Kenya police SACCO Society has launched their sixth branch in Kisii which will be serving members in south Nyanza region.
The Sacco will promote co-cooperative enterprises for industrialization.
Speaking at Ufanisi Hotel, the chairman of the Kenya police Sacco society FOSA David Matengwa said the Sacco is aiming at improving financial solutions and improve service delivery to its members.
The chair noted that the Sacco is looking forward to open two other branches in Kakamega and Nakuru as they hope to increase the number of its members from 62,000 to 80,000 by the end of this year.
The SACCO which aims at making a profit of 35billion profit by 2019 which is a five year plan, is one of the leading sacco with a total asset base of over KSH 24 billion, a turnover of Ksh 3billion and a net worth of Ksh 6 billion as at December 2017.
“We are looking forward to establish good management system and also call the business communities to join the Sacco,”he noted.
Mr Matengwa said that Kenya police Sacco has effectively achieved diversification and financial inclusion through network targeting their members in different regions.
“ By doing that this will promote the Saccos’ market share, capital base , loan portfolio and profitability,” he said.
The Chief executive officer Solomon Atsiaya said the Sacco upholds good governance and successful projects across the county.
Mr Atsiaya noted that the Sacco aims at a positive impact to the society whereby performance and service delivery should be strong pillars.
He stated that the Sacco is best placed in realization of vision 2030’s targets of increasing annual national savings by 10%.
Deputy Governor Joash Maangi who said that the Sacco will stimulate growth development and visibility in the South Nyanza region.
“The achievement has been realized through hard work, prudent management practices, team work and the confident of the members in the society,” deputy governor said.
Mr Maangi noted that the state department for cooperatives will continue to create an enabling environment for the co-cooperative movement to prosper.
He also noted that as the county government they welcome them to kisii county by promising that the county will provide conducive environment.