From a little known savings and credit co-operative society serving small scale farmers in Murang’a, Amica has evolved into a tier one player offering innovative products and with a strong citizenship agenda
By George Gichuki
When Dr. James Mbui walked into the CEO’s office at Amica Sacco in 2014, he wasn’t just stepping into a job, he was stepping into a challenge. At the time, the Sacco was seen by many as a fading institution, best known for serving aging coffee farmers and clinging to its past as Murata Sacco. But ten years later, Amica has rewritten that narrative; transforming into a modern tech-driven and inclusive financial institution with close to Kshs. 9 billion in assets, a national footprint, and a bold vision for the future.
Through strategic rebranding, digital transformation, and a deep commitment to customer empowerment, Amica has evolved from a small cooperative serving coffee, tea and milk farmers in Murang’a county and its environs, into a fast-growing, member focused solution for Kenya’s dynamic economic landscape. From youth mentorship programmes to flexible loan products and competitive investment offerings, the Sacco now reflects a vibrant and forward-thinking identity.
This is the story of how bold leadership, community trust, and innovation came together to create one of Kenya’s most promising Sacco success stories.
From Murata to Amica
The roots of Amica Sacco date back to 1966, when it was established as part of the giant Murang’a District Cooperative Union, under the Union Banking Section (UBS). Its primary role was to manage payments for coffee farmers. Farmers would receive advances through UBS, and once their produce was sold, their payments would be reconciled and disbursed accordingly.
Following changes in the Co-operative Law in 1997 that required societies to operate as single-purpose entities, Murang’a District Co-operative Union was restructured. This led to the establishment of Mugama Farmers Sacco. It would later be renamed Murata Sacco in a bid to appeal to a bigger target market – including business people, civil servants and professionals – other than just farmers.
Despite these efforts, by 2014, the Sacco’s growth was not in line with its goals. According to Dr. Mbui, the biggest hurdle was how the market perceived the brand. Murata Sacco was widely seen as a financial institution for elderly coffee farmers residing in the rural areas. This made it difficult for the brand to attract young people, entrepreneurs and professionals who felt it didn’t reflect their financial needs or aspirations. “We were viewed as a Sacco for elderly coffee, tea and milk farmers from Murang’a,” says Dr. Mbui adding that his first task as the CEO was to change that perception.
Consequently, a major rebranding campaign was initiated. It was spearheaded by a media consultant who advised that the Sacco should be renamed Amica – a Latin word meaning friend. Murata also means friend in Kikuyu and therefore this change symbolized continuity with a modern twist.
But the rebrand was more than just acquiring a new name. It involved a complete overhaul of Amica’s corporate identity. The logo, formerly a traditional handshake, was redesigned to a stylized modern handshake to align with modern aesthetics. Additionally, the corporate colours were updated to warmer, more professional tones that signify growth, warmth, and trust. Most importantly, the organization underwent a bold cultural shift, targeting members, employees and board of directors in a bid to embrace the new brand and vision.
The new brand was launched in a major event at the Safari Park Hotel in Nairobi, far from the lender’s traditional Murang’a base. The goal was to inspire bold and expansive thinking. “We wanted our stakeholders to stop thinking small,” says Dr. Mbui. “Our goal was to have them view Amica as a big brand, capable of attracting and serving members from all walks of life; not just small scale farmers,” he adds.
Since then, Amica has achieved remarkable growth. According to its 2024 financial results, its asset base has surged from Kshs 2 billion in 2016 to nearly Kshs. 9 billion. “The transformation has been so profound that those who worked at Murata a decade ago would barely recognize the institution today,” quips Dr. Mbui
This strategic reinvention laid the foundation for Amica’s current reputation as a modern, trusted, and people-centered financial partner.
Strong financial products and high returns
Amica Sacco has boldly stepped beyond the traditional boundaries of a lending institution. Under the leadership of Dr. Mbui, the Sacco has positioned itself as a robust investment destination, offering members attractive returns while addressing real-life financial needs.
