Wakenya Pamoja Sacco Society Limited, a Savings and Credit Cooperative organization in Kisii County, has shown impressive growth, expanding its core capital from Sh600 million to Sh1.7 billion over the past 12 years. The Sacco has a membership of over 130,000, primarily consisting of coffee and tea farmers in the Gusii region, along with some businessmen and pensioners.
According to Kenya News Agency, Speaking at the Sacco’s annual general meeting, CEO Isaac Omwenga highlighted the positive trajectory of Wakenya Pamoja Sacco (WPS) and its plans for regional expansion. Omwenga explained that WPS supports farmers of all sizes, facilitating income growth and providing credit access to micro, small, and medium enterprises. He encouraged members to increase their savings to enhance borrowing power and raise the Sacco’s core capital. Despite challenges like increasing default rates attributed to economic hardships and low cash crop proceeds, the Sacco has seen advancements in mobile banking, which CEO Francis Ayieko noted has improved transaction rates. Ayieko also acknowledged the competitive pressure from other Saccos in the region. Wakenya Pamoja Sacco, established in 1976, became autonomous in 1992 and was licensed for deposit-taking business in 2011. The Sacco is governed by a board of directors and various committees.