The new headquarters for Biashara DT Sacco in Nyeri town. Photo/PAUL WANJIRU
By WILLIAM MUCHIRI
Biashara DT Sacco yesterday officially opened an ultra-modern building as its headquarters.
During the inauguration, Sacco chairman Joseph Njamuku reflected on the organization’s journey, acknowledging the challenges they’ve faced since registration but expressing gratitude for overcoming them.
“The journey for Biashara Sacco has been a bumpy one, but God has helped us overcome all the hurdles,” he said.
He highlighted some of the Sacco’s significant milestones, noting, “Since opening our FOSA at Rware Building in 2006, we have established 14 branches, 4 satellite offices, and more.” The Sacco has also contributed to job creation, with the number of staff members growing from 12 in 2006 to 290.
Since the groundbreaking of the Sacco’s Head Office on June 26, 2023, the organization has been guided by a five-year strategic plan.
The Sacco’s asset base has expanded from KSh31.5 million in 2006 to KSh3.49 billion today, while the loan book has grown from KSh28.5 million to KSh2.9 billion.
The chairman emphasized the importance of collaboration, quoting an African proverb: “If you want to go fast, walk alone; but if you want to go far, walk with others,” He added, “We believe in partnering with like-minded institutions that add value to Biashara Sacco.
Many institutions come to benchmark with us, and we also seek partnerships.”
Reflecting on the construction of the headquarters which has taken about 14 months, he said, “We started this project without knowing what challenges we might face in securing the resources needed to complete the building. But through the grace of God, we never lacked the finances to pay the contractor. The building has been set up with our reserve funds, and we’ve never delayed our loan processing because of it.”
The official opening marks the completion of Phase 1A of the project. Phase 1B, located at the rear of the building, will commence immediately after the opening.
The Nyeri based Sacco has branches in several other counties, among them Embu, Kiambu Kirinyaga, Laikipia, Nairobi and. Kajiado.
Nyeri Catholic Archdiocese Pastoral Coordinator Fr. Eliud Kamwaro presided over the colourful ceremony that was attended by scores of shareholders, customers and local residents.
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That was a very good move emerging from the sacco…I hope to see other high rise buildings within the town