StimaSavings and Credit Cooperative Society Limited hires 14 to boost services and grow revenue base

By Nicholas Waitathu

NAIROBI, KENYA: Stima Savings and Credit Cooperative Society Limited (Stima Sacco) have embarked on an expansion plan.

Chief executive, Paul Wambua said the financial services provider is keen to grow its business by opening new branches in parts of the country.

In this way, he observed that business would grow by more than 300 per cent in the next three years (2016) through innovative products, services and branch expansion.

To enable it pursue this goal, the union is seeking to recruit 14 new personnel. Those to be engaged include a branch manager, operations officer, branch credit officer, branch accountant, and procurement assistant.

Others are two customer relations’ assistants, administrative assistant, four marketing representatives and two accounts assistants. Stima derives membership mainly from the power sector.

Deposit taking business in the country has intensified with majority of financial institutions employing strategies to reach the unbanked. Wambua said the idea is to expand the branch network to tap on emerging business opportunities “In our strategic plan we plan to open new branches in Nakuru, Nairobi, Mombasa, and Kisumu thus offering job opportunities to Kenyans,” he said. Wambua said the new employees would be deployed in its branch in Nakuru as from next month. The other branches will be opened soon. The credit union, licensed by the Sacco Societies Regulatory Authority (SASRA) to carry out deposit taking business is diversifying its membership in order to register more businesses.

As at end of April it had 17,000 members and intention is to expand the membership further.