Stima DT Sacco is targeting to grow its asset base from the current Ksh 66.4 billion to Ksh 113.5 billion within the next five years.
Through its Strategic Plan 2025-2029, the country’s third largest sacco is planning to inject Ksh 500 in million which will finance the growth plan with specific focus on technology investment.
According to chief executive Dr Hassan Gamaliel, Stima DT Sacco is eying to leverage data analytics and artificial intelligence to enhance efficiency in transactions as well as a loan processing.
“The world has changed we have gone into data analytics, AI. So we are incorporating that into our day to day operations and we are very much confident that moving ahead in five years or so, we should be able to achieve all of those great targets that we have put forward,” said Dr Gamaliel.
Through the strategic plan the plans to grow its revenue from the current Ksh 10.2 billion to Ksh 19.3 billion as well as increase its membership from 220,650 to 385,000 during the period.
“Currently we have 80 agents across the country in the long run and within the strategic period, we are looking at increasing that to 1000 agents. It is much cheaper and more efficient way of going into the market,” he added.
Other strategies the sacco is targeting to undertake within the five-year period include enhancing operational efficiency to 99pc and grow its core capital from Ksh 13 billion to Ksh 24 billion.
“The 2025–2029 Strategic Plan is our commitment to ensuring that Stima Sacco does not merely adapt to change but leads it, setting new benchmarks for cooperative excellence,” said Dr. Joseph Siror, Stima DT Sacco Chairman.
By 2029, the sacco plans to expand it branches from 12 to 27 with target to open three branches annually.
Stima Sacco also targets to support its diversification strategy going forward. Currently, 78pc of earnings is from interest income with 13pc from investment income, majorly treasury bonds at Ksh 4.5 billion and bank deposits where the sacco has Ksh 9 billion.
Ronald Owili
