Jamii SACCO new CEO sets Sh8 billion assets target

By Safidah Njeri

In three years’ time, the incoming Jamii SACCO chief executive plans to grow the financial institution’s assets by 60 percent to KSh8 billion, up from the current KSh5 billion.

By deploying various product uptake and marketing strategies, CPA Daniel Achieng’ is also projecting to nearly double the society’s members to 45,000 from the current 24,000. With a strong asset base and a growing number of savers, the new CEO is confident that the loan book could easily hit KSh7 billion from KSh4.5 billion currently aided by improved efficiency in operations and the adoption of technology, Mr. Achieng’ told SACCO Times.

He added that the SACCO would continue training staff, equipping them with modern customer service skills to meet the needs of changing consumer preferences. With intense competition in the market, Mr. Achieng’ notes that the ‘customer is king’ and in an industry where the financial products offered are largely similar, a SACCO must differentiate by offering quality products through the best staff service.

“Jamii Sacco has grown due to the unwavering support from the members. We encourage our members to continue being good brand ambassadors and onboard their peers, friends, family members, neighbours, and co-workers. Jamii means family, and this is where we solve all your financial problems through loans at very competitive rates,” he said.

The Sacco draws 98 percent of her membership from the public sector but is growing her wings through aggressive marketing to attract savers from the informal sectors, as well as the micro and small traders’ segment that is largely unexploited.

Mr. Achieng’, however, pointed out that the new competition SACCOs were facing was from the international lenders who were penetrating the Kenyan market through the use of technology.

“We must be alive to the global changes in this business. We have competitors from across the globe, not only here in Kenya. We have lenders living as far as China, Russia, and the USA and they are giving loans to Kenyans. This effect of globalization must not be ignored,” he said.

Globalization, however, comes with attendant risks brought by