Who is Mhasibu Sacco limited?
Great success comes only with great ambition – Jackie Chan.
Mhasibu is a reputable Savings and Credit Co-operative Society registered in 1986 under the Co-operative Societies Act (Cap.490) of the Laws of Kenya by the Institute of Certified Public Accountants of Kenya (ICPAK), out of the need to provide savings and affordable credit facilities to its members.
The membership has since opened to members of other professions, as per the common bond policy approved by members in the SGM meeting of 28th September 2019. In the last 34 years, We have grown from a paltry 37 in 1986, to 16,612 by end of 2018. As at December 2019, We had about 18,000 members.
The name Mhasibu is derived from the word Mhasibu, a Swahili word which means ‘accountant’. We pride in being a tier-one Sacco with an Asset base of over KEs 6 Billion. Driven by our purpose, promise, value and excellence.
Our success is attributed to our vision “To be a Sacco of Excellence among the best managed in the world”. Our performance-driven spirit is felt everywhere, from our strongest asset, our employees, competitive products portfolio, strong market positioning and digital presence.
(i) To promote thrift among its members by affording them an opportunity for accumulating their savings: and to create thereby a source of funds from which loans can be made to them exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for their mutual benefit.
(ii) To offer to the members, complimentary savings and credit services and other financial products and services as may be required by the members from time to time.
(iii) To ensure the safety and the soundness of the members’ funds through a Risk Management Program and insurance coverage.
(iv) To ensure the progress of its members by educating continuously on the proper use of financial services and investment strategies.