Arthur Ngatia, one of the founding members and officials of NewFortis Sacco takes us down memory lane
By George Gichuki
Many people harbour lofty ideas on how to establish businesses that will generate a lot of revenue for them. Unfortunately, they do not execute them. It is advisable to gather the courage of starting a business (even if it means doing so in a small way), rather than just toying around with ideas that never see the light of the day. Forty six years ago, the founders of NewFortis Sacco had the foresight of coming up with a powerful business idea and the courage of executing it, despite the limited resources that were at their disposal. The seed that they planted and watered until it germinated to a tree has now become a forest. Indeed, the audacious journey that they bravely embarked on has put them in the right side of history. They shall be celebrated in many generations to come because of being visionary and selfless.
Humility
One of the 857 teachers from the then Nyeri district who founded NewFortis Sacco in 1976 is Mr. Arthur Ngatia. He has since retired from the teaching profession and practises small scale farming. Nevertheless, Mr. Ngatia is still a member of the giant Sacco and he attended its 46th AGM, where he sat among the main guests.
Going down memory lane, the soft spoken and smartly dressed gentleman recalls that the founding members deposits contribution was Kshs. 20 and the highest loan one would get was Kshs. 3,000. They used this to improve their living standards and educate their children.
During the first AGM of NewFortis (then known as Nyeri Teachers Sacco), Mr. Ngatia was elected to serve as the secretary. Together with the other officials, they visited various schools in Nyeri district wooing teachers to their noble cause. Going by the growth that the Sacco has been able to achieve over the years, the effort of these selfless leaders was not in vain. With a modern headquarters in Nyeri town, NewFortis currently has branches in Karatina, Othaya, Nairobi and Nanyuki. Additionally, it has an asset base of over Kshs.9.2 billion, making it among the Saccos that are ranked as tier one by the Sacco Society Regulatory Authortity (SASRA).
In 1982, Mr. Ngatia was elected as the Chairman of the Sacco, a position that he served for seven years. Mr Ngatia remains a hero to Newfortis Sacco for the pivotal role he has played towards its growth. Nevertheless, despite cultivating a strong legacy, success has not got into his head. His humility is striking. “Our Sacco has now grown in leaps and bounds attracting members from the civil service, other professions and the business community,” he says with a warm smile. “It has a strong board of directors and management team as well as loyal members and innovative products, hence its future is very bright,” he adds. Clearly, Mr. Ngatia speaks with a lot of wisdom cultivated through his many years of service as a teacher and leader.
WHEN CHARITY BEGINS AT HOME
Fredrick Karue, a retired teacher is still a member of NewFortis Sacco and relates well with its staff members
Even after retiring, many individuals still continue being members of NewFortis Sacco. One of them is Mr. Fredrick Karue. Currently, he is a small scale farmer in Kieni and Mathira where he owns two parcels of land. He practises dairy and coffee farming. “Although we have retired, the Sacco has given us an opportunity to continue being its members and we are very glad for that,” says Mr. Karue.
Mr. Karue retired from the teaching profession in June 2021. As a sign of his loyalty, he has introduced one of his nephews (a small scale farmer) to the Sacco. Both of them attended the 46th AGM.
Benefits
One of the major benefits that Mr. Karue has got from NewFortis Sacco is educating his children. Two of them are nurses while one is in the banking profession. “As a member of NewFortis, I am glad that the Sacco has supported me in educating my three children who are all now in full time employment,” Mr. Karue happily says.
Since NewFortis has opened its common bond, Mr. Karue makes a passionate appeal to civil servants, non-teaching professionals and business people to become its members. “NewFortis has very strong leadership and management teams and that is why every year, the members earn high dividends,” he says. “Joining this profitable Sacco is therefore a very wise decision,” he ends.
SAVINGS IS A ROUTE TO FINANCIAL INDEPENDENCE
Grace Gitu, a loyal member of NewFortis Sacco benefits by being faithful in savings
Grace Gitu joined Newfortis Sacco in 1996 while she was working at Kwale district. She has since moved to her home town, Nyeri and teaches at Nyamachaki primary.
Grace was among the members of NewFortis Sacco who attended its 46th AGM. “I have been faithfully attending all the AGMs of NewFortis since I became a member in 1996,” she says. The Sacco has financed her to buy a plot and put up a permanent house in Nyeri town. Additionally, she has been able to educate her children through its support. “Currently, one of my children is a student at Buruburu Institute of Fine Arts and NewFortis is supporting me to pay his fees,” she proudly says.
Grace has learnt the benefits of saving money by being a member of NewFortis Sacco. “I am financially independent and I do not beg for assistance from my friends and relatives whenever a need arises,” she says. “On the contrary, I visit my Sacco and I am able to get the necessary assistance,” she adds. In that regard, she is planning to invest more in the Sacco’s shares so as to access big amounts of loans, besides earning higher dividend.
