By BRIAN MUSYOKA
Winas DT Sacco Society has achieved remarkable milestones in the past year, cementing its position as a financial powerhouse in the region. The Sacco recorded tremendous growth in its asset base, which surged from Sh11 billion in 2023 to Sh14.4 billion in 2024, reflecting its steady upward trajectory.
The Sacco’s total income also rose significantly, climbing from Sh9 billion to Sh11 billion within the same period. This growth enabled the Sacco to release Sh744 million to its members in dividends and interest on deposits, marking a 16.5% dividend on shares and 12.5% interest on deposits.
“Today, Sh744 million has been injected into Embu’s economy through dividends and deposit interest. This is a testament to the strength and resilience of Winas DT Sacco as a financial giant,” said Board Chairman Robert Njue during the 48th Annual General Meeting at Moi Stadium, Embu.
The Sacco’s loan book expanded by Sh2.5 billion, closing the year at Sh11.9 billion from Sh9.4 billion in 2023—a growth rate of 27.2%. The chairman urged members to maintain a disciplined approach to savings, borrow prudently, and repay loans promptly.
One of the significant resolutions passed during the AGM was the shift in governance structure from an Annual General Meeting (AGM) to a delegate system. This change is expected to enhance representation and decision-making efficiency.
Membership growth was another highlight of the year, with the Sacco registering a 32.7% increase. The number of members skyrocketed from 13,047 in 2023 to 52,900, underscoring the trust and confidence the public has in the institution. “We urge our members to continue being ambassadors of the Sacco and recruit more members beyond our borders,” Njue added.
The Sacco’s CEO, Pauline Mwaniki, attributed the growth to strategic expansion and innovative service delivery. Winas DT Sacco has extended its footprint into Machakos and Makueni counties, enhancing accessibility and bringing services closer to members.
“Our branch expansion has significantly improved service delivery and enabled us to tap into more business opportunities within the region. This has played a key role in driving our growth,” Mwaniki said.
She emphasized the role of technology in transforming the Sacco’s operations. Members can now make transactions—whether deposits or withdrawals—from the comfort of their homes, thanks to advanced digital solutions.
To further enhance efficiency, members approved the acquisition of a new core banking system. This state-of-the-art platform is expected to revolutionize service delivery, ensuring seamless transactions and member satisfaction.
Despite the achievements, Mwaniki raised concerns over taxation, urging the government to review policies that might stifle borrowing and business growth. “High taxation could discourage borrowing, which is crucial for business expansion. We call upon the government to reconsider these policies for the benefit of Saccos and their members,” she appealed.
As Winas DT Sacco celebrates its 48th anniversary, it continues to position itself as a beacon of financial empowerment, contributing to the economic transformation of Embu and beyond. The institution’s resilience, innovation, and member-centric approach have set it apart as a leader in the cooperative movement.
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