Pomp and color as Qwetu Sacco Voi branch shifts to prestigious Qwetu Plaza

Qwetu Sacco, one of the leading savings and credit institutions in Taita-Taveta County, has shifted its Voi branch offices to the prestigious Qwetu Plaza in the CBD.

The move signals a major milestone for the sacco which has been growing steadily over the years, and currently boasts a membership of over 50,000.

Addressing guests and Sacco staff during the official opening of the new branch, Sacco chairman Alfred Mlolwa said operating from their new office premises would be more convenient as it would save the funds previously used for paying rent.

“I wish to thank our members for being very patient as we struggled to put up this magnificent building. From now on, our members will enjoy services from this modern and spacious offices”, said Mlolwa.

He called upon financial institutions to desist from cutthroat competition which he said could be counterproductive in the long run.

“The area our building is located is like the treasury squares in other big towns since all major banking institutions have branches within this vicinity. Our roles should thus be to complement each other, not competing unfairly” said Mlolwa.

The sacco chairman said new government funds meant to uplift SMEs and low income bracket businesses such as the Hustler Funds should be channeled through Qwetu Sacco.

“We have diverse and elaborate products catering for youths, women groups, bodaboda operators and the like so the “hustler funds” can be a major boost to our clients if channeled through our Sacco” he said.

Mlolwa pointed out that Qwetu had upgraded its systems into modern ICT facilities where clients can access services even from the comfort of their homes.

“Upgrading ICT facilities is key in any financial institution as it ensures fast, seamless and secure services and I am proud to say that Qwetu Sacco has not been left behind in this new development” he said.

Speaking during the event the guest of honour who is also the ACK Taita-Taveta diocese bishop Liverson Mngonda challenged investors and residents in the county to develop and nurture a savings culture to stand them in good stead in their sunset years.

“Most people suffer during old age because they failed to embrace a savings culture during their working years” said bishop Mngonda.

Currently, Qwetu Sacco assets stand at over Sh3.2 billion and projected to reach sh 3.6 billion in 2023.

Recently the sacco board proposed a growth of 12.5 per cent, equivalent to Sh 403 million.

Qwetu has also exhorted its members to rope in at least one other member each, which would double the Sacco membership to 100,000.