Homa Bay boda riders launch Saccos, get Sh40 million from county
The saccos were launched by Governor Gladys Wanga
5mon agoROBERT OMOLLOCounties
The Commissioner of Cooperatives has challenged leaders of the various multi-billion shillings Savings and Credit Cooperative Organisation (Saccos) in the country to embrace new governance practices to enhance transparency in the sector.
Speaking in Nairobi, Commissioner of Cooperatives David Obonyo said a new bill requires those in positions of leadership in the various Saccos to serve for a maximum of two terms of three years each which translates to six years.
“At the same time, those seeking leadership in the various saccos should ensure they have integrity and safeguard savings accrued by the members,“ he said.
"They should desist from enriching themselves at the expense of other members and ensure the Sacco movement remains vibrant,” Obonyo said.
Obonyo observed that saccos are a special type of cooperative offering financial services with a focus on mobilisation of funds and provision of affordable credit to its members both owners and users.
Obonyo was speaking in Nairobi during the rebranding of Safaricom Sacco to Qona Sacco.
The rebranding marks a significant milestone in the sacco's journey of growth, innovation, and commitment to its members.
The announcement coincided with a special YouTube Premiere, watched by over 18,000 members across the globe, culminating in the unveiling of the Qona Sacco name and brand.
Founded in 2001, Safaricom Sacco began as a savings initiative for a small group of Safaricom employees.
Over the years, it has evolved into a robust financial institution serving diverse members from across Kenya.
With a current membership of over 18,000 and assets surpassing Sh11.5 billion, the sacco has consistently been a leader in providing financial solutions rooted in community, trust, and progress.
"This rebranding is not just about a name; it’s about a renewed commitment to our members," Qona Sacco chairman George Hunja.
“ Qona Sacco represents who we are today—a modern, forward-thinking financial partner ready to serve the evolving needs of our community. We grew under the wings of a giant, and now, we take flight together," Hunja said.
The Commissioner of Cooperatives (Nairobi County) Dolphine Aremo said Qona sacco’s rebranding is a testament to the dynamic nature of the cooperative movement in Kenya.
“It reflects a commitment to innovation, inclusion, and empowerment. Saccos like Qona are vital to the socio-economic fabric of our nation, providing not just financial solutions but also hope and opportunity to millions of Kenyans,” Aremo said.
On his part, the Qona Sacco Chief Executive Officer Joseph Njoroge noted the Sacco is more than a financial institution, it’s a community.
“We are here to empower, uplift, and support our members as they pursue their dreams. With a focus on technology, accessibility, and innovation, we are creating a financial ecosystem that caters to modern needs while staying true to our core values," Njoroge said.
