They are the top Cooperative SACCO in the continent, but this mark made by the Mwalimu Savings & Credit Cooperative Society Limited, also known as the Mwalimu National Sacco Limited, came with a huge price.’
According to Mr. Alphonse M Kaio (CPA), the Chief Executive, the price included professionalism, integrity, honesty, commitment to excellence and accountability.
Today, the Mwalimu Sacco, with a membership of 87,000 with over 40 branches spread across Kenya, are listed as the best performing cooperatives both in the region and entire continent -Africa.
The team of 12 trip members comprised of Board members and Management of the SACCO
The Cooperatives that participated will receive one-week leaders’ orientation starting with the 5 Coops Board members and Manager by the Skill Coop.
Kaio who met the Uhuru Institute Plant-A-CoopTree campaign winners, the Munaku Kaama Cooperatives Savings and Credit Scheme said patience, hard-work, and transparency are other aspects needed for prosperity. The team was visiting the Mwalimu SACCO top bosses at their Mwalimu Towers located at Upper Hill, Hill Lane, Off Mara Road in Nairobi as part of their four-day study tour to Kenya.
The nationwide campaign to plant trees was initiated by The Uhuru Institute for Social Development to among others address the abject poverty, and to help cooperatives commercialize the tree planting business.
The team of 12 included: Mr. Makumbi T. Jude, the Chairman Board, Mr. Lutaaya Lawrence, the SUPCO Chairman, Mr. Kabuye James, Treasurer, M/s Nakimuli Jacqueline, Secretary, M/s Nansalire Sarah, Manager, Mr. Mukopi Dominic, Board Member, Gwokyalya Elizabeth, Board Member, Mr. Mukasa Simon, Board Member, M/s. Nassolo Harriet, Accountant, Mr. Bagonza Boniface, Field Officer, Rev. Fr Mpoza Bernard, Member, and Mr. Lubega Ronald, member.
The team was accompanied to Nairobi by senior staff of the Uhuru Institute for Social Development led by the Chief Executive, Mr. Leonard Okello. Others were Mr. Denis Tukahikayo Ph.D. Technical Advisor, Mr. Sean Budeyo, the IT Manager, and Mr. Francis Lulahali, the Data Management Officer.
A registered cooperative from each of the mentioned districts was selected to compete in a national wide competition where the selected cooperatives were each given 500 grevillea tree seedlings after availing at least an acre of land. The growth and progress of the trees were closely monitored on a quarterly basis for a period of a year to determine the outstanding cooperatives.
The Mwalimu Chief Executive explained to the visiting team that Mwalimu Cooperative Savings & Credit Society Limited, also known as Mwalimu National Sacco Limited, but often referred to as Mwalimu Sacco, is a savings and credit co-operative society (Sacco) in Kenya, the largest economy in the East African Community.
“Mwalimu is an institutional Sacco, composed of the staff of the Teachers Service Commission (TSC), the TSC teachers in secondary and tertiary institutions, the TSC teachers in elementary schools, the staff of Mwalimu National Sacco Limited as well as the spouses of the above members, when formally, gainfully employed,” said Kaio.
He said the society is licensed and regulated by the Kenyan Government formed the body, the Sacco Societies Regulatory Authority (SASRA). “As of September 2018, Mwalimu Sacco asset base valued at KES 58 billion (USD$565 million).
CPA, Alphonse M. Kaio said determination and being focused was the reason for their achievements to date. He said SACCOs that are fueled by politics can’t thrive. “Our mission is to be a World Class Co-operative Financial Institution by mobilizing savings from our members and providing financial services to our customers at competitive rates,” said Mr. Kaio.
Mwalimu National SACCOs other top brass in attendance included; Elizabeth A. Okinyo, Head of Marketing, Research & Corporate, Mr. Ounza Jairus, the Head of BOSA/ Business Loans as well as the Head of ICT.
Kaio said, “The 87,000 members comprise of Class A members, who are drawn from the TSC Secretariat as well from the TSC teachers in secondary schools and Tertiary institutions spread across Kenya. “Our members are teachers with academic qualifications at the level of Diploma and above who are employed in education-related institutions,” he said.
Their deposits as of September was Kshs32 billion (USD$ 320 million) with an additional Kshs29 billion (USD$ 290 million) lent out as loans to members.