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, the Sacco has grown from strength to strength with a membership of only 37 in 1986 to 16,612 by end of 2018. By December 2019, the Sacco had a total of members 17,919 out of which 14,710 were active while the rest 3,209 were dormant.
The name Mhasibu 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, and winning together values, we are always working towards excellence.
Our success has been fueled by our vision “To be a Sacco of Excellence among the best managed in the world” while our performance-driven spirit is felt everywhere, through our employees, competitive products portfolio, strong brand 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.