While speaking at the event Hon Gladys Wanga urged the members to remain faithful to the sacco by paying their loans promptly so that money is always available for others too to borrow.
It is important to note the following about the Homa Bay women Sacco:
1. This is the known sacco that has survived in Nyanza and is growing strong.
2. Membership. The sacco has a membership of 10,153 as at 31st DEC 2018 which is an upward trend from the 9,484 in 2017 with active membership of 6921.
3. Members deposits. Members have deposited Sh79,479,138 as at 31st Dec 2018, from Sh44,240, 319 in 2017.
4. Share capital. The sacco has grown from Sh2,856,545 at the end of 2017 to Sh3,678,781 at the end of 2018 which is an increase of 29%.
5. Performance Per Sub county. Mbita continues to record highest numbers in terms of membership, borrowing and repayments with Kendubay, Ndhiwa, Homabay Town , Kasipul, Rangwe, Magunga, Sindo, Kadongo, Olare also showing an upward trajectory.
6. Loans to Members. Homa Bay County Women SACCO continues to grant loans to members based on individual deposit contributions to the sacco and the following are the trends. 2018, the total loans disbursement were Sh 23, 123,660/=. Loans disbursement in January 2019 was 8,313, 490 with total loan since inception standing at Sh111, 636,022/=. This year alone the sacco has given loans in excess of 8 million and equally recovered 3 million from defaulters who remains a challenge for the growth of the institution.
7. Membership training. The sacco does membership training every year on better management of financial investments, tapping on the financial access to operate vibrant and robust SMEs which are key in wealth creation and contributes greatly to the Gross Domestic Product of any economy.
8. Partnerships. The sacco enjoys cordial partnership with NGAAF, Homabay County and WEF which continues to improve its financial base.
9. Achievements. The sacco has obtained land title deed at Arujo, Homabay town. There are plans to make it a special economic zone for the women and youths of Homa bay.
10. Repayment of loans. Currently done via M-pesa. No cash handling.