Harambee Sacco Society Chairman Macloud Malonza has said the society has a strategic focus to grow its membership and mobilise deposits.
Malonza said the survival of any cooperative institution is pegged on its annual recruitment of new members.
" The board and management are putting every strategy at its discretion to ensure that we hit our 2025 target of 86,502 happy members," Malonza said.
Malonza was speaking on Monday during the Harambee Sacco 52nd annual delegates meeting in Nairobi where he gave the annual report and financial statements for 2022.
Currently, the Sacco has up to 70,586 members and is targeting 15,000 members by 2025.
Malonza said the two goals, membership growth and deposits mobilisation, will help sustain the Society's growth trajectory going forward.
"Harambee Sacco was able to inject 6,276 new members up from 4,398 in 2021," he said.
He said the society has created a Membership Relationship Section whose core mandate is the member, from inception to exit.
Malonza said the society broke its own target ceiling of Sh4 billion to hit an all-time high of Sh5 billion.
"From Sh3.2 billion in 2020, the society moved a rung higher to hit Sh4. 2 billion in 2021, but the continuous trend didn't stop there, Harambee Sacco shuttered its revenue collection history with an all-time high collection of Sh5. 01 billion in 2022," Malonza said.
