Harambee Sacco boss seeks to clean up bad loan bookHarambee Sacco CEO Dr. George Ochiri. Harambee Sacco’s membership stood at about 92,000 at the end of 2017, most of whom are current and former civil servants. The Sacco Societies Regulatory Authority has in the past had run-ins with the Harambee Sacco, with a 2012 audit finding it having run afoul of nearly all prudential parameters. It also had material variances between the outstanding loan portfolio reports and provisions for loan losses. The CEO said the Sacco expects turnover to rise to Sh4.3 billion this year, up from Sh3 billion previously.

Source: Standard Digital March 23, 2019 21:06 UTC