Page 7 - SACCO STAR ISSUE 37
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COVER STORY

METROPOLITAN @

Scaling to Greater Heights

                                                           By Lillian Kiarie

When talking of SACCOs on a trajectory growth curve              currently standing at 85,000 members. “We pride ourselves in
             in Kenya, Metropolitan National SACCO Limited       having one of the largest branch network in the country, notably
             is among those holding the mantle. The SACCO is     in; Nairobi (2), Kiambu, Kisumu, Bungoma, Thika, Limuru and
constantly incorporating Kenyans from diverse demographics       Nakuru,” he says. Additionally, the SACCO has satellite offices
whilst introducing innovative financial products. It was         in Mombasa, Machakos, Loitokitok, Emali, Kajiado, Namanga,
registered on 10th February 1977 (CS NO. 2628) and started       Ngong, Migori, Eldoret, Kitale, Siaya, Nanyuki and Matuu.
operations in 1978. As the SACCO closes in on its 40th
anniversary, the SACCO has grown in leaps and bounds and         As at 31st December 2015, the SACCO had total assets of Ksh
in the process changed its name twice to expound on its          8.550billion. Member deposits were at Ksh 4.777 billion while
geographical reach and attract a wider variety of members. In    equity stood at Ksh 1.157 billion. The revenues for the same
the year 2011, the SACCO was licensed by SACCO Societies         period stood at Ksh 1.227 billion.
Regulatory Authority (SASRA) to operate as a Deposit Taking
SACCO.                                                           In 2009, the SACCO was only open for teachers and had
                                                                 5,000 members. In a span of 7 years, the SACCO has scaled
Francis Nganga, the SACCO’s CEO reveals that initially, the      up recording positive results. “The exponential growth
SACCO was intended to serve primary school teachers in           is buoyed by the SACCO opening its doors to the public,
Kiambu district, of the then Central Province. “Over the years,  constant innovation in our products and services and efficient
the SACCO’s common bond was opened to allow all interested       management,” Nganga says.
Government employees, employees from private institutions
within the Republic of Kenya and Kenyan citizens in the          The SACCO has given its head offices a face-lift with its newly
Diaspora to enjoy the SACCO products and services,” he says.     tastefully furnished office at Chai House, along Kimathi Street.
                                                                 From here, it will continue to promote individual and group
Christopher Karanja, the SACCO’s Chairman adds that the          investment initiatives by acting as a financial intermediary to
SACCO has recorded remarkable growth with its membership         serve its customers needs.

Francis Ng’anga, Metropolitan National SACCO CEO poses with      Mr Christopher Karanja, Metropolitan National SACCO Chairman
the awards the SACCO has won over the years                                                                        5| SACCO Star Magazine
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