By Kage Njoroge
Members of Mentor Sacco society have resolved to increase their nominal shares to boost the Sacco’s capital resources to render more effective financial services to its members.
During the 41st annual general meeting, the members agreed to increase their individual nominal shares to Sh30, 000 by September this year to improve capitation of the society.
Mentor Sacco chairman Antony Kamau urged members to speed up the payment of the money to enable the Sacco meet requirements set by the regulating agency, Sacco Societies Regulatory Authority (SASRA).
Addressing the shareholders at Murang’a Sports Club, Kamua said only 4,592 members have paid up the shares money from a membership of some 16,376 shareholders.
He told them to honour their commitment to strengthen the Sacco attain capital ratios required by law governing the Sacco societies in the country.
Kamau explained that with increased capitation the sacco will be able to provide innovative financial products and realize it’s expansion strategy.
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