At the heart of its investment portfolio is investa capital – a flagship savings product that offers a 10% return annually, far exceeding most market alternatives. Besides savings, investa comes with a free funeral cover for members who save Kshs. 30,000 and above. For members saving less, the same cover can be accessed by contributing a modest Kshs 1,000 per family member, which entitles beneficiaries to Kshs. 100,000 in the event of a loss.
Another major product is treasure; an on call investment account that pays 7% interest, which is credited monthly to a member’s account. This gives members the flexibility of immediate access to their funds while enjoying a steady flow of income. “Why struggle to build rental units with all the inherent risks, when you can invest in our treasure account and receive a consistent 7% return—without being stressed by tenants and property managers?” Dr. Mbui poses. “We want our members to view Amica as an investment vehicle, a place where your money works for you,” he adds.
The Sacco’s fixed deposit portfolio has surpassed Kshs 2 billion, a clear indicator of growing investor confidence. These deposits earn competitive interest rates, frequently above the market average, making Amica an increasingly attractive choice for both individual and institutional investors.
Additionally, Amica’s offerings are built with simplicity, accessibility, and transparency at their core. Whether you are a seasoned investor or a first time saver, the institution has structured its products to be inclusive. This encourages even low income earners to start small and grow their savings gradually.“If you invest Kshs 10,000, you’ll get a return of Kshs 1,000 and with consistency and discipline, you will be able to grow your wealth,” Dr. Mbui avers.
Significantly, Amica’s financial products reflect its broader mission: empowering members with tools to grow their wealth, secure their families and future without the risk and complexities that often come with traditional investment instruments.
Responsive lending
At its core, Amica Sacco’s lending philosophy is centred on real-life needs. To that end, it has tailored its financial solutions to suit the diverse rhythms of its members’ lives, whether they are farmers, entrepreneurs, mobile money agents, or salaried workers.
“As a financial institution, we help our members to achieve their goals by working closely with them,” explains Dr. Mbui.
For farmers, particularly those in coffee, tea, and dairy farming, Amica provides advance loans timed around seasonal harvests. Many coffee societies, for instance, rely on Amica to provide capital in January, allowing farmers to pay school fees and household bills well before their crop earnings are disbursed.
“We’re the reason many coffee farmers can take their children to school on time. They are advanced money in January, and once the coffee is sold in March or April, the loan is repaid. We only charge interest for the days the loan is actually used,” Dr. Mbui affirms.
These flexible repayment terms have also been extended to dairy cooperatives, who receive monthly advances to ensure farmers are paid promptly after delivering milk.
In addition, individual farmers access credit for buying animal feed, hiring labour, paying school fees, or acquiring more livestock.
For small and medium-sized enterprises, Amica’s stock boosta loan offers a smart solution. Business owners receive short-term capital to replenish their inventory and are given thirty to ninety days to repay—giving them enough time to turn over the stock. “A trader may have shelves but no stock. We fund the stock; they sell it, repay us, and come for more. That rotation keeps their business alive and growing,” Dr. Mbui explains.
In response to a growing challenge among mobile money agents, Amica has developed a float financing loan. This is a seven day facility that allows agents to buy float instantly when they run out of cash.
“We realized that many agents were closing shop for lack of float and we therefore stepped in with a product that gives them float on demand, repayable within a week,” the CEO notes.
Moreover, salaried individuals benefit from Amica’s personal development loan, which is designed for professionals with a check-off system. Even in 2024, during the periods when the interest rates of most commercial bank soared, Amica offered loans at a rate of 12%–13%, way below the competition.
These loans help members to settle their children’s school fees, upgrade their homes and address emergencies among other needs, while maintaining a fair, transparent repayment structure.
One of Amica’s most empowering lending features is its daily interest model. Members only pay interest for the exact number of days the loan is in use as opposed to fixed monthly cycles.
