This archive report was first published on 4 August 2020.
August 4, 2020, marked a significant milestone for Neno Sacco, a cooperative that has come a long way from its humble beginnings as a welfare group for matatu operators in Embu County in the late 1990s.
Today, Neno Sacco is a reputable transport-based cooperative with a fleet of well-managed vehicles and various investments. As a savings and credit cooperative, it has a significant presence in the country, with a strong asset base and a loyal membership base.
According to Neno Sacco Chairman Peter Manga, the cooperative's journey began in 1998 when a group of matatu operators shared a common vision to grow wealth and manage their matatus jointly. The welfare team later formed a Sacco, which has grown by leaps and bounds to become the giant cooperative it is today.
Under Manga's leadership, Neno Sacco has expanded its membership base to include the general public, allowing anyone to save and obtain credit. This move has helped blow more wind into its sails, promoting its growth and development.
With 720 active members, Neno Sacco offers a range of loan products, including development, emergency, school fees, and quick fix loans. The cooperative has a strong financial foundation, with an asset base of Sh. 333 million and a loan book of Sh. 276 million as of December 31, 2019.
One of the key factors contributing to Neno Sacco's success is its sound and dedicated management. The cooperative has a nine-member board, with Manga as the chairman, and three supervisory committee members. The management team has been instrumental in helping the cooperative achieve its goals and expand its operations.
Through its investment arm, the Eastern Collection Multipurpose Cooperative Society, Neno Sacco has a fleet of three matatus. The cooperative also runs Imani Coaches Ltd, which operates a fleet of 11 buses on various routes, including Meru, Nairobi, Mombasa, and Mtwapa.
As Neno Sacco continues to grow and expand its operations, it remains committed to its core values of providing excellent service to its members and the community. With its strong financial foundation and dedicated management team, the cooperative is well-positioned to achieve its goal of becoming the leading Sacco in the country.
