Kenyans have been encouraged to embrace a culture of saving and investing as a practical way of reducing poverty, increasing household incomes and creating sustainable economic opportunities.
The call was made during the official inauguration and members’ training of the Ports Sacco Malaba Branch held at the KNUT Hall in Amagoro, Busia County.
Speaking during the event, Ports Sacco Board Chairman Ben Juma thanked Teso North MP Dr. Oku Kaunya for championing the establishment of the Malaba branch, which has already attracted more than 700 members.
Juma described Malaba as a strategic commercial hub due to its position at the Kenya-Uganda border, the presence of the inland dry port and the planned extension of the Standard Gauge Railway (SGR), saying the Sacco was well positioned to support businesses and residents in the region.
He noted that Ports Sacco, established in 1966 and licensed as a Tier One deposit-taking Sacco regulated by the Sacco Societies Regulatory Authority (SASRA), remains committed to empowering members through affordable financial services, savings products and accessible credit.
Teso North MP Dr. Oku Kaunya urged residents to join the Sacco, saying its competitive interest rates would enable members to access affordable loans, expand businesses and improve their livelihoods.
The legislator also praised the Sacco’s corporate social responsibility programme, which has already awarded scholarships to 12 students, while appealing for more beneficiaries in future.
“It is worrying that Busia County has a poverty index of about 70%, while Teso North stands at 64%. This can only be reduced if our people embrace savings and investments,” said Kaunya.
Malaba Clearing and Forwarding Chairman Deogratius Otia called on the Sacco to allow teachers to serve as delegates without intimidation, saying the move would strengthen governance within the institution.
Otia also pledged support from clearing and forwarding agents operating at the Malaba, Busia and Lwakhakha border points, expressing confidence that membership would continue growing.
“Our target is to recruit 1,000 members and make the Malaba branch a model for others,” he said.
Busia County KUPPET Executive Secretary Charles Mukhwana commended Ports Sacco for consistently paying attractive dividends and supporting teachers through sponsorship of education and sports activities.
During a case study presentation, GESAO Foundation founder George Samson Ogwe revealed that the organisation had enrolled 200 members into the Sacco and had already accumulated savings amounting to KSh501,000.
“Our goal is to purchase a lorry for transporting event planning equipment,” he said.
Several members also shared testimonies about how the Sacco had positively impacted their lives.
Lawyer Obella Opura said he joined the Sacco a year ago and recently secured a KSh500,000 loan that enabled him to begin a personal development project.
Teacher Nancy Orodi of Bishop King’oo Secondary School and member Samuel Emojong also praised the Sacco for providing accessible financial services that have improved their financial stability.
Founded in 1966 by employees of the former East African Harbours and Railways Corporation, now the Kenya Ports Authority, Ports Sacco has expanded from its original Mombasa branch to Nairobi, Voi, Kisumu and now Malaba, with Likoni expected to become its next branch.
The Sacco currently serves more than 20,000 members, manages an asset base of KSh12 billion, and has a loan portfolio worth KSh8 billion, making it one of Kenya’s leading Tier One deposit-taking Saccos.
Members enjoy several benefits, including instant loan processing, loan eligibility of up to five times their savings- and up to ten times for teachers- annual interest of 12,5% on deposits payable every January, competitive returns on share capital and comprehensive insurance benefits.
The insurance package includes KSh100,000 for burial expenses upon a member’s death, settlement of outstanding loans through insurance, payment of twice the deceased member’s deposits to the next of kin and loan clearance for members who become permanently disabled.
