Stima Sacco’s journey over the past 50 years is a testament to visionary leadership, strategic growth, and unwavering commitment to its members. For over 50 years, Stima Sacco has grown into a financial giant with over 200,000 members helping them save, invest, and access loans.
“We are a Sacco of the people. We exist because our members are. We understand the problems and challenges of our members and we are always striving to find innovative ways and products to help them have a better life,” said Gamaliel Hassan, the CEO of Stima Sacco.
What has the journey been like?
1986: Establishing Independence
In 1986, Stima Sacco marked a significant milestone by establishing its own office at Paramount Plaza, moving out of the shadows of Kenya Power offices. This step symbolized independence and a bold stride towards self-sufficiency, setting the stage for future growth and development. It also marked the journey of opening up the Sacco for all Kenyans to join.
2001: Building Foundations
The year 2001 saw Stima Sacco embark on an ambitious project – the construction of its very own office building, Stima Sacco Plaza. This was more than just a physical structure; it represented the solid foundation on which the Sacco would continue to build its legacy of service and commitment to its members.
11th December 2003: A Double Launch
On 11th December 2003, Stima Sacco celebrated a historic moment with the grand launch of Stima Sacco Plaza. This occasion was made even more momentous with the simultaneous introduction of FOSA (Front Office Service Activity). FOSA significantly enhanced member services, bringing them closer to Sacco’s vision of providing comprehensive financial solutions.
2010: Expanding Horizons
The year 2010 was a landmark year for Stima Sacco, marked by two significant milestones. Firstly, the Sacco opened its Common Bond, allowing anyone to join, not just those in the energy sector. This move broadened the Sacco’s membership base and inclusivity. Secondly, Stima Sacco became the first Sacco to be regulated by SASRA, proudly holding license number 1. This regulatory milestone underscored the Sacco’s commitment to transparency, accountability, and excellence.
2014: Reaching Out Globally
In 2014, Stima Sacco launched Diaspora Banking, expanding its reach beyond Kenya’s borders. This initiative catered to the financial needs of members living abroad, reinforcing the Sacco’s dedication to serving its diverse and global membership.
2019: Diversifying Services
Continuing its tradition of innovation and member-centric services, Stima Sacco opened Mpawa Insurance Agency in 2019. This move diversified the Sacco’s offerings, providing members with a reliable avenue for insurance solutions and further enhancing their financial security.
2021: Inclusive and Affordable Banking
The year 2021 was another milestone in Stima Sacco’s illustrious journey. The launch of Yasar Islamic Finance introduced Shariah-compliant banking services, catering to members seeking ethical and faith-based financial solutions. Additionally, the introduction of affordable mortgage options underscored the Sacco’s commitment to making homeownership a reality for its members.
Celebrating 50 Years of Excellence
As Stima Sacco celebrates its 50th anniversary, it stands as a beacon of resilience, innovation, and unwavering dedication to its members. From humble beginnings to becoming a regulated, inclusive, and diversified financial institution, Stima Sacco’s journey is a story of visionary leadership, strategic growth, and a steadfast commitment to empowering its members and transforming lives. Here’s to the next 50 years of continued success and service excellence!
Related Content: From 10 Members To 200,000 Members, The Story Of Stima Sacco
