This archive report was first published on 20 July 2021.
July 20, 2021 - In a bid to enhance its service delivery, Finnlemm Sacco has been investing in the capacity building of its staff and board members.
The Sacco's board chairperson, Rachel Ngondo, notes that the training has been instrumental in strengthening the organization's capacity, enabling informed and prudent decision making.
"The board has participated in leadership forums where they network and benchmark with leaders in other Saccos as well as the regulators," Ngondo explained.
Ngondo further noted that the Sacco has strengthened its board committees to oversee policy development, review, and implementation.
"The Audit and Risk Committee was incorporated to ensure board oversight in risk mitigation," Ngondo added.
She acknowledged the support of the Sacco's members, partners, service providers, and the State Department of Co-operatives, which she said had enabled the management to strengthen and grow the Sacco despite the difficult economic conditions experienced last year.
Ngondo expressed optimism about the Sacco's future growth, citing this year's performance as a demonstration of the strength of their brand as a going concern.
"I wish to extend our appreciation to all our members, our partners, service providers, and the State Department of Co-operatives without whom, we cannot be where we are today," Ngondo said.
According to Ngondo, membership analysis shows that the average age of the Sacco's members is 44, indicating an older membership compared to the mean age of 20 years in the country.
Ngondo noted that the Sacco has been taking initiatives to encourage more women and youth to join, with plans to implement more targeted activities for these groups.
