Giant Sacco opens doors to non-teachers in new changes

Masaku Teachers Sacco Sunday opened its doors to non-teachers after rebranding to KWETU Sacco. According to Sacco Chairman Julius Nzioka, the changes came after consultation with professional stakeholders with a view to diversifying the business of Sacco that currently has over 10,000 members.

Speaking at the event that was officiated by former Co-operative Minister Joe Nyaga at Mulu Mutisya Gardens in Machakos town, Mr Nzioka said the Sacco was now opened to non-teachers.

He added the Sacco's aim was to grow beyond Ukambani region and possibly register more than 100,000 new members. He said soon, new branches would be opened all over the country after completion of the logistical arrangements.

Chief Executive Officer Stanley Kyelenzi said since the new management took over leadership, major changes had been achieved such as an increase in loan volumes among others.

He assured the new members that their money would be in safe hands, adding the loan interest rates were the most favourable in the industry.

Nyanga praised the Sacco's management for good leadership, urging other Saccos to emulate the example. During the ceremony, hundreds of new non-teachers members joined the Sacco.