- IG Sacco has appointed Mary Awino as acting CEO following Peter Vuhya’s move to terminal leave pending retirement.
- The Sacco has also overseen a board transition, with Rodgers Waswa replacing long-serving chairman Kennedy Keya after 23 years.
- Awino’s tenure as Finance Manager has been credited with double-digit revenue growth, reduced operating costs and full regulatory compliance.
Invest and Grow (IG) Sacco, the largest teachers’ savings and credit cooperative society in western Kenya, has announced the appointment of Mary Awino as its new acting Chief Executive Officer. Awino, who previously served as the Sacco’s Finance Manager, takes over the helm following the departure of Dr CPA Peter A. Vuhya, who proceeded on terminal leave pending retirement from the Sacco, a leadership transition that has sparked optimism among members and stakeholders.
The management change coincides with a strategic overhaul of the board of directors, following the retirement of the long-serving chairman, Kennedy Keya, who had been at the helm since 2003. Keya stepped down after an illustrious 23-year tenure that saw the Sacco undergo a remarkable transformation.
Under his stewardship, IG Sacco’s asset base scaled from Ksh800 million to an impressive Ksh16 billion, while its active membership grew to over 30,000. Replacing Keya is Rodgers Waswa, who now chairs the board as the Sacco eyes further expansion.
Awino’s elevation to the position of acting CEO is widely viewed as a natural progression, given her extensive track record of financial prudence and strategic innovation during her tenure as Finance Manager. Her appointment comes at a critical time as the Sacco seeks to balance aggressive growth targets with increasing calls for inclusion from the retiree demographic.
During her time as Finance Manager, Awino achieved several notable milestones that have positioned the Sacco for sustainable success. She spearheaded strategic financial planning and investment management initiatives that increased the society’s revenue by a steady 20 per cent annually.
Additionally, her rigorous budgeting and cost-control measures reduced operating costs by 15 per cent, significantly improving the institution’s operational efficiency.
One of her hallmark achievements was stabilising the Sacco’s liquidity position, effectively shunning reliance on bank overdrafts and loans, thereby strengthening the society’s financial independence. She also diversified and balanced the investment portfolio, ensuring a more resilient revenue stream against market volatilities.
In an era where regulatory compliance is paramount, Awino implemented a new financial reporting system that enhanced accuracy and reduced reporting time by 30 per cent, while simultaneously achieving 100 per cent regulatory compliance, resulting in zero penalties or fines.
Her leadership was instrumental in guiding the finance team through successful internal and external audits, which consistently recorded no significant findings.
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Furthermore, Awino played a pivotal role in strategic planning sessions, contributing significantly to the formulation of the society’s long-term goals. Her departure from the finance department has necessitated the appointment of Salome Juma, who takes over as the new Finance Manager.
As IG Sacco turns the page on a historic era, the new leadership under Chairman Rodgers Waswa and Acting CEO Mary Awino is poised to steer the cooperative toward inclusive growth, enhanced member value, and operational excellence.
The management has expressed confidence that Ms Awino’s wealth of experience will be instrumental in driving the society’s strategic agenda and meeting the evolving needs of its members.
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