Investing in people, technology and service
When Dr. Mbui took over as the CEO in 2014, one of his first priorities was transforming Amica Sacco into a professional, tech-driven, and customer-responsive institution. At the time, staffing levels were modest, and very few employees had university education. “Today, over 90% of Amica staff members are university graduates, a reflection of the Sacco’s commitment to excellence and service quality,” he affirms.
Currently, Amica has about two hundred permanent employees and over one hundred commission- based field agents. These agents serve as a vital link between the Sacco and its members; moving door to door, collecting deposits, recruiting new members, and providing access to financial products across Kenya.
Parallel to building human capacity, Amica undertook a comprehensive digital transformation. The Sacco embraced mobile and online banking systems that now handle the bulk of its transactions. Today, 90% of deposits and 70% of withdrawals are conducted through digital channels such as Amicash, mobile app, USSD codes, agents and ATM networks. “The current generation perceives banking as something you do , as opposed to a place you go to and that is why we have embraced mobile banking,” says Dr. Mbui.
Recognizing that great systems only matter if service is felt, Amica has also introduced real time customer service feedback loop. Every transaction, whether digital or physical, is followed up with a prompt requesting members to rate their experience. This feedback is reviewed daily by the Sacco, hence creating a culture of accountability, service and continuous improvement.
Internally, even departmental heads and senior managers are rated and reviewed by staff and members, reinforcing Amica’s commitment to transparency. Moreover, physical banking spaces have been revamped to reflect the institution’s brand and image. Most of Amica’s eighteen branches have been refurbished, and five service centres opened to provide accessible face to face service at lower operating costs.
The impact of these reforms is not only visible in customer satisfaction but also in the Sacco’s members: a leap in revenue from Kshs 300 million to Kshs 1.3 billion, and asset growth from Kshs 2 billion to close to Kshs 9 billion in under a decade.
Impacting lives through mentorship
Amica’s commitment to community development is evident in its Pre-university Mentorship Programme. Targeting top students from day secondary schools across thirty five wards in Murang’a county, the three-month programme prepares students for university life, covering topics like emotional maturity, financial discipline, identity, and career readiness. After training, these students are placed in Amica branches for mentorship, customer engagement experience, and later internships.
Embracing ESG and responsible business
In alignment with global trends, Amica has begun implementing environmental, social and governance (ESG) principles. The Sacco prioritizes sustainable growth compliance with customer protection laws, responsible environmental practices, and staff welfare, including a safe and supportive working environment.
As a responsible corporate citizen , Amica has twice ( 2023 and 2024 ) received the top taxpayer award in the Central region from the Kenya Revenue Authority (KRA). “We believe responsible business is good business. Our growth must be anchored in ethics, sustainability, and service to our members,” affirms Dr. Mbui.
Vision 2029
As Amica Sacco charts its path forward, Dr. Mbui is guiding the institution with a clear and ambitious five-year roadmap that focuses on deepening impact, expanding reach and ensuring long term sustainability for both members and staff.
Over the next five years, the Sacco aims to grow its asset base to Kshs. 15 billion, while also increasing annual revenue to Kshs. 2.5 billion. A key commitment is to maintain dividend payouts of atleast 10%, ensuring members continue to enjoy strong returns. In the same vein, Amica plans to double staff salaries in tandem with revenue growth, a move that underscores its people-first culture. Finally, the Sacco is focused on expanding its members base, particularly by attracting small savers and embracing the needs of a digitally engaged generation. “If we double our income, I want to double the pay for our staff. I’ve told them that growth must be shared, and I know they’re capable of working hard,” says Dr. Mbui.
With these goals in sight, Amica Sacco is positioning itself not just as a financial institution, but also as a catalyst for wealth creation, professional growth, and sustainable cooperative excellence in Kenya’s ever-evolving financial landscape.
Strong brand
Amica Sacco has redefined what a cooperative can be in the 21st century : responsive, tech-driven, people–centred, and rooted in uplifting communities. From a humble beginning , it has evolved into a solid financial institution with a sound reputation for transparency, profitability, and impact.
