Kenya is a country in East Africa with coastline on the Indian Ocean. Kenya has a warm and humid tropical climate on its Indian Ocean coastline. The climate is cooler in the savannah grasslands around the capital city, Nairobi, and especially closer to Mount Kenya, which has snow permanently on its peaks. Further inland are highlands in Central and Rift Valley regions where tea and coffee are grown as cash crops which are major foreign revenue earners. Population It currently stands at 48 Million. Capital The capital and largest city in Kenya is Nairobi. Official Languages Official languages in Kenya are Swahili and English.
• The vibrant and dynamic cooperative movement in Kenya – the strongest in Africa – is a key player in the economy, controlling about 43 per cent of Kenya’s gross domestic product (GDP). • The Cooperative Societies in Kenya employs more than 300,000 people, besides providing opportunities for self- employment to many more. Savings and credit societies (Saccos), the fastest growing sub-sector in the movement, have mobilized savings of more than Kshs 230 billion. • The cooperative movement commands 67 and 62 per cent of the total assets and deposits/savings, respectively.
OUR MISSION Mobilization of Savings & Provision of Credit for Social & Economic Empowerment in the Region and Beyond OUR VISION To be a Sacco of excellence in financial functions
Magereza Savings & Credit Co-operative Society ltd was started in 1971 and registered with the Ministry of Co-operatives. The Sacco is licensed by the Sacco Societies Regulatory Authority (SASRA) as a deposit taking Sacco.
Magereza Sacco members are majorly drawn from the Prisons department and other government ministries as well as private institutions. Currently, the Sacco membership stands at 20,595 members.
KSHS. SHARE CAPITAL 316,783,093 DEPOSITS 3,147,857,962 LOANS TO MEMBERS 2,896,322,652 REVENUE 539,598,766 TOTAL ASSETS 4,190,501,784 DIVIDEND PAYOUT @10% 25,162,743 INTEREST ON DEPOSITS 307,013,040
PRODUCTS AND SERVICES The following are products and services offered in both BOSA & FOSA SUPER LOANS * FIXED DEPOSIT A/C SUPERSAVER LOANS * HOLIDAY A/C NORMAL LOANS EMERGENCY LOANS JINUE LOANS SALARY ADVANCE
MAIZE FARMING
L egal framework such as Taxation, Sacco Society Regulatory Authority (SASRA)regulations, Competition from other financial players Loan defaulting i.e. Loan delinquency Poor saving culture of some members Poor utilization of loans by loanees Dishonest members Erroneous deductions Limited resources HIV/AIDs impact
Successful implementation of M-Sacco services where members can transact business through their mobile phones. Installation of new software where members’ transactions are updated on real time basis. Successful projects initiated by members through Sacco loans.
THANK YOU!!
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