Hazina Sacco has commissioned a Sh600,000 water project at Kidinye Dispensary in Vihiga County while launching a countywide financial literacy programme aimed at empowering members and expanding financial inclusion.
The two-day outreach programme saw the Corporate Social Responsibility (CSR) project commissioned at Chango Village and a members’ education forum held at Praise Centre in Vihiga Sub-County.
County health officials said the water project was initiated to address a long-standing water shortage that had prevented the dispensary’s maternity wing from becoming operational.
Mama Agnes Lugali, one of the founders of the dispensary, said residents had endured decades of water scarcity, forcing them to fetch water from distant sources. She said the installation of piped water had brought relief to the community and paved the way for improved healthcare services.
Vihiga County Executive Committee Member for Health, Dr. Nicholas Kitungulu, said Hazina Sacco financed the construction of a comprehensive water system comprising a 7,500-litre elevated storage tank, a ground reservoir, and an electric water pumping system.
Dr. Kitungulu said the county government would immediately operationalise the previously idle maternity wing, noting that the facility is expected to serve more than 700 patients daily from Chango Village and neighbouring areas.
He commended Hazina Sacco for complementing the county government’s efforts to improve access to quality healthcare, while acknowledging Sabatia MCA Pauline Amwata Engesia for championing the project.
Speaking during the members’ education forum, Hazina Sacco, National Chairman Evans Kibagendi, said Vihiga County had been deliberately selected to launch the Sacco’s biennial financial education programme.
Kibagendi said the initiative seeks to enhance financial literacy, educate members on available credit products, and communicate the Sacco’s expansion strategy.
He noted that Vihiga has close to 1,000 members out of the Sacco’s nationwide membership of more than 38,000, adding that the institution continues to maintain strong liquidity and steady asset growth.
He urged members to utilise loan facilities prudently to create wealth and invest in sustainable development projects.
Hazina Sacco, Chief Executive Officer, and CPA Dickson Okungu announced that the Sacco had expanded its common bond by opening membership to all Kenyans, beyond its traditional civil service clientele.
He said private sector employees, business owners, youth entrepreneurs, retirees, and Kenyans living abroad are now eligible to join the Sacco.
CPA Okungu said new members are required to pay a registration fee of Sh1,000, contribute a minimum monthly deposit of Sh1,000, and remit Sh200 monthly to the Sacco’s benevolent fund.
He explained that salaried members become eligible for loans after one month of consistent contributions, while non-salaried business members qualify after a four-month assessment period.
The CEO added that members can access loans of up to six times their accumulated deposits through digitised mobile banking platforms that facilitate instant loan applications, approvals, and disbursements.
On asset quality, CPA Okungu said the Sacco’s Portfolio at Risk stands at only two percent, well below the industry regulatory benchmark of five percent.
He said the institution prioritises financial counselling, loan restructuring, and engagement with guarantors to assist members facing repayment challenges instead of resorting to punitive measures.
Sabatia delegate Harrison Madegwa, who has been a member since 2013, said the Sacco has consistently delivered attractive returns to members, citing last year’s 12.8 percent return on deposits.
Madegwa encouraged residents, small-scale traders, and youth groups in Vihiga County to join the Sacco, saying its 12 per cent reducing-balance interest rate offers affordable credit compared to commercial banks.
The Sacco announced that following the Vihiga outreach, the nationwide members’ education and recruitment campaign will continue in Kakamega, Lamu and other selected counties as it seeks to promote financial inclusion and economic empowerment across the country.
By Victor Zedy
