is increasingly emerging as a behemoth with improved financial performance and profitability.
Due to improved profit margins for the year ended December 31st, 2022, the Sacco paid dividends on shares and interest on deposits amounting to KSh988.2 million.
Ultimately, this will trickle down to every sector of the economy and boost its growth prospects for years to come.
With a loan book of KSh8.82 billion and a deposit of KSh8.53 billion, Hazina is strategically taking a central place in enhancing the country’s financial sector to greater heights.
Under the board chairmanship of Mr. Evans Kibagendi and Mr. Dickson Okungu as the Sacco Chief Executive Officer, the launch of the 2023-2027 strategic plan will set the standards for success in the country.
The plan focuses on business growth, operational efficiency and customer service, human resource management and corporate governance.
Improved growth prospects are embedded in a robust Information communication technology investment to enable members to access its diverse products and services with a click.
According to the Sacco, more than 12,000 members are registered on its online portal where they can view and download statements and track loans and guarantorship.
Automation has remarkably increased, launched digital products and strengthened its cyber security policy to ensure the safety of members’ investments.
The 2023-2027 strategic plan is expected to provide impetus to improve its asset base from KSh12.76 billion reported by the close of December 31st, 2022.
Highlights of the plan include business growth, operational efficiency and customer service, human resource management and corporate governance.
The end result is to achieve customer satisfaction by providing unrivalled experience in a wide range of operational areas.
