Port DT Sacco Sets Technology Milestones for Member Value Creation

Port DT Sacco Sets Technology Milestones for Member Value Creation, Support and Sustainability in 2024
By Sacco Trend Reporter
Port DT Sacco, one of the largest cooperative societies in Kenya, has made considerable growth in all phases since it started thirty years down the line. The Sacco operates under the regulatory watch of the Sacco Societies regulatory (SASRA) for Deposit-Taking (DT) business since opening the g common pound.
Speaking during the Sacco Special Delegates Meeting (SDM) which was held at the Sacco hall headquarters, Sacco chairman Alfred Jaka Konde said that, the total revenue as of August 31, 2023 was KSh 700.22 million.
Port Sacco’s total asset base last year had 10.7 per cent, an increase rising from KSh 7.4 billion to KSh 8.14 billion, the society reported sturdy performance despite the tough economic times, thanks to members’ patronage of its products and services.
Konde said that, Port Sacco has gone through many transformations in terms of strategic direction, leadership, products offered and the position in the market and also has put measures to address the challenges, and focuses on attaining the Sacco budget by the end of year 2023.
Mobile banking and member service
The former Mombasa port Sacco prioritises alternative banking channels including mobile banking for efficient member service delivery. The Sacco has two mobile APPS and USSD codes from different providers and a transactional member portal for seamless member transactions.
The Port Sacco board and the management team are working tirelessly to ensure that all loan applications and member transactions are done through mobile and all the operations are technologically run to improve efficiency as per the Port Sacco strategic plan of 2024 to 2028.
During the year under review, Port Sacco total turnover increased from KSh 968.02 million in 2021 to KSh 10.05 billion. The FOSA and BOSA operations recorded an increase of 12 per cent and 8.7 per cent respectively for the year ending 2022 compared to the previous year.
The Sacco recently rebranded in a bid to attain a new national face in an event which was graced by Co-operatives CS Simon Chelugui and his principal secretary Patrick Kilemi, among other sector officials.
Port Sacco CEO Dedan Ondieki expressed pride at the giant Sacco for taking a bold step, adding that rebranding marks a new chapter in the Sacco journey of uplifting the entire membership.
Members education
Port Sacco has been conducting Education to delegates to sensitise them on members’ investments and new products tailored by the society. The Sacco extended the instant loan to non-salaried members. This followed the society’s plans to introduce a new product that will enable members to enjoy overnight lending to sort out emergencies.
Ondieki revealed that the Sacco invested heavily in technology to streamline its progress and improve its overall efficiency.
“The society will continue to invest heavily in digital transformation and cyber security. We have established a contact centre to enhance customer experience for our members,” said Ondieki.
In this year’s ushirika day celebration, which was held at the national and national levels, Port Sacco was feted the best-managed Sacco deposit-taking Sacco, best in capitalized Sacco most improved DT Sacco and third-best Sacco capitalization country-wide.
In August 2023, the Sacco opened there ICD Nairobi branch offices, located at the inland container Deport Nairobi, targeting to recruit more members across the 47 counties. The expansion drive is a commitment to resolve and adapt to meeting the changing needs of Port Sacco members.
Ondieki thanked the directors for their visionary leadership that enabled society to take advantage of existing opportunities leading to the growth of its membership as well as deposit and loans portfolio.