Sacco started by Jua Kali artists to start offering FOSA services



A cooperative that was started by Jua Kali artisans and small scale traders in Runyenjes town of Embu County now plans to start offering Front Office Sacco Activities (FOSA) to meet needs of members.
Started 10 years ago with an initial share capital of Sh237,000, Focus Sacco Society has grown considerably and now boosts savings of Sh17 million.
Sacco chairman Rev Linus Muriithi said they resolved to start FOSA services, having set aside Sh10 million deposit as a requirement by the Sacco Societies Regulatory Authority (Sasra).
Speaking during the Sacco’s annual general meeting, Rev Muriithi said they are in the process of registering for FOSA aiming to operationalise it by next year, an achievement that will diversify the transactions to members in savings and lending.
 He revealed the plan to start FOSA is contained in the Sacco’s 2017-2019 strategic plan.
Sacco official Ceasar Munyi said the dedication by the members to save and invest enabled the Sacco to post a profit despite a turbulent year 2017 when political events took centre stage.
“We ran Focus Sacco apolitically. The membership is cosmopolitan drawn from different Kenyan communities. We were not affected by the political happenings last year,” he said.
The Sacco made a profit of close to Sh2 million and issued a dividend of 11 percent on member’s savings.
Formerly known as Runyenjes Jua Kali Sacco, the Sacco membership currently stands at 1194.


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