The Kenya Police Sacco Society has opened a branch in Kisii to serve members in the Nyanza region.
Operating from the new Mocha Place Building at the heart of Kisii Town, it will be the pioneer Kenya Police Sacco branch in the Nyanza region.
In a speech read on his behalf by Deputy Governor Joash Maangi, Governor James Ongwae said the move by Kenya Police Sacco Society to locate a branch in Kisii affirmed the County’s position as an ideal investment destination.
Urging residents to patronize the Sacco’s products, the Governor assured the Sacco’s leadership of the County Government’s support through creation of an environment conducive to trade.
“On behalf of the Kisii County Government, I welcome the Kenya Police Sacco Society to Kisii. We have a robust cooperatives movement in Kisii with an annual turnover of KShs.3.1billion. Sacco’s offer an opportunity for people to come together, pool resources and undertake development projects that would have otherwise been impossible,” said Ongwae.
He congratulated the leadership of Kenya police Sacco for their stewardship which has birthed the launch of Kisii branch. He urged them to remain resilient to their vision of empowering members to enable them improve the quality of life.
With an asset base of KShs.24billion and 62,000 members, the Kenya Police Sacco has continued in its growth and expansion strategy with branches all over the country.
“You’re entering a vibrant market because Kisii controls 60 per cent of the money market in the Nyanza region, according to the Central Bank of Kenya statistics,” added the Governor.
Cooperatives Officer Dolphin Aremo said the Kenya Police Sacco had impacted positively on the lives of members. She challenged the members to patronize their products, a move that will increase their dividend rates. She urged them to bring in more members to enable them compete favorably with banks in the region.
“Good cooperative governance is the key to economic success. Last year, this Sacco was the third best country wide in risk management and we applaud you for that,” she said.
The Sacco’s National Chairman David Mategwa said Kisii branch was a product of their wider expansion strategy to bring services closer to members.
“The society continues to be responsive to the needs of members and stakeholders. As a society, we are ready to partner with the County to empower members through establishment of projects through the Kenya Police Investment Cooperative,” said Mategwa.