Mr. Anthony Kamau, chairman, Mentor Sacco, addressing members during the AGM.

 Mentor  Sacco today successfully held its 44th AGM at Mumbi Grounds, Murang’a town. This was in strict adherence to the Covid- 19 regulations and protocols as outlined by the Ministry of Health.

The chairman, Mr. Anthony Kamau observed that 2020 was a challenging year globally due to the Covid- 19 pandemic. Nevertheless, through prudence financial management and support from the members, Mentor Sacco was able to navigate through the turbulent period. ″Businesses almost came to a standstill while others closed down and many employees were therefore laid off,″ said Mr. Kamau. ″This adversely affected our savings and credit activities, ″ he added.

Mrs. Joyce Ndegwa, CEO, Mentor Sacco, giving her speech during the AGM.

Notwithstanding these challenges, the Mentor Sacco´s total assets grew from Kshs. 7.94 billion in 2019 to Kshs 8.91 billion in 2020 .

The members in attendance actively participated in the proceedings of the AGM. It is worth noting that  a good number  of them are retirees, but they are still active members of the sacco.

Mentor Sacco members attentively following the proceedings of the 44th AGM.

Speaking after the AGM,  the chief executive officer, Mrs. Joyce Ndegwa  thanked the members who had turned up because of observing the  Covid -19 guidelines and protocols. She also emphasized that through prudence management of the sacco’s financial resources, its foundation was still sound. In that vein, the members´  interest on deposits grew  from 11.5% in 2019 to 11.8% in 2020. By the same token members´  dividend on share capital had been retained at 15%.

“We urge our members to continue patronizing our products so that we can achieve more growth in 2021,″ Mrs. Ndegwa concluded.



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