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Siraji Sacco Plaza Launch: Siraji Sacco realises members’ dream service delivery, thanks to “focused leadership”

“Tushirikiane Tuendelee…” a phrase that has kept the waters flowing at Siraji Savings and Credit Co-operative Society (SACCO), is what informed the dream of 88 employees at the horticultural farms in the Mt Kenya region. What started as a vision is currently supporting over 12,000 members drawn from different sectors of the economy.

The realisation came about on Friday, September 9, 2022, during the official launch of Siraji Sacco Plaza, the first ever in Timau, Meru county.
Presiding over the ceremony, Kenya Union of Savings and Credit Co-operatives (KUSCCO) Managing Director George Ototo appreciated the employer’s support to the society.
“I appreciate the support the Sacco has received from the employer from 1996 up to the point they got their own office in Timau. I thank them on your behalf,” said Ototo.
Ototo congratulated the Sacco board led by chairman Franklin Mwirigi and the management team steered by the Chief Executive Officer (CEO) Felix Ochieng.

Member value creation
Operating under the watch of the Sacco Society Regulatory Authority (SASRA), Siraji Sacco has been creating value for its members’ funds.
The KUSCCO MD noted that the Sacco’s compliance with the regulator has been significant in its growth and development.
“I know what projects do to institutions. I was a party to the drafting of regulations that also created the SASRA. One of the issues that we ensured we dealt with properly was situations where members’ funds are converted into brick and mortar and subsequently causing suffering to members. But you can see with the approval of SASRA you executed the building within the shortest time possible. Therefore, you deserve a clap with your team,” he said.
Ototo recognised the fact that the Sacco has been working closely with its members in the realisation of their dream and vision.
“The Sacco model is a very simple model but a slow model. If you want to move faster go alone and if you want to go far move with the people. Moving with the people involves carrying a lot of packages and therefore is a slow process.”

Chief-Guest-KUSCCO-MD-George-Ototo-and-CEO-Felix-Ochieng-during-Siraj-Sacco-Plaza-launch.


“We have the co-operative philosophy which basically talks of people helping people. The fact that the Sacco has 12,000 members, means they are compassionate about other people’s welfare,” added Ototo.
Sacco growth
He said Siraji is one of the societies he visited the most in the last 12 years since he became the Managing Director of KUSCCO.
“We have experimented a lot in terms of projects in this country. As we stand here today, there are projects which are still implemented with Siraji through the World Council for Credit Union (WOCCU) and the department of central finance fund.”
KUSCCO in collaboration with WOCCU and USAID initiated a Technology and Innovation for Financial Inclusion (TIFI) project to enhance SMEs funding in Kenya. It aims to enhance SACCO lending to SMEs through digital solutions and an SME Finance tool kit.
The first pilot study of the project was initiated in 2021 and Siraji SACCO became one of the societies piloting TIFI. The Sacco has been able to increase its loan portfolio via lending to SMEs.
Speaking during the 7th Annual SACCO Leaders Convention held in February 2022, Mombasa, Siraji Chief Executive Officer Felix Ochieng said the project enabled the Sacco to record zero portfolios at risk since its launch in September 2021.
“Initially we used a check-off system, making it difficult to give loans to non-salaried members. But through TIFI we can now service loans to all members, especially those running small businesses. We have issued 11 loans totalling KSh.4 million. Our portfolio at risk is zero,” said Ochieng.
Ototo challenged the Sacco members to cultivate the spirit of saving among the youth, who appear not to understand the Sacco model.
“Success is a slow process. If you have children who are above 18 years, start by giving them just KSh 500 every month to come and join Siraji. This will bring continuity and growth in membership,” he advised.
Good leadership

Laikipia County director of co-operatives, Rosemary Ngugi applauded the Sacco board for the milestone, saying “it is a reflection of focused leadership”.
“Ordinarily, Sacco Plazas are found in big cities like Nairobi. But Siraji has brought it to this quiet town of Timau. These are the fruits of determination, especially from the hard economic times of the COVID-19 pandemic. Not so many Saccos have been able to put up such an investment,” said Ngugi.
She challenged those who have not yet joined a Sacco to consider Siraji for their future financial growth and development.
“12,000 families can be able to educate and cater for their children. I urge those who have not joined any Sacco to join Siraji and realise your dreams,” she advised.

Her sentiments were backed by the Chair’s remarks on the progress of Siraji, since its inception in 1996.
“Welcome to the Siraji Sacco grounds. Where we are now, all members are proud of being on their premises. What you see here is the members’ vision. The Sacco started in 1996 with 88 members from horticultural based organisation, to uplift the wellbeing of one of them,” said Mwirigi.
In 2011, the Sacco changed its bylaws, opening a common bond, that included members from all corners of the economy; farmers, the business community, institutions, and individuals, among others.
It also opened a Front Office Service Activity (FOSA) running its operations under the regulatory watch of SASRA. The Sacco governance is based on a delegate system of governance and holds an Annual Delegates Meeting (ADM) to listen to members’ concerns and formulate policies.
Siraji Sacco has been increasing its branch network, bringing services closer to its members. The society has branches in Nanyuki, Naivasha, Isinya (Kajiado) and recent one in Kibirichia (Meru).
“This is the first Sacco in Timau to have a building which will go up to five storeys. The ground and first floor will house the Sacco offices. The second and other flows will be for renting other businesses. I challenge you as members of the Sacco to take advantage and be housed by this building in doing your business,” said the Sacco char.

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