A Sacco survived the Covid-19 period through the introduction of an attractive digital platform that helped reach its customers affected by movement restrictions last year.
The management of Amica Sacco after it posted poor performances in the first three months last year following restricted movement in the country introduced the improvised digital platform that impacted positively to the organization.
Sacco Chief Executive Officer, James Mbui, said following the use of the IT they made a surplus leading to declaring of Sh170 million dividends to the members.
In the year, speaking during an annual general meeting, the CEO said Sacco was forced to employ the use of digital platforms like visa cards, the establishment of mobile banking agents, among other channels.
He said the management was forced to improvise best ways possible to remain in business and ensure full adherence to government directives of measures to stop the spread of the disease.
The loan disbursement to the customers in the year stood at Sh3.1 billion, up from Sh2.3 billion of the last financial year 2018/2019.
Sacco Chairman, Hezron Maina, said interests from subsidiary investments grew by Sh2 million from Sh122 million.
In the year under review, the sacco’s shares capital grew to Sh533 million from Sh462 million reflecting 15.4 percent growth as the asset base grew by 19 percent from Sh3.02 billion to Sh3.5 billion.
Henry Ruhara a business man urges the government to consider members in the new affordable housing projects to enable them acquire houses through Amica Sacco.
Maina Kamau, Chair Murang’a County Creameries lauded Amica Sacco for supporting dairy farmers through loans to enable them buy animal feeds and repay with time after selling their milk.