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April 19, 2018

Murang’a sacco sets up mobile banking platform to increase members, shares

Amica vice chairman Peter Kibebe, chairman Hiram Mwaniki and CEO Kames Mbui during an AGM held on Saturday.
Amica vice chairman Peter Kibebe, chairman Hiram Mwaniki and CEO Kames Mbui during an AGM held on Saturday.

Amica sacco in Murang’a is targeting the mobile banking sector to raise its members’ deposits and increase profits.

Chief executive James Mbui said the sacco has registered 14,000 people in its mobile banking platform Amicash.

It plans to increase the number to 70,000 members by the end of the year.

The sacco was established in 1990s by coffee farmers. It has re-branded to accommodate non-farmers.

Amicash will enable members carry out transactions in the comfort of their homes and businesses to decongest banking halls. Members have deposited Sh4 million through Amicash since it was established last year.

The sacco has introduced Amicash loan, which gives registered members up to Sh20,000 through the mobile phone.

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